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============================================================= EUbusiness Week - Issue 106 26 October 2001 http://www.eubusiness.com Your way through the EU information maze ============================================================= Top stories on EUbusiness ========================= 1. European airlines say transatlantic traffic down by 36.2 pct 2. EU summit backs US in war aims, sees room for rate cuts 3. MEPs overturn compromise on employee consultation 4. EU candidates gain symbolic victory on cigarette taxes 5. Poland makes accession progress 6. EU says Santa suit claim is so much Ho! Ho! Ho! Publisher's Note ================ Companies looking for even small amounts of risk capital know how difficult things are at the moment. Well, Europe's risk capital industry is likely to fall even further behind that of the United States without continued reform to improve investment and create an integrated cross-border market. The warning is contained in a review of the Risk Capital Action Plan (RCAP) just published by the Commission. Internal Market Commissioner Frits Bolkestein urges EU countries to press ahead with implementing the RCAP which is supposed to facilitate investment and stimulate risk capital. The review highlights the slow headway being made by EU proposals such as those on an EU patent and on supplementary pension funds. It also shows that, while venture capital funds raised in Europe nearly doubled last year, investment by VCs in the US was four times larger than that in Europe. And corporate venturing - an increasingly important source of financing for entrepreneurs - remains only 20-25% of the level in the USA. We can only hope that Mr Bolkestein's confidence that "the European venture capital industry will emerge stronger and more competitive from the current cyclical downturn" is well placed. Full story: http://www.eubusiness.com/item/61591 At EUbusiness we can talk about venture capital with some experience, and are now offering a major share in EUbusiness.com in exchange for funding and/or resources to take us to profit. If you would like a copy of EUbusiness' Information Memorandum for a share in EUbusiness.com, please email me as soon as possible. Regards, Nick Prag Publisher, EUbusiness mailto:nick@eubusiness.com SPONSOR'S MESSAGE ********************************************************** Europe's 15,000 largest companies Order Euroconfidentiel's 1200-page Directory, including the top 100 companies in each EU Member State and data on the 500 largest companies in Europe based on sales, profits, profitability, employees - GBP 215 http://www.eubusiness.com/item/50760 ********************************************************** Sponsor this newswire! EUbusiness Week reaches a global community of over 22,300 people interested in the business environment in the European Union. For details of how to reach this audience, contact Dawn Bennett at mailto:sales@eubusiness.com or visit: http://www.eubusiness.com/aboutus/advertise.html ********************************************************** 1. European airlines say transatlantic traffic down by 36.2 pct --------------------------------------------------------------- European airlines have seen a fall of 36.2 per cent in traffic over the North Atlantic since the September 11 attacks in the United States and a 9.6 per cent drop in traffic on European routes, says the Association of European Airlines. The association said that in the five weeks since the attacks the market had stabilised on transatlantic routes at about one third lower than the figure for the same period last year. Full story: http://www.eubusiness.com/item/61481 2. EU summit backs US in war aims, sees room for rate cuts ---------------------------------------------------------- At their second summit since the attacks on the US, EU leaders at the weekend reiterated their "staunchest" support for America in its military strikes on Afghanistan and labelled the elimination of the al-Qaeda network the legitimate and primary aim of the attacks. Full story: http://www.eubusiness.com/item/60992 The EU and the European Central Bank also found common ground on the possibility of an interest rate cut under the current economic trends. Full story: http://www.eubusiness.com/item/61107 3. MEPs overturn compromise on employee consultation ---------------------------------------------------- The European Parliament has backed tough amendments to a draft Directive requiring companies with at least 50 employees to consult them on changes in work organisation. MEPs are now likely to negotiate with the Council of Ministers to seek agreement on a final text. The vote rejected a compromise that would have allowed small companies in the UK and other countries with no such domestic legislation up to seven years to implement the measure. Full story: http://www.eubusiness.com/item/61480 4. EU candidates gain symbolic victory on cigarette taxes --------------------------------------------------------- The Commission is to allow candidate countries to delay imposing high excise duties on cigarettes after enlargement. Tuesday's decision is important in that it marks the first time the EU has permitted candidate countries to deviate from EU norms -- albeit for a limited period of time -- in the key internal market sector. Full story: http://www.eubusiness.com/item/61518 5. Poland makes accession progress ---------------------------------- Poland wants to take part in the debate on the future of the EU on the same level as member countries, new Prime Minister Leszek Miller said on Thursday - a week after his ex-communist Democratic Left Alliance-led government was sworn into office. Full story: http://www.eubusiness.com/item/61569 Miller this week held talks with German Chancellor Gerhard Schroeder in a bid to reinvigorate moves towards Polish membership of the EU... Full story: http://www.eubusiness.com/item/61477 (subscribers only) ...and Poland reached agreement on meeting the EU's environmental norms. Full story: http://www.eubusiness.com/item/61426 (subscribers only) 6. EU