european

Coca-Cola European Partners joins Berkeley and leaves the UK after Brexit

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Coca-Cola European Partners has chosen the Netherlands as a Member State of origin after leaving the United Kingdom of the European Union for the purposes of the Directive on transparency, as reported by the company on Monday to the National Securities Market Commission (CNMV).

Coca-Cola European Partners is listed on Euronext Amsterdam, the New York Stock Exchange, London and the Spanish stock exchanges.

This is the second company to notify the CNMV of its decision to change its home Member State and replace it with the United Kingdom.

Specifically, Berkeley Energia has announced that the home Member State of the company for the negotiation of its actions in the European Union will automatically cease to be the United Kingdom and will become Spain and the competent authority the CMNV, after the consummation of ‘Brexit’.

In a communication to the stock exchange regulator, the company indicated that it is making this decision once the UK transition period ended on 1 January.

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European markets supervisor warns of dubious practices after Brexit | Markets

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The European Securities and Markets Authority has detected attempts by financial companies to “evade” the Mifid 2 regulation as a result of Brexit.

Although the European market regulator has not specified the nationality of these companies, it has indicated that the practices detected have been detected as a consequence of the end of the transition period with the United Kingdom, which ended on December 31.

Specifically, ESMA has indicated that it has detected “questionable practices” in relation to the reverse application, which occurs when a product or service is marketed at the sole initiative of the client.

“Some firms appear to be trying to evade Mifid 2 requirements by including general clauses in their commercial terms or by using ‘I accept’ drop-down boxes where clients ensure that any transaction is executed at the sole initiative of the client,” he said. the regulator alerted.

In this regard, ESMA has reminded companies that when a company from a third country requests clients in the European Union or promotes investment services there, they should not be considered as a service provided at the sole initiative of the client. This also applies even if there are contractual clauses stating otherwise.

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What will Spain do with Turkey?

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The probable official trip this January to Spain of Mevlut Cavusoglu, Foreign Minister of Turkey, invites us to think about a country that demands attention from all of us who share a neighborhood in the Mediterranean, the EU and NATO. In the case of Spanish-Turkish relations, our main political parties have traditionally been pro-Turkish on the basis of Kemalists. The atmosphere of mutual sympathy explains Turkey’s involvement in the Alliance of Civilizations process, or the presence of a Patriot surface-to-air missile battery with Spanish soldiers located in the south of the Anatolian country to protect it from eventual bombardments by Syrian rebels.

Holds Ortega y Gasset that “man has no nature; what it has is history ”. Let us therefore approach historically the Turkish question. After the collapse of the Ottoman Empire, the Marshal’s project Mustafa Kemal Atatürk it was to rebuild Turkey under the guidance of a secular, modern, and pro-Western state, inspired by the principles of the French Revolution.

Three examples

Almost a hundred years later, President Erdogan’s claim is to turn Ataturk’s project around to redirect the country towards the intellectual – and partly geographical – scheme of the Turkish Caliphate Empire. Since 2014, the year of his arrival to the presidency, Erdogan has taken significant steps in that direction. Three examples may interest the reader: the great constitutional reform of 2017, which greatly strengthens the presidential power, the reform of national education, also of 2017, and the transformation in 2020 of the old Byzantine basilica of Hagia Sophia, a museum since 1935, in a mosque.

The failure of the coup d’état promoted in 2016 by the moderate Islamist Fethullah Gülen It has served Erdogan to carry out purges within the Army, a traditional bastion of Kemalism, as well as in the whole of the Public Administration, the media, the universities and the Justice. With the three powers of the State modeled by the Executive – in 2018 Erdogan revalidated his large parliamentary majority – the Turkish system drifts towards a confessional and autocratic model. He premier Turkish is also building the foundation to reconfigure its position on the international board.

Enemies of the free world

With the pro-western countries of the Persian Gulf, Erdogan opts for confrontation. Before Saudi Arabia he wants Sunnis around the world to stop seeing the Kingdom as their main defender, replacing it with Turkey, which thus seeks a position of religious leadership. It is undoubtedly out of step with the states in the area that have established diplomatic relations with Israel –Bahrain and United Arab Emirates– while facing Egypt, where secular military Nasserism predominates, Erdogan has granted asylum to the leaders of the Muslim Brotherhood who fled after the overthrow of Mohammed Mursi.

