Latest news with #Pan-European
IOL News
a day ago
- Business
- IOL News
Greencoat Renewables lists on the JSE's AltX, expanding its investor base
Greencoat Renewables's Paul O'Donnell (left to right), Diarmuid Kelly, Bertrand Gautier. Image: Supplied Greencoat Renewables Plc (GRP), a leading owner and operator of European renewable energy infrastructure assets, officially debuted its secondary listing on the JSE's AltX on Monday. GRP remains listed on the Alternative Investment Market in London and the Euronext Growth Market in Dublin. The listing presents a significant opportunity for the Irish-based company, which has a current market capitalisation of €850 million (R17.2 billion), to diversify its shareholder base, enhance liquidity and position itself to take advantage of growth opportunities over time, it said in a statement. GRP offers South African investors access to a large and diversified Pan-European platform consisting of 40 renewable energy assets across five countries, producing 1.5GW of energy. This high-quality and modern portfolio is underpinned by long-term, European government-backed cashflows. In 2024, GRP generated net cash of €141m of which €74m was paid out to investors as dividends and the remainder reinvested in the business. GRP currently trades at a 9% Euro dividend yield. GRP's Bertrand Gautier, who leads the team as a co-portfolio manager, along with Paul O'Donnell, said, 'We're excited to be listing on South Africa's preeminent bourse, which presents us with access to a deep capital market with sophisticated investors who are familiar with and attracted to GRP's value proposition. The JSE also has an excellent track record of supporting real asset companies and is expected to provide a strong platform for future growth." O'Donnell said, 'The European energy transition will require €1.5 trillion in investment to 2030. When considered in the context of a material increase in demand for green electrons by data centres, which are fuelled by Big Tech and AI, the sector represents a unique and compelling long-term opportunity for investors.' He adds that the company's excellent track record of providing investors with a secure and predictable income, backed by GRP's scale and established Pan-European footprint, as well as the constant value-added asset management focus of the team, supports this view. Diarmuid Kelly, the chief financial officer of GRP, said, 'We remain focused on delivering attractive risk-adjusted returns for shareholders through continued high cash generation and disciplined capital allocation. Our cashflows are proactively managed to provide a combination of security and opportunity which facilitates a progressive dividend that has grown 5.5% on a ZAR CAGR basis since IPO (initial public offering) in 2017. In addition, cash generated over and above that required to service dividends is reinvested into the business to grow the net asset value. Our return profile is thus well aligned with long-term, income-focused investors.' The company is managed by Schroders Greencoat, an experienced and specialised investment manager in the listed renewable energy infrastructure sector with over €16bn in AUM across more than 400 assets globally. Valeo Capital is the South African corporate advisor and Sponsor bringing GRP to market. BUSINESS REPORT Visit:
Time of India
5 days ago
- Business
- Time of India
Shein hit with complaint from EU consumer group over 'dark patterns'
HighlightsThe Pan-European consumers organization European Consumer Organisation (BEUC) has filed a complaint with the European Commission against fast-fashion retailer Shein for employing 'dark patterns' to increase consumer purchases on its app and website. Shein's tactics include aggressive methods such as pop-ups urging customers to stay on the app for promotions, countdown timers creating a sense of urgency, and frequent notifications that can bombard users with up to 12 alerts in one day. The European Commission has already warned Shein about practices that violate EU consumer law and has stated that the company could face fines if it does not rectify these issues. Pan-European consumers organisation BEUC filed a complaint with the European Commission on Thursday against online fast-fashion retailer Shein over its use of "dark patterns", tactics designed to make people buy more on its app and website. Pop-ups urging customers not to leave the app or risk losing promotions, countdown timers that create time pressure to complete a purchase, and the infinite scroll on its app are among the methods Shein uses that could be considered "aggressive commercial practices", BEUC said in a report also published on Thursday. The BEUC also detailed Shein's use of frequent notifications, with one phone receiving 12 notifications from the app in a single day. "For fast fashion you need to have volume, you need to have mass consumption, and these dark patterns are designed to stimulate mass consumption," Agustin Reyna, director general of BEUC, said in an interview. "For us, to be satisfactory they need to get rid of these dark patterns, but the question is whether they will have enough incentive to do so, knowing the potential impact it can have on the volume of purchases." In a statement, Shein said: "We are already working constructively with national consumers authorities and the EU Commission to demonstrate our commitment to complying with EU laws and regulations." It added that the BEUC had not accepted its request for a meeting. Shein and rival online discount platform Temu have surged in popularity in Europe, partly helped by apps that encourage shoppers to engage with games and stand to win discounts and free products. The BEUC has also previously targeted Temu in a complaint. Shein's use of gamification, drawing shoppers to use the app regularly, has helped drive its success. In the "Puppy Keep" game on the app, users feed a virtual dog and collect points to win free items. They can gain more points by scrolling through the app, and by ordering items, but must log into the game every day or risk losing cumulative rewards. The BEUC noted that dark patterns are widely used by mass-market clothing retailers and called on the consumer protection network to include other retailers in its investigation. It said 25 of its member organisations in 21 countries, including France, Germany and Spain, joined in the grievance filed with the Commission and with the European consumer protection network. Late last month, the European Commission notified Shein of practices breaching EU consumer law and warned it would face fines if it failed to address the concerns. The company is also under scrutiny from EU tech regulators on how it complies with EU online content rules.
