What Does Fintech Mean for Startups and Incumbents?

Finance Disrupted BannerIn today’s financial services landscape, innovative collaborations between established firms and start-ups surviving disruption. This fall, join editors of The Economist and more than 275 financial services leaders, innovative thinkers and disruptive entrepreneurs at Finance Disrupted, to ask: to succeed in the fintech revolution, must you collaborate or die?

Click here to learn more and view the agenda.

Some of our notable speakers participating in the event include:

  • Jeremy Allaire, Founder, chairman and chief executive, Circle
  • Mike Cagney, Chief executive, chairman and co-founder, SoFi
  • Thomas Curry,Comptroller of the currency, US Department of Treasury
  • Usama Fayyad,Chief data officer, Barclays
  • Neil Hiltz,Head of financial services, global vertical strategy, Facebook
  • John E. Schlifske,Chairman and chief executive, Northwestern Mutual
  • Alexa von Tobel,Founder and chief executive, LearnVest.com

Save 15% on the current available rate when you register with our special code, USCIB15. Please note that rates will increase after September 23rd 2016.

Register here.

The Role of Collaboration in Meeting the Challenges of the Fintech Revolution

The wave of fintech disruption that is sweeping through the financial services industry is approaching a critical phase. The rise of startups targeting every corner of financial services – from currency transactions to trading and wealth management – has won the attention of the industry’s incumbent giants.  Innovative collaborations between established firms and start-ups have spurred new business models in the wake of fintech disruption.

On October 13th in New York, editors of The Economist and more than 275 financial services experts, entrepreneurs, investors, academics and policymakers to explore the role of collaboration in surviving the fintech revolution. Chaired by The Economist‘s editor-in-chief, Zanny Minton Beddoes, the conference will ask: will success in the fintech revolution mean collaborate or die?

Click here to learn more and view the agenda.

Some of our notable speakers participating in the event include:

  • Jeremy Allaire, Founder, chairman and chief executive, Circle
  • Mike Cagney, Chief executive, chairman and co-founder, SoFi
  • Thomas Curry,Comptroller of the currency, US Department of Treasury
  • Usama Fayyad,Chief data officer, Barclays
  • Neil Hiltz,Head of financial services, global vertical strategy, Facebook
  • John E. Schlifske,Chairman and chief executive, Northwestern Mutual
  • Alexa von Tobel,Founder and chief executive, LearnVest.com

View the full list of speakers.

Save 15% on the current available rate when you register with our special code, USCIB15. Please note that rates will increase after August 19th 2016.  Register here.

What’s the Big Deal About Trade?

AIADA_TradeThe 2016 presidential race has brought trade under heavy fire, with both candidates opposing the the Trans-Pacific Partnership. Jonathan Huneke, USCIB vice president of communications and public affairs was quoted in an article by the American International Automobile Dealers Association about current misconceptions about trade.

Read the article

Jonathan Huneke, the vice president of Communications at the U.S. Council for International Business, echoes that belief, noting that many Americans believe the economic climate is working against them. “Despite steady growth in jobs since 2010, wage stagnation in the United States has led many in the United States to believe that the odds in the current economy are stacked against them,” he notes.

According to Huneke, “American dealers have a lot at stake in keeping our trade policy fundamentally open and forward-leaning. There is huge demand and growth potential for innovative automobiles that meet the needs of U.S. consumers. Many of the most innovative automakers rely heavily on the American market, and on skilled American workers, to compete globally.”

Huneke agrees. “Trade agreements serve important diplomatic and geopolitical purposes in addition to their economic benefits, something that most Americans probably understand,” he says. “For example, the TPP and TTIP agreements can play an important role at a time when we are seeking to strengthen our Asian and European alliances in the face of threats like North Korea and ISIS.”

Read the article

Finance Disrupted – Collaborate or Die?

Finance Disrupted BannerUSCIB is proud to partner with The Economist for the October 13 event “Finance Disrupted: Collaborate or Die?” in New York City. The wave of fintech disruption that is sweeping through the financial services industry is approaching a critical phase. The rise of startups targeting every corner of financial services – from currency transactions to trading and wealth management – has won the attention of the industry’s incumbent giants.

USCIB members save 15% on The Economist’s “Finance Disrupted” conference

Building on 2015’s acclaimed Buttonwood Gathering, “The Valley Meets the Street”, we are pleased to announce that our Finance Disrupted conference will take place this October 13th 2016 at 10 on the Park at the Time Warner Center in New York. Join editors of The Economist, industry leaders, entrepreneurs, investors, academics and policymakers to explore the role of collaboration in surviving the fintech revolution.

Visit The Economist’s website for program and registration information.

