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EU promotes innovation to boost economic growth
Innovation is vital for growth, economic re-balancing and recovery,[link widoczny dla zalogowanych], Maire Geoghegan-Quinn,[link widoczny dla zalogowanych], European Commissioner for Research, Innovation and Science,[link widoczny dla zalogowanych], said on Monday in London.
Three days after the European Council summit gathered European Union (EU) leaders to discuss innovation and energy issues,[link widoczny dla zalogowanych], Geoghegan-Quinn paid a visit to the British Science Royal Society to promote the economic and social benefits of innovation."Innovation is vital for growth,[link widoczny dla zalogowanych]," she said in a statement released on the EU website. According to the commissioner,[link widoczny dla zalogowanych], innovation is one of the keys to rebalancing EU economies and ensuring long-term economic recovery.
The commissioner encouraged member states to maintain investment in research and development (R&D) and innovation, as reaching the EU target of investing 3 percent of gross domestic product (GDP) in R&D could create around 4 million jobs and increase annual GDP by 700 billion euros (954 billion U.S. dollars) by 2025.Geoghegan-Quinn underlined the need to harmonize innovation and research funding through the adoption of the Common Strategic Framework that could bring together many EU funding instruments.
"European Research funding is currently spread across too many small programs and different instruments, sometimes with insufficient scale and scope to make real breakthroughs in a visible way," she said.The European Commission is expected to present its Green Paper on future EU funding for research and innovation on Wednesday, with proposals to cut red tape for scientists and facilitate funding to be discussed, among others.
The commissioner also called on member states to work on completing the European Research Area by 2014, with the view to enhancing cross border cooperation in research and innovation.She also highlighted the importance of launching European Innovation Partnerships,[link widoczny dla zalogowanych],[link widoczny dla zalogowanych], such as the already agreed pilot partnership on active and healthy ageing, which aims to increase the average healthy lifespan in Europe by two years by 2020.
By bringing together the main stakeholders in a particular field, innovation partnerships are expected to help speed up the development and deployment of the technologies needed to meet the challenges the EU is facing."I am convinced that science,[link widoczny dla zalogowanych], research and innovation have a bright future in Europe," she said. "I am convinced that they will do much for Europe."
U.S. Treasury to sell bank warrants
The U.S. Treasury Department announced Monday that it has planned to auction warrants it holds for Wintrust Financial Corporation.Treasury said the sale of 1,643,295 warrants to purchase the common stock of the company would take place on Tuesday. The offering was expected to price through a modified Dutch auction. Deutsche Bank Securities Inc. is the sole book-running manager for this offering.
During the auction period,[link widoczny dla zalogowanych], potential bidders for the warrants will be able to place bids at any price.The sale is the latest effort by the U.S. government to recoup the costs of the 700 billion dollars financial bailout. In the past two weeks,[link widoczny dla zalogowanych], the government has received 312.2 million U.S. dollars from the sale of warrants it held in Citigroup and 6.2 million U.S. dollars from the sale of warrants in Boston Private Financial Holdings.
Combining sneaker classics has been a common habit of Jordan Brand in recent years,[link widoczny dla zalogowanych], and the CMFT series is another example of that work. For the Air Jordan CMFT Air Max 12, Jordan Brand combined the sole of the Nike Air Max 97 with a low-cut version of the Air Jordan 12 (XII). They are available in multiple colors,[link widoczny dla zalogowanych], and like the recently released Jordan CMFT Max 11, have been receiving a favorable response.