says Santa suit claim is so much Ho! Ho! Ho! -------------------------------------------------- The Commission has rejected claims by British retailer Woolworths that it must sell Mother Christmas outfits because of EU law as "a marketing prank." "EU rules aim to prevent discrimination against female employees at work, and have nothing at all to do with the characteristics of goods sold in shops," said a Commission spokesman. In a press release Tuesday, Woolworths said "politically correct (gender) legislation from Brussels means that Woolworths stores are being made to stock 'Mother Christmas' outfits along with Father Christmas outfits." Full story: http://www.eubusiness.com/item/61434 SPONSOR'S MESSAGE ********************************************************** UK Company Data Full statutory and financial information on over 3.6 million UK companies as compiled by ICC. Free to search. http://www.eubusiness.com/icc/ ********************************************************** Other stories on EUbusiness this week ===================================== * EU drive to reduce intake of dioxin and PCBs 25-Oct http://www.eubusiness.com/item/61607 * European IT competition dominated by German innovators 25-Oct http://www.eubusiness.com/item/61601 * EU urges Britain to be more flexible on alcohol, tobacco imports 24-Oct http://www.eubusiness.com/item/61576 * EU mulls potential terror threat to Europe's food supply 24-Oct http://www.eubusiness.com/item/61474 * Boost for European data and content industry 24-Oct http://www.eubusiness.com/item/61472 * British share of Europe investment pie shrinks: report 24-Oct http://www.eubusiness.com/item/61436 * EU sees "no injury" to US steel industry from imports 23-Oct http://www.eubusiness.com/item/61368 * EU calls for freer, impartial Japanese telecom market 23-Oct http://www.eubusiness.com/item/61330 * World economic slowdown eases commission criticism of Irish inflation 23-Oct http://www.eubusiness.com/item/61372 * EU sees foot-and-mouth waning 23-Oct http://www.eubusiness.com/item/61367 * EU institutions slammed over staff parental leave rights 23-Oct http://www.eubusiness.com/item/61324 * Euro price message getting through in France 23-Oct http://www.eubusiness.com/item/61298 * Leading think-tanks say Germany on the brink of recession 22- Oct http://www.eubusiness.com/item/61246 Subscribers only **************** * German police retrieve stolen euro booty 25-Oct http://www.eubusiness.com/item/61615 * Conference on Balkan reforms opens in Bucharest 25-Oct http://www.eubusiness.com/item/61583 * Cyprus will be among first of new countries to join EU: Prodi 25-Oct http://www.eubusiness.com/item/61621 * Austrian Airlines to give Lauda Air 73-million-euro cash injection 24-Oct http://www.eubusiness.com/item/61506 * Euro-zone posts 5.4 billion euro trade surplus in August 23- Oct http://www.eubusiness.com/item/61347 * EU signals tough line on state aid to Swissair 23-Oct http://www.eubusiness.com/item/61307 * Euro-zone monetary reserves decline 23-Oct http://www.eubusiness.com/item/61344 * Political, practical reasons keep EU on military sidelines 22- Oct http://www.eubusiness.com/item/61211 * Prodi's summit no-show sends Brussels tongues wagging 22-Oct http://www.eubusiness.com/item/61227 ********************************************************** 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 ------------- Ghent European Council declaration: http://ue.eu.int/Pressdata/en/ec/d%C3%A9cls-gand-en1.pdf Agriculture Council, 23 October, Luxembourg (in French only) http://ue.eu.int/Pressdata/fr/agricult/ACF2D42.pdf Euro Parliament Watch --------------------- The European Parliament in plenary session this week approved the first draft of the 100-bn-euro budget for 2002. Full story: http://www.eubusiness.com/item/61596 MEPs also told Turkey it had a way to go on human rights... Full story: http://www.eubusiness.com/item/61581 (subscribers only) ...and a British MEP on Wednesday rejected a private report that labelled nuclear reprocessing plants in France and Britain potentially more dangerous than the exploded reactor at Chernobyl in the Ukraine. Full story: http://www.eubusiness.com/item/61510 (subscribers only) Press: http://www.europarl.eu.int/press/index_en.htm EU diary -------- 29 October, Environment Council, Luxembourg 29-30 October, General Affairs Council, Luxembourg 30 October, Research Council, Luxembourg 5 November, Culture & Audio-visual Council, Brussels 6 November, ECOFIN Council, Brussels 8 November, Co-operation & Development Council, Brussels Internet Monitor ================ Regional cooperation in the Western Balkans ------------------------------------------- The Commission has adopted a strategy to help the Western Balkans secure political and economic stabilisation while also developing closer association with the EU, and opening a road towards eventual EU membership. Details: http://europa.eu.int/comm/external_relations/see/news/ip01_1464.htm Agriculture and the WTO ----------------------- Commissioner Franz Fischler outlines Europe's position in the WTO farm trade talks. http://europa.eu.int/comm/agriculture/external/wto/index_en.htm A European Food Authority ------------------------- Political agreement on the Food Authority - and a decision on its location - is expected by the end of 2001, with formal adoption of the Regulation early in 2002. Background information and texts can be found at http://europa.eu.int/comm/food/fs/efa/index_en.html Economic and Social Committee ----------------------------- If you are one the many who are unsure as to the role of the European Economic and Social Committee, this site will put you straight: http://www.esc.eu.int/pages/en/org/plaquette_e.htm Community ========= 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 -------------- * In 'Find an Agent', Humphrey Murphy is looking for partners for his Irish-based leisure company. 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. 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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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