Daily Report for Executives Index-Summary

UAE

UKRAINE

– Financial crisis, IMF prepared to lend $16.5B, Managing Dir. Strauss-Kahn says strength of Ukraine's economic program justifies high level of access, 208:A–4 (10/28/08); IMF approves 2-year $16.4B loan, 216:A–18 (11/7/08)
– Raw materials used in processed goods, American Scrap Coalition report criticizes restrictions on exports, 224:A–2 (11/20/08)
– Value-added tax, government considers tighter VAT procedures to shut down illegal refund schemes, 216:I–1 (11/7/08)
– WTO accession

– – Cabinet of Ministers approves plan of action to fulfill country's outstanding membership obligations, 244:A–2 (12/19/08)
– – Foreign trade balance, government approves series of measures to improve, including changes in its WTO negotiations tactics, 235:A–11 (12/8/08)
– – Parliament slow to approve all bills needed to harmonize its legislation with WTO requirements, 200:A–2 (10/16/08)
– – Russia warns of possible repercussions because third-party imports into Ukraine could free up Ukrainian products for export to Russia, thus undercutting Russian domestic producers, 192:A–3 (10/3/08)

UNEMPLOYMENT

See EMPLOYMENT AND UNEMPLOYMENT

UNEMPLOYMENT INSURANCE

– Benefits, tax suspension

– – Presidential candidates propose temporary suspension of tax on benefits, lawmakers weigh second stimulus package, 199:G–6 (10/15/08); candidates' proposals have flaws, Tax Policy Center report, 212:G–1 (11/3/08)
– – Snowe (R-Me) bill

See LEGISLATION, FEDERAL, S 3718

– Extension of benefits

– – Economic stimulus package, extension of benefits should be included in any package, lawmakers and witnesses say during House Education and Labor Comm. hearing, 207:A–21 (10/27/08)
– – Natl. Employment Law Project and state labor officials say Congress should extend, expand, and modernize benefits, 221:A–36 (11/17/08)
– – Reed (D-RI) bill

See LEGISLATION, FEDERAL, S 3507

– – Senate expected to begin debate on $6B extension of benefits, with plans to attach $25B automaker loan package, Reid (D-Nev) says, 221:A–32 (11/17/08); further action, see LEGISLATION, FEDERAL, HR 2233, HR 6867*
– – Senate stimulus package, Reid's (D-Nev) plan draws on Obama's (D-Ill) proposals, 200:G–1 (10/16/08); Reid, Byrd (D-WVa) include UI extension in bill, 222:G–8 (11/18/08); further action, see LEGISLATION, FEDERAL, S 3689
– – U.S. Chamber of Commerce would consider extensions for states experiencing “severe” unemployment rates, 216:A–28 (11/7/08)
– – Wall Street unemployment, governors of Conn., N.Y., and N.J. call on Labor Sec'y Chao to approve $48.2M tri-state Natl. Emergency Grant to address needs of thousands of workers, 224:A–9 (11/20/08)

– Forms 940, manual signature required by preparers on paper returns, 247:G–3 (12/24/08)
– Initial claims, DOL report, 192:EE–1 (10/3/08); 197:EE–1 (10/10/08); 201:EE–5 (10/17/08); 206:EE–1 (10/24/08); 211:EE–3 (10/31/08); 216:EE–3 (11/7/08); 220:EE–2 (11/14/08); 225:EE–2 (11/21/08); 229:EE–5 (11/28/08); 234:EE–1 (12/5/08); 239:EE–4 (12/12/08); 244:EE–2 (12/19/08); 248:EE–3 (12/29/08); text of data, 192:E–8 (10/3/08); 197:E–1 (10/10/08); 201:E–17 (10/17/08); 206:E–1 (10/24/08); 211:E–9 (10/31/08); 216:E–8 (11/7/08); 220:E–6 (11/14/08); 225:E–1 (11/21/08); 229:E–13 (11/28/08); 234:E–8 (12/5/08); 239:E–6 (12/12/08); 244:E–6 (12/19/08); 248:E–10 (12/29/08)
– Overcompensation, refund offsets to recover payments

