10 Jan
Member News

Vulcan View: The latest EU developments 6 January – 10 January

Eurozone confronts renewed inflationary pressures, challenging ECB’s strategy The eurozone is facing renewed inflationary pressures as 2025 begins, with consumer prices climbing to 2.4% in December – the highest rate since July.  This increase marks the third consecutive month of accelerating inflation, exceeding the European Central Bank’s (ECB) 2% target, and adds pressure on the ECB to stabilise prices while supporting the region’s faltering economy. December’s inflation increase, up from 2.2% in November, reflects a combination of surging energy costs and persistent price increases...

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09 Jan
Chapter News, Trade & TTIP Related

DoC | International Trade Administration Highlights 2024 Achievements to Strengthen U.S. Competitiveness and Economic Security

WASHINGTON, D.C. - The U.S. Department of Commerce’s International Trade Administration (ITA) is proud to announce its 2024 achievements, highlighting key efforts to enhance the competitiveness of U.S. businesses and workers, strengthen supply chains, and drive innovation in international trade. “2024 was yet another impressive year for U.S. competitiveness across international markets,” said Under Secretary for International Trade Marisa Lago. “From strengthening supply chains to sustaining U.S. leadership in technology and innovation, ITA continues to enhance U.S. economic security and promote...

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09 Jan
Chapter News

ECB | Energy shocks, corporate investment and potential implications for future EU competitiveness

Prepared by Pablo Anaya Longaric, Alessandro De Sanctis, Charlotte Grynberg, Vasileios Kostakis and Francesca Vinci Published as part of the ECB Economic Bulletin, Issue 8/2024.   1 Introduction The surge in energy prices following the unjustified Russian invasion of Ukraine exposed the EU to the largest energy shock since the 1970s. As a key input in virtually any production process, the sharp rise in energy prices not only contributed to a surge in inflation and a loss of purchasing power for households but also to...

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09 Jan
Member News, Trade & TTIP Related

Jaguar Freight | Important Update: Tentative Agreement Made To Avert January 15 Port Strike

Tentative Agreement on New Six-Year Master Contract Reached by ILA and USMX In an announcement last evening, the United States Maritime Alliance (USMX) and the International Longshoremen's Association (ILA) said they have tentatively agreed on all terms of a new six-year Master Agreement. In order for USMX members to confirm the conditions of the final contract, the two parties decided to keep working under the current agreement until the union could convene its whole Wage Scale Committee and set up a...

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08 Jan
Member News

CLA Announces Key Leadership Developments

Firm elevates several individuals to new roles, igniting the next generation of innovation and growth Minneapolis, MN – Jan. 7, 2025 – Today, CLA (CliftonLarsonAllen LLP) announced several updates to its national and regional leadership teams. The appointments and new roles underscore CLA’s commitment to innovation, growth, and strategic succession, as it accelerates into 2025 and beyond. Among the developments are two additions to the firm’s executive leadership team. CEO Jen Leary has appointed James Watson as Chief Solutions Officer and Paul...

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08 Jan
Chapter News

IMF | Has New Public Financial Management had its Day?

By Julie Cooper and Tim Youngberry | New Public Financial Management (NPFM) emerged in the 1980s as a transformative approach to public sector governance, aimed at enhancing efficiency, accountability, and responsiveness. Rooted in principles drawn from private sector management, NPFM promotes results-oriented practices such as performance-based budgeting, measurable outcomes, and decentralized management. Its objectives align closely with those of traditional PFM: ensuring fiscal discipline, strategically allocating resources, and delivering services efficiently and effectively. However, while NPFM's objectives are commendable and...

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08 Jan
Chapter News

ECB | What explains the high household saving rate in the euro area?

Prepared by Alina Bobasu, Johannes Gareis and Grigor Stoevsky | Following a pandemic-related surge in 2020, the household saving rate in the euro area fell back to its pre-pandemic average by mid-2022 but has since risen again noticeably. The seasonally adjusted euro area household saving rate, as reported by Eurostat in the quarterly sector accounts, rose sharply after the outbreak of the COVID-19 pandemic. This was mainly due to the lockdowns imposed to contain the spread of the virus, which dampened...

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08 Jan
Member News, Trade & TTIP Related

Troutman Pepper Locke | BIS Export Enforcement’s 2024 Year in Review: Strengthening US National Security Through Strategic Action

On January 2, 2025, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) Export Enforcement published its 2024 Year in Review, spotlighting key accomplishments in protecting U.S. national security. In this report, BIS highlights its expanded enforcement capabilities, impactful actions against illicit procurement networks, and collaborations with industry, academia, and international partners. Key Highlights of the 2024 Year in Review 1. Disruptive Technology Strike Force Expansion BIS expanded the geographic reach of its Disruptive Technology Strike Force by adding new units in...

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07 Jan
Member News

Troutman Pepper Locke | OFAC’s Latest General Licenses and FAQs Related to Russian Sanctions

On December 18, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued General License (GL) 1B (Authorizing Certain Activities Involving Federal State Budgetary Institution Marine Rescue Service) and GL 115 (Authorizing Transactions Involving Gazprombank Related to Civil Nuclear Energy) related to the Russian Harmful Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR). OFAC simultaneously issued one amended Russia-related Frequently Asked Question (FAQ) 894 and related FAQ 1203. Subsequently, on December 27, 2024, OFAC issued GL 116 (Authorizing Transactions Involving Entities Owned by Bidzina Ivanishvili)...

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07 Jan
Member News

Bannockburn Global Forex | January 2025 Monthly

The turn of the year is at hand, but the forces shaping the business and investment climate remain familiar. One of the chief characteristics has been the outperformance of the US economy, fueled by an historically large budget deficit, productivity gains, and robust consumption. President-elect Trump has not been inaugurated but he is already a force to be reckoned with, as various tariff threats, and parries over the Panama Canal and Greenland illustrate. The eurozone never fully recovered from the...

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