Making a Difference: USCIB Annual Report 2015 – 2016

Annual_Report_2015-2016Around the world, and across every industry, companies are facing increased regulation of their operations. New corporate tax rules, heightened privacy protections, environmental reporting, forced localization – these are just a few examples of the proliferating regulatory burden with which global companies must contend. The cost of regulation is increasing, eating into profits and hampering job creation.

In addressing regulation of cross-border commerce, one important avenue is to work with intergovernmental institutions – such as the United Nations, World Trade Organization and the OECD – that help set the global rules of the road and recommend best practices to governments. This is at the heart of what USCIB does. And we do so both offensively, providing proactive education and informed views to policymakers at the national and international level, to ensure better, more sensible polices, and defensively, helping companies mitigate the costs of rules and regulations.

Find out more about our work and how we can help your company in our Annual Report.

Global Business Encourages China to Lead on Environmental Goods Agreement

Solar-workers_3Washington, D.C., July 8, 2016 – The United States Council for International Business (USCIB) joined dozens of international business organizations in urging the Chinese government to take a leadership role in concluding an ambitious Environmental Goods Agreement (EGA) this year. A concluded EGA, which is being negotiated under the umbrella of the World Trade Organization (WTO) among 17 WTO members, including the United States and China, would eliminate tariffs on a wide range of environmental goods and technologies.

“China has taken an increasing interest in playing a global leadership role on energy and environmental issues,” USCIB and other business organizations stated in a letter to Chinese government officials on June 8. “As this year’s host of the G20, China has a golden opportunity to lead the successful conclusion of the EGA by the 2016 G20 Hangzhou summit in September.” The G20 Trade Ministers are meeting in Shanghai this weekend.

The letter notes that as the largest producer of green technologies among EGA members, China has much to gain from a concluded agreement. A recent study found that the agreement would increase China’s exports by $27 billion as well as result in substantial economic benefits linked to improved environmental quality.

“We strongly urge China to demonstrate leadership that results in the conclusion of a commercially meaningful EGA this year,” the letter stated. “A concluded agreement would promote economic growth, improve environmental outcomes and advance innovation not only in China, but also around the world.”

Read the entire letter

Read more about USCIB’s China Committee

Contact:
Jonathan Huneke, VP communications, USCIB
+1 212.703.5043 or jhuneke@uscib.org

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

Business Can Help Shape the Future of Global Trade

The following op-ed was published in the Wall Street Journal on May 26.

The World Trade Organization is seeking input from the private sector on the next steps for trade liberalization.

In the span of two short years, the World Trade Organization has given businesspeople around the world a number of reasons to sit up and take notice. Through a series of negotiated trade agreements, it has demonstrated that its efforts can bring massive, widespread benefits. Now the WTO is looking to work in closer partnership with the private sector to bring further gains to the international trade regime.

In 2013, WTO members delivered the Trade Facilitation Agreement. This was the first global trade deal in 18 years. Once ratified, it promises to slash red tape and reduce border delays. Trade costs will be lowered by an average of nearly 15%. Global trade could be lifted by as much as $1 trillion.

This impact is bigger than if every remaining tariff in the world were reduced to zero. Full implementation could create more than 20 million jobs and lift global gross-domestic-product growth by up to 0.5 percentage points. Businesses around the world will get a significant boost.

Then in 2015, a group of WTO members came together to free up trade on a range of information-technology products, including the latest-generation semiconductors, telecommunications satellites, medical devices and video games.

This deal, expanding the existing Information Technology Agreement, eliminates tariffs on approximately $1.3 trillion in annual exports. That’s more than the value of the global trade in automobiles.

That same year, WTO members agreed on a world-wide ban on export subsidies on agricultural products, the biggest agriculture-trade reform in 20 years. Governments had been spending up to $13 billion on these economically distorting subsidies each year. The private sector supported these deals, and their engagement made a huge difference in the outcome.

Before this recent flurry of breakthroughs at the WTO, businesses had very little interest in trade negotiations. Prolonged lack of progress in global trade negotiations had led many countries to focus elsewhere and pursue bilateral and regional trade initiatives. Such initiatives can deliver significant economic gains, but there’s no question that global agreements can deliver even more benefits to more people.

The private sector recognizes this. A complicated patchwork of overlapping trade regulations and standards is less efficient than global rules. That’s why business leaders want and need a strong WTO.

Shared rules and enhanced market access in 162 countries is something no regional trade agreement can offer. Now that the WTO has showed that it can deliver these results, private-sector interest is rising fast and businesses are asking: What’s next?

The precise shape of the WTO’s future negotiating work remains an open question. All members agree that long-standing differences in agriculture, industrial goods and trade in services must be tackled, and that development should remain a central priority.

But at present there’s no agreement on precisely how to proceed with these negotiations, or what specifically should be on the agenda. Areas for discussion include supporting trade by micro-, small- and medium-size enterprises; promoting and facilitating investments; supporting e-commerce; tackling fisheries subsidies; and lowering nontariff barriers.

