Bank of Italy selects 4 systemic risk countries for lenders, including Russia
The Bank of Italy used end-2024 data to measure banks' exposure to those countries in relation to their overall exposure.
Top Italian lenders Intesa Sanpaolo and UniCredit are both present in Russia, the former serving only corporate clients while the latter owns a retail bank.
UniCredit said in an update of the investor document relating to its takeover bid for Banco BPM that its Russian unit had increased its holdings of local government bonds in the first quarter to 754 million euros ($888.06 million) from 574 million in December.
($1 = 0.8490 euros)
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Yahoo
38 minutes ago
- Yahoo
3 Ways Retirees Can Save Money at Olive Garden
When it comes to dining, baby boomers, those born between 1946 and 1964, tend to prefer popular brands such as Cracker Barrel, The Cheesecake Factory, Panera Bread and Outback Steakhouse. However, according to the YouGov brand index, one restaurant stands above all the others: Olive Garden. Check Out: Read Next: While Olive Garden typically serves up meals at a good price, there are also ways to get a better value next time you visit. Here are three ways retirees can save money the next time they head to Olive Garden. If you frequent Olive Garden, consider joining the Olive Garden eClub. Members receive deals, promotions and offers sent to their email. By signing up, you'll get free appetizers with the purchase of an entree, delivery discounts and 'buy one entree, get one free' deals, depending on availability. You'll also get a free dessert or discount coupon if you show up on your birthday. Joining the Olive Garden eClub is free and only takes a few minutes. Head to the eClub sign-up page and fill in the details for some easy savings the next time you visit. Find Out: As an Italian-American restaurant, Olive Garden has an extensive wine list. When you see the menu, you can scan through a variety of reds, whites and rosés to find the best match for your entree. If you're unsure of what to get, Olive Garden offers wine samples that you can try first. This can save you a bit of money and keep your palate happy. Depending on the location, you may be able to bring your own bottle of wine. If you already have a bottle at home or prefer to bring something less expensive than those listed on the menu, it can save you some extra cash. Remember, this isn't a universal policy, so it's best to call ahead and see if it's allowed in the location near you and you may need to pay a $7 fee. Olive Garden often comes out with limited-time offers that can help you save big — if you're paying attention. Remember, these deals come and go and aren't available at every location, so it's best to check with your nearest location before you firm up your plans. Recently, the restaurant chain brought back a fan favorite after a five-year hiatus: the Buy One, Take One deal. For this deal, if you buy a qualifying dine-in entree, you'll get to select a second dish to take home with you and have at your convenience. Another popular menu item was the Never Ending Pasta Bowl. For this deal, you'd choose from a variety of pasta combinations and eat to your heart's content. You can even add endless protein toppings for a few extra bucks. The Never Ending Pasta Bowl is an excellent way to get your money's worth when it's available. A third savings option is Early Dinner Duos, where anyone who is willing to eat before the dinner rush pays less. This deal takes place Monday through Thursday between 3 p.m. and 5 p.m. and can be an excellent option to get a quiet meal for a low price. More From GOBankingRates 5 Cities You Need To Consider If You're Retiring in 2025 This article originally appeared on 3 Ways Retirees Can Save Money at Olive Garden
Fox News
an hour ago
- Fox News
Volkswagen's iconic cute van drives itself with 360-degree vision
You gotta give it to VW for nailing it with their adorable design that modernizes an icon. I'm still wondering about taking a ride without any driver behind the wheel of its latest innovation. The ID. Buzz autonomous van is Volkswagen's latest step toward making driverless transportation a real option for cities and companies. Instead of modifying existing cars, Volkswagen's mobility brand, MOIA, designed this van from scratch for fleet operations. As a result, public transit agencies and corporate mobility providers now have access to a clean, connected and scalable solution for autonomous travel. Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide — free when you join my To begin with, the ID. Buzz autonomous van features SAE Level 4 autonomy, which means it can manage all driving tasks without human input in certain scenarios. This is possible because of 27 advanced sensors, including 13 cameras, nine LiDAR units and five radars. Together, these provide a 360-degree view of the surroundings, enabling safe and accurate navigation. In addition, Volkswagen partnered with Mobileye to integrate trusted self-driving technology. MOIA's Autonomous Driving Mobility-as-a-Service (AD MaaS) platform supports the van by managing operations, passenger support and real-time logistics. Inside, riders will notice thoughtful features like a spacious cabin with four seats, a raised roof and luggage space where the front passenger seat usually goes. Passengers can also unlock the vehicle using smartphones and dedicated buttons for support and emergencies enhance convenience and safety. Unlike Tesla's Robotaxi, which focuses on individual ride-hailing, the ID. Buzz targets companies and public transit agencies. Therefore, you're more likely to see these vans used in fleets than in private ownership. This vehicle is part of a complete, turnkey solution that includes not just the van but also training, fleet management tools and real-time monitoring software. Because of this, cities and companies can launch autonomous mobility services quickly and confidently. MOIA is partnering with Hamburg as its first municipal client, and a deal with Uber will bring the ID. Buzz to Los Angeles in 2026. Pending regulatory approval, a broader rollout is expected across Europe and the U.S. that same year. Autonomous vehicles like the ID. Buzz can help solve major transit challenges. For example, they could address growing driver shortages and improve service in rural areas. With a flexible and scalable approach, Volkswagen is positioning itself as a key player in the autonomous mobility race. Ultimately, the goal is to bring safe, sustainable and accessible driverless travel to more people, whether in dense cities or underserved communities. There's a lot to admire in the Volkswagen ID. Buzz autonomous shuttle. Its blend of AI-driven technology, practical design and user-friendly features make it a strong contender for the future of urban mobility. In many ways, it's redefining what we expect from autonomous transportation. Would you feel confident stepping into the Volkswagen ID. Buzz autonomous shuttle and letting it handle the entire ride on its own? Let us know by writing to us at Sign up for my FREE CyberGuy ReportGet my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. Plus, you'll get instant access to my Ultimate Scam Survival Guide — free when you join my Copyright 2025 All rights reserved.
