Dutch Government Cuts ABN Amro Holding to Below One Third
The move means the state loses the right to prior approval of capital hikes or substantial deals carried out by ABN Amro, according to a statement on Tuesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
17 minutes ago
- Forbes
NFL Great J.J. Watt Enjoys Honeymoon Period As Espanyol Shareholder
Dawn is breaking at Espanyol in Spain's La Liga. Fans of the Parakeets, a team less followed and with more grounded aims than local colossus Barcelona, hope it won't be a false one. Meanwhile, ex-defensive end J.J. Watt has a role to play. Now turning his attention towards being an NFL game analyst this coming season at CBS Sports, dissecting a game he knows inside out, Watt got a first taste of another new role—in soccer—last weekend. The 36-year-old looked on from the stands, fists pumping, as Espanyol fought back to beat Atlético Madrid in the surprise result from the opening matchday. The former Houston Texans player is a shareholder of Velocity Sports Limited (VSL), an investment branch of ALK Capital, which is led by U.S. managing partner Alan Pace. VSL acquired Espanyol from the Rastar Group, controlled by the Chinese businessman Chen Yensheng, for a reported €130 million ($152 million) in July (though Rastar retains some input). VSL also controls Premier League club Burnley. Much optimism surrounds Watt's arrival. El Mundo has gone as far as calling him Espanyol's new idol (Spanish). Much of that is down to the American ingratiating himself after saying a couple of phrases in Catalan, enjoying a beer with supporters outside the stadium, and getting behind the players inside it. Watt says he can't return there until February because of work commitments on Sundays, yet it's already a shift from the previous owners, who were rarely present and oversaw two relegations despite initially eyeing a place in the Champions League. Is The Future Bright For Espanyol? There's a peculiarity with ownership in soccer today. Many, even those who attend every fixture or know their side's history back to front, will understand that a foreign executive arriving on the scene doesn't. But if they stay involved, not least by investing in the squad, that's good enough. Very much the face of VSL in Espanyol right now, Watt has made a good impression. Then again, it's the honeymoon period, and at a club whose main target will still be avoiding demotion to the second division. How Espanyol does under U.S. guidance in the long term is what matters. It's worth noting that while Burnley and Espanyol are part of the same investment group, and therefore could be deemed part of the growing multi-club ownership model, the Spanish entity stressed that each will remain independent. Still, when interests are diversified, does Espanyol become the priority, or is that consolidating Burnley's place in the Premier League? Then, there's a cultural angle; Watt may have donned the blue and white scarf, but VSL is adapting to a different division in a different country, and everything that entails. U.S. Links To Spanish Soccer Are Tightening Of course, U.S. majority ownership in European soccer—Spain in this instance—is nothing new. Notably, top-tier Mallorca has former tennis player Andy Kohlberg at the top, while Leganés—relegated to the Segunda in 2024/25—is led by Blue Crow Sports CEO Jeff Luhnow. All the while, the Spanish soccer federation (RFEF) has approved controversial plans to host a first La Liga game on U.S. soil (Miami) this December. As the games and seasons progress, with Espanyol set on taking more scalps after the fast start against Atlético, it will become clearer whether the Catalans benefit from their end of the deal. At least the initial signs are promising.
