Latest news with #Amsterdam-headquartered
Yahoo
2 days ago
- Business
- Yahoo
EU regulators seek feedback on Prosus' offer to sell down Delivery Hero stake
By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators are seeking feedback from third parties on Prosus' offer to slash its Delivery Hero stake to below 10% to address EU concerns about its 4.1 billion euro ($4.77 billion) Just Eat Takeaway deal, a person with direct knowledge of the matter said on Monday. Amsterdam-headquartered Prosus has proposed incrementally selling down its 27.4% stake in Delivery Hero and giving up its board seat, other people familiar with the matter told Reuters earlier this month. The company, which is majority owned by South Africa's Naspers, is banking on its AI capabilities to boost Just Eat Takeaway, Europe's biggest meal delivery firm. The European Commission, which acts as the competition enforcer in the 27-country bloc, did not detail the size of the stake to be sold off in the document sent to third parties, the person said. Respondents have until July 31 to reply. The Commission, which will decide on the deal by August 11, declined to comment. Prosus was not immediately available for comment. Delivery Hero and Just Eat Takeaway compete with each other in Austria, Bulgaria, Italy, Poland and Spain. ($1 = 0.8587 euros) 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
Yahoo
6 days ago
- Business
- Yahoo
Canadian toll firm hires US construction exec as CEO
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Jose Espinosa is taking the reins as president and CEO of toll highway company 407 ETR, according to a news release from the Woodbridge, Ontario-based firm. He brings to the role more than 25 years of international experience in tolling and highway infrastructure across the U.S., Canada, Europe and Australia. Espinosa succeeded Javier Tamargo, who served as president and CEO since September 2020, on July 16. Tamargo is now CEO of Austin, Texas-headquartered highway firm Cintra US, a subsidiary of Amsterdam-headquartered civil engineering company Ferrovial. Espinosa also joined the 407 ETR board of directors this month. His appointment is a return to the firm: Between 2009 and 2016, Espinosa worked as corporate shareholder liaison and reporting manager, and later as project director for Highway 407 ETR East operations, per the release. Espinosa recently served as CEO of three North Texas highways — the Lyndon B. Johnson Expressway, North Tarrant Express and North Tarrant Express 35W — where he worked to increase capacity and connectivity on main arteries in the Dallas-Fort Worth area, per the release. Prior to that, he served as CEO at I-77 Mobility Partners in Charlotte, North Carolina. Previously, Espinosa also worked at Ferrovial, starting in 2000 as an analyst in the corporate treasury department and progressing through several management positions at Madrid-based Cintra, according to his company biography page. "Mr. Espinosa comes with a proven track record in complex infrastructure management and is well positioned to lead 407 ETR through its next phase of growth and operational excellence. His global experience will be instrumental as we continue to drive innovation, enhance the customer experience, and deliver long-term value to our stakeholders," said 407 International Board Chair David McFadden in the release. Recommended Reading Sundt promotes from within for Southwest division leader Sign in to access your portfolio
AU Financial Review
01-07-2025
- Business
- AU Financial Review
Inside the high-frequency trading floor where grads are paid $250,000
Stockbroking is tough, fund managers face intense competition from index-tracking robots. Still, there's one corner of the market that's living it up, if not quite Wolf of Wall Street-style – high-frequency traders, where finance meets technology. And at its centre is Optiver, the Amsterdam-headquartered market-making and trading firm. Here, graduate salaries head north of $250,000. Then there's the new office, five levels in the centre of Sydney CBD that opened this week and will act as the firm's headquarters in Asia. Sure, Optiver has offices in Taipei, Hong Kong, Shanghai and Singapore. But the timezone in Sydney is ideal, and the lifestyle is attractive enough to lure the best traders.