Yahoo
an hour ago
- Yahoo
Which European countries have a wealth tax - and does it work?
As Sir Keir Starmer marks a year in Downing Street, a former Labour leader has suggested the prime minister should consider "asset taxes" for the wealthy as a way to regain support. Lord Neil Kinnock said that while the government is working towards "a series of really commendable and absolutely essential policies", they are "barely noticed" amid fury over cuts to the winter fuel payment, controversial welfare reforms and continuing with the two-child benefit cap. He said that a "cloud hangs over the accomplishments of the government... and people are not getting the message", with Labour trailing in the polls to Nigel Farage and Reform UK. Kinnock told Sky News' Sunday Morning With Trevor Phillips programme that there are things the party could do that "would commend themselves to the great majority of the general public", including "asset taxes". "By going for an imposition of 2% on asset values above £10 million, say, which is a very big fortune, the government would be in a position to collect £10 billion or £11 billion," he said. Conservative shadow chancellor Sir Mel Stride said he thought a wealth tax would be "the worst thing to do" and opposed the idea of "piling further taxes on the wealth creators". One common argument against wealth taxes is that they drive wealthy people to other countries, meaning less tax collected, but how true is this? Here, Yahoo News takes a look at other countries in Europe with forms of a wealth tax to see what the impact has been. Norway has a net wealth tax, which is defined by American non-profit the Tax Foundation as "taxes on an individual's or family's net assets levied on an annual basis". In 2023, the Guardian reported that a record number of super-rich Norwegians were leaving the country after the maximum wealth tax was increased to 1.1%. Ole Gjems-Onstad, a professor emeritus at the Norwegian Business School, told the newspaper he estimated that those who left the country had a combined fortune of at least NOK 600bn (£43.6bn). In 2025, Alex Recouso, co-founder and chief executive of CitizenX, a private platform helping people find and fund places that will accept them as citizens, put the number at around £39.5bn. He told Australia's Daily Telegraph that this had resulted in a lost £435 million in yearly wealth tax revenue. Norway's municipal wealth tax rate is 0.525% and is calculated based on global assets exceeding a net threshold of NOK 1,760,000 (around £128,000) for single/not married taxpayers and NOK 3,520,000 (around £256,000) for spouses, according to PwC. The state wealth tax rate is 0.475% and is calculated based on assets exceeding a net capital tax basis of NOK 1,760,000 (around £128,035) for single/not married taxpayers and NOK 3,520,000 (around £256,000) for spouses. For net wealth in excess of NOK 20,700,000 (around £1.5 million), the rate is 0.575%. These levies combined brings the maximum wealth tax rate to 1.1%. While many rich Norwegians were reported to have moved to Switzerland, the Alpine country has a wealth tax system of its own. Its tax is levied annually at a regional level and accounts for around 3.8% of the state's annual income, according to the Financial Times. However, the newspaper points out that on the whole, tax in Switzerland is low, varying from canton-to-canton, with the top federal rate at just 11.5%. There is also no inheritance tax at a federal level, although some cantons have their own. This could explain why Switzerland has not had the same exodus of the super-rich as Norway. Spain taxes its residents on its worldwide assets valued at over €700,000 (around £604,000), according to Sublime Spain, a company that helps support people's work and life in the Mediterranean country. However, some autonomous regions including Catalonia have a lower level of €500,000, while some don't have any wealth tax. Percentages vary depending on how much you have in assets, but generally, the wealth tax in Spain is between 0.2% and 2.5%. Spain's central government also introduced a nationwide "solidarity wealth tax" in recent years, ranging from 1.7% to 3.5% on people with net assets exceeding €3 million (around £2.6 million). The Tax Justice Network, a British advocacy group, holds up Spain as a shining example of how wealth taxes can work. It suggests that other countries can raise $2.1 trillion a year by following the example of Spain's "featherlight" wealth tax on the richest 0.5% of households. Using the Spanish structure as a model for its study, the group suggests a tax rate of 1.7% is applied on wealth above the 0.5% threshold; a rate of 2.1% is applied wealth above the 0.1% threshold; and a rate of 3.5% is applied to wealth above the 0.05% threshold. But how well has Spain's wealth tax worked? A review by the Tax Foundation found that in 2022, wealth taxes represented 0.19% of GDP in Spain, compared to 1.19% of Switzerland's. They accounted for 0.51% of the former's total tax revenues and 4.35% of the latter's. In 2023, the new solidarity tax was reported to have raised €632 million in the year, the Budget Ministry said, compared to €1.8 billion raised from all taxes on large fortunes. While these figures are not to be sniffed at, they are a small proportion of the £280.5 billion in total tax revenue raised by Spain that year, according to Ceic Data. Raise taxes or this government will fail, Rachel Reeves's former top adviser warns (The Independent) Another tantrum from the Labour backbenches is inevitable (Sky News) Starmer endorses UN's high-tax manifesto (The Telegraph)
