29 Jun
Chapter News

EIB’s new Nov-47 EUR CAB is the longest ever green bond

On Wednesday 28th June 2017, the European Investment Bank (EIB), owned by the EU Member States and rated Aaa/AAA/AAA (Moody’s / Standard and Poor’s / Fitch), launched a new EUR 1bn Climate Awareness Bond (CAB) 2047. The issue has a final maturity date of 15 November 2047, making it the longest ever green bond. The ultra-long 30-year bond carries an annual coupon of 1.5% and was priced at a final spread of mid swaps plus 5bp, equivalent to a spread...

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28 Jun
Member News

France Under Macron: What Does It Mean And What To Expect

France has just been through a major election period occurring every five years, which also marks a profound reshaping of its political landscape. The memo below outlines the main takeaways of these past few months and what it means for France as well as for the EU. Executive Summary • The election of President Macron marks a new stage in the reshaping of the French political framework, with the victory of an independent candidate transcending the classic Left/Right divide. • The Government...

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28 Jun
Chapter News

Reflection Paper On The Future Of EU Finances

Foreword On 1 March 2017, the European Commission published its White Paper on the Future of Europe as the starting point for an honest and wideranging debate on tomorrow’s Europe. To further contribute to this debate, the Commission is presenting a number of reflection papers on key topics that will shape Europe in the years to come. This paper – the final one in the series – focuses on the finances of a future Europe at 27 in a changing...

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28 Jun
Member News, New York Related News

Member Commentary: FinTech Fatigue? How Best Can Small Firms Really Change Financial Services

Blog by Feargal O'Sullivan, Chief Executive Officer, USAM Group (An EACC NY Member company) Banks and Brokerages talk a lot about all the new technology they’re working on, but in many ways, they seem to be actually holding change back, not ushering it in. FinTech is supposed to be changing the world of finance, so why do we still get checks, and why do they still take three days to clear? Financial Services was one of the first industries to embrace, and benefit...

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28 Jun
Chapter News

An EU budget fit for tomorrow: Commission opens debate on future of EU finances

Europeans expect their Union to do more. At a time when the EU is doing more than ever before to protect, empower and defend its citizens, resources continue to be stretched at the seams. As Europe decides on its future, the EU needs a budget that is fit for purpose and makes every euro work for its citizens. Published today, the Commission's reflection paper on the future of EU finances looks at the options to make that a reality. The issues...

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27 Jun
Member News, New York Related News

Update on Property Tax Issues: IPTI June 2017

The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep members up to date with the latest developments in property taxes both in the USA and Europe. IPTI has put together a selection of brief reports from articles contained in IPTI Xtracts which can be found on its website (www.ipti.org). European View As far as Europe is concerned, this month’s report includes articles on Greece, Ireland, Israel and the United Kingdom. There is a separate IPTI report on...

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27 Jun
Member News

DS-Concept: Announces Trade Finance Facility For High-Growth Toy Manufacturer In Texas

DS-Concept has provided a $3 million non-recourse factoring facility to a high-growth licensed toy manufacturer. The company is using DS-Concept’s factoring facility to expedite cash flow and facilitate its penetration into new overseas markets. As a seasonal business experiencing increasing demand from retail stores, the company saw DS-Concept as a better option than a traditional bank because of their ability to accommodate for growth and seasonality. The company, based in Texas, is a licensed manufacturer and distributor of several well-known...

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27 Jun
Chapter News

The European Commission has fined Google €2.42 billion for breaching EU antitrust rules

The European Commission has fined Google €2.42 billion for breaching EU antitrust rules. Google has abused its market dominance as a search engine by giving an illegal advantage to another Google product, its comparison shopping service. The company must now end the conduct within 90 days or face penalty payments of up to 5% of the average daily worldwide turnover of Alphabet, Google's parent company. Commissioner Margrethe Vestager, in charge of competition policy, said: "Google has come up with many...

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26 Jun
Member News

Bodhala News: Need Biglaw To Get To alt.legal? (Raj Goyle Didn’t)

Meet Harvard Law grad Raj Goyle, a high-end lawyer turned legal entrepreneur who never bothered with Biglaw Happy summer to all you lawyers out there — billing Biglaw hours, while searching for a better way. Today, I offer a glimmer of hope to associates wearing the golden handcuffs, and the law students who haven’t tried them on yet! While I have fond memories of my old firm, there is no question that life as a Biglaw associate is really really...

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26 Jun
Chapter News

Cecilia Malmstrom: Trade, Empowering Women

The EU is committed to gender equality and sustainable development. These values are in our DNA, in our founding principles, and they should be a natural part of our trade policy as well. For me, trade is about being open: About broadening horizons and opportunities, about bringing down barriers and empowering people. That means that we want more women involved in the labour market here in Europe, and we want to support women's economic independence around the world. Trade and...

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