01 Apr
Chapter News

Labour costs in the EU

Hourly labour costs ranged from €4.1 to €41.3 across the EU Member States in 2015-Lowest in Bulgaria and Romania, highest in Denmark and Belgium In 2015, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be €25.0 in the European Union (EU) and €29.5 in the euro area. However, this average masks significant gaps between EU Member States, with the lowest hourly labour costs recorded in Bulgaria (€4.1), Romania (€5.0), Lithuania (€6.8), Latvia...

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01 Apr
Member News

Stibbe Tax team contributes Netherlands chapter to The Inward Investment and International Taxation Review

The Netherlands has since long been a jurisdiction of choice for the establishment of international holding companies. Generally recognised benefits of using a Dutch (holding) company include an attractive participation exemption regime, extensive investment protection and tax treaty networks, no withholding taxes on interest and royalties and the cooperative approach of the Dutch tax authorities. The Stibbe Tax team has considerable knowledge of and experience in domestic and international matters such as mergers and acquisitions, private equity, finance structures, capital...

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01 Apr
Member News

Appellate Division holds that Town may be third-party beneficiary of a provision limiting the generator’s right to appeal property tax assessments

Appellate Division holds that Town may be third-party beneficiary of a provision limiting the generator’s right to appeal property tax assessments in a supply agreement between an energy generating company and a power authority. In June 1997, Long Island Lighting Company entered into a “Power Supply Agreement” with Long Island Power Authority, whereby the Company agreed to sell and deliver to the Authority energy produced from its power generating facilities in Nassau and Suffolk Counties, including certain facilities located in...

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01 Apr
New York Related News

Governor Cuomo and Legislative Leaders Announce Agreement on 2016-2017 State Budget

Governor Andrew M. Cuomo, Senate Majority Leader John Flanagan, Senate Independent Democratic Conference Leader Jeffrey Klein, and Assembly Speaker Carl Heastie today announced an agreement on the 2016-17 state budget. The budget holds the growth in state spending to two percent for the sixth consecutive year, continuing to reverse a decades-long trend where state spending outpaced the rate of inflation or personal incomes. The budget also includes a number of landmark policies that will strengthen opportunity for working and middle...

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01 Apr
Chapter News

Capital Markets Union: Making it easier for insurers to invest in infrastructure

As a result of one of the first measures in the Capital Markets Union Action Plan, insurers will find it more attractive and cheaper to invest in infrastructure projects as of tomorrow, 2 April 2016. The European Commission proposed an amendment to EU prudential rules, known as Solvency II, as part of the CMU Action Plan launched on 30 September 2015. This amendment to a delegated act under Solvency II was published today in the Official Journal and enters into...

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31 Mar
Member News

TREPP: Residual Positivity from Fed Comments Pull Stocks Up, CMBX Tighter

In case you missed it, EACCNY Member TREPP, LLC put out a research piece yesterday via email that discussed the dollar volume of loans from the 2005 to 2007 vintages that do not currently have the DSCR, LTV or debt yield needed to secure CMBS refinancing. If you would like to access it, you can click the link to the right. The dovish comments from the Fed had a lingering beneficial effect on the markets yesterday as US stocks rallied...

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31 Mar
Member News

DS-Concept adds Los Angeles to growing global network

Manufacturing’s pivot East in recent decades has opened up new opportunities for DS-Concept across the globe, but more recently we have registered demand to open up an office in Los Angeles to allow domestic clients to expand overseas and for foreign businesses to operate with ease in the US. The manufacturing industry’s rapid growth in California has been one of the main drivers of the state’s growth, with $149.79bn in manufactured goods exported in 2014, more than 11% of the...

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31 Mar
New York Related News

Governor Cuomo Announces Global NY Fund Tour to Promote Export Assistance Funding

Grants up to $50,000 and loans up to $500,000 available to help businesses enter the global marketplace Governor Andrew M. Cuomo today announced the launch of the Global NY Fund Tour – a series of informational sessions being held in each of New York State’s ten economic development regions to inform small- and medium-sized businesses and non-profits about new resources available to support international export efforts. At today’s event in the Capital Region, Lieutenant Governor Kathy Hochul joined state officials...

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31 Mar
Chapter News

EU’s top trading partners in 2015: the United States for exports, China for imports

In 2015, the United States (€619 bn, or 18% of total EU trade in goods) and China (€521 bn, or 15%) continued to be the two main goods trading partners of the European Union (EU), well ahead of Switzerland (€253 bn, or 7%) and Russia (€210 bn, or 6%). Full text available on EUROSTAT website Compliments of the European Commission

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30 Mar
Chapter News

Internships at the EU Delegation in the US

The Delegation of the European Union to the United States of America offers internships to young university graduates with no, or only limited (one year maximum), relevant professional experience, as well as to students in the final years of university where the traineeship is a complement to their academic training. The internship program offers dynamic individuals the opportunity to learn about the work of one of the EU’s largest and most active diplomatic missions and to develop a comprehensive understanding...

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