ING to Cut 230 Jobs Saying It Has ‘Too Many' Managing Directors
The Dutch lender plans to eliminate 230 roles across its wholesale banking division, according to a statement on Monday. The cuts 'will be focused on Directors and Managing Directors in commercial, front office roles' as the lender has 'too many senior roles,' it said.
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Yahoo
a minute ago
- Yahoo
Elliott Statement on Sumitomo Realty & Development Co., Ltd.
LONDON, Aug. 12, 2025 /PRNewswire/ -- Elliott Investment Management, L.P. and Elliott Advisors (UK) Limited ("Elliott"), which advise funds that together have a more than 3% ownership stake in Sumitomo Realty & Development Co., Ltd. ("Sumitomo Realty" or the "Company"), making Elliott one of the Company's largest shareholders, note last week's announcement from the Company. We believe the Company's "Policy on Utilizing Fixed Assets and Leveraging Strategic Shareholdings" lacks both ambition and urgency. This policy falls short in achieving capital efficiency, enhancing shareholder returns and reducing cross shareholdings. As a result, the Company's valuation continues to suffer. The Company's asset sale target of ¥200 billion represents just a small fraction of Sumitomo Realty's total leasing portfolio and may not be completed until the 2030s. Similarly, the Company's 10-year timeframe to divest ¥400 billion of its portfolio of strategic shareholdings is far too long. Cross shareholdings remain an immediate concern and, in our view, are a key reason for the Company's low shareholder approval at this year's AGM. Sumitomo Realty must expand its ambitions and accelerate the implementation of its envisioned policy. This would unlock capital for higher-return growth projects and increased shareholder returns, helping to address the Company's persistent undervaluation. We will continue to work constructively with Sumitomo Realty's management team and engage with other shareholders to address these issues and raise the Company's corporate value. About ElliottElliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $72.7 billion in assets as of December 31, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P. Media Contacts: LondonAlice BestElliott Advisors (UK) LimitedT: +44 203 009 1715abest@ TokyoBrett WallbuttonAshton ConsultingT: +81 (0) 3 View original content: SOURCE Elliott Investment Management L.P. 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
Forbes
33 minutes ago
- Forbes
Italy Hopes Growing Chinese Passion For Winter Sports Leads To Olympic Business Gold
When it comes to ancient culture, few countries rank with Italy and China in influence and depth. Italy has the most UNESCO World Heritage sites – 61, followed closely by China with 60. In the here and now, the two cultural superpowers are finding a new common interest: winter sports. Italy has longer-standing success when it comes to ski visits. Last year, it had 32 million, ranking No. 4 in the world. Interest and investment in skiing in China has taken off since the country hosted the 2022 Winter Olympics, however, turning it into one of the fastest-growing ski markets in the world. From May 2023 to April 2024, the number of skier visits at domestic ski resorts was 23 million, a year-on-year increase of 16% and more than double that of decade ago, according to the China Ski Industry White Book. The number of ski resorts open to the public in 2023-2024 rose by 22 from a year earlier to 719, the report said. With Italy poised to host the 2026 Winter Olympics in Milano Cortina on Feb. 6-22, businesses from the southern European country are looking to seize upon growing Chinese interest in winter sports to promote commerce related to tourism, skiing and travel at home, said Lorenzo Riccardi, chairman of the China-Italy Chamber of Commerce in a recent Zoom interview. The Beijing-headquartered business group has about 800 members. 'We know that China really focused on the Olympics in terms of communications, brands and company exposure' in 2022, Riccardi said. 'We believe it is a very important opportunity.' The push comes at a time when changes in global trade are leading countries to look for new partners and common bonds. New U.S. tariffs of 15% on most imports from Europe are 'significantly' impacting the Italian economy and 'Made in Italy' exports to the U.S., Riccardi said. 'The Italian government is looking to new markets and emerging regions,' mainly in the Far East, to offset the blow, he said. The disruption to Italian companies already invested in China is less than it might be for newcomers because they have already adjusted supply chains and flows of goods in recent years, Riccardi said. Italian investment in China is increasingly for China or regional Asian markets – not aimed at shipments to the U.S., he said. Italian businesses benefit from the locally well-received centuries-old travels of businessman Marco Polo along the Silk Road, and more recent ties between the European Union and China, which this year marked 50 years of diplomatic relations. Two-way trade between Italy and the EU was $36 billion in the first half of 2025 – little changed year-on-year; the EU is China's largest trading partner after the ASEAN block. High-profile visits by Italian government leaders have also helped. Italy's Deputy Premier and Transport Minister Matteo Salvini visited China in July to give a boost to businesses ranging from machinery makers to fashion brands; he also highlighted the convenience of domestic travel within Italy on the country's high-speed rail system, and complemented China on its advances. 'China is an innovation giant that cannot be ignored,' Salvini reportedly said. Italy Prime Minister Giorgia Meloni traveled to Beijing last year and reached an agreement on a three-year action plan. China's interest in winter sports took off after the government embraced the industry ahead of the 2022 Winter Olympics. Chinese athletes rose to the moment, winning a record 15 Winter Olympics medals including nine gold (Italy had 17), attracting a large social media audience and new skiers and snowboarders to the slopes. 