In Syria and Iraq, Erdogan continues his expansionist strategy under the pretext of preventing the power vacuum from leading to the creation of a Kurdish state

The foreign turn is palpable against Iran. Turkey strengthens ties of friendship with the Persian country, despite the fact that it is subject to international sanctions. The enmity of the ayatollahs with Sunni Saudi Arabia outweighs the rejection generated by the Shiite regime with its sponsorship of terrorism. In Syria and Iraq, Erdogan continues his expansionist strategy under the pretext of preventing the power vacuum of both countries from leading to the creation of a Kurdish state. Ankara already has a military presence in the north of the two nations. Turkey’s arms reach into Libya. Erdogan has sent volunteers from the Syrian war there to prevent Marshal Khalifa Haftar – secular, pro-US and pro-Egypt – from coming to power. For now, it has.

Let’s take a quick look back at Russia, for centuries faced with the Ottoman Empire. Erdogan introduces another turn here, also consistent with his policy. Ankara has bought from Vladimir Putin its S-400 surface-to-air anti-aircraft missile system, which are not compatible with the system of the Atlantic Alliance, to which Turkey belongs. The S-400, in addition, detect the weaknesses of the latest models of F-35 combat aircraft, made by the United States.

The growing Ankara-Moscow understanding has been expressed on the ground in the Nagorno Karabakh conflict (2019-2020). Turkey has positioned and remotely controlled military strategists, mercenaries and war material to support the Muslim side, in such a way that Azerbaijan has won the war. The Armenians, of the Christian-Orthodox tradition, have been defeated and, therefore, geographically reduced. Russia has tacitly let Erdogan operate. Putin has prioritized his alliance with Turkey over defending a country as small as Armenia.

The corsairs return to the Aegean

Let us now look to the shore of the eastern Mediterranean. In 1974 Turkey invaded northern Cyprus, mostly Turkish Cypriot. The incursion caused the displacement of 150,000 Greek Cypriots, who fled to the south of the island, where the Greeks are the majority. Cyprus has since lived split in two. Turkey is the only country in the world that has recognized (1983) the existence of the so-called Turkish Republic of Northern Cyprus. Since then, United Nations resolutions seek that the entire island be a single bizonal state. Erdogan, throughout 2020, has repeatedly demonstrated for the recognition of the existence of two fully independent states, a fact that has generated notorious international rejection.

Sovereignty of Greece and Cyprus

The problems are accentuated east of the Mediterranean. Although the Treaty of Lausanne (1923) was detrimental to Turkish interests, the many islands in these waters have been of Greek population since time immemorial. Today, international maritime law recognizes the full sovereignty of Greece and Cyprus over their maritime zones. This is indicated by both the Lausanne Treaty and the 1982 UN Convention on the Law of the Sea. However, it is not only increasingly common for Turkish ships to cross Greek and Cypriot maritime areas unilaterally, but also Turkey has been drilling for hydrocarbons in the Greek and Cypriot seabed, where it lacks any sovereignty. The tension with Athens and Nicosia is enormous.

Close the clamp

The roadmap of premier Turkish comes from the Justice and Development Party, founded by Erdogan himself in 2001. The three characteristics of his neo-Ottomanism are nationalism, the expansion of Sunni Islamism and the ultimate claim to restore the religious influence that Turkey exercised during the Caliphate Ottoman. The international drift of this ideology implies that Erdogan chose to be on the side of those refractory to the Free Orderl established after the Second World War.

Europe’s fed up with Turkey is such that at any moment the Union will decide that the next drop that Erdogan drops will be the last. It should be noted that the European perception coincides with the incoming Biden Administration. In fact, the outgoing secretary of state, Mike Pompeo, has already opened to the highest tone on December 14, when he decreed harsh measures to punish the Turkish arms industry.

Bob Dylan won the 2000 Oscar for best original song with Things Have Changed. His letter serves us; things in Ankara have changed. Specifically, they have shifted from Kemalism to neo-Ottomanism. Spain’s position vis-à-vis Turkey is consistent with our usual attitude in foreign policy; betting on understanding, which is usually a smarter option than rushing towards escalating conflict. However, the question of Turkey will demand in Spain the opening of a deep debate, similar in its magnitude to the turn made by Erdogan.

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Brexit also affects pets: travel requirements

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If you want to travel with pets to a country of the European Union from the United Kingdom, it will be mandatory to present a health certificate issued in the previous ten days

What’s new with Brexit for traveling with pets

He Brexit also affects domestic pets (dogs Cats…). From January 1 of this year the EU passport for pets is no longer valid in the UK, and if you want to travel with pets to a country of the European Union from the United Kingdom, it will be mandatory to present a health certificate issued in the ten days prior to the trip. In addition, entry points will be established in each country, which must be equipped with the proper facilities for the control of pets.

