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Bundeskartellamt imposes million-euro fines in response to illegal arrangements

Bundeskartellamt imposes million-euro fines in response to illegal arrangements

Published: 03 Mar 2021

The Bundeskartellamt – Germany’s Federal Cartel Office – has imposed fines totaling approx. 175 million euros on five aluminum forging companies and ten employees responsible for engaging in anticompetitive arrangements. The Bundeskartellamt announced on December 23, 2020 that senior staff members of the relevant companies had, over a period of years, been exchanging information on cost factors an...

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Today’s Rates & Market News

Today’s Rates & Market News

Published: 03 Mar 2021

Today’s Rates GBP>EUR – 1.1563 GBP>USD – 1.3998 EUR>USD – 1.2093 GBP>CAD – 1.7633 GBP>AUD – 1.7874 GBP>SEK – 11.701 GBP>AED – 5.1352 GBP>HKD – 10.844 GBP>ZAR – 21.837 GBP>CHF – 1.2799 Today’s Calendar · USD ADP Employment Change(Feb) · USD ISM Services PMI(Feb) Today’s Highlights EUR/USD tops 1.21 amid improving market mood GBP/USD rises towar...

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Today’s Rates & Market News

Today’s Rates & Market News

Published: 02 Mar 2021

Today’s Rates GBP>EUR – 1.1550 GBP>USD – 1.3869 EUR>USD – 1.2011 GBP>CAD – 1.7589 GBP>AUD – 1.7884 GBP>SEK – 11.708 GBP>AED – 5.0951 GBP>HKD – 10.757 GBP>ZAR – 20.903 GBP>CHF – 1.2734 Today’s Calendar · EUR Consumer Price Index - Core (YoY)(Feb) · EUR Consumer Price Index (YoY)(Feb) · CAD Gross Domestic Product Annualized (QoQ)(Q4) Today’s ...

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Today’s Rates & Market News

Today’s Rates & Market News

Published: 01 Mar 2021

Today’s Rates GBP>EUR – 1.1569 GBP>USD – 1.3931 EUR>USD – 1.2038 GBP>CAD – 1.7695 GBP>AUD – 1.8021 GBP>SEK – 11.781 GBP>AED – 5.115 GBP>HKD – 10.804 GBP>ZAR – 21.066 GBP>CHF – 1.2688 Today’s Calendar ·EUR Harmonized Index of Consumer Prices (YoY)(Feb) ·USD ISM Manufacturing PMI(Feb) ·EUR ECB’s President Lagarde speech Today’s Highlights GBP/U...

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Distributing FFP2 Masks Free of Charge in Breach of Competition Law

Distributing FFP2 Masks Free of Charge in Breach of Competition Law

Published: 26 Feb 2021

Groups deemed to be at risk can redeem vouchers for FFP2 masks. Pharmacies that waive the two-euro personal contribution are violating competition law according to a ruling of the Landgericht (LG) Düsseldorf – the Regional Court of Düsseldorf. In order to protect those at particular risk against being infected with the coronavirus, the German parliament has adopted legislation (Coronavir...

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German Reform of Insolvency Law Enters Into Force: Shortened Discharge of Residual Debt and Introduction of New Reorganization Options, Especially for Corona "Victims"

German Reform of Insolvency Law Enters Into Force: Shortened Discharge of Residual Debt and Introduction of New Reorganization Options, Especially for Corona "Victims"

Published: 25 Feb 2021

At the turn of the year, two important laws reforming insolvency law in Germany came into force. The Act on the Further Shortening of Residual Debt Relief Proceedings came into force with retroactive effect (!) from 01.10.2020, while the Act on the Further Development of Restructuring and Insolvency Law came into force on 01.01.2021. The Act on the Further Shortening of the Residual Debt Relief Pr...

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Leading Signs You May Be at Risk for an Oil and Gas Ponzi Scheme

Leading Signs You May Be at Risk for an Oil and Gas Ponzi Scheme

Published: 25 Feb 2021

It’s been more than a century since Spindletop ushered in the great wave of petroleum exploration in the United States, but oil and gas extraction remains a tricky investment for even the most savvy of dealmakers. It’s not surprising that the promise of “black gold” has also attracted hucksters and charlatans, with numerous regulatory actions and indictments in the past few years relating to oil a...

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New Transparency Rules in Switzerland – Abolition of Bearer Shares

New Transparency Rules in Switzerland – Abolition of Bearer Shares

Published: 19 Feb 2021

In November 2019 the new transparency rules for Swiss bearer shares came into force as the Swiss Federal Assembly adopted the Federal Act, implementing the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes. What does this mean? With the exception of publicly limited companies and bearer shares issued in the form of intermediated securities, bearer sh...

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