Chapter News

Main Results: Economic and Financial Affairs Council, 9 November 2021

Economic governance and recovery Ministers exchanged views on the EU economy following the COVID-19 pandemic, and on the implications of recent developments for economic governance. They discussed the future of the EU’s economic governance framework and gave their initial views on the way forward. This topic will be discussed further and ministers will continue their consultations in order to reach a broad consensus in due course. Our efforts on boosting the economic recovery are taking effect. The EU’s response to the pandemic is...

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Chapter News, COVID-19 News

Coronavirus: EU Commission approves contract with Valneva to secure a new potential vaccine

Today, the European Commission approved the eighth contract with a pharmaceutical company with a view to purchasing its potential vaccine against COVID-19. The contract with Valneva provides for the possibility for all EU Member States to purchase almost 27 million doses in 2022. It also includes the possibility to adapt the vaccine to new variant strains, and for Member States to make a further order of up to 33 million additional vaccines in 2023. The contract with Valneva comes in...

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Chapter News

IMF | Soaring Metal Prices May Delay Energy Transition

Clean energy needs may cause years of high prices for copper, nickel, cobalt, and lithium under a net-zero emissions scenario. The world’s historic pivot toward curbing carbon emissions is likely to spur unprecedented demand for some of the most crucial metals used to generate and store renewable energy in a net-zero emissions by 2050 scenario. 'Prices could reach historical peaks for an unprecedented length of time—and even delay the energy transition itself.' A resulting surge in prices for materials such as cobalt...

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Member News

CLA | Infrastructure Innovation and Jobs Act Expected to be Enacted Soon

Key insights The Infrastructure Innovation and Jobs Act has passed the House and includes $550 billion in new federal spending over the next five years. The bill aims to renew current programs and provides financial support to infrastructure, transportation, clean energy, cybersecurity and other initiatives. The IIJA eliminates the employee retention tax credit for most employers as of September 30, 2021. Intended recipients may need to actively review the available opportunities to benefit from the Act. Let the building begin The Infrastructure...

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Member News

PSNGR1 | Start Saving on JetBlue Today

Announcing our exclusive business travel partnership with JetBlue Save up to 5% on all flights including newly launched London routes Includes discounts on Mint seats and suites Additional discounts on hotel and car rental bookings No commitments. No subscriptions. No fees. Just savings. Join Now Request a Demo About PSNGR1 PSNGR1 is a comprehensive next-gen corporate travel planning, booking and management platform with powerful admin tools integrated directly into the booking experience. Content Preferred discounts from air, hotel and car suppliers to drive savings! Control Smart, lightweight policies...

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Member News

Marks Paneth | Reminder: half of 2020 deferred FICA and Self-Employment Taxes are due December 31, 2021

In March of 2020, Congress passed the CARES Act which, among other things, allowed employers to defer the payment of their share of Federal Insurance Contributions Act (FICA) taxes for their employees for periods March 27, 2020, through December 31, 2020. The employer FICA tax is a 6.2% payroll tax on the first $137,700 of an employee’s wages paid during the calendar year. Employers who elected to defer paying their FICA taxes are required to pay half of the deferred...

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Member News

Steptoe | Losing Control: The Supreme Court Effectively Blocks Data Privacy Class Actions in the United Kingdom

On November 10, 2021, the Supreme Court of the United Kingdom (UKSC) issued its landmark judgment dismissing a US-style, opt-out, “class-action” against Google LLC. (Google). In doing so, the UKSC rejected the Claimants’ argument that the loss of control of personal data has an intrinsic value capable of compensation. Instead, the UKSC held that each Claimant must establish that they have personally suffered material damage (i.e., financial loss or mental distress) resulting from an alleged breach of the Data...

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Chapter News

U.S. FED | Remarks by Vice Chair Clarida on flexible average inflation targeting and prospects for U.S. monetary policy

November 08, 2021 | "Flexible Average Inflation Targeting and Prospects for U.S. Monetary Policy" by Vice Chair Richard H. Clarida at the Symposium on Monetary Policy Frameworks, The Brookings Institution, Washington, D.C. (via webcast) | Outlooks and Outcomes for the U.S. Economy The U.S. economy in the second quarter of this year made the transition from economic recovery to economic expansion.1 Given the catastrophic collapse in U.S. economic activity in the first half of 2020 as a result of the global pandemic...

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Chapter News

U.S. FED | Remarks by Governor Bowman on the U.S. housing and mortgage market

November 08, 2021 | "The U.S. Housing and Mortgage Market: Risks and Resilience" by Governor Michelle W. Bowman at the Women in Housing and Finance Public Policy Luncheon, Washington, D.C. | Good afternoon, everyone. It is a pleasure to join you today. Thank you for the invitation. Developments in the housing and mortgage markets have a major effect on the economy and the financial system, so the Federal Reserve Board monitors these markets closely. I am happy to share some...

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Brexit News, Member News

Vulcan Insight | Franco-British tensions continue as article 16 threat looms

21 months on from the fight about the EU-UK Withdrawal Agreement and only a bare 6 months after the much-negotiated post-Brexit EU-UK Trade and Cooperation Agreement entered into effect, tensions between the UK Government and both, the European Commission and the French Government, continue to persist over the Northern Ireland Protocol and fishing rights. After months of talks and rhetorical fire over the function of the Northern Ireland Protocol under EU-UK Withdrawal Agreement, UK Brexit Minister David Frost and European...

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