See LEGISLATION, FEDERAL, HR 2608*

– State programs certified for 2008, 218:G–4 (11/12/08); text of DOL notice, letter, 218:TaxCore (11/12/08)

UNITED ARAB EMIRATES (UAE)

– Polyethylene terephthalate film, sheet, and strip (PET film), ITC finds U.S. industry threatened, paving way for duties, 204:A–16 (10/22/08)
– USTR Schwab to discuss with UAE officials ways to expand bilateral trade and investment, 204:A–19 (10/22/08)

UNITED KINGDOM (UK)

– Air travel, finance chief scraps “green” taxes as fiscal issues take precedence, 228:I–3 (11/26/08)
– Antitrust, Office of Fair Trading approves InBev's $52B acquisition of Anheuser-Busch, 224:A–8 (11/20/08)
– “Associated company” redefined for capital gains degrouping rules, 243:I–2 (12/18/08)
– Brownfield sites, government proposes extending relief for cleanup, new limits, 229:I–1 (11/28/08)
– Chemicals, UK proposed law would let customs authorities detain goods suspected of violating EU REACH law, 204:A–24 (10/22/08)
– Climate change, House of Commons approves bill after revisions to include aviation and shipping emissions reduction requirements, 214:A–13 (11/5/08); House of Lords amends bill to limit use of overseas emissions credits, 223:A–15 (11/19/08)
– Corporate tax accounting, Parliament set to begin debate on first tax rewrite measure, 236:I–1 (12/9/08)
– Corporate tax compliance, UK and U.S. strategies compared, Ernst & Young Webcast, 238:G–8 (12/11/08)
– Depreciation, R&D costs, PwC Webcast addresses European legislative changes, 218:I–4 (11/12/08)
– Economic stimulus expected, government announces date for pre-budget report, 221:I–1 (11/17/08); VAT rate cut as part of plan, 227:I–3 (11/25/08)
– Enterprise investments, relief for individuals increases, 242:I–4 (12/17/08)
– Financial market turmoil, tax agency unveils measures on preference stock, non-sterling currency losses, 244:I–3 (12/19/08)
– Foreign dividends

– – Tobacco group, BAT, wins first stage of tax challenge, 231:I–2 (12/2/08)
– – UK offers firms new exemption, more consultation on CFC issues, 228:I–1 (11/26/08); KPMG practitioner says proposals mark major shift in tax policy, 237:I–2 (12/10/08)

– Fuel additives not used in motor fuel, ECJ backs UK tax treatment, 247:I–3 (12/24/08)
– Gibraltar, EU court backs low corporate tax regime, 244:I–5 (12/19/08)
– GlaxoSmithKline official discusses transfer pricing settlement with IRS, GSK commitment to remain in UK, 201:I–4 (10/17/08)
– Global financial crisis

– – Bank of England to expand range of collateral eligible for its 3-month sterling repurchase operations to ease restrictions to liquidity, 194:A–39 (10/7/08); bankers urged to curb bonuses to facilitate $88.7B industry bailout, 199:A–20 (10/15/08); bank to introduce 3 major reforms to money market rules in bid to ease borrowing process, 202:A–13 (10/20/08); EC approves changes submitted by British government to alter bank guarantee and recapitalization, 247:A–5 (12/24/08)
– – Banking sector regulation, new proposed legislation aims to strengthen, 233:A–7 (12/4/08)
– – Liquidity requirements for banks, mortgage providers, and investment firms, Financial Services Authority seeks comment on proposed changes, 236:A–5 (12/9/08)
– – PM Brown convenes first meeting of newly established Natl. Economic Council to debate pressing challenges, 194:A–18 (10/7/08); Brown announces $86.8B rescue package, partially nationalizing banking system, 196:A–3 (10/9/08); Brown unveils comprehensive plan to establish worldwide financial market supervisory regime, 200:A–19 (10/16/08)
– – Systemic risk management, Bank of England calls for new countercyclical measures, 209:A–21 (10/29/08)

