Portugal–US Economic Development ·
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Tuesday, 16 September

Expresso

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Jornal de Negocios

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The Economist

  • Netflix expands in Europe: An American in Paris

    pdiv class=content-image-float-290 img src=http://cdn.static-economist.com/sites/default/files/imagecache/290-width/images/print-edition/20140913_WBP002_0.jpg alt= title= width=290 height=372 / span class=captionA transatlantic tryst with a happy ending/span /divAMERICAN internet giants such as Google and Amazon are the target of much criticism in Europe these days, accused of avoiding taxes, invading privacy and competing unfairly with local firms. The latest transatlantic tech firm to ruffle feathers is Netflix, a fast-growing company that offers streaming video on demand (SVOD) over the internet and which has already got conventional broadcasters and pay-TV companies worried back home in America.Netflix has been signing up viewers in Britain, Ireland, the Netherlands and the Nordic countries; and next week it starts invading the continental heartland, beginning with France. Television companies, telecoms firms and other on-demand video providers fear for their customer bases and profits.Canal+, a French pay-TV firm that launched its own SVOD service three years ago, called CanalPlay, is rustling up new programmes and adding other features to get viewers to stay. Sky Deutschland, a German pay-TV firm, has slashed the monthly charge for its SVOD service, Snap, to €3.99 ($5.16)—it had previously cost up to €9.90. Maxdome, a video on demand (VOD).../p
  • Car rentals: Hire purpose

    pBOOTLEGGERS and bank-robbers were among the first to use car-hire firms when they got going in the 1920s. Nowadays their customers are more likely to be tired and irritable travellers, picking up the keys at an airport hire desk, lacking the energy to quibble with all those optional extras being loaded on to the bill. It is a big business—worldwide turnover last year was about $37 billion. But a wave of consolidation in recent years has left just three firms—Hertz, Avis Budget and Enterprise—with 95% of the market in America and a sizeable share elsewhere. So it ought to be a cosy oligopoly, with the dominant firms feeling no need to compete vigorously.However, Hertz’s boss, Mark Frissora, does not see it that way. An investor backlash against his undercutting of rivals may be one of the reasons why he quit—officially for “personal reasons”—this week.Mr Frissora has been under pressure because of accounting errors discovered at the firm, going back to 2011. But analysts at Morgan Stanley, an investment bank, say Hertz shareholders have also expressed annoyance at the way Mr Frissora was being “too disruptive” and failing to “behave” on price-setting. The analysts think he was right: the rising use of smartphone apps to book cars, the emergence of new business models for car-sharing and a renewed interest in the hire business by carmakers together mean that the industry is.../p
  • Apple’s future: Reluctant reformation

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20140913_WBP003_0.jpg alt= title= width=595 height=335 / /divAPPLE prides itself on constantly re-imagining the future, but even the world’s leading gadget-maker likes to dwell on the past too. Thirty years ago Steve Jobs commanded the stage at the Flint Centre for the Performing Arts near Apple’s headquarters in Cupertino to show off the new Macintosh computer. On September 9th Mr Jobs’s successor, Tim Cook, held a similar performance in the same location to thunderous applause. Those invited were given a chance to play with the gadgets presented on stage: two new iPhones and a wearable device, called the Apple Watch. “This is the next chapter in Apple’s story,” he said, sounding much like the young Mr Jobs in 1984.It may well be true—but not for the reasons most people might think. Consumers, analysts and investors have been howling for proof that Apple can still do the magic tricks of the Jobs era; iPad sales have weakened in recent quarters and the iPhone, launched a tech aeon ago in 2007, still generates more than half of the firm’s revenues. Yet lost in the maelstrom of snazzy new gadgets, applause and photos was an important shift: this week’s announcements showed that Apple’s future will be less about hardware and.../p
  • Share buy-backs: The repurchase revolution

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20140913_WBD001_0.jpg alt= title= width=595 height=335 / /divIN THE decade before America’s housing bubble burst, Home Depot, an American home-improvement chain, spent heavily on building new shops to meet rampant demand for everything from taps to timber. For every dollar of operating cashflow the firm generated, it ploughed back 65 cents into capital investment. The financial crisis hit hard, and demand for some products has yet to recover fully. Sales of kitchens are only 60% of their peak level. But Home Depot has evolved into a very different kind of beast. Its capital investment has fallen by two-thirds and it is investing heavily in something else: its own shares.Since 2008 it has spent 28 cents of every dollar of cashflow on dividends and a further 52 cents on share repurchases. In June it took advantage of low interest rates to issue a $2 billion bond partly to pay for more buy-backs—a “great trade, these kind of opportunities don’t come often”, says Carol Tomé, the firm’s chief financial officer. She says that as more customers buy online, there is less need to invest in physical shops, and that using excess cashflow and cheap debt to repurchase stock creates value for investors. The stockmarket seems to agree:.../p
  • Schumpeter: The China wave

    pdiv class=content-image-full img src=http://cdn.static-economist.com/sites/default/files/imagecache/full-width/images/print-edition/20140913_WBD000_0.jpg alt= title= width=595 height=335 / /divMANAGEMENT thinkers have paid surprisingly little attention to how Chinese firms are run. They routinely ascribe those firms’ rapid growth in recent years to their copious supply of cheap labour, or to generous financial backing from the state, rather than inventiveness. They have much more time for India, particularly its knack for frugal innovation, with all those colourful stories of banks putting cash machines on bikes and taking them into the countryside, and companies building water purifiers out of coconut husks.However, it seems unlikely that China’s companies have come as far as they have just by applying lots of labour and capital. It is also hard to imagine that the huge expansion of China’s education system and its technology industries is not producing fresh management thinking. Western companies knew little about Japan’s system of lean production until its carmakers gobbled up their markets. The danger is that the same will happen with Chinese management ideas.There are, however, signs that these are now getting the attention they deserve. The em class=ItalicMIT Sloan Management Review/em devotes much of its current issue to examining.../p
  • Swiss watches and the Apple Watch: It’s not about time

