The global economy accelerated during the summer months after the virtual halt of economic activity in Q2/2020. During the third quarter, consumer sentiment brightened, household spending increased, and Purchasing Manager Indices (PMIs) in the manufacturing and services sector rose above 50 indicating the economic expansion should continue in the coming months. The beginning of the fourth quarter seems to be going well although October flare-ups in COVID-19 cases in Europe and the US are beginning to influence economic sentiment. Meanwhile,...

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The risk of COVID-19 transmission falls as physical distance between people increases. Innovative approaches to contact tracing help keeping a safe distance, and the European Investment Bank (EIB) supports that innovation. The EU bank and KINEXON, a Munich-based global technology leader that develops hardware and software solutions, have signed a €15 million venture debt loan to promote KINEXON’s real-time localisation technology, which enables objects or people to interact in a smarter, more efficient way using the internet of things...

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Wilson Sonsini recently hosted a discussion regarding this topic - and you can find the recording, plus the presentation materials here: Data Transfers Post-Schrems ll Webinar Recording | On November 12, 2020, the European Commission (EC) issued a draft version of a new set of Standard Contractual Clauses (New SCCs). The long-awaited New SCCs include several modules that companies can use depending on the transfer scenarios, such as controller-to-controller, controller-to-processor, and processor-to-processor data exports. The New SCCs have also been updated to reflect...

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