17 Sep
Chapter News

IMF: Sluggish Global Growth Calls for Supportive Policies

By Gita Gopinath IMF In our July update of the World Economic Outlook we are revising downward our projection for global growth to 3.2 percent in 2019 and 3.5 percent in 2020. While this is a modest revision of 0.1 percentage points for both years relative to our projections in April, it comes on top of previous significant downward revisions. The revision for 2019 reflects negative surprises for growth in emerging market and developing economies that offset positive surprises in...

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17 Sep
Chapter News

Remarks by Mário Centeno following the Eurogroup meeting

Good afternoon, let me start by thanking our Finnish friends for hosting us here in Helsinki. Today we welcomed two newcomers in our group. Christos Staikouras from Greece and Roberto Gualtieri from Italy. We heard their policy priorities for the near future and their commitment with policies that contribute to preserving the stability of the euro. I should note that Roberto is no stranger to the group as he attended the Eurogroup before in his previous capacity as ECON Chair...

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17 Sep
Member News

Tradewind Appoints Jose E. Roca as Senior Vice President

Tradewind today announced that Jose Roca has joined the team as Senior Vice President in the firm’s New York office. Jose will be responsible for expanding the company’s sales base and program offerings. Jose has over 20 years’ experience as a senior banking executive on the asset-based lending side along with experience providing working capital facilities for refinancing, restructurings, turnarounds and acquisitions. He joins Tradewind from People’s United Bank where he was SVP Business Development. Prior to joining People’s United...

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17 Sep
Brexit News, Member News

Deal or No Deal, How Will Brexit Affect Employee Work Authorizations in the UK?

By Darren Isaacs and Dónall Breen As the current Brexit deadline of October 31, 2019 looms, employers with operations in the United Kingdom must prepare for various possible outcomes, including the potential for a no-deal break with the European Union. Given the frequent movement of workers of all nationalities across the EU, many UK employers are particularly concerned about regulations governing work authorizations for their employees. As they wait for the political process to play out, UK employers should familiarize themselves...

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16 Sep
Member News

New IRS Procedure Provides Favorable Path for Non-Compliant Expatriates to Become Tax Compliant

In the "Relief Procedures for Certain Former Citizens" and accompanying FAQs, the Internal Revenue Service (IRS) provides a simplified pathway for certain non-compliant U.S. citizens who expatriated after March 18, 2010, to become U.S. tax and reporting compliant. In short, under this new procedure, U.S. citizens who expatriated, were non-willful in their failure to file U.S. income or gift tax returns and associated international information returns, owed a limited amount of back taxes (not in excess of $25,000) and had...

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13 Sep
Member News

How Safe Is That Harbor? The Impact of the Defend Trade Secrets Act’s Whistleblower Immunity Provision on a Trade Secret Owner’s Ability to Protect Its Trade Secrets

Imagine that your company has just commenced an internal compliance investigation in response to an allegation that the company is violating various federal laws. The next day, a longtime employee with access to the company’s crucial trade secrets is seen removing duffle bags of documents. Moreover, the IT department examines his network activity and reports that he has downloaded thousands of documents onto a thumb drive. Shortly thereafter, an attorney for the employee contacts your litigation department and states that...

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13 Sep
Chapter News, News

World Bank Group Debars Ingeniería Especializada Obra Civil e Industrial S.A.U.

The World Bank today announced the 28-month debarment of Spanish engineering company Ingeniería Especializada Obra Civil e Industrial S.A.U. in connection with corrupt, collusive and fraudulent practices in the World Bank-financed National Roads and Airport Infrastructure Project in Bolivia. At the time of the misconduct, the firm’s name was Acciona Ingeniería S.A., and it operated in Bolivia through a branch office. The debarment makes Ingeniería Especializada Obra Civil e Industrial S.A.U. ineligible to participate in World Bank-financed projects. The debarment...

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13 Sep
Member News

Vulcan Insight Analysis of the latest EU Developments 9-13 September 2019

New College of European Commissioners announced On 10 September European Commission President-elect Ursula Von der Leyen presented her new team of Commissioners-designate, as well as a revamped structure for the institution. The key issues the Von der Leyen Commission will seek to address include changes in climate, technology and demographics. Von der Leyen was keen to address equality in the distribution of portfolios and executive Vice Presidencies – between East and West, North and South, and men and women. She has...

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12 Sep
Chapter News, News

A Capital Market Union for Europe: Why It’s Needed and How to Get There

When savers and firms invest and borrow beyond their national borders, they enjoy opportunities to diversify their portfolios and lower their funding costs, respectively. In Europe, this idea—of an integrated financial system that offers a richness of financing choice—remains an elusive goal: capital markets are far from integrated. <!--more--> Our recent research finds that European finance is still sharply segmented along national lines, with savers and investors depending heavily on national banking systems. Although the landscape is dotted with many different...

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12 Sep
Chapter News, News

Higher education needs to step up efforts to prepare students for the future

Demand for tertiary education continues to rise, but its further expansion will only be sustainable if it matches the supply of graduates with labour market and social needs and gives them the skills required to navigate the future, according to a new OECD report. Education at a Glance 2019, which is part of the Organisation’s “I am the Future of Work” campaign, finds that 44% of 25-34 year-olds held a tertiary degree in 2018, compared to 35% in 2008, on...

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