On August 28, 2023, the Commerce Department’s Bureau of Industry and Security (BIS) released a proposed rule (https://www.regulations.gov/document/BIS-2023-0021-0001) that would revise the existing Section 232 exclusion process for steel and aluminum. If finalized, this would mark the sixth change (https://www.bis.doc.gov/index.php/232-steel) (https://www.bis.doc.gov/index.php/232-aluminum) to the exclusion process since its start in 2018. BIS could finalize the rule as well as changes to the process this winter. The changes could impact importers and users of steel and aluminum. Over the past five years,...

Overview: The dollar remains offered and our ideas about it stalling as central banks push against the timing and extent of the easing the market is anticipating are being challenged. The Governor of the Reserve Bank of Australia and the Bank of England both warned higher rates may still be needed. Still, the momentum may be slowing. Meanwhile, the short squeeze continues to lift the Japanese yen, which is trading at its best level in two months. The PBOC has...

Firm’s new AI+ Digital Transformation Strategy to Advance CRE, Enabling AI at Scale while Furthering Operations, Client Delivery and Data Stewardship CHICAGO (November 20, 2023) – Cushman & Wakefield (NYSE: CWK), a leading global commercial real estate (CRE) services firm, today announced it intends to embed Artificial Intelligence (AI) across its commercial real estate transaction lifecycle, to enhance client and employee outcomes. As part of AI+ – the firm’s new, exclusive digital transformation strategy, powered by AI and underpinned by proprietary...

Welcome to our little Swiss Dish. Where we give you insights of Switzerland’s economy in a cheesy way. Wear your safety vest and sunscreen, as in this publication we travel on water. Travelling by boat: Switzerland’s infrastructure offers many varieties to travel to work or for leisure. Did you know that many Swiss citizens take the fairy to cross from one end of the lake to the other to commute to work? Many use the opportunity to avoid the rush...

EU reaches milestone deal to curtail methane emissions Earlier this week, the European Commission welcomed a provisional agreement between the European Parliament and Council on a groundbreaking EU regulation designed to mitigate methane emissions both within Europe and globally. Methane, a potent greenhouse gas and a major contributor to climate change, is targeted by the accord as a crucial element in achieving the European Green Deal's commitment to reduce net greenhouse gas emissions by at least 55% by 2030. Keep reading. EU negotiators reach provisional agreement...

Coalition across sectors seeks to position the United States to more effectively attract a greater and more diverse population of international students and ensure their success Washington, D.C., November 14, 2023 — Last week, 11 education organizations, think tanks, and advocates launched the U.S. for Success coalition to foster international student success in the United States through a coordinated national effort. The coalition will work in partnership with the U.S. government, higher education institutions, the business sector, and other key partners...

In October, the Trepp CMBS Delinquency Rate rose 24 basis points to 4.63%, with significant fluctuation across the five major property types. Each sector’s respective rate either rose or fell by more than 15 basis points, with two in particular experiencing substantial increases. The multifamily rate rose 79 basis points to 2.64%, after two consecutive months of only a 1 basis point increase. This is the highest month-over-month increase for the property type since November of last year.  Most surprising, however, was...

The key developments of the report are summarized below. Later-Stage Valuations Drop Q3 2023 saw a decline in start-up valuations across multiple stages, especially for Series B and Series C and later companies, which retreated to five-year lows. Despite the decline, Seed stage 2023 valuations continue to fare better and are on track to surpass 2022's record-setting levels. Mixed Results for Early and Late-Stage Fundraise Amounts In Q3 2023, Series Seed to Series B start-ups experienced a decline in fundraising amounts after Q2’s...