August FX outlook – USD weakness hard to oppose, but stabilization may be seen USD weakness accelerated in July as the continued lack of action (and some signs of disintegration) from the Trump administration combined with continuing evidence of recovery elsewhere. Tightening of monetary policy in Canada and indications of a potential tapering of monetary accommodation in the Eurozone come the autumn added to pressure on the USD, as did evidence of weak inflationary pressures in the US and consequent...

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ING Group announced today it will redeem all outstanding USD 522 million of 8.439% non-cumulative guaranteed trust preferred securities, issued by ING Capital Funding Trust III, on 30 September 2017, in line with ING's goal to continuously optimize its capital structure. The initial size of the security was USD 1,500 million and the bond was subject to a tender offer in 2011. The securities (CUSIP 44978NAA3) will be redeemed in full in accordance with their terms, with payment to be...

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Four members of the European-American Chamber of Commerce in New York, including DLA Piper, Hogan Lovells, Orrick, and Ogletree Deakins, have been awarded spots in the BTI Clientopia 24 rankings this year. The BTI Clientopia 24 rankings conducted by BTI Consulting Group gauge which law firms possess the largest and most distinguished clients across 18 industries, including banking, pharma, consumer goods, and more. Excellence in client relationships, or "Clientopia,"  is measured through two criteria: money (proportion of legal dollars clients...

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ATLANTA – August 1, 2017 – Ogletree Deakins, one of the largest labor and employment law firms representing management, is pleased to welcome Bill Pilchak, Dan Cohen, and Mike Nader as shareholders. Pilchak and Cohen, who will be based in the firm’s Detroit (Metro) office, join the firm from Pilchak & Cohen, a boutique labor and employment law firm founded by the two attorneys. Nader, who joins the firm’s Sacramento office, was previously of counsel and later a shareholder...

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On 6 July 2017, the European Commission sent three separate Statements of Objections (SO) to Merck and Sigma-Aldrich, General Electric (GE) and Canon for alleged breaches of procedural EU merger rules. The Commission claims Merck /Sigma-Aldrich and GE provided incorrect or misleading information, while Canon allegedly implemented a merger before it was notified and cleared. Two months ago, the Commission imposed a fine of EUR 110 million on Facebook for providing misleading information during its WhatsApp takeover and issued an...

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Wilson Sonsini Goodrich & Rosati and leading UK VC firm Notion Capital have teamed up on a blog to offer their perspectives on US expansion and transatlantic VC investment. Check out the full series here. US employment is a business topic that is truly foreign to many UK entrepreneurs. Employment matters in the States are best addressed by proactively seeking to avoid problems, and a careful and competent setup can mitigate most risks and deter many disputes. Don’t take our word for it; we regularly hear experienced...

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Tech City UK and Wilson Sonsini Goodrich & Rosati have partnered on “Expansion to the USA”: a comprehensive collection of short videos and articles for UK and other non-US technology companies seeking to enter the US market or raise capital from US investors. Click on the links below to view the series. Launching in the US: How UK companies can best position themselves for launching their digital business in the US. Raising US Funding: The dynamics of raising venture capital from US investors, including when...

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Technology is changing every industry and healthcare is no exception. In the past, you might have had to join a long waiting list to see your local GP. Today, mobile healthcare (“mHealth”) allows you to download an app, consult a practitioner by video call, access your records, get diagnosed, monitor your symptoms remotely, manage your prescriptions, set reminders for treatment and that’s just on your morning coffee break. mHealth may have your healthcare covered, but who is looking after...

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Highlights in this edition: Netherlands implementation proposal for EU Anti-Tax Avoidance Directive published CJ rules that German provisions denying the deduction of pension and health insurance contributions is in breach of the free movement of workers (Bechtel) AG Kokott opines that Finnish taxation upon transfer by a resident company of a foreign PE is not in line with the freedom of establishment (A Oy) CJ rules that a vendor in good faith cannot be required to pay VAT at...

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Houlihan Lokey is pleased to announce that Agilex Fragrances, a portfolio company of MidOcean Partners, has been acquired by Firmenich International SA (Firmenich). Financial terms of the transaction were not disclosed. The transaction closed on July 11, 2017. Headquartered in Piscataway, New Jersey, Agilex Fragrances is a leading provider of fragrance compounds and delivery systems to mid-sized customers. The company possesses leading creative and technical capabilities for the customers it serves, which are primarily manufacturers of air care, home care,...

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