06 Dec
Chapter News

ECB | How to turn European savings into investment, innovation and growth

Contribution by Christine Lagarde, President of the ECB to The Economist A fragmented financial infrastructure means that Europe gets less bang for its euro Europe is not short of ideas, innovators or savings. Europeans save more of their income than Americans, and their share in global patent applications is close to that of the United States. But Europe often struggles to turn ideas into new technologies that can drive growth. One reason is that it is much less able than the...

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06 Dec
Member News

Vulcan View: The latest EU developments 2 December – 6 December

EU extends compliance timeline for landmark Deforestation Regulation On 3 December, the European Parliament and the Council of the EU reached a provisional agreement to postpone the implementation of the EU’s Regulation on deforestation-free products by one year. This delay extends the deadline for compliance to December 2025 for large companies and June 2026 for SMEs. The decision followed feedback from member states, European political groups, businesses, and non-EU countries, citing challenges in meeting due diligence requirements by the original deadline. The delay...

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05 Dec
Member News

Cilcare completes a €40M series A

The funds will support two Phase 2a clinical trials for the drug candidate CIL001, targeting cochlear synaptopathy (a leading cause of difficulty understanding speech in noise, tinnitus, and hyperacusis), as well as the advancement of preclinical development for the candidate CIL003. The company will enhance its R&D platform capabilities and establish new strategic partnerships to expand and diversify its portfolio of treatments for hearing disorders. A special focus will be placed on leveraging advanced artificial intelligence to identify...

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05 Dec
Chapter News

OECD | Economic Outlook: Global growth to remain resilient in 2025 and 2026 despite significant risks

The global economy is projected to remain resilient despite significant challenges, according to the OECD’s latest Economic Outlook. The Outlook projects global GDP growth of 3.3% in 2025, up from 3.2% in 2024, and 3.3% in 2026. Inflation in the OECD is expected to ease further, from 5.4% in 2024 to 3.8% in 2025 and 3.0% in 2026, supported by the still restrictive stance of monetary policy in most countries. Headline inflation has already returned to central bank targets in nearly...

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05 Dec
Chapter News, Member News

European Commission | Commission and EIB announce new partnership to support investments in the European battery manufacturing value chain

Today, the European Commission and the European Investment Bank (EIB) are announcing a new partnership to support investments in the EU's battery manufacturing sector. This partnership will see a €200 million top-up (loan guarantee) to the InvestEU programme from the EU Innovation Fund. It comes in addition to €1 billion in grants to support electric vehicle battery cell manufacturing projects via the Innovation Fund, also announced today. As part of the new partnership, the EIB envisages investing a further €1.8 billion in...

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05 Dec
Chapter News

IMF | The 2004 EU Enlargement Was a Success Story Built on Deep Reform Efforts

New accession candidates will need to undertake equally ambitious reforms to make the next expansion a comparable success Poland is one of the success stories of European economic convergence. The country, which in January takes the reins of the Council of the European Union (the decision-making institution representing the Union’s member states) is now the EU’s sixth largest economy. This convergence process was driven by the 2004 EU enlargement, which also welcomed the Czech Republic, Cyprus, Estonia, Hungary, Latvia, Lithuania,...

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05 Dec
Member News

Anchin | Understanding the Impact of the Supreme Court Decision in Connelly v. United States on Business Planning and Estate Tax

On June 6th, 2024, the United States Supreme Court upheld the 8th Circuit Court of Appeals opinion in Connelly v. United States, a case involving the estate tax and the valuation of shares in a closely held corporation. The ruling has significant implications for business owners with buy-sell agreements funded by life insurance, making it crucial to understand how this ruling impacts business owners’ estate planning and tax strategies. The Court ruled that life insurance proceeds used to fund the redemption...

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03 Dec
Chapter News

European Commission | New Eurobarometer survey shows record high trust in the EU in recent years

The latest Eurobarometer released today reveals the highest level of trust in the European Union since 2007 and the highest-ever support for the euro. The survey also shows that Europeans have a more optimistic view about the future. They would like to see a stronger and more independent EU, especially in the face of the current global challenges. Trust in the EU is at its highest level in 17 years 51% of Europeans tend to trust the EU, the highest result...

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03 Dec
Chapter News

Council of the EU | Global Gateway: Council endorses flagship project list for 2025

The Council of the EU has endorsed 46 Global Gateway flagship projects for 2025. The projects identified as flagships by EU member states’ ambassadors are prominent examples of Global Gateway deliverables in the areas of digital, climate and energy, transport, health, education and research. This selection of key initiatives helps to showcase the comprehensive support the EU and its member states offer to partners across the globe in terms of the sectors of activities, as well as the countries and regions concerned. The...

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03 Dec
Member News

Bannockburn Global Forex | December 2024 Monthly

The trends were already entrenched before the US election and continued through most of last month. The trend toward higher rates and higher equities stalled, while the dollar remained strong. Investors and business continue to wrestle with the implications of the Republican sweep in the US elections. There are two broad issues that are the source of uncertainty. The first is the broad tariff Trump has advocated on the campaign trail: 60% on China and 10-20% on rest of the...

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