Finance & Trade

Olaf Scholz’s New Plan Puts Germany First, Creating Concerns within the Bloc

October 10, 2022

While being accused of breaking solidarity and the single market, Germany's Chancellor Olaf Scholz’s plan to establish a €200 billion emergency fund to subsidize lower gas prices triggered a negative response from some European leaders last week.
Pfizer CEO Pulls out of Testifying to EU Parliament COVID Panel

October 05, 2022

Following an audit report into the EU’s vaccine procurement strategy, Pfizer Chief Executive Albert Bourla has pulled out of an appointment to testify before the European Parliament's special committee on COVID-19.
EU Commission and U.S. set Key Goals for Upcoming Transatlantic Meeting

October 05, 2022

Ahead of the upcoming high-level meeting programmed for December 2022, the European Union and the United States have set goals to complete a series of actions including a roadmap on AI, a joint exercise on supply chain disruptions, and recommendations on charging infrastructure.
EU Executive Increases Outreach with New Emergency Supply Chain Tool

September 21, 2022

In an effort to protect the supply chain, the European Commission has set out a new emergency tool called the Single Market Emergency Instrument that gives the EU executive new powers, including requiring the stockpiling of critical goods and telling companies to prioritize certain orders over others.
ESG Label Stripped from EU Sustainable Funds after Review

August 24, 2022

As Groups continue in their attempt to define Environmental, Social and Governance (ESG), the label ‘ESG’ has been stripped From 23% of EU sustainable funds after being reviewed by market researcher Morningstar Inc.
New EU Office Expands European Presence in Silicon Valley

August 17, 2022

The European Commission is opening a San Francisco office in September, moving forward in its mission to become a global force in shaping the digital sphere
EU Sanctions lead to Russian Gas Cut Off through Ukraine

August 09, 2022

Russian oil supplier Transneft, who supplies oil through the southern Druzhba pipeline servicing Hungary, Slovakia and the Czech Republic has stopped delivery citing issues with EU financial sanctions.
Paul Hastings: Warning of a New EU Corporate Sustainability Reporting Directive

July 27, 2022

In June, the Council of the European Union and European Parliament reached a provisional political agreement on the Corporate Sustainability Reporting Directive (“CSRD”), which aims to create global sustainability reporting standards, more than quadrupling the number of companies required to report on sustainability.
A Gas Worries Continue, EU Invests on Hydrogen

July 20, 2022

The European Commission passed €5.4 billion in hydrogen subsidies launching 41 projects in 15 countries centered around hydrogen technology, in what is only the first of four expected waves of state aid approvals for hydrogen projects in the European Union despite questions remaining concerning the approval process and impact on the environment.
Europe Faces a Summer Facebook Blackout

July 11, 2022

The Irish Data Protection Commission informed its counterparts in Europe that it will block Facebook-owner Meta from sending user data from Europe to the U.S., potentially blocking Europeans from using Facebook and Instagram, cracking down on Meta's last legal resort to transfer large chunks of data to the U.S.