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============================================================= EUbusiness Week - Issue 110 23 November 2001 http://www.eubusiness.com Your way through the EU information maze ============================================================= Top stories on EUbusiness ========================= 1. Bitter-sweet economic forecasts for the EU 2. Record EUR 855 million fine for vitamin cartel 3. Innovation gap with US widens 4. European judges rule for Levi Strauss jeans against Tesco 5. Final stamp of approval for money-laundering directive Publisher's Note ================ The fact that national and Community rules remain overly complicated and burdensome will not come as a huge surprise to many of our members. A new Europe-wide survey of 4,000 companies - part of the EU's regular Internal Market Scoreboard - estimates that at least EUR 50 billion could be saved by reducing the burden of red tape on businesses and better quality regulation. Britain and Italy were found to be the most difficult EU Member States to trade with in terms of red tape; Finland was the easiest. The survey also found that most companies, particularly in France, Germany and Denmark, have yet to feel any benefit from government attempts to simplify legislation. The competitivity of European business is badly hampered by red tape. The Laeken European Council next month - which will examine the Commission's Action Plan on Better Regulation - provides EU leaders with an ideal opportunity to create a better regulatory environment for businesses across the Union. Full story: http://www.eubusiness.com/item/63939 Regards, Nick Prag Publisher, EUbusiness mailto:nick@eubusiness.com SPONSOR'S MESSAGE ********************************************************** Do you find this newswire useful? Do you have colleagues who could benefit from it? If so, just register their names here: http://www.eubusiness.com/cgi-bin/register.cgi?page=41 . If you form part of a large company and would be interested in a company-wide distribution, or even a co-branded newswire for clients, contact us at mailto:sales@eubusiness.com . ********************************************************** Sponsor this newswire! EUbusiness Week reaches a global community of over 23,500 people interested in the business environment in the European Union. For details of how to reach this audience, contact us at mailto:sales@eubusiness.com or visit: http://www.eubusiness.com/aboutus/advertise.html ********************************************************** 1. Bitter-sweet economic forecasts for the EU --------------------------------------------- The Commission on Wednesday painted a bitter-sweet economic forecast for the EU over the next three years, with up-and-down GDP growth, mounting unemployment, falling inflation but seasoned with cautious optimism for recovery. On Tuesday, the OECD reported that EU growth would be 1.7% this year, 1.5% in 2002 and 2.9% in 2003. Full story: http://www.eubusiness.com/item/64185 The latest forecasts for the candidate countries predict a sharp downturn of growth in 2001 and 2002. However, average growth rates between 2001 and 2003 are estimated at 4%, which should allow candidates some further catching up with the EU. Full story: http://www.eubusiness.com/item/64242 On Tuesday, the European Bank for Reconstruction and Development said in an annual report that almost all Central and Eastern European economies will enjoy average growth in gross domestic product of 4.3% in 2001 -- down from a record 5.5% in 2000. Full story: http://www.eubusiness.com/item/64108 2. Record EUR 855 million fine for vitamin cartel ------------------------------------------------- The Commission has imposed a record fine of EUR 855 million on vitamin producers, including BASF and Roche, found guilty of operating a price cartel. Roche was fined EUR 462 million and BASF EUR 296 million for their part in a conspiracy to fix the price for some highly popular vitamins. Both said they might appeal. Full story: http://www.eubusiness.com/item/64186 3. Innovation gap with US widens -------------------------------- Underperformance in the field of innovation and slower introduction of information and communication technologies are major factors behind Europe's widening standard of living gap with the United States. The EU's Competitiveness Report 2001 reveals that Gross Domestic Product (GDP) per head in the EU is now less than two thirds of that in the US, the widest gap since the 1960s. Full story: http://www.eubusiness.com/item/64290 4. European judges rule for Levi Strauss jeans against Tesco ------------------------------------------------------------ The European Court of Justice has ruled in favour of US jean maker Levi Strauss, saying the