President von der Leyen unveils her new College of Commissioners On Tuesday (17 September), President von der Leyen announced the names and portfolios of her new College of Commissioners. The new list of Commissioners-designate and their responsibilities align with the ambitions outlined in the Political Guidelines and the European Union’s core priorities of Prosperity, Security and Democracy. A significant highlight of this Commission is President von der Leyen’s efforts in promoting gender balance. While there is not an equal number of...

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Overview: The Federal Reserve's 50 bp rate cut has made for a volatile 15 hours or so in the foreign exchange market. As North American traders return to their posts, the greenback is heavy. They will find that only the yen and Russian ruble are softer. Norway delivered a hawkish hold, and the krone leads the G10 currencies with more than a 1% gain. Australia's employment data was sufficiently strong that the Reserve Bank of Australia will likely reiterate its...

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€3.5 billion for urban development and smart cities €1.4 billion for business investment and corporate innovation €350 million for sustainable transport and water Transparency, accountability and well-being Action Plan welcomed The Board of Directors of the European Investment Bank (EIB) approved a total of €5.3 billion of new financing to bolster climate resilience of communities across Europe and back business investment that strengthens competitiveness, creates skilled jobs and unlocks innovation and growth. “The floods that hit Europe in recent days...

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In this week’s Roar: Preparations for a port strike, the EU’s Carbon Border Adjustment Mechanism, the maritime AI market, falling diesel prices, and nearshoring to Latin America. Shippers and LSPs are preparing for a potential East Coast port strike in the U.S., which could significantly disrupt operations, even though dockworkers and terminal operators appear to be mostly posturing at this point. Preparation is still key, with shippers and carriers examining alternative strategies to help mitigate the effects of a strike if...

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The harsh truth about the EU’s competitiveness in Artificial Intelligence and emerging technologies Mario Draghi, the former Italian Prime Minister and President of the European Central Bank, presented his long-awaited report on “The Future of European Competitiveness” forcing the EU to accept some harsh truths regarding its competitive standing in cloud services, AI, and quantum computing. Without significant reforms to its private investment, labour, and regulatory strategies, the EU will likely fall behind the United States and China in the ongoing technology...

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In this week’s Roar: Preparing for another strike, FMC demands, surging container shipping profits, the world’s largest methanol-powered container ship and regulating autonomous heavy trucks. Another potentially large port strike looms, only this time on the East and Gulf Coasts. And once again, we’re reminded of how vulnerable the supply chain is in the face of this type of disruption. There will be economic ramifications and a ripple effect throughout manufacturing and logistics. With that in mind, it’s important to...

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By Akash Tomar | In August 2024, the eurozone experienced a significant drop in inflation, with the rate falling to 2.2%, the lowest since 2021. This decline has fueled speculation about potential interest rate cuts by the European Central Bank (ECB). Core inflation also decreased to 2.8%, though rising services inflation continues to concern the ECB, which aims to achieve a 2% inflation target by 2025. European equity markets responded positively to this news, with the Stoxx 600 index reaching a record...

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On September 5, 2024, Steel Dynamics, Inc., Nucor Corporation, United States Steel Corporation, Wheeling-Nippon Steel, Inc., and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union, AFL-CIO, CLC filed a petition for the imposition of antidumping and countervailing duties on the imports of Certain Corrosion-Resistant Steel Products from Australia, Brazil, Canada, Mexico, the Netherlands, South Africa, Taiwan, Turkey, the United Arab Emirates, and the Socialist Republic of Vietnam. The petition alleges dumping...

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By: Jennifer Kosar, Trust and Transparency Solutions Leader, PwC US, Rohan Sen, Principal, Data Risk and Responsible AI, PwC US, Ilana Golbin, Director and Responsible AI Lead, PwC US If you’re a chief risk officer (CRO), chief compliance officer (CCO), chief information security officer (CISO), chief legal officer (CLO) or other professional in a risk-focused area, then governing AI is at least on your radar – and probably on your priority list. The reason is the speed with which generative...

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The Future of the European Green Deal The European Green Deal is a set of policy measures designed to guide the EU toward a green transition, with the eventual goal of reaching climate neutrality by 2050. Introduced in 2019 under the leadership of European Commission President Ursula von der Leyen, the comprehensive strategy seeks to reduce greenhouse gas emissions, promote clean energy, and foster sustainability across all sectors. Now, with von der Leyen’s re-election, there’s growing debate about whether the...

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