ABN Amro Unit Gets Fined for Paying Finfluencers to Lure Clients
ABN Amro Bank NV -owned online broker Bux BV was fined €1.6 million ($1.7 million) for paying finfluencers, comparison websites and existing customers a fee to refer potential new clients.
BUX engaged finfluencers — influencers who give financial recommendations on social media — and paid them a fee per follower who had taken steps in the registration process for opening an investment account, Dutch financial markets regulator AFM said on Wednesday.
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The Hill
24 minutes ago
- The Hill
US, Chinese trade negotiators meeting in London
Top U.S. and Chinese officials are meeting in London on Monday to try to fortify the countries' temporary trade truce, which is currently on track to expire in August. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. trade representative Jamieson Greer are in the U.K. for the talks with Chinese Vice President He Lifeng. It's unclear how long negotiations could last, but Chinese officials have predicted they could extend several days. 'The two sides need to make good use of the economic and trade consultation mechanism already in place, and seek win-win results in the spirit of equality and respect for each other's concerns,' Chinese Foreign Ministry spokesman Lin Jian wrote in a post on X ahead of the meeting. 'The Chinese side is sincere about this, and at the same time has its principles.' President Trump confirmed plans for the London confab last week after a phone call with Chinese President Xi Jinping, who the president has described as 'extremely hard to make a deal with.' 'The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries,' Trump wrote in a social media post Thursday. The two sides have been attempting to hash out a long-term trade agreement following Trump's announcement of sweeping tariff hikes on most countries in April. The Trump administration urged countries last week to come forward with deals more favorable to U.S. interests. U.S. and Chinese leaders brokered their temporary pause in the tariff hikes after meeting in Geneva last month. Under that arrangement, the U.S. lowered its tariff rate on Chinese goods from 145 percent to 30 percent, and China agreed to lower its tariff to 10 percent from 125 percent for 90 days. China's exports to the U.S. were down 35 percent in May compared to last year, according to the latest analysis from Dutch multinational banking and financial services firm ING Group, adding pressure ahead of the latest round of meetings between the two countries. 'Exports to the U.S. surprisingly decelerated despite the trade war reprieve,' ING's analysts wrote. 'We expect that export growth to the US could recover in the coming months.' 'We could see import front-loading amid the still elevated risk that tariffs could once again move higher in light the uncertainty about trade talks over the past month,' the firm added.
Yahoo
2 hours ago
- Yahoo
Pattern Energy Announces Closing of Equity Investment from Consortium Headed by APG and ART
Consortium including APG Asset Management and Australian Retirement Trust, establish ownership position alongside Canada Pension Plan Investment Board SAN FRANCISCO, June 09, 2025--(BUSINESS WIRE)--Pattern Energy Group LP (Pattern Energy), a leader in renewable energy and transmission infrastructure, today announced that a consortium headed by APG Asset Management N.V. (APG), on behalf of the largest Dutch pension fund, ABP, and Australian Retirement Trust (ART) closed on Riverstone Holdings LLC's (Riverstone) equity stake in the company. The previously announced investment has received all required approvals, and the consortium is now an owner in Pattern Energy alongside Canada Pension Plan Investment Board (CPP Investments) and Pattern management. Financial details were not disclosed. "Pattern is significantly strengthened by APG's and ART's financial backing and their supplemental growth capital, further positioning the company to meet critical and rapidly growing energy demand across North America," said Hunter Armistead, CEO at Pattern Energy. "Our new partners value Pattern's commitment to building reliable energy infrastructure while creating jobs and investing in rural communities as we advance our vision to Power the Future." "This investment in Pattern supports our client's ambition to realize attractive, stable returns while making progress toward cleaner, more resilient energy infrastructure," said Steven Hason, Head of Americas Real Assets at APG Asset Management US Inc. "Partnering with Pattern and our new stakeholders reinforces our strategy to deliver long-term value while making a real difference day after day." "Our partnership with Pattern demonstrates our efforts to advance renewable energy infrastructure," said Michael Weaver, General Manager, Mid Risk Assets & UK at ART. "This investment strengthens our expanding sustainable energy portfolio, aligning with our responsibility as a leading global investor. We are confident it will deliver lasting value for our 2.4 million members while supporting our Net Zero 2050 Roadmap." "As one of the founding equity partners in Pattern, we take pride in fostering the tremendous growth and innovation at the company over the past 16 years, and we are confident that Pattern is well-positioned for continued success," said Yakov Tsveig, Principal of Riverstone. Founded in 2009 by Riverstone, its affiliates, and current and former members of the Pattern management team, Pattern Energy has become one of the world's largest privately-owned developers and operators of some of the most sophisticated clean energy and transmission projects in North America. Evercore Group L.L.C. served as exclusive financial advisor and Vinson & Elkins served as legal counsel to Riverstone in connection with this transaction. Sidley Austin LLP served as legal counsel to the buyer consortium. About Pattern Energy Pattern Energy is one of the world's largest privately-owned developers and operators of major clean energy and transmission infrastructure. With more than 30 facilities across North America, Pattern's operations use proven, best-in-class technology to deliver affordable, reliable power to millions of customers. Its nearly 10,000 MW operating and under construction portfolio is meeting critical energy needs and growing demand. Pattern Energy is guided by a long-term commitment to serve customers, strengthen communities and responsibly Power the Future. For more information, visit About APG As the largest pension services provider in the Netherlands APG looks after the pensions of 4.6 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €616 billion (December 2024) in pension assets. With approximately 4,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, and Singapore. About ART Australian Retirement Trust is one of Australia's largest super funds. Close to 2.4 million Australians trust us to take care of over AUD 300 billion of their retirement savings. We're here to help our members retire well with confidence, focused on strong long-term investment returns, lower fees and the information and access to advice our members need to manage their super and retirement. Australian Retirement Trust was formed through the merger of QSuper and Sunsuper in February 2022. View source version on Contacts Matt DallasPattern Jennifer BainbridgeAPG Asset Management US Joseph OgilvieART Media Relations Lead0429 275 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Nvidia announces collaborations to enhance UK's AI capabilities
Chipmaker Nvidia has announced several partnerships in the UK to enhance AI capabilities, coinciding with the start of London Tech Week on 9 June, The Times reported. Known for its AI chip production, the company plans to collaborate with the UK government to help businesses leverage AI, aiming to train 100,000 people by 2030. The announcement includes a partnership with the city regulator to enable firms to experiment safely with AI, fostering innovation. Additionally, the $3.5trn multinational company also teamed up with Barclays and Microsoft to establish workspaces in London for 150 technology businesses. Nvidia's vice-president for Europe, the Middle East, and Africa David Hogan said that the agreement holds no "direct monetary value." Nvidia CEO Jensen Huang is a key figure at London Tech Week and will also attend the Nvidia developer conference in Paris, midweek. In May 2025, Nvidia announced plans to introduce a new AI chipset tailored for the Chinese market, with mass production expected to commence as early as June. The publication also reported that Nebius Group, a Dutch cloud infrastructure provider for the AI industry, is expected to make an investment announcement of £200m. This includes purchasing 4,000 Nvidia chips to establish an AI data centre near London. The investment is anticipated to increase with growing demand for services, including from the public sector. Other announcements on Monday include Multiverse's commitment to train 15,000 AI apprentices over the next two years. Hogan cautioned that France is gaining an advantage over the UK due to its efforts to support the AI start-up ecosystem through measures like tax breaks. France also benefits from its large-scale nuclear power, which can supply the energy needed for data centres. Additionally, France hosts Mistral, Europe's counterpart to OpenAI. "Nvidia announces collaborations to enhance UK's AI capabilities" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