Business of Fashion
5 days ago
- Business
- Business of Fashion
Shein Hit With Complaint From EU Consumer Group Over ‘Dark Patterns'
Pan-European consumers organisation BEUC filed a complaint with the European Commission on Thursday against online fast-fashion retailer Shein over its use of 'dark patterns', tactics designed to make people buy more on its app and website. Pop-ups urging customers not to leave the app or risk losing promotions, countdown timers that create time pressure to complete a purchase, and the infinite scroll on its app are among the methods Shein uses that could be considered 'aggressive commercial practices', BEUC said in a report also published on Thursday. The BEUC also detailed Shein's use of frequent notifications, with one phone receiving 12 notifications from the app in a single day. 'For fast fashion you need to have volume, you need to have mass consumption, and these dark patterns are designed to stimulate mass consumption,' Agustin Reyna, director general of BEUC, said in an interview. 'For us, to be satisfactory they need to get rid of these dark patterns, but the question is whether they will have enough incentive to do so, knowing the potential impact it can have on the volume of purchases.' In a statement, Shein said: 'We are already working constructively with national consumers authorities and the EU Commission to demonstrate our commitment to complying with EU laws and regulations.' It added that the BEUC had not accepted its request for a meeting. Shein and rival online discount platform Temu have surged in popularity in Europe, partly helped by apps that encourage shoppers to engage with games and stand to win discounts and free products. The BEUC has also previously targeted Temu in a complaint. Shein's use of gamification, drawing shoppers to use the app regularly, has helped drive its success. In the 'Puppy Keep' game on the app, users feed a virtual dog and collect points to win free items. They can gain more points by scrolling through the app, and by ordering items, but must log into the game every day or risk losing cumulative rewards. The BEUC noted that dark patterns are widely used by mass-market clothing retailers and called on the consumer protection network to include other retailers in its investigation. It said 25 of its member organisations in 21 countries, including France, Germany and Spain, joined in the grievance filed with the Commission and with the European consumer protection network. Late last month, the European Commission notified Shein of practices breaching EU consumer law and warned it would face fines if it failed to address the concerns. The company is also under scrutiny from EU tech regulators on how it complies with EU online content rules. By Helen Reid, Inti Landauro; Editor: Mark Heinrich Learn more: Shein to Increase Product Safety Testing After EU Probe After the EU warned of potential fines due to concerns about unsafe products, Shein announced plans to increase its product safety testing and compliance spending in 2025.
