Eurozone inflation increased to 2.9% in December from 2.4% in November, as reported by the Independent. This was the first rise in seven months and was driven mainly by the end of German and French energy subsidies, which increased prices in the Eurozone’s 2 largest economies. Inflation is still well down from the peak of October 2022 when inflation rose to over 10%. The inflation increase muddied the waters somewhat for any potential interest rate cuts in early 2024, with analysts now...

On January 9, 2024, the U.S. Department of Labor (DOL) announced the issuance of its final rule addressing worker classification under the Fair Labor Standards Act (FLSA). The 2024 rule, which goes into effect on March 11, 2024, is largely consistent with the proposed version the DOL rolled out in 2022, rescinding and replacing the Trump administration’s more streamlined worker classification analysis while returning to the long-used “totality of the circumstances” standard, albeit with a pro-employee twist given the...

Last week was heavy on the economic data front, with inflation indicators and quarterly earnings reports galore. The three major equities indices saw weekly gains, with the S&P 500 nearing its record-high of just under 4,800 which the index reached about two years ago.  The S&P 500 ended last week up 1.84%. The 10-year Treasury yield finished last week down about 10 basis points to 3.94% and the 2-year was down almost 27 basis points to 4.14%, putting the 2s/10s...

The first operation of its kind in France, this EIB contribution will enable Groupe BPCE’s leasing business to offer financing for mobility, energy efficiency and renewable energy self-consumption projects. The financing will be available to its own customers and customers of the Banques Populaires, Caisses d’Epargne, Crédit Coopératif and Banque Palatine. This partnership will act as an accelerator to support small business professionals, small and medium-sized enterprises (SMEs) and mid-caps in their energy transition. The €300 million package is designed...

What You Need To Know The Commerce Department’s Bureau of Industry and Security (BIS) has published new FAQs that offer further guidance on two interim final rules that went into effect in November 2023. These rules, for which the BIS is accepting comments until January 17, 2024, expand export controls related to advanced computing and semiconductors, aimed at China and other national security concern countries. The just-published FAQs offer guidance on several areas, including: the new export license exception...