Traduction de «Directeur de la recherche sur l'investissement » (Français → Anglais) :

43. Calls on the Commission, in particular its DG Trade, to move from a ‘passive’ to an ’active’ approach to the OECD Guidelines, inter alia by applying to adhere to the OECD Declaration on International Investment and Multinational Enterprises, which includes the OECD Guidelines, ensuring the promotion of, and continuous support for, the OECD Guidelines by the EU’s Delegations in third countries, funding capacity-building initiatives in conjunction with businesses, trade unions and civil society in third countries in relation to the implementation of the Guidelines, and ensuring that the Guidelines are specifically cited in all new agre ...[+++]ements between the EU and third countries, including all trade and investment treaties; calls for the EU to mount a major diplomatic effort to persuade more countries internationally to become signatories and to provide civil society groups with concrete support for raising ‘specific instances’ of alleged breaches, in cooperation with Member States;

The Commission has applied Articles 87 and 88 of the Treaty in numerous decisions and gained sufficient experience to define general compatibility criteria as regards aid in favour of SMEs, in the form of investment aid in and outside assisted areas, in the form of risk capital schemes and in the area of research, development and innovation, in particular in the context of the implementation of Commission Regulation (EC) No 70/2001 of 12 January 2001 on the application of Articles 87 and 88 of the EC Treaty to State aid to small and m ...[+++]edium-sized enterprises , and as regards the extension of the scope of that Regulation to include aid for research and development, the implementation of Commission Regulation (EC) No 364/2004 of 25 February 2004 amending Regulation (EC) No 70/2001 , the implementation of the Commission communication on State aid and risk capital and the Community guidelines on State aid to promote risk capital investments in small and medium-sized enterprises , as well as the implementation of the Community framework for State aid for research and development and innovation

financial analysts and other relevant persons must not undertake personal transactions or trade, other than as market makers acting in good faith and in the ordinary course of market making or in the execution of an unsolicited client order, on behalf of any other person, including the investment firm, in financial instruments to which investment research relates, or in any related financial instruments, with knowledge of the likely timing or content of that investment research which is not publicly available or available to clients a ...[+++]nd cannot readily be inferred from information that is so available, until the recipients of the investment research have had a reasonable opportunity to act on it.

1. Member States shall require investment firms which produce, or arrange for the production of, investment research that is intended or likely to be subsequently disseminated to clients of the firm or to the public, under their own responsibility or that of a member of their group, to ensure the implementation of all the measures set out in Article 22(3) in relation to the financial analysts involved in the production of the inves ...[+++]tment research and other relevant persons whose responsibilities or business interests may conflict with the interests of the persons to whom the investment research is disseminated.

Of course, I cannot rule out that the time may come when a further cut in interest rates, as part of the European Central Bank's policy on interest rates, may reduce the gap with rates in the United States and stimulate business investment and performance.

The CEO of the second largest aerospace and defence company in the world EADS has actually bemoaned the fact that the US already invests six times more than Europe in armaments research and that while the research budgets in the US continue to rise, those in Europe stagnate.