EU, China, US will suffer economically from the re-emergence of protectionism

The world’s largest economies, particularly the EU, China, the US, Mexico and Canada, are all projected to suffer economically from the re-emergence of economic protectionism, and a significant increase in trade tariffs. In the case of the EU, the bloc would experience a 1% contraction in GDP, a 0.3% lower rate of employment, and a … Continue reading EU, China, US will suffer economically from the re-emergence of protectionism

European Commission reviews relations with China, proposes 10 actions

Against the backdrop of China's growing economic power and political influence, the European Commission and the High Representative review European Union-China relations and the related opportunities and challenges. Today, they are setting out 10 concrete actions for EU Heads of State or Government to discuss and endorse at the European Council of 21 March. The … Continue reading European Commission reviews relations with China, proposes 10 actions

New EU rules to eliminate the main loopholes used in corporate tax avoidance come into force on 1 January

The Commission welcomes the entry into force of new rules to eliminate the most common corporate tax avoidance practices. As of 1 January 2019, all Member States shall apply new legally binding anti-abuse measures that target the main forms of tax avoidance practiced by large multinationals. Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and … Continue reading New EU rules to eliminate the main loopholes used in corporate tax avoidance come into force on 1 January

Auditors publish report on SRB’s, Commission’s and Council’s contingent liabilities

The Single Resolution Board (SRB) and the European Commission should continuously assess their financial risks and accounting thereof, arising from contingent liabilities related to bank-resolution lawsuits as from their 2018 accounts, according to a new report by the European Court of Auditors. The auditors reviewed the possible obligations of the SRB, Commission and Council arising … Continue reading Auditors publish report on SRB’s, Commission’s and Council’s contingent liabilities

Employment law overhaul takes account of gig economy

Employment law is getting a much-needed overhaul to protect the rights of people working in the gig economy, the Law Society of England and Wales said in response to new legislation announced today. Law Society president Christina Blacklaws said: “We called for laws that would prevent workers from being underpaid, overworked or mistreated - measures … Continue reading Employment law overhaul takes account of gig economy

European Commission presents comprehensive approach for the modernisation of the World Trade Organisation

The EU's approach to the World Trade Organisation (WTO) reform outlined in a document published today will be presented to EU partners in Geneva on 20 September during a meeting on that subject convened by Canada. The European Commission has today put forward a first set of ideas to modernise the WTO and to make … Continue reading European Commission presents comprehensive approach for the modernisation of the World Trade Organisation

The General Court of the EU upholds restrictive measures adopted by the Council against a number of Russian banks and oil and gas companies in connection with the crisis in Ukraine

Since 31 July 2014, the Council has, in response to Russia’s actions to destabilise the situation in Ukraine, adopted restrictive measures against a number of Russian banks and undertakings which specialise in the oil and gas sector. Those measures impose restrictions on certain financial transactions and on the export of certain sensitive goods and technologies, … Continue reading The General Court of the EU upholds restrictive measures adopted by the Council against a number of Russian banks and oil and gas companies in connection with the crisis in Ukraine