Business & Economy Industry News

Poland can grow faster through labour market and pro-competition reforms, OECD says    < 2014-05-03 >

“Poland has made considerable progress in transforming the structure of its economy, making it more competitive and bringing about convergence in living standards with other European countries,” Mr Gurríasaid during the launch. “Despite this success, unemployment is still far too high, and restrictive product market regulations continue to hinder economic activity. Reforms are needed for Poland to build on its strong track record and launch itself as an innovation–based economy.” To boost job

Share of renewables in energy consumption up to 14% in 2012-Bulgaria, Estonia and Sweden already achieve their 2020 targets    < 2014-05-03 >

Largest increases in share of renewables between 2004 and 2012 in Sweden, Denmark and Austria Since 2004, the share of renewable sources in gross final consumption of energy grew in all Member States. The largest increases during this period were recorded in Sweden (from 38.7% in 2004 to 51.0% in 2012), Denmark (from 14.5% to 26.0%), Austria (from 22.7% to 32.1%), Greece (from 7.2% to 15.1%) and Italy (from 5.7% to 13.5%). The highest shares of renewable energy in final energy consumption

European Commission proposes temporary tariff cuts for Ukrainian exports to the EU    < 2014-05-03 >

The idea is not to await the entry into force of the Association Agreement's (AA) provisions on a Deep and Comprehensive Free Trade Area (DCFTA), but to advance the implementation of its tariffs section by means of autonomous trade preferences and to start unilaterally the reduction or elimination of the EU's customs duties on goods originating in Ukraine. However, the preferences are not a substitute for the DCFTA and will be granted for a limited period only: until 1 November 2014. It

Recovery continuing in G7 countries, but emerging economies are mixed, OECD says    < 2014-05-03 >

Some major emerging economies continue growing at a fast pace, including China, but others have lost momentum. Tighter financial conditions are compounding the growth slowdown in emerging economies. Presenting the Interim Economic Assessment in Paris, OECD Deputy Secretary-General and Acting Chief Economist Rintaro Tamaki said: “The gradual recovery in the advanced economies is encouraging, even if temporary factors have pushed down growth rates in the early months of this year, while the slow

Strong Q4 drives growth for global venture capital investment    < 2014-05-03 >

• Global VC investment in 2013 up 2% to US$48.5b • Global number of deals up 0.2% to 5,753 • Significant growth in VC activity in Europe, Israel and Canada • Continued US IPO activity points to further growth in 2014 Commenting on the research, Bryan Pearce, EY’s Global VC Leader says: “Improving economic conditions and growing levels of liquidity combined with higher investor confidence and a more positive exit environment were the primary drivers underpinning solid global VC activity in

Insolvency: Commission recommends new approach to rescue businesses and give honest entrepreneurs a second chance    < 2014-05-03 >

Reforming national insolvency rules would create a "win-win" scenario: it will help keep viable firms in business and safeguard jobs and at the same time improve the environment for creditors who will be able to recover a higher proportion of their investment than if the debtor had gone bust. Post-bankruptcy, honest entrepreneurs should swiftly get a second chance because evidence shows that they are more successful the second time around. The Recommendation adopted today follows a publ

Volume of retail trade up by 1. 6 % in euro area    < 2014-05-03 >

In January 2014 compared with January 2013 retail trade increased by 1.3% in the euro area and by 1.9% in the EU28. Monthly comparison by retail sector and by Member State The 1.6% increase in the volume of retail trade in the euro area in January 2014, compared with December 2013, is due to rises of 1.9% for the non-food sector, of 1.5% for automotive fuel and of 1.1% for “Food, drinks and tobacco”. In the EU28, the 0.9% increase in retail trade is due to rises of 1.4% for automotive fuel

Steady increase in incidents of genetically modified crops found in traded food, UN agency reports    < 2014-05-03 >

In some countries, it is interpreted as any level at which detection is possible, meaning very low or “trace levels” while in other countries case-by-case decisions are taken on what level is acceptable. These variable standards are why some importing countries are legally obligated to reject certain shipments that were perfectly legal in the exporting country. FAO surveyed a total of 75 States on questions on low levels of GM crops in international food and animal feed trade. Respondents rep

Economic Expectations for China Decline Further    < 2014-05-03 >

Since December 2013, the CEP-Indicator has lost almost 20 points. It fits in the clouded picture that economic expectations for China’s important economic regions such al Beijing, Shanghai and Guangzhou lost ground in this month’s survey, too. After last month’s decline, the assessment of China’s current economic situation has slightly improved in the current survey. The respective indicator increased by 0.9 points, reaching a value of 10.9 points.