    pWHEN cheap, accurate quartz watches started pouring out of Asia in the 1970s, many Swiss watchmakers went bust. But the survivors recovered their sangfroid and went on to prosper as crafters of stylish timepieces that proclaim the wearer’s taste and status better than any electronic gizmo could.Do Apple’s new smartwatch and devices like it portend another quartz catastrophe? Some think they might. Wrists are “prime real estate”, points out Richard Seymour, a design consultant. Many people park expensive watches there—especially men, since that is the main sort of jewellery that convention allows them. So if smartwatches catch on, they could evict the Swiss baubles.That seems to be Apple’s ambition. It has been poaching talent from fashion houses (Angela Ahrendts from Burberry and Paul Deneve from Yves Saint Laurent). Its new watches aim to be more than gadgets: some have 18-carat gold cases. Sir Jonathan Ive, Apple’s design chief, has reportedly boasted to colleagues that the Swiss are in trouble.They are not trembling yet. Smartwatches are a mere “information tool” that say “nothing special” about the wearer, says Jean-Claude Biver, chairman of Hublot, a Swiss brand owned by LVMH, a big luxury group. They become obsolete as soon as the technology advances. Swiss watchmakers, on the other hand, are selling “eternity in a box.”Cheaper and less eternal Swiss-watch brands,.../p

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Financial Times — Europe

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Portugal-US Chamber of Commerce - slideshow image

Pan-European Days at the New York Stock Exchange, May 2014

Chamber board member Ricardo Caliço attended the event on behalf of the Chamber and reports back that the three-day conference was aimed at showcasing investment opportunities in Europe. This year, the program included the European Economic Forum at the New York Stock Exchange, featuring representatives from European Union, chief economists from major financial institutions, and other high-level thought-leaders to discuss the latest developments in the major European economies. The Program also included an investor conference at the Waldorf Astoria hotel organized by, ING, KBC Securities, Millennium BCP/Auerbach Grayson and Societe General. The investor conference provided opportunities for Euronext-listed companies from Portugal, Belgium, France, and Netherlands to meet privately with North America based institutional investors. The 13 Portuguese companies presented in the event were: BES, BPI, CTT, EDP, EDPR, Espirito Santo Saude, Galp, Impresa, Jerónimo Martins, Millennium BCP, Mota Engil, REN and Zon. The Portuguese Government was represented by Isabel Castelo Branco, Secretary of State of Treasury, and by the Treasury and Debt Management Agency. See more details here.

Posted on 2 Jun 2014
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Portuguese Artist Julião Sarmento to Exhibit in New York City

The Sean Kelly Gallery will host an exhibition by Portuguese artist Julião Sarmento, from March 28 - May 3, 2014. Further details can be found here.

Posted on 21 Mar 2014
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Chamber Attends Workshop on the New York Nonprofit Revitalization Act of 2013

New York State’s laws governing charitable and other nonprofit organizations date from the 1960s. The New York State Attorney General’s Office has undertaken revisions in the form of the New York Nonprofit Revitalization Act of 2013. The changes have two main purposes: reducing burdens on nonprofits through the modernization of statutory requirements; and increasing public trust in the nonprofit sector by strengthening board governance and enhancing Attorney General enforcement powers. Most provisions will take effect effective July 1, 2014. As a 501c4 nonprofit corporation, the Portugal-US Chamber of Commerce will also need to adhere to new regulations. More information about the Revitalization Act of 2013 can be found here.

Posted on 6 Mar 2014
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Vista Alegre Exhibits at the 2014 San Francisco International Gift Fair

Visit Vista Alegre’s booth at the San Francisco International Gift Fair, 15-18 February 2014. More information about the Fair can be found here.

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Posted on 17 Feb 2014
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Eight Portuguese companies to visit New York City, 4-6 February 2014

In collaboration with the Associacao Comercial de Lisboa (ACL) and the Confederacao Internacional de Empresarios Portugueses (CIEP), the Chamber is hosting eight Portuguese companies from the textile, technology, artisanal foods, olive oil, wine, spirits, shoe wear, and lighting design sectors. The firms will meet with U.S partners based in New York and New Jersey, and will also meet with Portuguese and U.S. officials and representatives of the Portuguese business communities. For further details, contact the Chamber at .(JavaScript must be enabled to view this email address).

Posted on 28 Jan 2014
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Our Organization

The Portugal–US Chamber of Commerce in New York was founded in 1979 to stimulate economic development, trade and investment, and cultural exchange between the United States and Portugal. As a member of the Association of Portuguese-American Chambers of Commerce (APACC), it works closely with its counterparts in Portugal, Canada, and across the United States to promote shared interests in Portugal and expose the vast economic opportunities of the country. The Chamber provides its members ongoing opportunities to network with individuals also engaged in Portugal-US affairs as well as numerous channels by which they can obtain essential bilateral support and information.

Membership Benefits

Membership in the Chamber is open to all individuals who are interested in building a strong economic partnership between Portugal and the United States. Current members range from small businesses to large corporations in the fields of banking and finance, construction, communications, education, import/export, law, and transportation, to name a few.

Membership benefits include:

  • Frequent Chamber events that promote networking and foster strong community ties
  • Access to prominent business and government leaders
  • Alerts of noteworthy cultural and social events in New York City
  • Business luncheons and seminars to expose members to exciting new economic opportunities
  • Access to online resources and members-only directory