12 Jan
Member News

Fenwick | BIS Publishes New FAQs Related to Updated Advanced Computing/Supercomputing Rules

What You Need To Know The Commerce Department’s Bureau of Industry and Security (BIS) has published new FAQs that offer further guidance on two interim final rules that went into effect in November 2023. These rules, for which the BIS is accepting comments until January 17, 2024, expand export controls related to advanced computing and semiconductors, aimed at China and other national security concern countries. The just-published FAQs offer guidance on several areas, including: the new export license exception...

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12 Jan
Chapter News

OECD | The Global Minimum Tax and the taxation of MNE profit – Summary

Background: The Global Minimum Tax (GMT) represents a major step forward in international cooperation on the taxation of multinational enterprises (MNEs). It will ensure that MNEs with revenues above EUR 750 million are subject to a 15% effective minimum tax rate wherever they operate. The GMT, introduced by the Global Anti-Base Erosion (GloBE) Rules, is a key part of Pillar Two of the two-pillar solution. Agreed by over 135 member jurisdictions of the OECD/G20 Inclusive Framework on Base Erosion...

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11 Jan
New York Related News

Troutman-Pepper | New York LLC Transparency Act Enacted

The New York LLC Transparency Act (NYLTA) was signed into law on December 22, 2023. Upon effectiveness on January 1, 2025, all limited liability companies (LLC) that are either formed under New York law or are seeking authority to do business in New York, will be required to disclose, among other information, the identities of their beneficial owners to the NY Department of State, unless a reporting exemption applies. Such beneficial ownership information will be compiled into an internal...

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11 Jan
Chapter News

European Council | Strategic Technologies for Europe Platform: Council agrees its partial negotiating mandate

Member states’ EU ambassadors today agreed on the Council’s partial negotiating mandate on the proposed Strategic Technologies for Europe Platform (STEP). The platform will support investments in critical technologies in the fields of digital and deep tech, clean tech and biotech in the EU. It will reduce the EU’s strategic dependencies and enhance its long-term competitiveness. The Council’s negotiating mandate is partial, because its position on additional financial support for STEP will depend on the final outcome of the horizontal negotiations...

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10 Jan
Chapter News

IMF | How Training and Advice Can Speed Cross-Border Payments and Cut Costs 

Cheaper cross-border payment services would benefit people and economies worldwide Kieran Murphy January 3, 2024 Faster, cheaper, and more transparent cross-border payment services have the potential to improve many lives by supporting economic growth, international trade, global development, and financial inclusion. The Group of Twenty has prioritized such progress. That’s because the financial links between countries, particularly between emerging market and developing economies, face several challenges that must be addressed, including high costs and inconsistent charges depending on the countries being linked, as we explore...

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10 Jan
Chapter News, New York Related News

New York FED – Inflation Expectations Decline Across All Horizons

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the December 2023 Survey of Consumer Expectations, which shows that inflation expectations declined at the short-, medium- and longer-term horizons. Notably, inflation expectations at the short-term horizon reached the lowest level recorded since January 2021. Earnings growth and spending growth expectations also decreased slightly to their lowest recorded levels since 2021, while expectations about credit access and households’ financial situation turned less pessimistic. The main findings...

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10 Jan
Member News

BBGFX | Don’t be Burned in the Churn

Overview: The broad consolidation in the dollar after the gyrations at the end of last week continues, and within it the greenback is a bit softer today. Among the G10 currencies, only the yen is failing to post gains. Most emerging market currencies, led by central Europe, are also firmer today. The market's focus is on tomorrow's US CPI. Meanwhile, the US 10-year yield is lower for the third consecutive session and is below the 4% threshold ahead of today's...

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10 Jan
Member News

TREPP | European Market Update: Rate Cuts; CLO Spreads Tightened in 2023; CRE Outlook Positive

The upcoming year is poised for a global interest-rate cut, which will reverse the previous aggressive tightening seen in 2022 and 2023. Central banks around the world should begin easing monetary policy as inflation continues to retreat, led by the US Federal Reserve, which plans to reduce interest rates by 75 basis points by the end of 2024, according to Bloomberg.  The federal funds rate is expected to be at 4.25% at the end of 2024 and the European Central Bank...

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10 Jan
Member News

EIB | New report finds mid-caps’ untapped potential is vector for European growth and digital and economic transition

Mid-caps, i.e. firms with between 250 and 3 000 employees, represent a significant part of the European economy, contributing substantially to turnover, employment and value creation across the continent. Their commitment to workforce development is remarkable, with a significant majority of mid-caps investing in training and skills development, higher than for most other firms. The lack of a consistent definition and statistical clarity surrounding mid-caps hinders their analysis and the formulation of targeted policies, as well as their success. The...

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10 Jan
Chapter News

ECB | Inflation in the eastern euro area: reasons and risks

Inflation in the eastern euro area: reasons and risks 10 January 2024 By Matteo Falagiarda Within the euro area, countries in central and eastern Europe have recently experienced the highest inflation rates. But why, exactly? The ECB Blog looks at the reasons for these higher prices and highlights the resulting risks and vulnerabilities. Since 2021 inflation in euro area countries in central and eastern Europe (EACEE) has significantly outpaced that of the euro area as a whole. The differentials have narrowed in recent months...

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