Over 2,750 sign up to save Stock Exchange from becoming beer temple

Over 2,750 sign up to save Stock Exchange from becoming beer temple

The “Let’s Save the Stock Exchange” petition against a plan to set up a beer temple in the Stock Exchange building in Brussels has obtained more than 2,750 signatures in one week, its initiators announced on Thursday. In late August, the City of Brussels launched a public inquiry into the plan to transform the building into a beer temple in collaboration with AB InBEV, a Belgian-Brazilian industrial beer company. The inquiry ends on Friday and the consultation commission has been scheduled for the 11th of October. In the petition, the…

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Corporation tax reform too little for American Chamber of Commerce

Corporation tax reform too little for American Chamber of Commerce

The corporation tax reform announced this summer by the Michel government does not go far enough. This is the view of the American Chamber of Commerce (“AmCham”) in Belgium. The nominal tax will go down to 25% by 2020, but according to the organisation, this is still above the European average. It states, “The ultimate objective should be to reach a uniform rate of 20% for all companies.” The federal government decided over the summer to reduce corporation tax. It is thus intended to go from 33.99% now to 29%…

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EU imposes 880 million-euro fine upon Scania

EU imposes 880 million-euro fine upon Scania

The European Commission imposed a fine of €880 million upon the Swedish manufacturer, Scania, for its involvement in a cartel with six other lorry manufacturers. This thus put an end to a 14-year investigation into the matter. Scania was the last of the manufacturers identified not to have received a fine. The delay, compared to other manufacturers, occurred as it was contesting the accusations of the European Competition Commission. It has been the most harshly punished after the German company Daimler. The latter had been required, by law, to pay…

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Insufficient progress on EU-UK divorce terms, says European Parliament

Insufficient progress on EU-UK divorce terms, says European Parliament

The first four cycles of negotiations on Britain’s exit from the European Union (EU) have not yielded enough progress on the EU’s priorities, according to a draft resolution drawn up by the European Parliament’s pilot group on Brexit. The draft resolution suggests that, barring a breakthrough at the fifth cycle of negotiations on the three priority points for Europe, EU leaders should postpone their evaluation, aimed at assessing whether sufficient progress has been made in the talks. The remaining 27 EU countries have set three priority points: the amount Britain…

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Belgium drops to 20th place in WEF competitiveness rankings

Belgium drops to 20th place in WEF competitiveness rankings

Belgium dropped to 20th place this year in the World Economic Forum (WEF) competitiveness rankings, according to the WEF’s Global Competitiveness Report, published on the Tuesday night in Geneva. This is three slots down from 2016 and the country’s lowest ranking in at least five years. According to the report, Belgium’s competitiveness is hampered, in particular, by its fiscal policy, labour legislation – considered restrictive – and a public administration that lacks effectiveness. On the other hand, the country obtained its best marks in health care, education, training and technological…

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Prime Minister meets with Prince Laurent’s lawyer

Prime Minister meets with Prince Laurent’s lawyer

Prime Minister Charles Michel had a meeting on Monday with the attorney of Prince Laurent, the Prime Minister told the Belgian Chamber Committee on the Interior on Tuesday in response to a question from Peter Buysrogge (N-VA). The king’s brother wished to be represented by his attorney in the proceedings launched by the Government following his participation in an official reception at the Embassy of China without prior authorization. On the 1st of September, the Council of Ministers had mandated the Prime Minister to receive the prince for a hearing….

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Ryanair: New cancellations from November to March; some 400,000 passengers affected

Ryanair: New cancellations from November to March; some 400,000 passengers affected

Ryanair announced on Wednesday the cancellation of new flights between November 2017 and March 2018, which will affect some 400,000 persons. The airline will be operating with 25 fewer planes until March next. The low-cost Irish carrier says that the measures will enable it to avoid other cancellations linked to the working hours of its pilots and cabin crews. The slower growth during the winter season will allow it to have more planes and crews in reserve at its 86 different bases, Ryanair explained. Fewer than 1% of the 50…

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Unemployed going self-employed will benefit from €4,000 subsidy

Unemployed going self-employed will benefit from €4,000 subsidy

From this coming January, Brussels jobseekers going self-employed will be able to benefit from a subsidy of €4,000. This is reported in L’Echo on Wednesday. The proposal comes from the Minister for Economy and Employment, Didier Gosuin (DéFI). He asserts that “with this subsidy, jobseekers will be able to start up new businesses, without fearing financial difficulty.” He explains, “Under the system, we will give them an extra six months to break even.” The minister further states that this form of assistance will “target a particular section of the public…

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Fingers pointed at Messi, Barcelona, during European Parliament tax evasion hearing

Fingers pointed at Messi, Barcelona, during European Parliament tax evasion hearing

A European Parliament session on tax evasion by footballers was turned on Tuesday into a trial of the support given by Barcelona FC to its Argentinian star Lionel Messi. While the International Federation of Football Associations, FIFA, felt the assembly had no right to call clubs or players to order for tax evasion, members of the Parliament’s Commission of Inquiry into the Panama Papers felt differently. Messi was found guilty of tax fraud in 2016 and ordered to pay a fine of 2.1 million euros for dodging the fisk through…

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How has the Brexit vote affected the UK economy? September verdict

How has the Brexit vote affected the UK economy? September verdict

How has the economy reacted to the vote to leave the EU? What effect the Brexit process has on growth, prosperity and trade in the UK. Pound jumps on rate hike talk … Over the past month, sterling has surged to its highest level since the day after the referendum following firm suggestions from the Bank of England that it could raise interest rates from as early as November in order to curb inflation. Although many economists now expect a rate hike in the coming months, some argue the Bank…

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