Pets must also have an identification chip, be vaccinated against rabies (at least 21 days before the trip) and have been treated against tapeworms. The health certificate must be signed by a veterinarian, and will be valid for four months to be able to travel between EU countries.

In Spain, the entry points for pets will be 15 airports, 21 ports and the land borders of Ceuta and Melilla.

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La Nación / European stock markets end in red in an atypical year marked by the pandemic

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The shares of the pharmaceutical company Pfizer soared on Monday before the opening of Wall Street, after the announcement that the vaccine it develops together with BioNTech is “90 percent effective” against COVID-19 infections. Pfizer’s stock rose 17% shortly after 1:30 PM GMT.

International markets skyrocketed following the announcement by Pfizer and BioNTech that their COVID-19 vaccine is 90% effective, based on published results of its phase 3 trial, the last stage before formally seeking approval.

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This effectiveness in protecting patients against the SARS-CoV-2 virus was achieved seven days after the second dose of the vaccine and 28 days after the first, the American pharmaceutical company and the German biotechnology company said in a statement. set.

The hopeful announcement propelled European stock markets and was hailed as “big news” by Donald Trump. The level of efficacy of the vaccine was measured by comparing the number of participants infected with the new coronavirus in the group that received the vaccine and among those who were subjected to a placebo, according to the joint statement.

Read more: Argentina expects a vaccine at the end of the year

Based on projections, both companies affirmed that they plan to supply 50 million doses in the world in 2020 and up to 1.300 million in 2021. The other pharmaceutical groups in the New York square benefited from this news, which is known when the number of coronavirus infections They are reaching record levels in much of the world, and part of Europe is once again confined.

Merck stock was up more than 5%, while Johnson & Johnson stock was up just over 4%. Moderna earned more than 10%. Gilead, who has a COVID-19 treatment, redemsivir, earned less than 1%.

After celebrating the victory of Democrat Joe Biden in the US presidential elections, the excitement went through the world stock markets with the announcement of an effective vaccine against COVID-19. With the announcement at noon in Europe by the Pfizer and Biontech laboratories that their vaccine would be “90% effective” against COVID-19, markets exploded. By 11:20 GMT, Paris posted a rise of over 7%, Frankfurt over 6%, London and Milan were over 5%.

Altogether, the European squares registered their best results in a session of the last six months. In the United States, futures contracts, which allow the trend to be known before transactions begin, followed the same direction, with the Dow Jones increasing by 5.30%. On the other hand, the Nasdaq, whose stocks were the great beneficiaries of the effects of the pandemic, presented a moderate rise of 0.77%.

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Oil prices were also accelerating: around 12:10 GMT, a barrel of Brent from the North Sea for January delivery was up 7.58% compared to Friday’s close, at $ 42.44. In New York, a barrel of WTI with delivery in December grew by 8.78%, to $ 40.40.

“This news is huge, we have been waiting for it for a long time,” said Daniel Larrouturou, who manages shares in Dôm Finance, asked by AFP in Paris just after the announcement. “It is the news of the year, maybe even of the decade. The coronavirus vaccine has been found, ”said Jochen Stanzl, an analyst at CMC Markets, in Frankfurt. “Almost nothing could be more beautiful than this information after four years of transatlantic divisions under the Trump administration,” he added.

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Before the announcement that spread enthusiasm in Europe, Asian and European markets savored the victory of Democrat Joe Biden in the US presidential elections. In Asia, the Nikkei star index of the Tokyo stock market, which has already risen about 6% in all of last week, closed with a rise of 2.12%.

In the debt market, the appetite for risk was crushing the sovereign indices of the countries considered the highest risk, such as Greece and Italy, whose 10-year indices reached new historical lows, respectively at 0.728% and 0.617%.

The announcement benefited all the sectors most affected by the activity restriction measures, such as travel, aeronautics or banks. The news from the labs triggered supersonic increases at Airbus (+ 20%), IAG (+ 30%), Lufthansa (+ 30%), Rolls Royce (+ 29%) and Easyjet (+ 25%).