'If the (Beijing) Olympic Games in 2008 were relevant, the Winter Olympics (in 2022) were even more interesting in generating new trends in terms of the Chinese market and the experience of Chinese consumers,' Riccardi said. This year, 'luxury and fashion brands traditionally not into sports or the mountain economy are now focusing on this segment as a new niche market,' he said, including Prada and Georgio Armani. Italian companies know from home how winter sports such as skiing can help regional economies and business due to the popularity of those activities in the Italian Alps and earlier Olympic experience. The country first hosted the Winter Olympics in the ski town of Cortina d'Ampezzo (abbreviated as Cortina) in 1956; Italy then hosted the Summer Olympics in Rome in 1960, and the Winter Olympics again in Turin in 2006. Businesses have 'excellent' experience in sports, tourism, hospitality and lifestyle pursuits, Riccardi said. One Italian company, TechnoAlpin, had a notable presence at the 2022 games in China as a supplier of the artificial snow. 'We believe it is an opportunity to attract Chinese tourists, consumers and travelers, and an opportunity to promote cooperation between Italian and Chinese companies,' he said. The China-Italy Chamber itself will focus on the Olympics, winter sports and culture at its annual gathering in Beijing, 'Notte Italiana,' in November. Chinese corporate sponsors to the 2026 games include Alibaba, Mengniu and TCL. To be sure, business is China remains challenging for Italian and other foreign firms. 'Competition with local and international companies in the Chinese market is the No. 1 challenge for Italian investments into China,' Riccardi said. Geopolitical instability, changing global tariffs, new trends in economic relations with other major economies, rising operational costs and supply chain disruptions 'are considered the major challenges for Italian companies in China' by Chamber members, Riccardi said. And yet the opportunities remain at a time when China's GDP growth of 5% is among the world's best. Based on a member survey in July, Riccardi said Italian companies – as a group the second largest manufacturers in Europe -- see industrial innovation as an opportunity to show 'Made in Italy' technology. 'The rising demands of the Chinese middle class can create opportunities for Italian quality products and foreign brands looking to this giant market that is China,' he said. Partnership with Chinese groups is considered an avenue for expansion into the market by Italian firms, Riccardi continued. 'Italian companies consider that it is necessary to have a long-term and stable presence in the market' that often involves one or more local partners, he said. Italians in Shanghai first formed a chamber-like organization to advance local exchanges in 1903, Riccardi noted. 'Not only Marco Polo is a symbol,' said Riccardi. 'We have had our business community long present.' Cultural heritage between the two ancient cultures 'is very relevant for companies' even today, he said.
Yahoo
an hour ago
- Yahoo
Here's How You Can Earn $100 In Passive Income By Investing In W. P. Carey Stock
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. W. P. Carey Inc. (NYSE:WPC) is a real estate investment trust that acquires and owns single-tenant, net lease properties primarily in the industrial, warehouse, and retail sectors in the U.S. and Europe. It will report its Q3 2025 earnings on Oct. 28. Wall Street analysts expect the company to post EPS of $1.24, up from $1.18 in the prior-year period. According to data from Benzinga Pro, quarterly revenue is expected to be $413.20 million, up from $394.77 million a year earlier. The 52-week range of W. P. Carey stock price was $52.91 to $66.64. W. P. Carey's dividend yield is 5.47%. It paid $3.60 per share in dividends during the last 12 months. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. The Latest On W. P. Carey The company on July 29 announced its Q2 2025 earnings, posting FFO of $1.28, compared to the consensus estimate of $1.23, and revenues of $428.40 million, compared to the consensus of $408.69 million, as reported by Benzinga. 'As we pass the midpoint of the year, we've built considerable momentum across our business, driven by strong investment activity and disciplined execution of our disposition strategy — enabling us to reinvest proceeds at attractive spreads,' said CEO Jason Fox. 'As a result, we've raised our outlook for investment volume and increased our AFFO guidance to a range of $4.87 to $4.95 per share, representing 4.5% year-over-year growth at the midpoint." Check out this article by Benzinga for four analysts' insights on W. P. Carey. Trending: If there was a new fund backed by Jeff Bezos offering a ? How Can You Earn $100 Per Month As A W. P. Carey Investor? If you want to make $100 per month — $1,200 annually — from W. P. Carey dividends, your investment value needs to be approximately $21,938, which is around 334 shares at $65.78 each. Understanding the dividend yield calculations: When making an estimate, you need two key variables — the desired annual income ($1,200) and the dividend yield (5.47% in this case). So, $1,200 / 0.0547 = $21,938 to generate an income of $100 per month. You can calculate the dividend yield by dividing the annual dividend payments by the current price of the dividend yield can change over time. This is the outcome of fluctuating stock prices and dividend payments on a rolling basis. For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40). In summary, income-focused investors may find W. P. Carey stock an attractive option for making a steady income of $100 per month by owning 334 shares of stock. Read Next: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's , starting today. Image: Shutterstock This article Here's How You Can Earn $100 In Passive Income By Investing In W. P. Carey Stock originally appeared on
