European Commission presents Defence Omnibus proposal On Tuesday, 17 June, the European Commission unveiled a sweeping package of proposals aimed at dramatically speeding up investment in Europe’s defence industry. In response to the urgent security challenges posed by the ongoing war in Ukraine, the Commission has proposed the “Defence Readiness Omnibus.” This initiative seeks to minimise bureaucracy, clarify regulations for investors, and enhance Europe’s ability to develop the necessary military capabilities. The move signals a significant push from Brussels to...

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IPTI’s usual monthly newsletter - the “President’s Message” - contains, inter alia, some summarised news articles from around the world. This IPTI publication - “Property Tax in the News” - contains some of the more interesting news articles concerning property taxes in North America and Europe which is where many of our members have a particular interest. Links to these and more, similarly summarised, articles - from North America, Europe and around the globe - can be found in...

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The 2025 North American severe-weather season has begun, with experts predicting above-average hurricane¹, tornado², and fire³ seasons. Last year, the Atlantic hurricane season alone was estimated to have caused more than $200 billion in damages and economic losses⁴. When disaster strikes, having a secondary assured positioning, navigation, and timing (APNT) solution integrated into your operations can help reduce downtime and enhance asset safety in the following ways: 1. Delivers weather-proof connectivity that works inside or outdoors Whether you’re overseeing emergency personnel in...

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Nadia Calviño, president of the European Investment Bank (EIB) Group, highlighted the EIB’s pivotal role in strengthening Europe’s security, competitiveness and global partnerships in her keynote message at the GLOBSEC Forum 2025 in Prague, Czechia on 12 June. Good morning. Dear friends, distinguished leaders, colleagues, partners. It's a great pleasure to join you at the 20th GLOBSEC Forum in beautiful Prague, and I want to first thank our Czech hosts for their hospitality and their steadfast commitment to the European project. We are meeting...

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EU and UK reach an agreement in respect of Gibraltar On Wednesday, 11 June, the EU and the UK reached an agreement resolving the long-standing post-Brexit border issues in Gibraltar. Central to the deal is the removal of passport controls at the border, reconnecting Gibraltar with Spain. Gibraltar will be incorporated into the EU’s Schengen Area, allowing passport-free movement for residents and approved individuals. The agreement will also implement both Spanish and British officers conducting parallel checks at the border. Additionally, the agreement enables Gibraltar...

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Executive Summary: A World Disrupted by U.S. Policy Shifts and Uncertainty In a period of only months, actions by the U.S. administration of President Donald Trump have disrupted U.S. trade, foreign and economic policies, and created exceptional uncertainty for the U.S. and global economies and financial markets. Questions about the strategy and end game of the President for the rules that govern international trade and investment are forcing governments, businesses and investors worldwide to reassess their own strategies and relationships. A “tough on...

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By: Christopher M. Flanagan, Buddy Sanders, Peter T. Wynacht, John C. Nelson, Jr., Troutman Pepper Locke On May 22, the House of Representatives passed H.R. 1, the budget reconciliation bill known as the One Big Beautiful Bill Act (the BBB). The BBB proposes amendments to the Internal Revenue Code (the Code) that could have significant consequences for private equity funds and their portfolio companies. This alert summarizes certain key tax provisions of the BBB that could impact private equity funds,...

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