News – Law Firm Mazza

31 January 2024

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Banking, Creditworthiness, Automated decision-making relating to natural persons, Court of Justice of the European Union, First Chamber, judgment of 07 December 2023, case C‑634/21

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Credit scores Interpretation of Article 6 (1) and Article 22 of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ 2016, L 119, p. 1, and corrigendum in OJ 2018, L 127, p. 2; hereinafter: the «GDPR». Union law Recital 71 of the GDPR; Article 4 of that regulation, entitled "Definitions"; Article 5 of the same regulation, entitled "Principles applicable to the processing of personal data",...

29 January 2024

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Banking, Banks as protagonists of Europe’s competitiveness

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Analysis and proposals for improvement of the Italian Banking Association communicated to the EU Single jurisdiction Simplification of the rules CMDI Sustainable finance Digital finance Banks, engines of European competitiveness The European legislature that is coming to an end was one of the most difficult of those faced by the EU throughout its history. The effects of a two-year Covid 19 pandemic were unleashed on the continental economy, followed by a second two-year period characterized by an ongoing war on the eastern borders of the Union, to which the tensions unleashed by the conflict in the Middle East have now also been added . A general picture of...

18 January 2024

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Companies, Start – Ups, 1600 Business Angels in Italy active in 120 financing rounds

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Ecosystem growth (Il Sole 24 Ore Radiocor Plus) - Milan, 11 Jan Between 2018 and 2022, the over 1600 Business Angels active in Italy participated in more than 120 financing rounds for an invested amount of over 45 million euros. This is what emerges from the study "Business Angel in Italy: the impact of angel investing" carried out by the Italian Tech Alliance and Growth Capital, in collaboration with the Social Innovation Monitor of the Polytechnic of Turin and the University of East Anglia. According to the report, 70% of the total Business Angels identified operate in Northern Italy: Lombardy leads the way with...

21 December 2023

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USA, GDP growth at 4.9% in the 3rd quarter of 2023

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US economic growth revised downwards in the third quarter of 2023. According to what was found by the Bureau of Economic Analysis, which publishes the definitive data today, American GDP rose by 4.9% on a quarterly basis, compared to +5.2% in the second estimate and against +2.1% in the quarter previous. Consumption growth was recorded, marking +3.1% from the +3.6% recorded in the previous quarter. The PCE price index, a measure of inflation, stood at 2.6% (from 2.5%), while the core PCE index recorded +2% (+2.3% expected), compared to + 3.7% previous. Source Teleborsa...

12 December 2023

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Administrative, Public Contracts and Public Administration Obligations, Service Procurement, Council of State, Section V, Order no. 10530 of 05 December 2023

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Public contracts and public administration obligations - Service procurement - Standardized and labor-intensive characteristics - Lowest price award criterion - Prohibition Prohibition on the provision of the criterion for awarding the lowest price and types of service contracts It is referred to the EU Court of Justice, pursuant to art. 267 TFEU, the following preliminary question: "whether the principles of freedom of establishment and freedom to provide services, referred to in articles. 49 and 56 of the Treaty on the Functioning of the European Union, as well as the Euro-unitary principle of proportionality and art. 67, paragraph 2, of Directive 2014/24/EU preclude...

21 November 2023

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Financial, Sustainable Investments, Cryptocurrency Assets, Trends

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Consob's annual report 'Main trends in sustainable investments and crypto-assets' The high volatility of cryptocurrencies is increasingly characterized as a structural fact of this type of asset, whose market value, in September 2023, was more than 50% lower than that at the end of 2021. There also remains a high vulnerability to cyberattacks, with approximately $3.8 billion stolen globally in hacker attacks in 2022, up from $3.3 billion the previous year. These are some of the most significant data from Consob's annual report 'Main trends in sustainable investments and crypto-assets', now in its second edition. The same survey also confirms the tendency of...

16 November 2023

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US Industry, October 2023 Industrial Production.

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US, October industrial production -0.6% m/m, manufacturing -0.7%. Industrial production in the United States was worse than expected and, in October 2023, recorded a negative variation of 0.6% on a monthly basis, after the variation of +0.1% in the previous month (data revised from a preliminary estimate of + 0.3%) and compared to the -0.3% expected by analysts. On an annual basis there was a decrease of 0.7%. Manufacturing production recorded a decline of 0.7% (-0.3% consensus expectations) which compares with + 0.2% in September (data revised from a preliminary of + 0.4%). Over the same period, capacity utilization relative to all industrial sectors decreased to 78.9%, lower...

10 November 2023

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Copyright, Generic professional qualifications, Music consultant for television broadcasts, Civil Court of Cassation, Labor Section, Interlocutory Ordinance no. 28928 of 10/18/2023

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Legal qualification, Cass. n. 21829/01 Passim Functional activity for the creation of a show Entertainment workers belonging to the second group, that is, according to Cass. 21829/01, workers with generic professional qualifications - in this case musical arrangers/consultants for some television broadcasts - whose activity is however functional to the creation of a show. The figure of musical arrangers/consultants does not fall into any of these categories, instead being part of the second group of entertainment workers, as mentioned above. The special rule, aimed at reducing litigation, evidently concerning only workers in categories 1-14, cannot be applied beyond its scope, and therefore remains irrelevant in...

10 November 2023

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Italian manufacturing industry, Industry 5.0, market trends recorded from 2022 to the first months of the current year with forecasts on the overall trend for 2023

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Industrial factory and process automation Observatory of the Italian automation industry 2023 Very positive photograph of the Industrial Factory and Process Automation sector which saw growth in terms of turnover of 22% compared to the previous year in 2022, leaving behind the unexpected difficulties that began in 2020" - states the President of Anie Automation. Having overcome and capitalized on the discontinuities that have shaken the sector in recent years, the Italian manufacturing industry is now experiencing the beginning of a new era also prompted by the indications of the European Commission which want an evolution of the now consolidated "Industry 4.0" model...

27 October 2023

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Industrial Property, Patents, Trademarks and Start-up Financing

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A new study finds that start-ups that own patents and trademarks are 10 times more successful in raising funding. Ownership of intellectual property (IP) rights improves start-ups' ability to raise funds, particularly for deep tech sectors with higher capital needs. The biotechnology sector leads the way in the use of patents and trademarks, with almost half of the sector's start-ups aiming to obtain these essential rights. The highest numbers of start-ups submitting patent and trademark applications are recorded in Austria, Switzerland, the Czech Republic, Germany, Finland, France and Italy. Munich, 17 October 2023 – The European Patent Office (EPO) and the European Union Intellectual...