Yahoo
09-06-2025
- Business
- Yahoo
Infrastructure is a solid bet: Ferrovial exec
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Even as federal infrastructure dollars have become more uncertain in the U.S., the private sector can step in to help close the public funding gap. That's according to Silvia Ruiz, global head of investor relations at Amsterdam-headquartered civil engineering firm Ferrovial, who noted that urbanization and population growth are driving the need for transportation, data centers and energy projects, making infrastructure an attractive sector for investors. 'From express lanes to smart cities, infrastructure demand is soaring,' Ruiz told Construction Dive. Indeed, infrastructure is a hot item for the likes of New York City-headquartered investment manager BlackRock, according to Infrastructure Investor. In addition, last month, Barings, the Charlotte, North Carolina-based unit of Massachusetts Mutual Life Insurance, collected $950 million for its private equity and infrastructure fund for high-growth energy, digital infrastructure and transportation assets, The Wall Street Journal reported. Here, Ruiz talks with Construction Dive about private infrastructure funding, global trends and which sectors are set to be hot in the coming years. The following has been edited for brevity and clarity. SILVIA RUIZ: We believe infrastructure is an attractive sector from an investment point of view — stable, inflation-resistant and fueled by state spending. Through public-private partnerships, the private sector helps close the funding gap, ensuring industry stability. Consumers interact with major infrastructure daily by driving on highways, passing through airports and witnessing firsthand the surge in travel and tourism. By investing in what they know and use, investors can develop a deeper understanding of how the industry grows over time, like with population influxes to growing cities. Overall, as cities, communities and businesses grow across the U.S., the need for infrastructure projects and improvements increases. For example, we're seeing continued growth in highways and airports, driven by cities' needs to alleviate congestion and airport modernization efforts as populations grow. The necessity of infrastructure creates a steady demand for investments. We remain bullish on the infrastructure sector. The long-term need for modern, resilient infrastructure in the U.S. remains unchanged as the industry supports community growth in America's expanding cities. Ferrovial has a track record of financing, designing, building, operating and maintaining large-scale infrastructure across industries. We work proactively to maintain compliance, minimize risks and ensure that our projects contribute to shared objectives such as improving transportation, fostering economic growth and enhancing safety. Since we invest equity in developing these projects, public funds can be allocated to address other local needs. We expect to see strong growth in transportation, data centers and energy. Developing efficient highways and modernizing aging airports will continue to be essential. We're optimistic that public-private collaboration will continue to be a growing trend as demand increases and budgets are limited, and the private sector can help to close that gap. We've also seen energy demand rise exponentially to help power AI processing through data centers and expect continued growth to help power technology demand increase. Globally, infrastructure investments are increasing particularly in rail, energy and digital infrastructure sectors, driven by the trend of more people moving to fast-growing cities. Infrastructure, particularly for the highway and airport sectors, has rebounded significantly following COVID-19 with most nations reporting travel figures higher than pre-pandemic numbers in 2024, showing the industry's resilience. In the first quarter of this year, Ferrovial's highways division delivered 14.1% year-over-year revenue growth. Notably, 407 Express Toll Route in Canada delivered double-digit EBITDA growth despite adverse weather conditions. These mobility solutions are essential assets, indicating just how resilient infrastructure is as an investment due to its continuous operation. And the need for these projects only increases to meet growing community demands. First and foremost, population influxes to cities and increases in travel due to that movement continually drive infrastructure investment. Public-private partnerships continue to be a successful focus in delivering essential transportation needs, from efficient highways to modernizing airports. We're tracking the rise in energy demand alongside the growth of data centers and sustainable AI cloud solutions. While our current investment is modest, we've established new divisions to explore the opportunity. For now, our primary focus remains on U.S. express lanes. Ultimately, the future of infrastructure lies in how well we adapt to new technologies, to global challenges and to the evolving needs of the communities we serve. We see that as both a responsibility and an opportunity. 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
Business Times
14-05-2025
- Business
- Business Times
ABN Amro profit beats estimates on fees, bad loan provisions
[AMSTERDAM] ABN Amro Bank reported first-quarter profit that beat expectations after higher fees and lower-than-forecast provisions for souring loans helped offset the effect of declining interest rates. Profit at the Amsterdam-headquartered bank came in at 619 million euros (S$902.8 million) for the three months through March, compared with the analyst estimate of 543 million euros in a Bloomberg survey. Fee income grew 8 per cent due to higher assets under management and increased trading volumes that drove income from clearing, better than estimated. 'Fee growth is continuing, and the business momentum is good,' chief financial officer Ferdinand Vaandrager said in an interview. The results are the first to be presented by Marguerite Berard, a former BNP Paribas executive who was named to the bank's top role last month. She takes over the reins as the continent's banks grapple with the European Central Bank's interest rate cuts and the potential economic fallout of tariffs. ABN Amro is also working on containing expenses arising out of an increase in staff it had brought in to boost data capabilities and for regulatory programmes over the past year. In April, the firm imposed a hiring freeze to help achieve cost targets. 'After a few quarters of rising costs, we managed to reduce our underlying costs' in the first quarter compared with the previous three months, Berard said in a statement. 'To deliver on our guidance of keeping underlying costs broadly flat compared with last year, cost discipline remains a priority,' she said. The firm forecasts costs of between 5.3 billion euros to 5.4 billion euros this year and reiterated its outlook for net interest income. Berard is set to lead a review of the bank's activities to improve profitability, with ABN Amro's next strategic plan due to be presented at a capital markets day in November. This comes as the Dutch government, which is the lender's largest shareholder since its bailout, is in the midst of reducing its stake to about 30 per cent. ABN Amro has previously said it will provide an update on a potential share buyback along with second-quarter results. BLOOMBERG
