The energy company Engie Electrabel is about to create one of the largest investment funds in Belgium. The operator of the Belgian nuclear power plants will transfer € 4.3 billion from the Luxembourg Nuclear Investment Fund to Brussels. The capital is transferred to the Belgian Nuclear Liabilities Fund (BNLF), which can become the largest investment fund in the country. By the beginning of 2022...
Six directors of the shaky Chinese real estate developer Evergrande have paid out the company’s investment products while they were not allowed to do so, Evergrande announced. The company demands that the six pay back the money. In addition, the real estate developer wants to impose to the six “firm fines”. The six senior managers had invested money in their own investment...
Pomerantz Law Firm started a class action lawsuit against Philips on behalf of investors who bought shares in the company between 25 February 2020 and 11 June 2021. This was announced on Wednesday evening. Pomerantz wants investors to be compensated for the” significantly incorrect and misleading ” statements made by Philips regarding the recall of ventilators in the United States...
Beijing wants to split Alipay’s lending activities into a separate app. Ant Group, which owns payment app Alipay, will transfer the user data on the basis of which credit is provided to a new joint venture that assesses the creditworthiness and which will be partly owned by the Chinese state. Other online lenders in China are also affected by the measures. Last year, the IPO of ANT Group...
Royal Dutch Shell is looking into the possibilities of obliging its employees to vaccinate themselves against corona, and those who refuse will be fired. This is reflected in an internal document of the energy giant dated 1 September, which was reviewed by the Financial Times. Initially, it would cover personnel in offshore and other remote locations and at a later stage also personnel elsewhere...
SoftBank has entered into a strategic agreement with Deutsche Telekom, which includes an exchange of shares. This was announced by the Japanese investor on Tuesday. The agreement gives companies in SoftBank’s portfolio access to approximately 240 million customers of Deutsche Telekom in Europe and the United States. For Deutsche Telekom, this means a higher turnover per user and a new...
Corona lockdowns in Vietnam are negative for Heineken, but the outlook for the Amsterdam Brewer remains favorable. This is what analysts from Credit Suisse write Wednesday. In 2019, the Asian country accounted for about 12 percent of Heineken’s profits. And the measures against the coronavirus in Vietnam therefore put a brake on the stock, according to Credit Suisse, which is also counting...
The city of New York has decided to make the current regulations on meal delivery permanent, including rules on a maximum commission. This may mean end of practice for Just Eat Takeaway.com in New York. The commission is limited to a maximum of 15%. For platforms that do not deliver themselves, the ceiling is 5 percent of the order. The consumer may be treated separately, but restaurants may not...
The Advertising Code Committee (RCC), the body that assesses whether an advertisement complies with the Dutch Advertising Code, finds an advertisement by oil and gas company Shell misleading, she writes on Friday. This means that Shell has to stop the commercials. The complaint against Shell was lodged by a group of law students from the VU University Amsterdam (VU). Shell promises in the...
Mitsubishi Electric (OTCPK:Mely -0.4%) acquires UK-based Smarter Grid Solutions, a provider of distributed energy (DER) management software for utilities and DER operators. The company said the acquisition will strengthen its DER-management solutions. “SGS Limited offer innovative solutions to companies across Europe and North America, have been helping with the install, manage, and...