The European Commission is kicking off a consultation period to find out how the region’s banks stack up against international rivals https://t.co/SBcN1KbzDW ...

Core Viewpoint - The UK's Competition and Markets Authority (CMA) has raised concerns that Vandemoortele's planned acquisition of Délifrance may significantly reduce competition in the UK market, particularly in the supply of frozen laminated dough products [1][4]. Group 1: Merger Details - Vandemoortele's acquisition of Délifrance, announced in March, aims to create a combined entity valued at €2.4 billion (approximately $2.6 billion), which would provide solutions to retail and foodservice partners [2]. - The CMA's initial investigation indicates that the merger could lead to a substantial lessening of competition, particularly as Vandemoortele and Délifrance are considered "close" competitors [3]. Group 2: Regulatory Assessment - The CMA conducted a comprehensive review, analyzing a wide range of evidence, including internal documents and third-party data, concluding that the merged entity would become the largest supplier of frozen laminated dough products in the UK by a significant margin [3]. - The CMA noted that while there are competitors in continental Europe, they do not provide sufficient competitive constraints in the UK market post-merger [4]. Group 3: Next Steps - The CMA plans to refer the merger for an in-depth "Phase 2" investigation unless Vandemoortele and Délifrance propose acceptable remedies to address the competition concerns by December 15 [4]. - Vandemoortele has acknowledged the CMA's preliminary concerns and is engaged in discussions to explore potential solutions [5][6]. Group 4: Broader Context - The CMA also evaluated other product areas such as frozen bread, frozen patisserie, and frozen savory snacks, where it found limited overlap between the two companies, indicating sufficient competition in those segments [6]. - Concurrently, the European Commission is reviewing concessions submitted by Vandemoortele regarding the takeover, with the deal first being notified in October [7].

From @WSJopinion: It’s rare for a single policy move to create so much economic self-sabotage and diplomatic harm in one stroke, but Europe is succeeding. The European Commission proves its critics right by fining Elon Musk’s social platform.https://t.co/6GO5WIywq0 ...

The European Commission has unveiled a long-awaited proposal to use frozen Russian assets to underpin a loan to Ukraine. Yet Belgium, where most of the assets are held, is not on board https://t.co/m3TNJxK54d ...

Regulatory Landscape - The European Commission added Russia to its list of high-risk jurisdictions for money laundering and terrorist financing [1] Geopolitical Impact - This action represents a further financial fallout for Russia nearly four years after its full-scale invasion of Ukraine [1]

Investment & Collaboration - The European Investment Bank is in discussions with the European Commission regarding a potential investment [1] - The investment targets Brazil's flagship fund for protecting tropical forests worldwide [1] Key Players - Ambroise Fayolle, Vice President of the European Investment Bank, is involved in the discussions [1]

European Commission President Ursula von der Leyen said Brussels is considering all options to react to China’s rare-earth threat https://t.co/QufefuoadR ...

Regulatory Compliance - The European Commission preliminarily found that companies are not complying with Digital Services Act (DSA) rules [1] - The DSA mandates companies to give researchers adequate access to public data [1]

A vote this week on European Commission chief Ursula von der Leyen's leadership has been eclipsed by France's latest political crisis, but the issues are linked. https://t.co/gNgzOSbLMh ...

Core Viewpoint - The Association of Chartered Certified Accountants (ACCA) supports the simplification of regulatory procedures for small and medium-sized enterprises (SMEs) in the EU, responding to the European Commission's consultation on the proposed 28th Regime – The European Innovation Act [1][2]. Group 1: Regulatory Simplification - ACCA endorses the European Commission's efforts to streamline regulations, emphasizing the need to reduce the regulatory burden on businesses to promote growth and enhance cross-border commerce [2][5]. - The association identifies the nurturing of the SME sector as a critical priority for the EU, advocating for a partnership approach to support businesses in workforce skills development [2][3]. Group 2: Skills Gap and Workforce Development - ACCA highlights the skills gap as a significant challenge for European businesses, recommending that the European Commission ease administrative burdens related to training and the recognition of professional qualifications across member states [3][6]. - The organization suggests that promoting cross-border recognition of qualifications through guidance and best practices can help address the skills shortage [6]. Group 3: Confidence and Coordination - ACCA emphasizes that the framework of the 28th Regime must instill confidence and meet the needs of businesses, fostering consistency and coordination between member states [4][5]. - The association calls for the 28th Regime to complement existing initiatives like the EU Startup and Scaleup Strategy [5].