– Guernsey, Jersey, and British Virgin Islands sign 16 bilateral information agreements with OECD countries, 212:I–1 (11/3/08); Jersey asks U.S. for recognition of its transparency efforts, 217:I–2 (11/10/08); Jersey letter to Treasury, 217:TaxCore (11/10/08); Guernsey, Jersey to ratify pacts with Nordic countries, 230:I–4 (12/1/08)
– Hazardous waste, tax agency plans to remove landfill tax exemption, 210:I–2 (10/30/08)
– Income tax, top earners hit with 45 percent tax, adviser warns marginal rate could be higher, 227:I–3 (11/25/08)
– Interest rate cut by Bank of England by one percent to 2 percent, lowest rate since 1951, 234:EE–5 (12/5/08)
– Investment funds, revised tax rules published, 241:I–3 (12/16/08); comments sought, 242:I–2 (12/17/08)
– Landfill taxes, remediation relief, tax agency issues updated guidance, 248:I–2 (12/29/08)
– Leases of plant and machinery, revenue agency seeks comment on draft, 217:I–2 (11/10/08)
– Motor vehicles, finance chief scales back “green” taxes as fiscal issues take precedence, 228:I–3 (11/26/08)
– North Sea oil and gas, government seeks views on fiscal regime, production incentives, 231:I–2 (12/2/08)
– Nuclear power sectors in England and Wales made environmental improvements in 2007 by cutting water and energy use as well as discharges to air and water, Environment Agency says, 248:A–12 (12/29/08)
– Offshore financial centers, treasury to undertake review, 233:I–1 (12/4/08)
– Pension funds, European Comm'n challenges tax discrimination, 231:I–5 (12/2/08)
– Property investment funds, government to tighten rules, 230:I–3 (12/1/08)
– Sale and leaseback clauses, revenue agency seeks comment on draft, 204:I–5 (10/22/08)
– Securities

– – Listing regime, Financial Services Authority seeks comment on proposed changes, 234:A–26 (12/5/08)
– – Rumor circulation, FINRA and UK's Financial Services Authority unveil plans to address, 225:A–15 (11/21/08)

– Tax avoidance

– – Corporate “tax gap,” parliamentary committee urges tax agency action, transfer pricing may be one focus, 205:I–4 (10/23/08)
– – Disclosures, revenue agency publishes updated guidance, 204:I–1 (10/22/08); new form introduced, 212:I–3 (11/3/08)
– – Financial products, tax agency issues proposals, 233:I–4 (12/4/08)
– – Partnerships, tax agency publishes draft rewrite, 207:I–2 (10/27/08)

– Transfer pricing, UK conducting pre-inquiry risk assessments, Deloitte official says, 213:I–1 (11/4/08)
– Value-added tax

– – Bad debt relief, guidance for claims updated, 241:I–3 (12/16/08)
– – Fiscal stimulus plan cuts VAT by 2.5 percent until 2010, 227:I–3 (11/25/08)
– – Special investment funds, Treasury amends VAT provisions, 210:I–2 (10/30/08)
– – Sports clubs, affiliation fees exempt from VAT, ECJ overrules UK tax authorities, 202:I–3 (10/20/08)

UNITED NATIONS (UN)

– Ambassador from U.S., Pres.-elect Obama (D-Ill) nominates Rice, 231:AA–1 (12/2/08)

UNIVERSITIES

See COLLEGES AND UNIVERSITIES

URUGUAY

– U.S. and Uruguay sign 2 protocols to trade and investment framework pact, 192:A–12 (10/3/08)

U.S. POSSESSIONS

See specific territories

USDA

See AGRICULTURE DEPARTMENT (USDA)

USPS

See POSTAL SERVICE (USPS)

