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Europe Daily Bulletin No. 7758

14 July 2000
Contents Publication in full By article 33 / 45
ECONOMIC INTERPENETRATION / (eu) banks

The leading Swiss bank UBS (net results CHF 6.3 billion in 1999 and 49,000 employed) has made a $10.8 billion bid for acquisition of the fourth largest US brokerage and fortune management company PAINEWEBBER (net profits $626 million in 1999), which has a balance sheet total of $5.29 billion with 385 offices in the United States and 20,000 employed). The operation, which will be half in cash and half in share swap, will be carried out on the basis of the price of $73.5 per share.

Contents

THE DAY IN POLITICS
(EU) CHARTER OF FUNDAMENTAL RIGHTS: Part dedicated to civil and political rights is finalised - Convention starts examination of economic and social rights
(EU) EU/INSTITUTIONAL REFORM: Mr. Fagiolo outlines his Italian vision of an integrated European Union, were unanimity would only be needed for decisions of a constitutional nature
(EU) EU/UNITED KINGDOM: Blair says that no decision will be taken on accession to the euro before 2002
(EU) EPP/ED: Poettering assesses first year of legislature
(EU) EP/ARMENIA:
(EU) EU/INSTITUTIONAL REFORM: French Presidency stresses the comprehensive nature of negotiations - Presentation of a paper on Commission of Friday
(EU) INSTITUTIONAL REFORM: Leinen calls on French Presidency to add European political parties to IGC agenda
(EU) EU/HAITI: European Union calls for respect of constitutional legality and mentions suspension of aid
(EU) RADICAL PARTY: Radical Party rallies to save its advisory status with the UN
GENERAL NEWS
(EU) EU/ECOFIN: Council President Fabius informs colleagues of his top priorities and the spirit in which he sees his term of Presidency
(EU) EU/ENVIRONMENT: Improvement of world governance in field of environment and economic and social usefulness of genetically modified organisms on agenda of Informal Council on Friday and Saturday in Paris
(EU) EU/ENVIRONMENT: Commission initiatives for restoring confidence in European system for authorising genetically modified organisms and in biotechnology
(EU) EU/TRADE: Commission confirms importers must pay customs duties on products not qualifying for zero duty (textiles from Bangladesh with false origin certificates)
(EU) EU/UNITED STATES: Commission decides to adopt decision approving Euro-American agreement on data protection, taking remarks of European Parliament into account
(EU) EU/DEVELOPMENT: Differences between Commission and UN Secretary General over initiative to lighten debt - EU urges other industrialised countries to follow its example
(EU) EP/STATUTE OF MEP: EP Legal Affairs Committee approves parliamentary allowance proposed by independent experts, but favours other solution for reimbursement of expenses and MEP retirement
(EU) EU/TAXATION: Commission pursues Germany and Greece for failure to respect European legislation on excise duties
(EU) EP/SOCIAL: Parliament calls on Commission for proposals aimed at improving maternity leave (duration, remuneration, etc.)
(EU) EU/STRUCTURAL FUNDS: Anna Diamantopoulou signs two "education and training" programmes for Portugal for a duration of 7 years, with a budget of 2,312 million euro
(EU) EU/COMPETITION: Inflicting for the first time a fine on a third part for lack of information, Co0mmission demands EUR 950,000 from Mitsubishi in Kvaerner/Ahlström case
(EU) EU/COMPETITION: Commission authorises acquisition of Endemol by telefonica
(EU) EU/COMPETITION: Green light for acquisition of Danone brewing activities (Kronenberg beer) by Scottish & Newcastle
(EU) EU/COMPETITION: After an in-depth investigation, Commission authorises acquisition of Dyno (Norway) by Industri Kapital (Netherlands), subject to conditions
(EU) EU/CARS: New six monthly Commission report on car prices in EU reopens debate on prices in United Kingdom
(EU) EU/STATE AID: European Commission opens investigation into purchase of Juliana and Cadiz shipyards by Spanish State
(EU) EU/STATE AID: Commission prohibits Italian regional aid to Fiat Mirafiori Carrozzeria, but approves aid to innovation
(EU) EU/STATE AID: Commission approves aid to investment in BASF site of Schwarzheide (Germany)
(EU) EU/TRANSPORTS: Commission sends injunction to Italy to obtain information requested since 1993 on aid system for ports
(EU) EU/STATE AID: Commission investigates aid granted to two companies from former Lintra holding (Germany)
(EU) EU/TAXATION: Commission authorises British "tonnage tax" regime in maritime sector
(EU) UE/OECD: Communiqué of ministerial session confirms evolution in OECD - Attention paid to problems of society and to public opinion, severe regarding "tax havens", code of conduct for multinationals
(EU) EU/NEWS: "Europe by Satellite" accessible throughout the world
ECONOMIC INTERPENETRATION
(EU) Banks:
(EU) Banks:
(EU) Banks:
(EU) Telecommunications:
(EU) Telecommunications:
(EU) Chemicals:
(EU) Chemicals:
(EU) Oil sector:
(EU) Public works buildings:
(EU) Medical sector:
(EU) Distribution:
EUROPE Document N° 2201: final communique of the annual meeting of the OECD Council, in Paris end-June
VALUE OF THE EURO IN DIFFERENT CURRENCIES 13/07/2000: