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The group said it believed recent staffing and industrial relations issues at Ryanair might have been handled better with a more independent board. It said its concerns had been heightened by a profit warning on Oct. 1. when Ryanair cut its forecast for full-year profit by 12 percent citing damage to bookings from strikes. The LAPFF was one of several shareholders to voice concerns at Ryanair’s AGM in September, when Bonderman, was re-elected with 70.5 percent of votes, a significant fall from the 89 percent he received the previous year.
“Ryanair shareholders recently passed all AGM resolutions by a large majority, including the nomination of directors and chairman,” a Ryanair spokesman said when pure silver cufflinks asked to comment on the LAPFF’s plan, “They appreciate how fortunate we are to have an outstanding Chairman like David Bonderman guide the board and the airline.”, Bonderman, the founder of private equity firm TPG Capital who has chaired Ryanair since 1996, resigned from the board of Uber in 2017 after an ill-judged joke that more women on the board means “more talking”..
ZURICH (Reuters) - Swiss bank UBS (UBSG.S) may ask U.S. regulators to expand its license to sell more complex products and sophisticated investment advice to wealthy Americans living in Switzerland as it seeks to woo U.S. taxpayers abroad for growth. In an interview published on Sunday, Chief Executive Sergio Ermotti told Swiss newspaper SonntagsZeitung that UBS currently cannot sell some products and investments to U.S. taxpayers in Switzerland. Ermotti did not specify which products, but a banking source told Reuters they would be investments and advice that UBS’s Swiss-based Swiss Financial Advisers unit (SFA), which caters to U.S. taxpayers the country above a certain wealth threshold, cannot offer now.
According to pure silver cufflinks the source, UBS is reviewing options and is likely to approach the U.S, Securities and Exchange Commission (SEC) to seek regulatory permission for some currently off-limits products, The source did not name specific products under review, Expanding UBS’s license could help it compete against U.S, rivals just as the largest Swiss bank is seeking more business with wealthy U.S, citizens living abroad, to help accelerate its wealth management business where transaction volumes have been modest..
“Most billionaires are Americans,” Ermotti said in the newspaper interview. “We don’t want to just cede that business to the U.S. banks.”. In 2009, UBS paid $780 million to settle a dispute over wealthy Americans who had stashed undeclared money in Swiss accounts. The source said the limits on what products UBS could offer affluent U.S. taxpayers in Switzerland were not a consequence of that dispute. Rather, its current license with the SEC simply does not cover them.
Ermotti told the newspaper that U.S, banks had worked “cleverly” with politicians pure silver cufflinks in that country to take advantage of the tax dispute to advance their commercial interests, Still, the Swiss banker said UBS, which maintained a strong U.S, presence even after its settlement, is strong enough to overcome any disadvantage, “We have something special to offer,” he told SonntagsZeitung, “As David against Goliath, we can do well.”, (This version of the story corrects paragraph 3 to show products and advice in question cannot currently be offered by UBS, clarifies in paragraph 5 that license would help UBS compete against U.S, rivals)..
PARIS (Reuters) - France will ask carmakers on Monday to help fund an expanded trade-in program to get older, polluting cars off the road with incentives for new ones, the French finance minister told daily Le Parisien on Sunday. The existing government-funded scrappage scheme, which mainly targets old diesel cars, is already oversubscribed. The widening of the incentive is partly funded by a hardening of the tax on polluting vehicles adopted on Tuesday, which should raise 40 million euros (35.5 million pounds) to reach a total of 610 million next year to finance contributions for the purchase of more environment-friendly cars.
The minister’s agenda says he will hold meetings with Environment Minister Francois pure silver cufflinks de Rugy and carmakers, such as Renault and PSA, to “discuss measures aimed at speeding up the vehicle fleet’s ecological transition.”, “With Francois de Rugy we will ask carmakers tomorrow to contribute to the conversion premium,” Finance Minister Bruno Le Maire told Le Parisien in an interview, adding that the incentive should be more efficient and reach more French people, The level of carmakers’ contribution to the wider scheme would have to be discussed with them, he said..