USTR

See TRADE REPRESENTATIVE, U.S. (USTR)

UTAH

– Aircraft equipment exemption revamped, now available to interstate common carriers, 205:H–2 (10/23/08)
– Oil and gas leases in sensitive, fragile lands

See OIL AND GAS

– Property taxes, state senator warns counties to fix assessment system, 220:H–3 (11/14/08)

UTILITIES

– Acid rain, EPA to issue interim final rule reaffirming provisions of program following court decision vacating Clean Air Interstate Rule, 240:A–1 (12/15/08)
– Advanced coal projects, IRS describes application process for §48A credits, 198:G–2 (10/14/08); text of Notice 2008-96, 198:TaxCore (10/14/08)
– California

– – Electricity crisis of 2000-2001, FERC tries to arrange settlements of remaining cases in which high-priced, multi-year wholesale power contracts challenged, 244:A–7 (12/19/08)
– – Riverside County school district efforts to use Clean Air Act to block construction by GE subsidiary of natural gas-fueled power plant about 1,100 feet from an elementary school rejected (9th Cir.), 225:A–3 (11/21/08)
– – San Diego Gas & Electric's “Sunrise Powerlink” to move power from Imperial County to metropolitan San Diego approved by PUC, 248:A–8 (12/29/08)

– Clean Air Interstate Rule, requests for rehearing cite court's earlier decision in case (D.C. Cir.), 192:A–31 (10/3/08); court requests more information on petitions for rehearing, 205:A–23 (10/23/08); several states and some power companies ask judges to remand CAIR to EPA to be substantially revised, 216:A–14 (11/7/08); EPA files to stay decision striking down rule until replacement can be drafted (D.C. Cir.), 223:A–7 (11/19/08); Ozone Transport Comm'n members question their ability to meet air quality standards without rule, 224:A–15 (11/20/08); fate of cap-and-trade programs uncertain in wake of decision to overturn rule, speakers at conference say, 226:A–8 (11/24/08); decision vacating rule reversed and remanded to EPA (D.C. Cir.), 247:A–6 (12/24/08)
– Clean coal investment credit

See LEGISLATION, FEDERAL, HR 1424*

– Climate change

See CLIMATE CHANGE

– Competition in organized regional electricity markets, FERC approves final rule to strengthen, some critics say it still does not go far enough, 201:A–18 (10/17/08)
– Cooling water intake structure rules, industry and DOJ say existing power plants should be allowed to use cost-benefit analysis when considering steps to protect fish (U.S., oral arg), 232:A–29 (12/3/08)
– Credit crisis poses immediate problems for U.S. electric power industry, BNA Special Report, 191:C–1 (10/2/08)
– Customer contributions, IFRIC accounting guidance much changed, nearly final, 216:I–1 (11/7/08)
– Del. environmental regulators ask EPA to act immediately to require emissions reductions from power plants in 9 upwind states that are impairing state's ability to meet federal air quality standards, 242:A–11 (12/17/08)
– FutureGen project to build low-emissions power plant with carbon sequestration, Durbin (D-Ill) to continue work during Obama (D-Ill) admin. to maintain government's commitment, 227:A–10 (11/25/08)
– Gasification projects

– – Ind., Duke Energy's proposed $2.35B coal-gasification power plant's regulatory approval upheld (Ind. Ct. App.), 202:A–18 (10/20/08)
– – Ky., environmental activists to challenge Peabody Energy's plan to build multibillion-dollar coal-to-gas plant, 245:A–2 (12/22/08)
– – No §48B credits available, IRS says, 198:G–2 (10/14/08); text of Notice 2008-97, 198:TaxCore (10/14/08)
– – Univ. of Wyo. and GE Energy announce agreement to build research center dedicated to development of gasification and cleaner coal, 212:A–17 (11/3/08)

