Teresa Ribera: the competition Vice-President set to shake up Brussels Spain’s Teresa Ribera is poised to become the second most influential person in the upcoming European Commission, surpassed only by President Von der Leyen. As the newly appointed Executive Vice-President for a “Clean, Just and Competitive Transition”, Ribera will wield significant power over environmental policy implementation and the crucial competition portfolio. With a distinguished career spanning law, academia, and civil service, Ribera brings a wealth of experience to her new role....

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Editor’s Note: News broke late Thursday 10/3/2024 that the ILA strike was suspended with an extension of their existing contract through Jan. 15 to provide time to negotiate a new contract. Trepp will continue to monitor the situation and the impact on CRE. Amid what many cautiously believe to be a soft landing, the U.S. economy is now facing a strike by the nation’s largest maritime workers union that could shut down key East and Gulf Coast ports, from Maine...

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Headlines for Q4 2024 Geopolitics, Ocean Rate Volatility, and a Focus on Supply Chain Resiliency.   Global Ports The Headlines: Global ports continue to face issues related to geopolitical tensions, labor unrest, aging infrastructure, and climate change. Port congestion in Asia is the worst it’s been since the pandemic, and while large carriers like Maersk report stability in N. Europe, they continue to face global network challenges. The Red Sea Crisis continues disrupting ocean shipping from rates to transit times to port...

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On October 2, 2024, the U.S. Department of Homeland Security announced the addition of two companies to the Uyghur Forced Labor Prevention Act (UFLPA) Consolidated Entity List and a technical correction to modify the name of one already listed entity. By statute, goods, mined, produced, or manufactured wholly or in part in the XUAR or produced by an entity on one of the UFLPA lists are subject to a rebuttable presumption that they were made using forced labor and are...

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By Noa Sussman, Director of Global Solutions, TECEX The global data center market is poised for transformative growth, driven by the surging demand for cloud services, edge computing, and digital transformation. However, the ability to seize tailwind opportunities hinges on one crucial factor: the proactive management of significant headwinds—such as regulatory challenges, sustainability concerns, and infrastructure limitations—that, if left unaddressed, could severely undermine growth potential and inflate trade compliance costs. This paper explores these dynamic forces and underscores the critical role...

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The EU Data Act (the "Act"), which entered into force on 11 January 2024, is a comprehensive piece of legislation aimed at fostering a fair and competitive digital environment in the European Union. It focuses on ensuring that data is shared more effectively, while protecting the rights of individuals and businesses. In this article, we look into the switching and interoperability provisions of the Act, as well as provisions designed to phase out egress fees and prevent unlawful international government...

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In this week’s Roar: No intervention coming for ports, global fallout from a strike, new de minimis rules, building charging infrastructure, and declining U.S. freight volumes. A possible port strike in the U.S. is the big story in supply chain right now. The Biden administration has said it will not be stepping in to mediate the International Longshoremen’s Association (ILA) dispute. With the October 1 strike deadline fast approaching, the government is encouraging both parties to continue their negotiations, despite the fact...

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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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