Latest news with #divestment
Yahoo
10 hours ago
- Business
- Yahoo
Banco Santander's (SAN) US Unit Divesting Seven Branches to Focus on Digital Banking
Banco Santander, S.A. (NYSE:SAN) is . On June 25, the company's US subsidiary, Santander Bank, announced that it had reached an agreement to sell seven of its branches in the Pennsylvania area to Community Bank N.A. A successful financial advisor giving advice to a satisfied client in an office. The divestment is part of Santander Bank's push to become a digital-first bank. Additionally, the sale underscores Santander's conviction that its customers will continue to receive quality service from Community Bank. Consequently, the sale will enable the bank to refine its physical footprint as it enhances its digital operations nationwide. Launched in 2024, the bank's digital operations under the Openbank division have attracted over $4 billion in deposits and served more than 100,000 customers. Banco Santander, S.A. (NYSE:SAN) is a global financial institution that provides a wide range of financial products and services to individuals, businesses, and organizations. These include banking, lending, investment, and insurance products, as well as support for companies and communities. While we acknowledge the potential of SAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Yahoo
10 hours ago
- Business
- Yahoo
Unilever (UL) Seeks to Divest Graze Amid Strategic Shift to Personal Care
Unilever PLC (NYSE:UL) is one of the 11 best European stocks to invest in. On June 18, it was reported that the company was exploring the sale of its healthy snack brand, Graze. The proposed sale is part of a strategic shift away from food products and towards personal care and beauty items. A supermarket aisle filled with Household and Personal Care Products. The company has reportedly begun reaching out to various consumer goods groups and food manufacturers. Unilever is reportedly analyzing its interest in purchasing Graze, which it acquired in 2019 for £150 million. The healthy snack brand could be valued between £50 million and £80 million in any sale now. The divestment of Graze comes as Unilever's Chief Executive Officer tries to reorient the company's product portfolio. The CEO has already increased focus on the health, beauty, and personal care segments while reducing the footprint of the food business. Unilever PLC (NYSE:UL) is a global consumer goods company headquartered in the UK. It makes and sells everyday products across five segments: Beauty & Wellbeing, Personal Care, Home Care, Foods, and Ice Cream. Its top brands include Dove, Knorr, Hellmann's, Magnum, Rexona, and Ben & Jerry's. While we acknowledge the potential of UL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Sign in to access your portfolio
Bloomberg
a day ago
- Business
- Bloomberg
Total Gets Offers for Potential Sale of Argentina Shale Oil Assets
France's TotalEnergies SE is in talks with at least two suitors who have submitted bids for its shale oil assets in Argentina, according to people familiar with the matter. Progress with the divestment comes after Chief Executive Officer Patrick Pouyanne said earlier this year that he'd be willing to offload stakes in the fields at the right price.
Yahoo
2 days ago
- Entertainment
- Yahoo
Over 200 actors call on SAG-AFTRA pension to divest fossil fuels
This story was originally published on ESG Dive. To receive daily news and insights, subscribe to our free daily ESG Dive newsletter. More than 200 members of Hollywood's top union, the Screen Actors Guild and the American Federation of Television and Radio Artists (SAG-AFTRA), are urging their pension plan to divest from fossil fuels, according to a Tuesday press release from climate nonprofit A-list actors Jane Fonda, Don Cheadle and Mark Ruffalo were among signatories to an open letter asking the SAG-Producers Pension Plan's trustees to excise more than '$100 million [invested] directly in fossil fuel companies' from its portfolio. The SAG-Producers Pension Plan is SAG-AFTRA's retirement plan and oversees over $5 billion in assets. The actor-led 'Retire Big Oil' campaign also asks the fund to reinvest 'at least 10%' of the divested funds in 'climate-safe, socially responsible funds' within five years. The letter — whose signatories also include Rosario Dawson, Laurence Fishburne and Mark Hamill — said the pension fund's fossil fuel investments are 'not just bad for the planet but for the wallets of every member of [the] union.' The actors told the plan's trustees that fossil fuels have been the worst performing sector of the economy over the past 10 years, based on S&P Global's sector index data. The actors are asking that the retirement fund divest from all fossil fuel companies, including those working in extraction, pipelines and related businesses. The letter said SAG-AFTRA's members depend on the fund in their retirement 'and fossil fuel investments are hurting their ability to retire well.' Cheadle — known for roles in 'House of Lies,' Marvel's 'Avengers' and more — said in the release that he has 'seen how fossil fuel pollution hits Black and Brown communities first and worst.' 'It makes no sense for the SAG pension to fund an industry driving these injustices,' Cheadle said. 