– Hazardous air pollutants, coalition of 12 health and environmental groups files lawsuit to force EPA to set long overdue standards for power plants (D.D.C.), 244:A–8 (12/19/08)
– Hedge fund or institutional investment that would signify control of generating company operations, Electric Power Supply Ass'n defends request to FERC to increase level, 202:A–20 (10/20/08)
– Ill., Franklin County Power blocked from constructing coal-fired power plant because company lacks valid prevention of significant deterioration permit from state EPA (7th Cir.), 209:A–26 (10/29/08)
– Ky. Mountain Power's application to build 600-megawatt coal-fired power plant expired, state's Office of Administrative Hearings rules, 229:A–13 (11/28/08)
– Mergers and acquisitions

– – Exelon proposes to buy NRG Energy for $6.2B, 203:A–11 (10/21/08); Exelon seeks federal regulatory approvals, 244:A–22 (12/19/08)
– – Warren Buffet's MidAmerican Energy Holdings files application with FERC to acquire Constellation Energy Group in Md., 200:A–26 (10/16/08)

– National parks, EPA announces it will not finalize rule that would have allowed new coal-fired power plants to be built nearby, 238:A–15 (12/11/08)
– New source review

– – Boxer (D-Cal) and Carper (D-Del) urge EPA Adm'r Johnson to withdraw plan to limit how strictly provisions would be applied at power plants, 208:A–8 (10/28/08)
– – Cinergy, PSI Energy and Cincinnati Gas & Electric may be ordered to pay for projects aimed at mitigating past harm at power plant in West Terre Haute (S.D. Ind.), 204:A–24 (10/22/08); retrial ordered amid allegations of witness misconduct, 245:A–20 (12/22/08); Cinergy paid witness $34,800 to testify on behalf of company, 247:A–11 (12/24/08)
– – EPA announces it will not finalize rule that would have eased requirements, 238:A–15 (12/11/08)
– – Fugitive emissions, EPA finalizes rule that excludes some industries from having to count when determining whether they must install new pollution controls, 238:A–29 (12/11/08)
– – Waxman (D-Cal) urges EPA to withdraw proposal to restrict application at power plants, 204:A–17 (10/22/08)

– N.M. files petition seeking to block EPA's granting air permit for proposed coal-fired Desert Rock Energy facility, 193:A–17 (10/6/08)
– N.C., Duke Energy must submit to formal maximum achievable control technology (MACT) determination for construction of new coal-fired boiler at Cliffside power plant (W.D.N.C.), 233:A–23 (12/4/08)
– Nuclear facilities, decommissioning

See NUCLEAR POWER

– Pipeline damage to underground utilities, more organizations than ever submitted reports in 2007 to Common Ground Alliance's database, 238:A–26 (12/11/08)
– Prevention of significant deterioration program, Boxer (D-Cal) asks Atty. Gen. Mukasey to reverse EPA interpretation that could clear way for construction of power plants without controls to limit emissions, 246:A–15 (12/23/08)
– Renewable source electricity

See RENEWABLE ENERGY

– Tex., 2 public interest groups file petition seeking review of decision allowing construction of coal-fired power plant near Waco by TXU Power (U.S., rev sought), 210:A–26 (10/30/08); (rev den), 231:A–22 (12/2/08)
– Transmission grid

– – Expansion necessary, but pool of private capital “contracting,” in light of financial crisis, FERC told, 199:A–15 (10/15/08)
– – Infrastructure siting and cost allocation are 2 chief obstacles to constructing national grid, a system that would directly enhance exploitation of renewable sources of energy, 203:A–9 (10/21/08)

– Utah, EPA must reconsider its refusal to impose limits on carbon dioxide emissions at existing Deseret Power Electric Cooperative plant, Environmental Appeals Bd. rules, 220:A–38 (11/14/08); industry and environmental groups dispute effects of EAB decision, 223:A–22 (11/19/08); carbon dioxide emissions not consideration for permit decisions, EPA Adm'r Johnson says, 244:A–33 (12/19/08); Sierra Club and other groups to challenge EPA on need to control carbon dioxide, 250:A–13 (12/31/08)