'Say on pay' for large firms - EUbusiness Week newsletter 656

Publisher's Note

This week, the Commission announced a corporate governance package for around 10,000 companies listed on Europe's stock exchanges, as well as cost-efficient company law solutions for SMEs which operate across borders.

Corporate governance proposals will contribute to the long-term sustainability of these companies; a binding "say on pay" grants shareholders proper control over management; and the European Single-Member Company offers EU SMEs an efficient framework for their operations and growth.

The main aim of these measures, says Internal Market Commissioner Michel Barnier, is to discourage short-termism. This is damaging Europe's companies and its economy.
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Regards,

Nick Prag
Publisher, EUbusiness

1. IMF presses ECB to act soon against deflation

The International Monetary Fund on Tuesday urged the European Central Bank to act as soon as possible to fend off the deflation threat, amid worries about weak eurozone growth.
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US warns eurozone over deflation risk

2. EU moves to rein in state support for renewable energy

The European Union has announced sweeping new guidelines to curtail state support for renewable energy production, while still allowing governments to shield energy-intensive industries from high power bills.
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3. Greece ends market exile with triumphant bond auction

Bailed-out Greece has returned to bond markets with a bang after a four-year exile, raising EUR 3.0 bn and sending a major signal that the eurozone debt crisis is fading.
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4. European court scraps phone, email data collection law

Europe's top court on Tuesday struck down an EU law forcing telecoms operators to store private phone and email data for up to two years, judging it too invasive, despite its usefulness in combating terrorism.
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5. Americans, Germans clash on US-EU trade standards

Americans and Germans are broadly supportive of a US-EU free-trade pact under negotiation, but differ over details, especially forging similar goods and services standards, according to a survey released on Wednesday.
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6. EU appeals to WTO over Russian pork ban

The European Union has appealed to the World Trade Organization over Russia's ban of pork exports from the bloc.
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EUROPEAN LAW

Kosovo court: the EU plans to set up an international court in Kosovo to deal with alleged crimes committed by ethnic-Albanian guerrillas during the war with Serbia.
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French prosecutor wants British ski instructor in prison
Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions

Council Watch

Financial Transactions Tax: French and German finance ministers insisted Monday they aim to at least have the "first stage" of a Financial Transactions Tax (FTT) in place before European elections in May.
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EU mulls civilian law and order mission for Ukraine
Georgia to sign EU pact by June: foreign minister
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Commission Watch

France: the Commission on Wednesday welcomed pledges by France's new premier to slash public spending and drive ahead with structural reforms, but said it awaited further details this month before passing judgement.
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Brussels to create Ukraine 'support group'
EU rules out sanctions over fraud claims at Turkish agency
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Parliament Watch

Russia: EP president Martin Schulz advocated caution over the crisis in Ukraine on Tuesday, saying that "for the moment" he is opposed to new sanctions against Russia.
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Iran hits out at EU Parliament over rights resolution
Austrian MEP resigns after racist outburst
In committee this week, Culture MEPs backed simpler rules for the return of illegally exported cultural objects; and Transport MEPs backed a deal on noise-related operating restrictions at EU airports.
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EU diary

14-17 Apr, European Parliament Plenary Session
14-15 Apr, Foreign Affairs Council
14-15 Apr, Agriculture and Fisheries Council
14-15 Apr, Conference on Audiovisual Affairs "Protection of minors in the digital era"
14-17 Apr, European Parliament Committee Meetings
16 Apr, Commission adopts its monthly infringements package
The Week Ahead
Long-term diary

RESOURCES

EU Law Firms
Summaries of EU Legislation
EU Decision-Making
Treaties of the European Union
Key EU Legal Terms

Other news on EUbusiness this week