'Divesting from Big Oil isn't only the right thing to do morally, it's also financially responsible for workers and retirees as the world rapidly moves toward clean energy.' The SAG-Producers Pension Plan has more than 65,000 participants, and the Retire Big Oil campaign will join the Climate Safe Pensions Network, which is coordinated by The campaign comes after January saw wildfires rage across more than 50,000 acres of Los Angeles, costing more than an estimated $250 billion in damages and economic loss, forcing hundreds of thousands to evacuate and leading to at least 29 deaths. Executive Director Todd Paglia said in the release that the actors' pension plan has 'the opportunity to lead in securing a sustainable future for its members' as the city rebuilds and wildfire risk intensifies. 'This fossil fuel divestment call is coming from working artists and creators who are the foundation of the labor union,' Paglia said. 'Together, we're urging SAG-AFTRA to align its investments with the values we fight for on- and off-screen: sustainability, justice, and long-term security.' The Global Fossil Fuel Divestment Commitments Database tallies 1,667 institutions who have divested from fossil fuels with an approximate $40.76 trillion collective asset value. Faith-based organizations make up 35.9% of the divesting institutions, followed by educational institutions (16%) and pension funds (12%), according to the database. Recommended Reading COP29 negotiators approve Article 6.4, establish standards for global carbon market 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
Auto Blog
3 days ago
- Automotive
- Auto Blog
Stellantis Squashes Rumors of Plan to Sell Maserati
'Respectfully, Maserati is not for sale' Maserati may be struggling, but its parent company, Stellantis, says it's not ready to cut ties. The automaker reaffirmed its commitment to the historic Italian brand this week, responding to renewed speculation that Maserati could be on the chopping block. The denial came after Reuters reported that Stellantis had hired McKinsey & Company to help chart a course forward amid sluggish sales and mounting external pressures, including new U.S. import tariffs. Two sources told Reuters that all options—including a potential divestment of Maserati—were on the table. But a Stellantis spokesperson pushed back firmly. 'Respectfully, Maserati is not for sale,' the company said, signaling it still sees long-term value in Maserati despite recent turbulence. Previous Play Next Unmute 0:00 / 0:10 2025 Ford Maverick: 4 reasons to love it, 2 reasons to think twice Watch More Consultants are reviewing all options, but nothing is final While Stellantis says it isn't shopping Maserati around, it has engaged consultants to take a hard look at the brand's future. According to sources familiar with the talks, McKinsey is still early in its review process and has yet to deliver any formal recommendations. 2025 Maserati GranCabrio Trofeo — Source: Maserati One source noted that Stellantis instructed McKinsey to consider 'all possibilities,' suggesting that even internal discussions may be more open-ended than the company lets on publicly. Meanwhile, there are reported disagreements among Stellantis's leadership. Some board members believe Maserati holds unique value as the company's only true luxury marque, while others question whether Stellantis can afford to give the brand the support it needs. A shrinking lineup and few short-term solutions Part of the problem is Maserati's product pipeline—or lack thereof. The brand discontinued two of its best-selling models, the Ghibli sedan and Levante SUV, with replacements not scheduled until 2028 and 2027, respectively. That's an eternity in a rapidly evolving auto market. 2021 Maserati Levante — Source: Maserati Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. For now, the $80,000 Grecale compact SUV is Maserati's only utility vehicle—a risky position given ongoing consumer demand for crossovers. The GranTurismo and MC20 supercar round out the lineup, but neither is likely to generate meaningful volume in today's market. Former Stellantis CEO Carlos Tavares acknowledged last year that Maserati was 'in the red,' and the company's performance hasn't improved. Through the first quarter of 2025, sales are down nearly 50% compared to the year before. Final thoughts The broader issue might be strategic confusion. Maserati is supposed to be Stellantis's halo brand, but it's increasingly caught in a tug-of-war with Alfa Romeo. Both companies are Italian, performance-focused, and eyeing premium segments—but they can't cannibalize each other. That makes lineup planning even more complicated. 2024 Alfa Romeo Tonale Tributo Italiano Special Series — Source: Alfa Romeo If Stellantis is serious about turning Maserati around, it will likely need to invest heavily and clarify the brand's role within the conglomerate. But that kind of long-term bet is hard to square with short-term financial losses, especially as Stellantis faces headwinds on multiple other fronts. For now, the automaker is holding the line. But unless sales turn around or the strategy sharpens, the rumors are unlikely to go away. About the Author Elijah Nicholson-Messmer View Profile
