19 Jul
Chapter News

EU priorities at the United Nations and the 71st UNGA

The Council adopted the EU priorities at the United Nations and the 71st United Nations General Assembly (September 2016 - September 2017). The coming year will be focused on consolidation and implementation of the agreements reached in the past year. These include the 2030 agenda for sustainable development, the Addis Ababa action agenda of the third international conference on financing for development and the Paris climate agreement. The priorities mention that the EU remains committed to strengthening the United Nations...

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19 Jul
Chapter News

Ambassador Froman Announces New Digital Trade Working Group

Today, U.S. Trade Representative Michael Froman announced the creation of a Digital Trade Working Group within the Office of the U.S. Trade Representative. The group will serve as a “Rapid Response” team to identify and combat barriers to digital trade and promote sound policies to advance global digital trade around the world. Led by Ambassador Robert Holleyman and composed of USTR staff with expertise in e-commerce, telecommunications, services, intellectual property, innovation, and industrial competitiveness, the group will work to...

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19 Jul
Chapter News

UN officials spotlight need to move from commitments to results on Global Goals

Every country must accelerate the implementation pace of the 'ambitious and transformative' development agenda adopted by United Nations Member States nearly one year ago, by boosting efforts to overcome persistent challenges, new obstacles and unforeseen setbacks in today's turbulent world, the UN Deputy Secretary-General Jan Eliasson today declared. “Achieving the SDGs is a monumental task. There is no country in the world where all people have equal opportunities to fulfil their aspirations. Every country has poverty and inequalities to...

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18 Jul
Chapter News

European Commission outlines new support package worth €500 million for European farmers

This comprehensive support package is further evidence of the Commission's continued commitment to the agricultural sector across the EU. The European Commission has today presented a new package of measures worth €500 million from EU funds to support farmers in the face of ongoing market difficulties, particularly on the dairy market. The measures were presented to the Council of EU Agriculture Ministers by Commissioner for Agriculture and Rural Development, PhilHogan: "Coming at a time of significant budgetary pressures, this package provides...

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18 Jul
Chapter News

Member State compliance with EU law improving, but more work ahead to unleash full potential of Single Market

The European Commission has reiterated its commitment to ensure the effective application of the whole range of European legislation and, in particular, the world's biggest single market of 500 million citizens. The Annual Report provides a clear picture on how the Commission monitored and enforced European Union law in 2015 and the Single Market Scoreboard reveals that barriers to the free movement of persons, services, goods and capital in the EU are being eliminated in most areas. The constructive compliance...

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15 Jul
Member News

Trading Alert: Huge Chicago Office Loan Said to Be Modified

According to this morning's Commercial Mortgage Alert, the CMBS loan backed by the 1.7 million square-foot Chicago office at 131 South Dearborn (also known as the Citadel Center) has been modified. The piece notes that Angelo, Gordon & Co. and Hines have recapitalized the property with a pledge of $50 million of new equity. The $472 million in CMBS debt has been modified as well. The new terms split the loan into a $400 million senior note and a $72...

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15 Jul
Member News

The EU-U.S. Privacy Shield officially adopted

The New York office of the Dutch law firm Houthoff Buruma offers clients and colleagues in the US selected news items about relevant legal developments in the Netherlands, the European Union and the Dutch Caribbean. Please email managing partner Helena Sprenger if you have any questions. The EU-U.S. Privacy Shield officially adopted On July 12, 2016 the EU-U.S. Privacy Shield was adopted by the European Commission, providing a new framework and legal basis for EU-U.S. personal data transfers. U.S. companies will be...

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15 Jul
Member News

Recent BEPS related legislation/guidance impacting Luxembourg

Recently a set of BEPS related draft legislation/guidance has been published: (i) On 21 June 2016, the Council of the European Union (“EU”) agreed on the draft Anti-Tax Avoidance Directive (“ATAD”); (ii) On 22 June 2016 a bill of law regarding the adoption of a Protocol amending the US/Luxembourg double tax treaty (“Protocol”) was filed with the Luxembourg Parliament; and (iii) On 29 June 2016, the OECD released new guidance on the implementation of the Country-by-Country (“CbC”) Reporting. For your convenience, we have summarised hereafter the...

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15 Jul
Member News

SRR – Celebrating 25 years of delivering client success.

On July 1st, Stout Risius Ross proudly celebrates its 25th anniversary . Many things have changed over the past 25 years. One thing that has not changed is our focus on providing our clients with the insight and advice they need to help make good decisions. From our earliest days, we have been guided by underlying values and the highest standards that have stood the test of time. We are proud to have grown from our humble beginnings to one...

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15 Jul
Chapter News

“Competition matters to everyone” for a fair society and strong economy Commissioner Vestager tells EESC Plenary

Addressing the EESC Members at their plenary session today, Margrethe Vestager, EU Commissioner for Competition, argued a strong consumer, business and social justice case for EU competition policy. Citing key recent examples on energy, transport, state subsidies and taxation, the Commissioner underlines that competition drives companies to cut prices and improve products, and brings in the investment to the economy and creates jobs. “The EU is about its people. It's about coming together to find answers to the problems we...

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