ESMA clarifies the treatment of settlement fails with respect to the CSDR penalty mechanism

Bvlgari celebrated the grand opening of its expanded Manifattura facility in Valenza, now the largest single-brand jewellery manufacturing site globally at 33,000 sq m, following an expansion from its original 19,000 sq m. The facility's workforce has grown from 650 to 1,100, with plans to reach 1,600 by 2029 to meet increasing jewellery demand. Part of the site will house a school for aspiring jewellers, addressing skills shortages in the industry, while Bvlgari continues to...

The recent trade deal between the US and UK, criticized as lacking legal structure and substance, primarily serves to mitigate tariffs imposed by Trump, rather than fostering genuine economic collaboration. The UK, which is not heavily impacted by these tariffs, risks compromising the integrity of the global trading system by prioritizing a quick agreement over a robust multilateral approach, potentially undermining the "most favored nation" principle. This situation weakens the UK's position as a proponent...

SummaryDonald Trump announced a limited trade deal with the UK, which includes cuts to tariffs on car and steel exports but maintains a 10% levy on most goods. The agreement, described as “full and comprehensive,” reflects a strengthening relationship between the two countries despite leaving the UK with a tougher trading environment than before the tariffs were introduced. UK Prime Minister Keir Starmer hailed the deal as historic, emphasizing its potential to protect and create...

Britain has made significant strides in trade this week, announcing a deal with the US to reduce tariffs on auto exports and eliminate duties on steel and aluminium, marking the UK as the first nation to secure a reprieve from Trump's tariffs. Additionally, a trade agreement with India, focusing on lowering duties on over 90% of British goods, aims to strengthen ties with a rapidly growing economy, despite its limited impact on the UK's long-term...

Romania's decision to cancel a presidential election due to alleged Russian interference has propelled ultranationalist George Simion, who secured 41% of the votes in the May 4 rerun, into a historic lead over pro-EU mayor Nicuşor Dan. This election has intensified political and economic instability, with Prime Minister Marcel Ciolacu resigning and the national currency depreciating. As Simion prepares for the May 18 run-off, he aims to become the first far-right president in Romania, capitalizing...

Most European companies in China report experiencing or anticipating positive effects from the US-China trade war, as higher Chinese tariffs make American imports less competitive. A survey by the European Union Chamber of Commerce in China revealed that while 19% of companies are already benefiting from increased business, 36% expect future gains, although overall economic uncertainty continues to impact profitability. Despite the trade tensions, many European firms are increasing local sourcing in China, indicating a...