After a brief timeout on Thursday, US stocks resumed their winning ways on Friday. The Dow gained 54 points (0.29%) while the S&P 500 and Nasdaq added 0.46% and 0.52%, respectively. The 10-year Treasury yield was unchanged, ending at 1.57%. CMBS cash trading was quiet on Friday as less than $100 million was out for bid. Cash spreads continued to grind tighter and outpaced CMBX as it did for the majority of last week. For new issue, AAA cash paper, spreads narrowed...

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European companies invest large sums in developing and launching their products in the US, but lack the same investment in developing and launching their managers and leaders. Epic stories of wanting to conquer the US have been told by generations. The variables for how to be successful in the US cannot be easily distilled. Many adventures have turned into huge successes and others became very public failures. We are interested in understanding the leadership challenges and opportunities Danish companies face in...

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The Deal, a business unit of TheStreet (NASDAQ:TST), today released a digital handbook titled, "Corporate Governance In the Era of Activism," which defines a first-ever code of conduct for institutions and their boards on how to expand shareholder value before, during and after approaches by disgruntled activist shareholders. According to FactSet, in the first five months of 2016 alone, activist investors launched 72 full-blown proxy contests to elect directors at targeted companies, and from 2009-2015, over 40 percent of companies in...

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The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep our members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of reports from recent articles contained in IPTI Xtracts. The brief reports below cover New York and the USA, the United Kingdom, Italy, Portugal, Cyprus and Slovenia. USA: New York City Tax Fairness: Recently, we noted the ongoing debate over how and whether to reform...

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Students will be at the forefront of the upcoming United States presidential election with the University of Akron’s International Campaign Fellows (ICF) program, an exciting political science internship available through IIE’s Global Experience and Training (GET) initiative. Political science enthusiasts will learn about running a campaign, from fundraising and security to press coverage and budget management. Participants will attend events, experience grassroots campaigning, collaborate with professionals, and gain an inside perspective on the results of the U.S. election this season. GET...

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Since the European Court of Justice declared invalid, on October 6, 2015,1 the Safe Harbor agreement between the U.S. Department of Commerce and the European Commission for the transfer of personal data, hundreds of U.S. multinationals have been struggling to find an alternative while waiting hopefully for the Safe Harbor’s replacement. The Privacy Shield, effective as of July 12, 2016, may provide the alternative these organizations have been seeking. For U.S. multinationals that relied on the Safe Harbor to...

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According to this morning's Commercial Mortgage Alert, the CMBS loan backed by the 1.7 million square-foot Chicago office at 131 South Dearborn (also known as the Citadel Center) has been modified. The piece notes that Angelo, Gordon & Co. and Hines have recapitalized the property with a pledge of $50 million of new equity. The $472 million in CMBS debt has been modified as well. The new terms split the loan into a $400 million senior note and a $72...

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The New York office of the Dutch law firm Houthoff Buruma offers clients and colleagues in the US selected news items about relevant legal developments in the Netherlands, the European Union and the Dutch Caribbean. Please email managing partner Helena Sprenger if you have any questions. The EU-U.S. Privacy Shield officially adopted On July 12, 2016 the EU-U.S. Privacy Shield was adopted by the European Commission, providing a new framework and legal basis for EU-U.S. personal data transfers. U.S. companies will be...

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Recently a set of BEPS related draft legislation/guidance has been published: (i) On 21 June 2016, the Council of the European Union (“EU”) agreed on the draft Anti-Tax Avoidance Directive (“ATAD”); (ii) On 22 June 2016 a bill of law regarding the adoption of a Protocol amending the US/Luxembourg double tax treaty (“Protocol”) was filed with the Luxembourg Parliament; and (iii) On 29 June 2016, the OECD released new guidance on the implementation of the Country-by-Country (“CbC”) Reporting. For your convenience, we have summarised hereafter the...

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On July 1st, Stout Risius Ross proudly celebrates its 25th anniversary . Many things have changed over the past 25 years. One thing that has not changed is our focus on providing our clients with the insight and advice they need to help make good decisions. From our earliest days, we have been guided by underlying values and the highest standards that have stood the test of time. We are proud to have grown from our humble beginnings to one...

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