British supermarket chain Tesco had no right to import Levi jeans without going through its authorised agent in Britain. Tesco, Britain's largest supermarket chain, imported the jeans at below market prices from Levi retailers and wholesalers in Mexico, the US and Canada. Full story: http://www.eubusiness.com/item/64059 5. Final stamp of approval for money-laundering directive --------------------------------------------------------- The EU's Council of Ministers has given its final stamp of approval to the proposal to upgrade the EU's money laundering Directive. Following the ministers' approval at their meeting in Brussels, the legislation will enter into force in eighteen months' time. The Directive, which previously only applied to proceeds of drug offences, now obliges Member States to combat laundering of the proceeds of all serious crime - including fraud against the EU budget. Full story: http://www.eubusiness.com/item/64066 SPONSOR'S MESSAGE ********************************************************** Consultants and law firms - free listing! As a registered member of EUbusiness, you are entitled to a free listing in our EUbusiness Consultants directory. Just add your details at http://www.eubusiness.com/cgi-site/eubconsultants.cgi?action=insert ********************************************************** Other stories on EUbusiness this week ===================================== * Top EU officials head for EU-India summit, Pakistan working visit 21-Nov http://www.eubusiness.com/item/64110 * 2002-04 tobacco premiums lay ground for phasing out subsidies 21-Nov http://www.eubusiness.com/item/64225 * EU receives Microsoft response to competition query 21-Nov http://www.eubusiness.com/item/64205 * EU Energy Commissioner says oil prices have fallen too much 21- Nov http://www.eubusiness.com/item/64192 * Blair ally attacks Britain's euro preparations 21-Nov http://www.eubusiness.com/item/64141 * Wallstrom says GMO 'deadlock' holding up research 21-Nov http://www.eubusiness.com/item/64137 * Italy hosts summit of central European states 20-Nov http://www.eubusiness.com/item/64067 * EU and South Korea pledge joint battle against US steel rulings 20-Nov http://www.eubusiness.com/item/64035 * Euro-zone industrial production down 0.5% in September 20-Nov http://www.eubusiness.com/item/64063 * European Commission backs commercial talks with Iran 19-Nov http://www.eubusiness.com/item/64011 * Six EU countries sign cooperation pact on air combat and tech systems 19-Nov http://www.eubusiness.com/item/63931 * Commission accepts two thirds of Parliament's FP6 amendments 19-Nov http://www.eubusiness.com/item/63849 Subscribers only **************** * Hariri sees accord with EU as catalyst for Lebanon's economic revival 21-Nov http://www.eubusiness.com/item/64219 * Keep French francs after Jan 1 for future use says ex-minister 21-Nov http://www.eubusiness.com/item/64213 * German roadhogs to benefit from euro changeover 21-Nov http://www.eubusiness.com/item/64212 * January 1, in comes the euro, out go 12 currencies 20-Nov http://www.eubusiness.com/item/64015 * Euro-zone monetary reserves increase 20-Nov http://www.eubusiness.com/item/64083 * Euro switchover is leading to price rises in some areas: Bundesbank 19-Nov http://www.eubusiness.com/item/63957 ********************************************************** Subscription to our live AFP Newsfeed costs only GBP 50 - EUR 80 per year + VAT. http://www.eubusiness.com/restricted/restricted_subscription.html Inside the EU Institutions ========================== Council Watch ------------- Justice and Home Affairs: Italy and Ireland blocked an accord late last Friday on the spectrum of application of an eventual EU-wide arrest warrant aimed at prosecuting international terrorist rings by eliminating complex and time-consuming extradition procedures. Full story: http://www.eubusiness.com/item/63848 General Affairs Council, 19 November conclusions http://ue.eu.int/Newsroom/LoadDoc.cfm?MAX=1&;DOC=!!!&BID=71&DID=68536&GRP=3973&LANG=1 Agriculture Council: Commissioner Franz Fischler told ministers that he expects to see a gradual recovery in the beef market, which was seriously affected by both mad cow disease and the foot and mouth outbreak. Full story: http://www.eubusiness.com/item/64133 Euro Parliament Watch --------------------- At committee meetings in Brussels this week, the Environment Committee gave strong backing for the European Food Safety Authority; the Transport Committee endorsed with amendments a proposal for a directive designed to improve the training of professional drivers carrying goods or passengers by road; and, following rejection by plenary of the Commission proposal on tobacco excise duties, the Economic and Monetary Affairs Committee agreed to explore possible ways forward