16 May
Member News

BBGFX | Week Ahead: Does the Dollar have Legs?

There are different ways to measure it, but the dollar just put in its best week of the year. The greenback rose against all the G10 currencies, and the Dollar Index rose by the most since last September. It also appreciated against most emerging market currencies, with the notable exceptions of a handful of Latam currencies. It seems to be an overdue technical correction. Few genuinely believe that the US will default given the ominous consequences, but the dysfunctional...

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16 May
Chapter News

Spring 2023 EU Economic Forecast: An improved outlook amid persistent challenges

The European economy continues to show resilience in a challenging global context. Lower energy prices, abating supply constraints and a strong labour market supported moderate growth in the first quarter of 2023, dispelling fears of a recession. This better-than-expected start to the year lifts the growth outlook for the EU economy to 1.0% in 2023 (0.8% in the Winter interim Forecast) and 1.7% in 2024 (1.6% in the winter). Upward revisions for the euro area are of a similar...

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15 May
Brexit News, Chapter News

ECB | The impact of Brexit on UK trade and labour markets

1 Introduction It has been almost two and a half years since the United Kingdom signed its post-Brexit trade deal with the European Union (EU), which was expected to have multifaceted impacts on the UK economy. The EU-UK Trade and Cooperation Agreement (TCA) was signed on 30 December 2020 and came into effect provisionally on 1 January 2021. Leaving the EU’s Single Market and the EU Customs Union represented a profound change in the economic relationship. This change was expected...

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15 May
Member News

IPTI | Update on U.S. & EU Property Tax Issues: May 2023

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together below a selection of articles from IPTI Xtracts; more articles can be found on its website (www.ipti.org). UNITED STATES Illinois: Cook County’s property tax system needs reform. Here’s how to fix it. Accuracy in assessments, fair hiring, reforming the tax appeals process are some measures that must...

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12 May
Chapter News

EU Parliament | AI Act: a step closer to the first rules on Artificial Intelligence

Once approved, they will be the world’s first rules on Artificial Intelligence MEPs include bans on biometric surveillance, emotion recognition, predictive policing AI systems Tailor-made regimes for general-purpose AI and foundation models like GPT The right to make complaints about AI systems To ensure a human-centric and ethical development of Artificial Intelligence (AI) in Europe, MEPs endorsed new transparency and risk-management rules for AI systems. On Thursday, the Internal Market Committee and the Civil Liberties Committee adopted a draft negotiating...

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12 May
Member News

Vulcan Insight | Fit for 55: MEPs aim to boost methane emission reductions

Earlier this week, the European Parliament adopted its position on a new law targeting methane emissions reduction from the energy sector, aiming to achieve the EU’s climate goals and improve air quality. This law, the first of its kind in the EU, focuses on reducing methane emissions from the oil, fossil gas, coal, and biomethane sectors. Members of Parliament (MEPs) also propose including the petrochemicals sector in the scope of the new rules. Methane is a potent greenhouse gas responsible for about one-third of...

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11 May
Member News

Troutman Pepper | More Privacy, Please – May 2023

Editor's Note: Indiana became the latest state to enact a comprehensive privacy law, with Montana and Tennessee close behind. Washington passed sweeping legislation — the My Health My Data Act — which included a private right of action. At the federal level, the CFPB announced a breach of sensitive personal information. In U.S. litigation, the Third Circuit held that the number of visitors to an online privacy policy was relevant to whether the privacy policy was sufficiently user-friendly, the...

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11 May
Chapter News

IMF | Europe, And the World, Should Use Green Subsidies Cooperatively

A coordinated approach, including toward subsidies, is needed to tackle climate change successfully Governments across the world are using subsidies to support the green transition. Green subsidies can be helpful where there are market failures. When carbon emissions are underpriced in relation to their true cost to society or preferable policy solutions (such as carbon pricing) are not in place, subsidies can steer businesses and consumers towards clean technologies that are less polluting while also lowering the costs of those...

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10 May
Chapter News

ECB | Interview with Christine Lagarde, President of the ECB, conducted by Shogo Akagawa on 8 May 2023

You repeatedly mentioned at the last press conference that the inflation outlook continues to be “too high for too long”. How strong is the upside risk of inflation in the eurozone? There are factors that can induce significant upside risks to the inflation outlook. And we are still in a situation where uncertainty about the path of inflation is high, so we have to be extremely attentive to those potential risks, the exact list of which you will find...

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10 May
Member News

ACG Resources | New FTC Rule Restricts Employee Non-compete Clauses

A non-compete clause is a “contractual term between an employer and a worker that blocks the worker from working for a competing employer, or starting a competing business, typically within a certain geographic area and period of time after the worker’s employment ends.” This is the definition of a non-compete clause directly from the Federal Trade Commission (FTC). This year may finally be the year non-compete clauses bite the dust, however, after decades of organizing/effort by employees and labor...

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