In Washington: President Biden on Tuesday began what is expected to be a weeks-long sales pitch to tout the new coronavirus relief package. Biden visited Smith Flooring in Chester, Pennsylvania, a small business that received...more
Because too much of a good thing is always trouble (especially on Wall Street), market watchers are warning of a new tech bubble after Airbnb’s monster IPO on Thursday. The home-sharing app’s shares rose more than 112% to...more
Europe: European Commission communication on EU Retail Payments Strategy - On 24 September 2020 the European Commission published a communication setting out an EU Retail Payments Strategy identifying key priorities and...more
McDermott’s Annual European Competition Review summarizes key developments in European competition rules. During the previous year, several new regulations, notices and guidelines were issued by the European Commission. There...more
Resale Price Maintenance Rules Apply to Members of Purchasing Cooperative - On 29 January 2019, the German competition authority, the Bundeskartellamt, imposed a fine of €13.4 million on ZEG, a purchasing cooperative. The...more
The European Union has fined Mastercard $650 million for “breaching antitrust rules by raising payment-processing fees artificially, leading to higher prices for retailers and consumers” alike. The penalty came after a 6-year...more
On second thought, Wall Street does have some questions about the specifics of the pause in the trade war that apparently emerged from the G-20 sidelines this weekend. And when Wall Street has questions—well, not a banner...more
Coke is buying British coffee-shop chain Costa for $5.1 billion, as the coffee wars just keep on chugging. Costa has 3800 stores in 32 countries and “a foothold in China,” making Coke an instant player in the field....more
Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as...more
How often are we going to be hearing about Brexit aftershocks? I’d expect you better get used to it. Today’s edition: two other real estate funds (these run by Aviva ad M&G) have joined Standard Life in freezing withdrawals...more