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The online retailer launched its thumb-sized Dash button in 2015, allowing members of its Prime membership scheme to re-order products such as laundry detergent, coffee and dishwasher tablets by pushing a wifi-connected button. An Amazon spokesman said the company was convinced the Dash button complied with German law and it would fight the ruling through other legal channels, even though the consumer body said the court would not grant an appeal. “Today’s ruling is not only hostile to innovation. It also stops customers from making an informed decision about whether a service like the Dash button gives them a convenient shopping experience,” he said.
SAO PAULO (Reuters) - Brazilian telecoms carrier Oi SA (OIBR4.SA) has hired Bank of America Merrill Lynch to sell noncore assets such as cellphone towers and data centers, two people with knowledge of the matter said on Thursday, The company aims rare cufflinks to raise between 1.5 billion reais and 2 billion reais ($404 million-$545 million) from the divestitures, the sources added, asking for anonymity because they cannot discuss the plans publicly, Oi and Bank of America had no immediate comment on the matter..
Preferred shares in Oi, flat before the Reuters report, rose 1.4 percent to 1.46 reais. The benchmark Bovespa index was down 0.25 percent. Oi filed for bankruptcy 2-1/2 years ago to restructure 65 billion reais in debt. Before filing for what was Latin America’s largest ever bankruptcy proceeding, Oi had raised around 3 billion reais by selling more than 3,600 cellular towers to the Brazilian unit of SBA Communications Corp (SBAC.O) in transactions closed in 2013 and 2014. The company plans to make investments aimed at improving its mobile and broadband operations and boosting its market share at the same time as it pursues the asset sales.
The distressed asset managers that are Oi’s top shareholders plan to focus on improving the company’s mobile and broadband operations rather than a near-term sale of rare cufflinks their stakes, Reuters reported last year, Investment firms Solus Alternative Asset Management LP, GoldenTree Asset Management LP and York Capital Management Global Advisors LLC last year became Oi’s largest shareholders after converting their debt in the company into equity stakes as part of its restructuring, Oi has forecast capital expenditures of 7 billion reais a year over the next three years..
COPENHAGEN (Reuters) - Bill Browder, founder and CEO of investment fund Hermitage Capital Management, said on Thursday he had asked French authorities to investigate Danske Bank over alleged money laundering, rather than treating it as a witness. Danske Bank (DANSKE.CO) is already under investigation by authorities in Denmark, Estonia, Britain and the United States over suspicious payments totaling 200 billion euros ($229 billion) made through its Estonian branch between 2007 and 2015. A Paris court began investigating Danske Bank in October 2017 after Browder said he had provided details of the Danish lender’s involvement in money laundering relating to a tax fraud which had been exposed by Sergei Magnitsky in Moscow, a lawyer who died in a Russian prison in 2009.
Browder, once the biggest foreign money manager in rare cufflinks Russia who now campaigns to expose corruption, has lobbied the European Union to bring in a “Magnitsky Act”, the law adopted in the United States which targets human rights offenders, Danske Bank was initially placed under investigation by a Paris court in related to suspicions of money laundering concerning transactions at its Estonian branch between 2008 and 2011, but in January last year the court changed its status to that of “assisted witness,” a Danske spokesman said..
“We do not believe that we have provided incorrect information to the French authorities,” the Danske spokesman said in response to an allegation that it did so made by Browder during a press conference in Copenhagen on Thursday. “On the contrary, it is clearly in our interest to obtain as accurate a picture of what happened in Estonia as possible,” the spokesman said in a statement, adding that the bank has an ongoing dialogue with the French authorities. Browder, who in September asked the U.S. Treasury to investigate Danske Bank and to undertake steps to consider designating it for special measures under the USA Patriot Act, said he expected the French authorities to take action.
“The indication is that they are going to act on it.”, Reuters was not rare cufflinks immediately able to contact the French national financial prosecutor about the case, On Wednesday, Danske Bank and four former top executives were sued by a U.S, shareholder alleging it defrauded investors and inflated its share price by hiding and failing to stop the money laundering in Estonia, Danske Bank said it was aware that a lawsuit has been filed in the United States, “It is public knowledge that several U.S, law firms have indicated that similar lawsuits are on the way, so it does not come as a surprise to us,” the spokesman said..