Barely thirty minutes after Prime Minister Theresa May commenced her address to Parliament at noon today, Tim Barrow, the UK’s representative to the EU, hand delivered its Article 50 Notice to Donald Trusk, the President of the European Counsel , in Brussels. The speculation is over – the UK is formally withdrawing from the EU.
Prime Minister May told Parliament that “[t]oday, the government acted on the democratic will of the British people, and it acts too on the clear and convincing position of this house.» Read More
The below post is authored by Wouter Vosse, Esq. from Hamelink & Van den Tooren, a leading tax law firm in the Netherlands.
The upcoming ‘Brexit’ is the talk of the town all over Europe. Other EU countries, such as France, Ireland, Germany and the Netherlands are already competing for the business that is expected to leave the UK. The NY Times published an interesting article on the ‘battle for the British business’.» Read More
With UK’s surprise vote last Thursday to leave the EU, politicians, businessmen and women and pundits are scrambling to understand and predict the ramifications of the UK withdrawal, and there will be many. Of particular interest will be the response of global business with EU base operations in London. Financial, pharma and technology companies are especially concerned.
United States, Chinese and other global businesses have over the years established a base of operations in London to access the EU market. » Read More
A standby letter of credit (“SLC”) is a common way for a seller of goods to mitigate his or her risk in a transaction where the seller is sending goods abroad and either the buyer is not amenable to resolving disputes in the seller’s home jurisdiction or the seller has doubts about the buyer’s credit worthiness. SLC’s allow the beneficiary, the seller here, to collect payment directly from the SLC’s issuer in place of chasing a defaulting buyer. » Read More
This week, our REWIND of international business news covers Italian court decision that the sky is the limit for Emirates Airline; meanwhile, European venture capitalists skip the 11-hour flight to Silicon Valley to invest in European tech startups; and major global music companies are accused of trying to take the whole “cloud” down. » Read More