On Friday 11 November 2016, the Luxembourg Government revealed the preliminary legal and regulatory framework for space resources utilisation activities in Luxembourg. The bill of law consists of two main components dealing respectively with the ownership of space resources and the authorisation regime for the exploration and use of such resources. In summary, the proposed bill of law contains the following provisions: • Space resources are capable of being appropriated in accordance with international law (article 1) by analogy with the rules...

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Maureen Kline is Vice President, Public Affairs and Sustainability for Pirelli Tire North America, responsible for the U.S., Canada and Mexico. She chairs the board of the Tire and Rubber Association of Canada and sits on the advisory board of the Corporate Responsibility Association, where she co-chairs a Thought Leadership Council on Brand and Reputation Management. Previously she managed Pirelli’s global public affairs, and before that, international communications from the company’s headquarters in Milan, Italy. Prior to her public affairs...

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StartupNano opens its doors to entrepreneurs around the world working with nanotechnology based solutions. From the North of Portugal, startups have access to support to go from idea to global markets, to unique laboratories and expertise in nanotechnology, and to incubation in a unique international infrastructure for nanotechnology built by Portugal and Spain governments. Besides access to a specialized nanotech network of mentors and experts, startups have access to awards and up to €100k direct investment. The deadline for submission...

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With the election of Donald J. Trump as the 45th president of the United States, there is much speculation about what our nation, and the world, can expect in terms of public policy orientation from a Trump-led administration. As a candidate, Mr. Trump ran as a Washington-outsider bent on upsetting the establishment status quo and whose campaign promises centered around undoing many pieces of President Obama's agenda. While cutting through the rhetoric of a presidential campaign can often be difficult, the clearest...

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FX Implications of the Trump VictoryThe FX market reaction to the Trump victory was just as most had predicted – for a few hours. But by the end of Wednesday the USD weakness that had been seen initially against the majors had evaporated and the USD finished the day higher across the board. It does seem that market predictions that Trump would undermine confidence in the USD and the US economy have been off the mark. Not only is...

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Wednesday's Activity: Trepp’s Takeaways from the Presidential Election Results Excerpt on CMBS We see the Donald Trump victory last night as a possible net positive for the CMBS market on several fronts. First, there is certainly the possibility of a loosening of risk retention rules. This could potentially help boost CMBS issuance in the future, compared to what a CMBS world with risk retention might look like. In addition, the removal of the higher borrower costs that come with risk retention structures would make...

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We’re heading into the holiday season – a time when people reflect on the past year and what they want to do better in the coming year. You also might hear some advice – welcome or otherwise – from family members as you gather together. If I can be so bold, the Vision Impact Institute (VII) has some advice to share, too – advice backed up by research. A recent report titled Making Eye Health a Population Health Imperative: Vision...

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Employee stock ownership plans (ESOPs) provide companies, selling shareholders and employees numerous benefits. But before any of these stakeholders reap the numerous benefits of an ESOP, company management must commit significant time and resources to its formation and administration. From the onset, management must make the ESOP’s sustainability a priority, regardless of its ownership stake. This article discusses the importance of understanding the relationship between a company’s valuation and an ESOP’s sustainability. Specifically, companies should seriously consider employing certain...

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Companies that develop software that functions as a medical device should be aware that the Food and Drug Administration (FDA) has issued draft guidance that, once finalized, will classify the endless variety of Software as a Medical Device (SaMD), and impose risk-based criteria for evaluating the safety and effectiveness of such software. The draft guidance, titled Software as a Medical Device (SaMD): Clinical Evaluation,” is an attempt to determine what type of clinical evaluation is appropriate for SaMD that...

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In the business world, unfortunately, the rearview mirror is always clearer than the windshield.”– Warren Buffett, Chairman and CEO, Berkshire Hathaway Inc. “Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window.” – Peter Drucker, management consultant, educator, and author As we examine the current state of the mergers and acquisitions (M&A) market, I find myself reflecting upon two favorite quotes, which remind us that historical...

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