In contrast, the companies that benefited from the lockdown measures recorded sharp falls: in Frankfurt, Delivery Hero (food delivery to home) was the only value in the red (-4.45%), in the MDax (index of German average values) Hello Fresh (delivery of food basket to cook at home) lost 18.2%. In London, Ocado fell 8.26% and Just Eat Takeaway, 7.14%

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This announcement comes at a time when the United States, like Europe, are facing records of new infections in recent days and that the accumulation of new restrictions to stop the second wave could seriously damage the economic recovery.

Thus, the prospect of a health improvement gained ground with the victory of Joe Biden, from whom “the stock markets expect greater predictability and less volatility,” Stanzl points out. Investors have no doubt that Joe Biden will become US president in January, even if Donald Trump still doesn’t want to admit defeat.

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“Investors believe that their legal recourse only represents an attempt to save the image” of the outgoing president, analyzes Joshua Mahony, an analyst at IG. At first, investors feared a Democratic victory, synonymous with increases in corporate taxes and taxes on capital income, but now they are betting on moderate policy measures.

Well, “it seems likely that the Republicans will retain control of the Senate and if they did, it would be more difficult for the Biden administration to introduce stronger regulation for the tech and pharmaceutical sectors, as well as increase taxes,” observes David Madden, analyst for CMC Markets . In currencies, the dollar fell 0.07% against the euro, to 1.1882 dollars for one euro, and the yen fell 1.00% against the dollar (104.41 yen) and 1.10% against to the euro (124.08 yen).

Source: AFP.

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UK Brexit Act in force

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Brexi
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Queen agrees: UK Brexit law in place

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Queen Elizabeth II approved the British Prime Minister’s ratification law. Photo: Chris Jackson / PA Wire / dpa

London It is done: Great Britain has approved the post-Brexit agreement with the EU. After long and difficult negotiations, things moved very quickly in London.

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The way is clear for the Brexit trade pact between Great Britain and the European Union. Queen Elizabeth II as the British head of state put the ratification law into effect on Thursday night, as the spokesman for the House of Commons, Lindsay Hoyle, said.

Both houses of Parliament in London had previously approved the document. The agreement will avoid a hard economic break if Great Britain also leaves the EU internal market and the customs union on Friday night. The EU itself had already left the country at the end of January 2020.

“The fate of this great country is now firmly in our hands,” said Prime Minister Boris Johnson. “On December 31st at 11 pm (local time) a new beginning in the history of our country and a new relationship with the EU as its closest ally begins. That moment has finally come, and now is the time to seize it, ”said Johnson.

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The almost 1250-page trade and partnership agreement regulates economic relations after the Brexit transition phase from January 1, 2021. This avoids tariffs and keeps friction losses in retail as low as possible. At the same time, many other issues are regulated, including fishing and cooperation on energy, transport, justice, police.

Still, there are big changes. In the future, controls will be necessary at borders because standards have to be checked, including for agricultural products. For citizens, the possibility of simply moving is over. The visa exemption for travel will also be limited in time in future.

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The EU leaders had already signed the Brexit trade pact this morning. After EU Commission head Ursula von der Leyen and EU Council President Charles Michel had signed the document, it was flown to London on a plane belonging to the British Air Force. Prime Minister Johnson signed the agreement there. Great Britain had already left the European Union at the end of January 2020. The Brexit transition phase agreed at the time is now ending.

© dpa-infocom, dpa: 201231-99-858053 / 2

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European Christmas Eve – Sergio Otamendi}

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Once again a European pact was reached when the time limit was reached. The agreement between The 27 and London on an orderly exit of Great Britain from the European Union, sealed on Christmas Eve, gives a break to both parties, who have freed the possibility of a harsh rupture, which would have had economic and social consequences on both sides. of the Canal difficult to measure. But despite the rhetoric of the British “premier”, Boris Johnson, it is his country that is the most affected by the union of the countries of the European club that will continue to have British borders open for their products and services without tariffs and without restrictions. , which for economic purposes means a situation very similar to the current one, although customs procedures are hindered.

The outcome of the negotiations has demonstrated Europe’s strength when it works together and puts common interests before individuals. In this sense, the disdain with which Angela Merkel and Emmanuel Macron have treated their British counterpart, referring all negotiations to the European team in charge of the mission, has been an example of what awaits the United Kingdom when developing the Brexit deal. Indirectly, the situation created on both sides of the Canal with the European decision to close communications with Great Britain as a result of the new strain of covid-19 detected there, with thousands of trucks stuck at the border, has been a warning of what it could have been a normal situation had the agreement not been reached.