Global automotive sector faces complex challenges ahead, despite calmer economic outlook, says survey revealing priorities of C-Suite    < 2014-05-03 >

“Pressures in the global economy may be easing,” says Mike Hanley, EY’s Global Automotive Leader, “but automotive companies still face complex challenges and must implement a range of strategic initiatives geared to enable agile, efficient and innovative operations.” Based on a survey of 100 global C-Suite automotive executives and in-depth industry research, the report identifies five key themes that will shape the industry over the next 18 months: New sources of volatility : Market volatil

Partnership critical for success of growth multipliers India-Africa business partnership enhances innovation and value chains    < 2014-05-03 >

‘Partnership is the most practicable, cost efficient and impact sustaining policy which we as governments, international organisations and the private sector can coalese around,’ said Ms González ‘ In this fast changing world of technological change, of innovations in transportation and transformation in the ways goods and services are conceived, produced and traded, it is only through putting our resources in shared baskets and harnessing our comparative advantage that we can truly have the sc

G20 GDP growth slowed slightly to 0.8% in fourth quarter of 2013    < 2014-05-03 >

In South Africa and Australia, GDP growth accelerated to 0.9% and 0.8% respectively, compared with 0.2% and 0.6% in the third quarter. In Brazil, GDP grew by 0.7%, rebounding from a contraction of 0.5% in the previous quarter. GDP growth slowed in Korea, the United Kingdom and the United States yet remained strong at 0.9%, 0.7% and 0.6% respectively, compared with 1.1%, 0.8% and 1.0% in the third quarter. In France, GDP increased by 0.3%, after remaining flat in the previous quarter while Ger

Global IPO market has strongest first quarter since 2011    < 2014-05-03 >

Highest activity in January for 10 years and positive first quarter points to strong global IPO activity in 2014 Asia leads the way in deal numbers and value, as mainland Chinese exchanges reopen Private equity and venture capital drive IPOs in the US and Europe

XI. AmCham Germany Business Barometer    < 2014-05-03 >

These are among the main results of the XI. AmCham Germany Business Barometer, which the American Chamber of Commerce in Germany (AmCham Germany) presented today in cooperation with Roland Berger Strategy Consultants in Germany, Berlin. The exclusive survey provides an overview of how top US companies assess their business prospects here in 2014. The signs point to growth: Nearly eight out of ten surveyed companies anticipate an increase in sales. Forty-eight percent of top managers want to int

Organizations risk losing out on investment due to lack of non-financial information disclosure    < 2014-05-03 >

70% of the respondents based in emerging markets frequently or occasionally use non-financial information, compared with only 49% of those in developed markets

Sovereign borrowing set to fall in 2014, says OECD    < 2014-05-03 >

The redemption profile of medium- and long-term central government debt in the OECD area remains challenging, according to the Outlook, with large projected payment flows for the G7 and euro area governments for 2013 and 2014. For the OECD area as a whole, governments will need to refinance close to 29 % of its outstanding long-term debt in the next 3 years.

ZEW Indicator of Economic Sentiment - Economic Expectations Burdened by Crimea Crisis    < 2014-05-03 >

Economic expectations for the eurozone have also lost ground in the current survey. The respective indicator has declined by 7.0 points and now stands the 61.5 threshold. The indicator for the current economic situation in the Eurozone has gained 3.5 points, reaching a level of minus 36.7 points in March.

Use technology and data effectively to get ahead of the indirect tax curve, says new EY report    < 2014-05-03 >

Dr. Philip Robinson, EY’s Global Director of Indirect Tax comments: "Tax reporting begins and ends with data – but the variety of indirect tax data required by different jurisdictions and the sheer quantity of relevant data now generated by large organizations can present logistical issues for its effective collection, storage and analysis." Organizations’ reporting requirements increase and data sharing With the increase in reliance on VAT, customs, excise and other indirect taxes b

UK in the driving seat with 40% of European PE buyout value in Q1 2014    < 2014-05-03 >

Overall volume in the European buyout market has held up – there were 130 PE-backed deals completed in Europe in Q1, compared with 135 in the final quarter of 2013 and 138 over the same period last year, with a total value in Q1 2014 of €13b. The total value achieved is consistent with Q4 (€13.7b) and Q1 2013 (€13b). Deal value in Germany totaled €2.4b this quarter, buoyed by the Scout24 buyout that had an enterprise value of €2.0b, an increase compared with Q4 2013 total (€1.3b) and against t

Large headline-hitting deals to take center stage in the next year as deal volumes remain steady    < 2014-05-03 >

• Immediate acquisition appetite flat at 31% but third of deal pipelines to increase • Renewed cost management strategies driven by shareholder activism • Re-balancing of M&A investment between emerging vs mature markets

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