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Member News
Member News
25
Mar
➔ What happened? On March 21st, the FDIC proposed revisions to its bank merger review policy for the first time since 2008. The revisions resulted from a request for information (RFI) issued by the FDIC in 2022. Separately, CFPB Director Rohit Chopra spoke on revitalizing bank merger review and Acting OCC Comptroller Michael Hsu issued a statement supporting the FDIC’s proposal. The OCC proposed its own revised bank merger review framework in February.
➔ How does the proposal change existing...
25
Mar
In this week’s Roar: an early peak, air cargo volumes flying high, pedal to the metal for intermodal, update on S. African ports, and technology trends for 2024.
Hapag-Lloyd just released financial results for its Q4, and it details just how much liner shipping revenues have dropped — a whopping 77.1% from 2022 to 2023, calculated before interest, taxes, depreciation, and amortization. And although volumes were up slightly, lower freight rates wiped out margins and profitability. But, while all of that sounds...
21
Mar
The European Central Bank (ECB) unveiled a new framework on Wednesday last week that should make its balance sheet “financially sound”, according to the Financial Times. Banks will be incentivized to lend to each other, and safety nets will be provided to limit the risk that lenders could run out of cash.
Additionally, the ECB aims to keep the interbank rate relatively close to its deposit rate which currently sits at 4%, as reported by Reuters.
Rise in Defaults
An increased number of...
21
Mar
On March 7, 2024, the European Court of Justice (CJEU) issued a landmark ruling on digital advertising and the concepts of personal data and joint controllership under the General Data Protection Regulation (GDPR).
The CJEU held that i) character strings used to express users’ preferences collected via the Transparency and Consent Framework (TCF) of Interactive Advertising Bureau Europe (IAB) constitute personal data under the GDPR and ii) IAB acts as a joint controller with TCF participants for the processing of users’ preferences....
21
Mar
The Federal Reserve triggered a dollar sell-off yesterday and follow-through selling was seen in Asia before profit-taking emerged. That created a new dollar selling opportunity in early European turnover. The FOMC revised up this year's growth forecast, shaved the unemployment projection, and while maintaining the PCE deflator forecast, and the median dot remained for three cuts this year. The soft-landing scenario was underscored and excited risk appetites. The G10 currencies are mixed ahead of the North American open. The...
21
Mar
A made in Portugal car will gain visibility at the Paris 2024 Olympic and Paralympic Games to be held on July 26th to August 11th.
The electric vehicle (EV), that was designed specifically for the Paris 2024 Olympic and Paralympic Games, is an Accessible People Mover (APM), that is intended for transporting people with reduced mobility and for freight transport. The Toyota plant in Portugal will produce 250 Accessible People Mover EVs under the Recovery and Resilience Program (PRR), that represents...
21
Mar
We’ve spoken of shifts in consumer sentiment and spending habits as a pandemic- and post-pandemic phenomenon, but it’s clear they are no longer just trends: these changes are here to stay.
Retailers are facing the pressure as inflation has decreased consumer spend while heightened interest rates have made capital more expensive than it has been in quite some time. Geopolitical tensions further exacerbate concerns as the Suez and Panama Canals, two of the world's major supply chain channels, are operating well...
19
Mar
Data is the cornerstone of a business, and its volumes are skyrocketing. It’s no wonder that data strategy accelerates overall business strategy across functions. And the tax department is no exception.
The global tax compliance landscape is shifting quickly amid Pillar Two implementation, multicountry reporting requirements and ESG opportunities such as potential credits and incentives. But if your tax department is using the same data flows and techniques it’s used for a decade or more, your company may be susceptible...
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