The fisheries issue that has delayed the agreement has been nothing more than an excuse of last resort given its limited influence on the GDP of Great Britain, although it was also a matter of defense of European interests whose fishermen have been working in the British waters have always been, and a trifle if one takes into account that the EU’s trade with its former partner is 700,000 million euros per year and the trade balance extremely favorable to all European countries.

Johnson’s rhetoric maintains that Britain has regained its sovereignty and the rule of law, but Brexit has internal consequences that will be seen in the coming years. For now, the free trade area between the two Ireland is maintained and therefore the validity of the Good Friday agreements is known, but on the Scottish side, the nationalists are demanding a new independence referendum which in their case – overcoming many obstacles – allow them to return to the European shelter.

All is well that ends well despite the fact that the United Kingdom’s exit from the European Union is thus sealed, which will now be able to dedicate all its efforts to other endeavors that strengthen the club. Because what was agreed with London is also a warning to sailors for countries that may have the intention of abandoning it or using this resource in national politics.

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The Ibex deflates in its attack at 8,200 points | Markets

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The markets start the session higher, confident that, once and for all, the United States will be able to pass a fiscal stimulus plan that has been bogged down in Congress since the summer. Thus, the Stock Market faces the final stretch of the year with a positive tone: Tomorrow, Friday, is the expiration of options and futures corresponding to December 2020, so that, for the purposes of institutional investors, the exercise can be given, almost, by closed.

The opening of the Ibex has been bullish, with a gain of 0.32% at 8,165 points in the first change, and the session has dawned calm. Only a few stocks are up more than 1%, and only Arcelor was up more than 2% at the open. Repsol and the banks posted gains of around 1%, while IAG and Meliá also celebrate the foreseeable Brexit agreement.

In the United States, negotiations continue, given that the plan needs the green light of both the Senate (Republican) and the House of Representatives, under Democratic control. Mitch McConell, leader of the Republican Senate majority, has assured that “I am optimistic, we will be able to reach an understanding soon.” The plan presented by a group of legislators amounts to 900,000 million dollars, and is negotiated hand in hand with the new spending ceiling, which must be approved between today and tomorrow to avoid the closure of the federal government.

Federal Reserve Chairman Jerome Powell, who guaranteed that he will continue to pump money into the economy, also indicated yesterday the urgent need for a fiscal plan as the pandemic rages in the country. Yesterday the record for deaths in one day was broken, with more than 3,700 victims in 24 hours. Vaccination is already underway in the country.

In Europe, eyes are on the Brexit negotiations, which have provided another reason for optimism (or, at least, have driven pessimism away) from stockbrokers. The talks are entering a decisive phase, having reached a compromise on the thorniest issue, that of a fair competitive framework, but with differences in weight, that is, in the access of European ships to British waters. The pound, however, rises, and Boris Johnson recalled that Parliament may meet during Christmas.

The euro, meanwhile, continues to hit highs in two years, encouraged by the general good mood of the market: during the most difficult months of the pandemic, investors have taken refuge in the dollar. It is at $ 1,223 per euro. Oil, a thermometer of the economic outlook, is at its highest since March, above $ 51.

In the debt market, the reluctance of the Fed to extend bond purchases and the relative optimism of the Stock Exchanges cause long-term interest rate hikes. The 10-year US bond has three rises, as does the debt of Spain or Germany. The 10-year Spanish bond is trading at 0.03%,

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European stocks advance stimulated by the vaccine and awaiting Brexit

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FILE PHOTO: The German DAX price index inside the Frankfurt Stock Exchange, Germany, December 9, 2020. REUTERS / Personal

Dec 16 (Reuters) – European stocks expanded their gains for the third consecutive session on Wednesday, fueled by rising hopes for a Brexit trade deal and the possible deployment of a COVID-19 vaccine on the continent before 2021.

The pan-European STOXX 600 Index was up 0.5%, with an eye to provisional PMIs for December to be released in the morning. A slight improvement in business activity is expected compared to the previous month.

Optimism in Europe remains in line with the session in Asia after a sharp close on Wall Street, with the Nasdaq index hitting another record, fueled by the growing prospect of more fiscal stimulus in the US.

Investors will also keep an eye on the outcome of the Fed’s two-day meeting. The decision will be made after the European markets close at 2pm ET (1900 GMT).

Information from Susan Mathew in Bengaluru; edited by Arun Koyyur, translated by Michael Susin at the Gdansk newsroom

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