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Member News
Member News
27
Jul
With the help of our members, we are creating a Thought-Leadership series on the impact of COVID-19 on Labor & Employment from the perspective of both sides of the Atlantic. Today, we present Philip Berkowitz, Shareholder at Littler Mendelson in New York, and Ronnie Neville, Partner at Mason Hayes & Curran in Dublin, who will address "Working from Home and the Challenges of Remote Supervision." |
Whether in Europe or America, there are advantages and disadvantages to working from home, both...
24
Jul
In only their second face-to-face meeting since the start of the Coronavirus pandemic, EU and UK negotiators, this week, failed to make significant strides in the post-Brexit future relationship negotiations.
In the sixth round of negotiations between EU chief negotiator Michel Barnier and his UK counterpart, David Frost, the sides failed to reach a breakthrough on the key stumbling blocks: clear rules for a level-playing field for fair and open competition, fisheries, as well as the role of the European...
24
Jul
The U.S. Dollar is trading in mixed direction as major currencies remain elevated while commodity-based currencies tumbled. This morning, we saw the release of Jobless Claims rise higher than expected by 1.4MM while Continuing Claims declined a bit. Overall, markets seem to be encouraged by recent earnings, but the buck has no clear guidance as the U.S. economy faces challenges from the pandemic. We are waiting to see any signal from U.S. lawmakers that they will be extending benefits or...
24
Jul
European Court of Justice, Case C-94/19 (San Domenico Vetraria S.p.A.) of March, 11 2020: the secondment of an employee of a parent company to a subsidiary, for which the latter reimburses only the relevant costs, will be subject to VAT in cases where the contractual relationship between parent and subsidiary qualifies as a provision of services against consideration.
The Case at hand, submitted by the Italian Supreme Court to the European Court of Justice (“ECJ”), concerns the VAT regime applicable...
23
Jul
We recognize that this is a moment of deep hurt and anguish for millions of Black people across the country. Systemic racism, discrimination and injustice is a human rights crisis. We vow to be a voice and force for change.
EY is taking actions as a US firm to eradicate racism and discrimination against the Black community by leveraging our influence to drive strategic change in our firm, in the communities where we work, and through public policy. Understanding that...
23
Jul
In light of the ongoing Brexit discussions, the UK Financial Conduct Authority (FCA) has decided to re-open the temporary permissions regime (TPR) as from 30 September 2020. As the FCA continues to plan for all possible Brexit scenarios, including a no-deal Brexit, it encourages firms and fund managers to prepare accordingly and apply for the TPR before the end of the transition period (31/12/2020).
As a reminder, in December 2017 the UK Government announced the introduction of a temporary permissions regime...
22
Jul
When coronavirus struck, the European Commission joined with EU countries and European institutions to prepare a swift and massive package of relief for businesses devastated by the pandemic. One European programme was already at work, immediately delivering hundreds of millions of euros in financing for projects that aim to fight COVID-19.
With the backing of the European Fund for Strategic Investments (EFSI), the European Investment Bank financed a €50 million deal in May to back COVID-19 trials of a treatment...
22
Jul
Accounting for COVID-19 related rent concessions and other modifications to lease contracts, from the lessee’s perspective
Implementing IFRS 16 Leases was a substantial task for many preparers, and COVID-19 has brought a new and unexpected source of difficulty and complexity.
The challenges posed by COVID-19 have resulted in a significant increase in the number of leases being re-negotiated or modified, usually where tenants can no longer operate, or have experienced a sudden drop in revenue. As a result, the IASB has...
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