In this context, the private sector has asked that its voice to be heard, not to dictate the agenda, but to provide perspective. Two major business organizations, the International Chamber of Commerce and the B-20 (the private-sector arm of the G-20) approached the WTO requesting a platform to discuss current trade issues and present their thoughts to WTO members.

That meeting, the first of its kind, will take place on Monday in Geneva. Business leaders from small and large enterprises, from developed and developing countries, along with other stakeholders, will brainstorm with WTO members. We hope that this interaction will help their governments as they shape the WTO’s future agenda.

In recent years the WTO has shown that, with the support of the private sector and others, it can achieve major, economically significant trade agreements. Strengthening this partnership will ensure that the WTO’s record is maintained and that it keeps delivering for growth, development and job creation around the world.

Mr. Azevêdo is the director-general of the World Trade Organization. Mr. Mittal is the first vice chairman of the International Chamber of Commerce.

Trans-Pacific Partnership’s Vital Role in U.S.-Japan relations

The following op-ed by USCIB President and CEO Peter Robinson and Kunio Ishihara, vice chairman of the Japanese business federation Keidanren, appeared in The Seattle Times yesterday on the economic and geopolitical benefits of the Trans-Pacific Partnership (TPP) for the United States, Japan and the Asia-Pacific region. Ishihara led a Japanese business delegation to Seattle and other U.S. cities this week.

You can view the op-ed on The Seattle Times’ website at http://www.seattletimes.com/opinion/trans-pacific-partnerships-vital-role-in-us-japan-relations/

USCIB Welcomes International Trade Commission Report on Trans-Pacific Partnership

Washington, D.C., May 18, 2016 – The United States Council for International Business (USCIB) welcomed today’s release of a long-awaited report by the U.S. International Trade Commission (ITC) on the economic impact of the Trans-Pacific Partnership (TPP). USCIB said that the report’s publication represents a further step in the process of Congressional review and ultimate ratification of the landmark 12-nation agreement.

“Like others in the trade community, it will take us some time to scrutinize and digest this substantial study, but this is an important step in the process” said USCIB President and CEO Peter M. Robinson. “We are confident that TPP will be, on balance, a plus for American workers and companies and the growth of the American economy. We support the continued process to move the agreement forward, and encourage Congress to review the ITC’s findings closely and weigh all aspects of this important, 21st-century trade agreement.”

About USCIB:

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

Contact:

Jonathan Huneke, VP communications, USCIB
+1 212.703.5043 or jhuneke@uscib.org

USCIB Recognized with Presidential-Level Export Award

New York-based United States Council for International Business honored as one of 123 companies nationwide for success in exporting and export service

This press release was issued by the U.S. Department of Commerce

L-R: U.S. Secretary of Commerce Penny Pritzker and Derek Leite, USCIB’s director of Trade Services
U.S. Secretary of Commerce Penny Pritzker (left) presents the President’s “E” Award to Derek Leite, USCIB’s director of trade services.

New York, N.Y., May 16, 2016 –  United States Council for International Business (USCIB) was recognized today as one of 123 companies and organizations to receive the President’s “E” Award for exporting excellence during a ceremony in Washington, D.C..

Honoring USCIB was Secretary of Commerce Penny Pritzker for their work as an advocate of open markets and promoter of U.S. exports. Derek Leite, USCIB’s director of Trade Services, was on hand to receive the honors from the Secretary.

“USCIB has demonstrated a sustained commitment to export expansion,” said Secretary Pritzker in her congratulatory letter to the company. “The “E” Awards Committee was very impressed with USCIB’s dedication to promoting international trade. The organization’s innovative work to implement the ATA Carnet was also particularly notable. USCIB’s achievements have undoubtedly contributed to national export expansion efforts that support the U.S. economy and create American jobs.”

The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.

“This is a period of expanding use of ATA Carnets by U.S. companies,” said Leite. “This spurs U.S. exports worldwide, and helps to smooth the flow of global commerce. We would like to thank our ATA Carnet issuing providers, Boomerang Carnets and Roanoke Trade, for their persistent efforts to help grow ATA Carnet usage in the United States and around the world.”

Carmela Mammas, director of the U.S. Commercial Service New York, said this type of recognition highlights how hard businesses and organizations in The Empire State are working to be successful in a globalized economy.

“Congratulations to the United States Council for International Business on their well-deserved “E” Award,” said Mammas. “USCIB has played a crucial role in strengthening and growing our economy by providing export promotion services to the business community. They should be proud of this extraordinary achievement.”

The “E” Award ceremony is one of the highlights of World Trade Month, a month-long celebration of the benefits that U.S. exports bring to national, state, and local economies through job creation and growth.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

Contact:
Jonathan Huneke, VP communications, USCIB
+1 212.703.5043 or jhuneke@uscib.org