European Press Roundup: Volkswagen Fine to Be Invested in Climate-Friendly Transport, Booking.com Rushes to Meet Spanish Laws
July 22 2019 - 7:57AM
Dow Jones News
In Europe today, Dutch technology company Philips's
second-quarter net profit beat analyst expectations, while bank
Julius Baer's net profit for the first six months fell. Read about
the above topics on Dow Jones Newswires or WSJ.com.
In Other Media...
Volkswagen's home state, Lower Saxony, plans to invest large
amounts of the car maker's EUR1 billion diesel-emissions fine into
fast internet, hospitals and universities, as well as debt
reduction, and the renovation of sports facilities and
climate-friendly transport. -Frankfurter Allgemeine Zeitung
Booking.com is rushing to get listers of tourist flats on their
platform to provide their data in order to meet Spanish laws and
avoid a fine of up to EUR600,000. Since January 31, Spanish law
requires platforms such as Booking and Airbnb to disclose the
information of the person listing their property on their website,
in a bid to fight tax fraud in tourist apartment rentals. -Cinco
Dias
Ubi Banca has sold around EUR900 million of factoring and
leasing bad loans. The sale will have an impact of about EUR104
million in the second-quarter results, which the bank will report
under impairment losses on loans, the Italian bank said Monday. -La
Repubblica
German banks are considering merging their digital-payment
services to better compete against rival offers from tech companies
such as Google Pay and Apple Pay. -Handelsblatt
Cork-based financial firm BlackBee Group announced details of a
EUR250 million health-care investment fund aimed at creating 1,000
nursing home beds and acquiring a further 750 existing beds. The
investment will see the construction of 1,000 new state-of-the-art
single ensuite beds at ten sites around Munster that have already
been identified by the group, with construction to start in early
2020
Whirlpool will recall today about 500,000 tumble dryers at risk
of bursting into flames in the U.K., four years after concerns
first emerged. -Guardian
The Netherlands' BrandLoyalty is being put up for sale,
according to financial sources. Its owner, Alliance Data, is under
pressure to slim down its portfolio from activist shareholder
ValueAct. BrandLoyalty creates loyalty programs for food retailers
and has over 700 employees in 25 countries. -Financieele
Dagblad
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(END) Dow Jones Newswires
July 22, 2019 07:42 ET (11:42 GMT)
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