&w=3840&q=100)
First Post
5 days ago
- Business
- First Post
'Dark Patterns': Shein taken to court by consumers org for tactics for bumping sales
Pop-ups telling customers they risk losing promotions if they leave the app, countdown timers that create time pressure to finish a purchase, and infinite scroll on its app are some methods Shein uses that could be considered 'aggressive commercial practices' read more A Pan-European consumers organisation is taking Shein to court for its use of "dark patterns". Image courtesy: Reuters Pan-European consumers organisation BEUC filed a complaint with the European Commission on Thursday against online fast-fashion retailer Shein over its use of 'dark patterns', tactics designed to make people buy more on its app and website. Pop-ups urging customers not to leave the app or risk losing promotions, countdown timers that create time pressure to complete a purchase, and the infinite scroll on its app are among the methods Shein uses that could be considered 'aggressive commercial practices', BEUC said in a report also published on Thursday. STORY CONTINUES BELOW THIS AD The BEUC also detailed Shein's use of frequent notifications, with one phone receiving 12 notifications from the app in a single day. 'For fast fashion you need to have volume, you need to have mass consumption, and these dark patterns are designed to stimulate mass consumption,' Agustin Reyna, director general of BEUC, said in an interview. 'For us, to be satisfactory they need to get rid of these dark patterns, but the question is whether they will have enough incentive to do so, knowing the potential impact it can have on the volume of purchases.' In a statement, Shein said: 'We are already working constructively with national consumers authorities and the EU Commission to demonstrate our commitment to complying with EU laws and regulations.' It added that the BEUC had not accepted its request for a meeting. Shein and rival online discount platform Temu have surged in popularity in Europe, partly helped by apps that encourage shoppers to engage with games and stand to win discounts and free products. The BEUC has also previously targeted Temu in a complaint. Shein's use of gamification, drawing shoppers to use the app regularly, has helped drive its success. In the 'Puppy Keep' game on the app, users feed a virtual dog and collect points to win free items. They can gain more points by scrolling through the app, and by ordering items, but must log into the game every day or risk losing cumulative rewards. STORY CONTINUES BELOW THIS AD The BEUC noted that dark patterns are widely used by mass-market clothing retailers and called on the consumer protection network to include other retailers in its investigation. It said 25 of its member organisations in 21 countries, including France, Germany and Spain, joined in the grievance filed with the Commission and with the European consumer protection network. Late last month, the European Commission notified Shein of practices breaching EU consumer law and warned it would face fines if it failed to address the concerns. The company is also under scrutiny from EU tech regulators on how it complies with EU online content rules.
Time of India
5 days ago
- Business
- Time of India
Shein hit with complaint from EU consumer group over 'dark patterns'
Pan-European consumers organisation BEUC filed a complaint with the European Commission on Thursday against online fast-fashion retailer Shein over its use of "dark patterns", tactics designed to make people buy more on its app and website. Pop-ups urging customers not to leave the app or risk losing promotions, countdown timers that create time pressure to complete a purchase, and the infinite scroll on its app are among the methods Shein uses that could be considered "aggressive commercial practices", BEUC said in a report also published on Thursday. The BEUC also detailed Shein's use of frequent notifications, with one phone receiving 12 notifications from the app in a single day. "For fast fashion you need to have volume, you need to have mass consumption, and these dark patterns are designed to stimulate mass consumption," Agustin Reyna, director general of BEUC, said in an interview. "For us, to be satisfactory they need to get rid of these dark patterns, but the question is whether they will have enough incentive to do so, knowing the potential impact it can have on the volume of purchases." In a statement, Shein said: "We are already working constructively with national consumers authorities and the EU Commission to demonstrate our commitment to complying with EU laws and regulations." It added that the BEUC had not accepted its request for a meeting. Shein and rival online discount platform Temu have surged in popularity in Europe, partly helped by apps that encourage shoppers to engage with games and stand to win discounts and free products. The BEUC has also previously targeted Temu in a complaint. Shein's use of gamification, drawing shoppers to use the app regularly, has helped drive its success. In the "Puppy Keep" game on the app, users feed a virtual dog and collect points to win free items. They can gain more points by scrolling through the app, and by ordering items, but must log into the game every day or risk losing cumulative rewards. The BEUC noted that dark patterns are widely used by mass-market clothing retailers and called on the consumer protection network to include other retailers in its investigation. It said 25 of its member organisations in 21 countries, including France, Germany and Spain, joined in the grievance filed with the Commission and with the European consumer protection network. Late last month, the European Commission notified Shein of practices breaching EU consumer law and warned it would face fines if it failed to address the concerns. The company is also under scrutiny from EU tech regulators on how it complies with EU online content rules.
