22 Jul
Member News, Trade & TTIP Related

Jaguar Freight | The Weekly Roar – Sky-rocketing container rates, ILA contract negotiations have stalled, UK and EU trade relations, sustainability no longer a priority, and the concept of extreme scenario planning

Container shipping rates have doubled since February in some key lanes and continue to rise — but remain well below the peak reached during the pandemic. Rising rates are leading to frustration among importers and raising concerns about a cost bubble. The main reason for the increase is, not surprisingly, the continued closure of the Suez Canal due to attacks by Yemeni rebels, forcing ships to take a longer route around Africa which is creating a need for more ships...

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19 Jul
Member News

Vulcan View: The latest EU developments 15 July – 19 July

What’s in store for von der Leyen’s second term in the Berlaymont European Commission President was elected for a second term on Thursday (18 July) in Strasbourg. Although it was expected to be a very close call, von der Leyen received 401 votes, well above the 361-vote threshold. The vote shows that 284 lawmakers voted against her re-election, while there were 15 abstentions and 7 void. Her vote was successful following the Greens’ announcing just before the vote that they would...

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18 Jul
Chapter News

European Commission | Statement by President von der Leyen at the joint press conference with President Metsola following the European Parliament Plenary vote

Thank you very much, dear Roberta, Good afternoon to everyone, I guess you have heard my speech, and you might have read the Political Guidelines. So you can imagine that this is a very emotional and special moment for me now. I just want to make three very short remarks before moving on to your questions. The first one is a more personal remark. I cannot begin without expressing how grateful I am for the trust and the confidence of the majority...

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18 Jul
Chapter News

IMF | Europe Can Better Support Venture Capital to Boost Growth and Productivity

Reforms could increase investment in high-tech startups that power innovation Blog post by Nathaniel Arnold, Guillaume Claveres, Jan Frie | The European Union has a productivity problem. Its people produce nearly 30 percent less per hour worked than they would have, had real output per hour worked increased in line with that in the United States since 2000. A failure to sufficiently develop innovative startups into “superstar” firms is one of the reasons for the bloc’s poor productivity growth. Europe’s fragmented economy and financial system...

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18 Jul
Member News

Bannockburn Global Forex | Euro Trades Quietly Ahead of ECB Meeting

Jury duty assignment prevents a more comprehensive note, but here is a snapshot.  Overview: The US dollar enjoys a firmer bias today, in mostly quiet turnover in narrow ranges. The Australian dollar is a noted exception, and the better than expected jobs growth may have lent it some resilience today. The greenback initially was sold to almost JPY155.35, a new low (since June 7) before recovering to nearly JPY156.60 in Europe. The UK's employment report saw the first payroll growth in...

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18 Jul
New York Related News

New York State Governor | Governor Hochul Announces Start of Construction on New York’s Largest Offshore Wind Project

924-Megawatt Sunrise Wind to Power Approximately 600,000 Homes Once Completed in 2026 New York’s Fifth Offshore Wind Solicitation Now Open with Proposals Due September 9 Governor Hochul today announced the start of construction on New York’s largest offshore wind project, Sunrise Wind, a 924-megawatt project developed by Ørsted. Once completed, the project will provide enough clean energy to power approximately 600,000 New York homes. Building on New York’s 10-Point Action Plan, the Governor also announced the issuance of New York’s fifth offshore...

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18 Jul
Member News

Pérez-Llorca | Insurance Market Update

BBVA’s takeover bid for Sabadell would ultimately impact existing bancassurance partnerships with Allianz and Zurich respectively In early May, the Spanish bank BBVA made an initial all-share offer for Sabadell to merge, which was rejected by Sabadell’s board, prompting BBVA to turn hostile and take the offer directly to Sabadell’s shareholders. BBVA’s bid is subject to a minimum acceptance threshold of 50.01% of Sabadell’s shareholders in addition to the relevant regulatory approvals required for both the takeover bid and the...

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16 Jul
Member News

Stephenson Harwood | The Neural Network – July 2024

Welcome to the first edition of the Neural Network. The Neural Network is Stephenson Harwood's monthly round-up of developments in AI, covering three key areas relevant to professionals working in the AI space: New regulation and public body updates; Enforcement and litigation; and Updates and case studies on the use of AI technology. In this edition, we look at key AI developments from June and July 2024. We examine the final text of the EU AI Act that was recently...

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16 Jul
Chapter News

IMF | Global Growth Steady Amid Slowing Disinflation and Rising Policy Uncertainty

Blog post by Pierre-Olivier Gourinchas | Our global growth projections are unchanged at 3.2 percent this year and slightly higher at 3.3 percent for next year, but there have been notable developments beneath the surface since the April World Economic Outlook. Growth in major advanced economies is becoming more aligned as output gaps are closing. The United States shows increasing signs of cooling, especially in the labor market, after a strong 2023. The euro area, meanwhile, is poised to pick...

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15 Jul
Member News

Pérez-Llorca and Mexican law firm González Calvillo complete their merger

The partners of both firms have voted in favour of the merger at their respective meetings, and the relevant regulatory approvals have been obtained The integration is the first cross-border merger between a leading Iberian law firm and a top-tier Mexican practice The project aims to create the leading legal practice in Mexico, serving clients on both sides of the Atlantic, large multinationals and financial sponsors, as well as other international law firms Pérez-Llorca and González Calvillo have completed...

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