and negotiate in good faith with Council and Commission. In conciliation, Parliament and Council moved closer to agreement on the 2002 Budget prior to second reading, but could not agree on working time in road transport. Press: http://www.europarl.eu.int/press/index_en.htm EU diary -------- 23 November, EU-India Summit, New Delhi 26 November, Internal Market, Consumer Affairs & Tourism Council, Brussels 27 November, Fisheries Council, Brussels 28-29 November, European Parliament Plenary, Brussels 29 November, Education & Youth Council, Brussels Internet Monitor ================ Trading with the euro-zone -------------------------- This guide has been prepared by the FEE (Federation des Experts Comptables Europeens) for companies outside the euro area. (PDF) http://europa.eu.int/comm/enterprise/euro/doc/feee-trading-euro.pdf The drugs problem in the EU --------------------------- The European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) this week published its 2001 Annual report on the state of the drugs problem in the EU. http://annualreport.emcdda.org/en/download/ Transfer of personal data to third countries -------------------------------------------- The Commission has produced an explanatory note on developments regarding the Commission Decision (2001/497/EC) on standard contractual clauses for the transfer of personal data to third countries not declared as providing an adequate level of data protection (so far Switzerland, Hungary and the US Safe Harbor System are deemed to provide adequate protection). http://europa.eu.int/comm/internal_market/en/dataprot/news/01-497.htm Community ========= Comments of the Week -------------------- On the question of clearing euro cheques from other eurozones, Peter Barron writes: "there is a proposal for legislation in the EU system on this subject which might bring the cost down. The European Commission has suggested that money transfer charges across the borders of the single market should be the same as transferring them outside (including for cheques)." Anthony McHugh-Jewell comments: "Marion Bywater says that there is a decision to be made on the November 26th as to whether cheque clearing should be taken out of the Commissions proposed regulation. Is there any means of exerting pressure on behalf of the small business at this late stage?" Paula Norris would like "information on a 'ball-park' figure regarding pricing differentiation between the UK and the countries of mainland Europe. A British company is interested in setting sales targets for mainland European countries for its products for 2002 and would like some idea of the generally accepted price differentiation that is necessary in order to succeed in European markets." If you can answer a question, or have one of your own, see our Any Answers section. http://www.eubusiness.com/anyanswers/ Poll ---- What is the best way to help European businesses in the wake of the terrorist attacks in the U.S. - general interest rate cuts, subsidies for specific sectors or tax breaks for specific sectors? Register your vote! http://www.eubusiness.com/poll/ Business Forum -------------- If you're looking for a business partner, buyer, agent, supplier, or a new job - visit our business-to-business forum. http://www.eubusiness.com/discussion/ PressZONE --------- Join EUbusiness' PressZONE and publish your company's news, and legal, financial and regulatory information articles directly onto our site. http://www.eubusiness.com/presszone/ ============================================================= EUbusiness is a free service - please help us keep it that way. Pass this wire to your colleagues and friends and suggest they register for their own copy. ============================================================= Subscription Information ======================== Update your subscriptions by visiting the Profile page and selecting the "My Services" link. http://www.eubusiness.com/profile Alternatively send an email message to: subscribe@eubusiness.com In the BODY of the message type: SUBSCRIBE EUBUSINESS-WEEK If you have forgotten your user name and password, go to: http://www.eubusiness.com/forgotten_login.html ------------------------------------------------------------- To unsubscribe, send a message to: unsubscribe@eubusiness.com In the BODY of the message type: UNSUBSCRIBE EUBUSINESS-WEEK ------------------------------------------------------------- Copyright (C) 2001 EUbusiness Ltd. All rights reserved. ============================================================= EUbusiness Ltd, 212 Piccadilly, London W1J 9HG, United Kingdom Tel: +44 (0)20 7917 9495 Fax: +44 (0)20 7917 9496 http://www.eubusiness.com =============================================================
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