10 Feb
Chapter News

Federal Reserve Board announces the second extension of a rule to bolster the effectiveness of the Small Business Administration’s Paycheck Protection Program (PPP)

The Federal Reserve Board on Tuesday announced the second extension of a rule to bolster the effectiveness of the Small Business Administration's (SBA) Paycheck Protection Program (PPP). Like the earlier extensions, this one will temporarily modify the Board's rules so that certain bank directors and shareholders can apply to their banks for PPP loans for their small businesses. To prevent favoritism, the Board limits the types and quantity of loans that bank directors, shareholders, officers, and businesses owned by these...

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10 Feb
Chapter News

ECB | Speech: Evolution or revolution? The impact of a digital euro on the financial system

Speech by Fabio Panetta, Member of the Executive Board of the ECB, at a Bruegel online seminar | Throughout history, innovations in money have challenged and altered the structure of the financial system. Time and time again, innovations have given rise to debates about the risks they pose and the rewards they bring, as well as the role of central banks in building confidence in money. Paper banknotes are a case in point. As they were easy to carry, they made...

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10 Feb
Member News

Osborne Clarke | ESG: The view from Europe

Environmental, Social and Governance (ESG) factors are playing an increasingly important role in the evaluation of investments, suppliers and corporate performance across the globe, with a particular emphasis on the "E". This is a trend we expect to grow rapidly in the coming year. In the US, the new administration has already committed to sustainability, requiring action on emissions reductions and deep structural change from America's industrial and energy base. In Europe, the ESG ecosystem has been developing for a...

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10 Feb
Member News

Ogletree | COVID-19–Related Employment Litigation: How It Started … How It’s Going

Over 2,500 COVID-19–related employment lawsuits were filed in the United States in 2020. Ogletree Deakins’ Interactive COVID-19 Litigation Tracker highlights the industries impacted, locations, and types of claims in these matters. The healthcare industry is outpacing other industries by almost double for the most COVID-19–related employment litigation thus far. The hospitality, manufacturing, and retail industries have also been heavily impacted. These trends are not surprising, given that it is often difficult for employees in these frontline industries to socially distance themselves from...

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10 Feb
Chapter News

USCIS Modifies H-1B Selection Process to Prioritize Wages

Rule Expected to Protect the Economic Interests of American Workers | WASHINGTON—U.S. Citizenship and Immigration Services has announced a final rule that will modify the H-1B cap selection process, amend current lottery procedures, and prioritize wages to protect the economic interests of U.S. workers and better ensure the most highly skilled foreign workers benefit from the temporary employment program. Modifying the H-1B cap selection process will incentivize employers to offer higher salaries, and/or petition for higher-skilled positions, and establish a more certain path...

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10 Feb
Member News

CLA | VERY Frequently Asked Questions About the Expanded Employee Retention Credit

Key insights New legislation brought changes to the employee retention credit, including updates to the quarterly comparison dates you can use to qualify. Certain S corporation owners may claim the credit for their own wages, but there are restrictions. Review the interplay of ERC, PPP loans, Families First, WOTC and other wage-related credits to help protect yourself from issues related to double-dipping. The Consolidated Appropriations Act, 2021 (CAA 2021) broadened the applicability of the employee retention credit (ERC), bringing eligible employers greater...

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09 Feb
Chapter News, Trade & TTIP Related

OECD | Services trade restrictions increased in 2020, compounding COVID-19 economic shock

The global regulatory environment for services trade became more restrictive in 2020, with new barriers compounding the shock of the COVID-19 pandemic on exporters, according to a new OECD report. OECD Services Trade Restrictiveness Index (STRI): Policy trends up to 2021 shows an increasing pace in the erection of new barriers to services trade across all major sectors. New restrictions are affecting services traded through a range of commercial establishments, in sectors including computer services, commercial banking and broadcasting. Global...

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09 Feb
Chapter News

Intellectual Property and Digital Transition Conference – 11 February

The Portuguese IP office (INPI) is organising a virtual high-level conference on Intellectual Property and Digital Transition, on 11 February 2021. Under the theme of ‘The Intellectual Property metamorphosis in the Age of Digital Transition - Remember the past, Act in the Present, and Reflect on the challenges of the Future’, the conference will focus on two central themes: digital transition and intellectual property. The event has been organised within the framework of activities of Portugal’s presidency of the Council of the...

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09 Feb
Chapter News

Southern Neighbourhood: EU proposes new Agenda for the Mediterranean

To relaunch and strengthen the strategic partnership between the European Union and its Southern Neighbourhood partners, the European Commission and the High Representative today adopted a joint communication proposing an ambitious and innovative new Agenda for the Mediterranean. The new Agenda is based on the conviction that by working together and in a spirit of partnership, common challenges can be turned into opportunities, in the mutual interest of the EU and its Southern neighbours. It includes a dedicated Economic and Investment...

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09 Feb
Member News

EIB Group activity in Portugal: highest lending volumes since 2014

In 2020, the EIB Group supported 27 operations in Portugal for a total volume of more than €2.3 billion, an increase of 44% compared to 2019. Portugal was the 4th EU country benefiting the most from EU bank’s support as a percentage of GDP and it ranks 9th in absolute terms. 56% of total EIB Group lending activity in the country was for COVID-19-related projects. Portugal was the 4thlargest beneficiary of the EIB Group’s financial support for small and medium-sized...

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