CNN
an hour ago
- CNN
UK government walks back controversial Apple ‘back door' demand after Trump administration pressure
UK Digital privacy Tech giants Digital securityFacebookTweetLink Follow The UK government has backed down on a controversial demand for Apple to build a 'back door' into its technology to access private user data following pressure from the Trump administration. The order could have undermined a key security promise Apple makes to its users — the company has said it has not and would never build a backdoor or 'master key' to its products — and compromised privacy for users globally. UK officials had reportedly sought access to encrypted data that users around the world store in iCloud, materials that even the iPhone maker itself is typically unable to access. US Director of National Intelligence Tulsi Gabbard said on X Monday that the United Kingdom 'agreed to drop its mandate for Apple to provide a 'back door' that would have enabled access to the protected encrypted data of American citizens and encroached on our civil liberties.' Gabbard said that over the 'past few months,' she had been 'working closely with our partners in the UK,' alongside President Donald Trump and Vice President JD Vance, on the agreement. A source familiar with the discussions told CNN that Gabbard spoke with her counterpart in the UK, Deputy National Security Advisory Matt Collins, a few times about the issue, including once when the UK delegation visited the White House. Vance was also personally involved in reaching a deal, engaging in direct conversations with British government officials to come to what was considered a 'mutually beneficial' agreement for both countries, a White House official told CNN. No further details on the agreement were provided. The British Home Office reportedly made the order under the Investigatory Powers Act that lets UK law enforcement compel access to communications and metadata from tech companies in secret, although the agency never confirmed the demand. The Home Office did not immediately respond to CNN's request for comment on Tuesday. Reports about the order earlier this year quickly raised alarm among security experts and tech leaders who worried that Apple could be used by a foreign government to spy on its users. The company in February rolled back a data security feature for iCloud called Advanced Data Protection (ADP) for users in the United Kingdom. The feature provides optional end-to-end encryption for personal data such as photos and messages, meaning only the user who holds the account, not even the company itself could view that information. Without end-to-end encryption, Apple could have access to users' data, meaning law enforcement could legally compel the company to hand it over to aid in investigating crimes. Removing the feature for UK users was widely viewed as an effort to protect more advanced security for users elsewhere in the world in the face of the UK government's demand for a technical back door. But it didn't necessarily address the UK's demand for access to user data globally. Apple said in a statement at the time that it was 'gravely disappointed' to no longer offer ADP to UK users, 'given the continuing rise of data breaches and other threats to customer privacy.' Apple did not immediately respond to CNN's request for comment on the UK government's retreat from the demand. Tech executives, including Apple CEO Tim Cook, have sought to foster close relationships with Trump since he took office in hopes of gaining his support on key policy and regulatory issues. The UK agreement marks the latest instance of the Trump administration convincing a foreign government to walk back regulation of an American tech company. In June, Canada said it would rescind a digital services tax — which Trump had called a 'direct and blatant attack' on the United States and its companies — to restart trade negotiations with the US.
New York Times
an hour ago
- New York Times
For Trump, Flashy Summits Come First. Grunt Work Comes Next.
First, President Trump rolled out the red carpet for President Vladimir V. Putin of Russia for a high-stakes summit in Alaska. Then he brought the president of Ukraine and seven other European leaders to the White House for an extraordinary gathering to discuss an end to the war. Now comes the grunt work. Mr. Trump in the past week has effectively flipped the traditional diplomatic process on its head. After two critical meetings in four days aimed at ending the war in Ukraine, American and European diplomats scrambled to come up with detailed proposals for security guarantees and other sticking points that could upend any momentum to secure peace. Already, major gaps were becoming evident, including whether Russia would countenance U.S. security guarantees for Ukraine, and whether Mr. Putin was serious about meeting with Mr. Zelensky face to face. Ironing out the details typically happens between staffers and diplomats before leaders step in to finalize the agreement. But Mr. Trump, ever one to toss out norms and traditions, went big last week in Alaska with Mr. Putin, then again at the White House on Monday, without any breakthroughs to announce. Now, with Russia continuing to hammer Ukraine and no sign that Mr. Trump or Mr. Putin see a cease-fire as a precondition for a deal, the process risks devolving into a diplomatic version of trench warfare. So far, at least, Mr. Putin has a free hand to continue his war against his neighbor without immediate concern for further penalty. 'In a normal American administration you have all kinds of preparation,' said Steven Pifer, a former ambassador to Ukraine under President Bill Clinton. 'This is very unusual.' He added: 'The risk I see is that he doesn't prepare the details. My impression is that he wants a deal. He wants any deal so he can claim, 'I solved another war.' But the details matter.' Want all of The Times? Subscribe.
