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New credit card Aven taps home equity
  + stars: | 2024-07-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew credit card Aven taps home equityCNBC's Diana Olick joins 'The Exchange' to discuss the latest developments in the housing market.
Persons: Diana Olick
A top EU court struck down sanctions against two billionaire Russian oligarchs on Wednesday. Judges found there was insufficient evidence that they had backed Vladimir Putin's war in Ukraine. The oligarchs, Mikhail Fridman and Petr Aven, are worth almost $20 billion combined, per Bloomberg. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJudges in Brussels struck down sanctions against two Russian billionaires on Wednesday, potentially handing Moscow a big win as the war in Ukraine rages on.
Persons: Vladimir Putin's, Mikhail Fridman, Petr Aven, , they'd Organizations: EU, Bloomberg, Service, Moscow, European Union, Business Locations: Ukraine, Brussels, European
Trump, the frontrunner for the 2024 Republican presidential nomination, is suing Orbis Business Intelligence for alleged data protection breaches over a dossier written by former British intelligence officer Christopher Steele, who co-founded Orbis. The Steele dossier, published by the BuzzFeed website in 2017, alleged ties between Trump's campaign and Russia and said Trump engaged in sexual behaviour that gave Russian authorities material with which to blackmail him. Orbis, however, argues that Trump is bringing the claim simply to address his "longstanding grievances" against the company and Steele. 'SHOCKING AND SCANDALOUS'Trump's lawyer Hugh Tomlinson told the court the former president wanted to prove that the "shocking and scandalous claims" in the Steele dossier were false. White said Trump only sued Orbis in London after a similar case brought in Florida against Orbis, Steele and others – including his Democratic opponent in the 2016 election, Hillary Clinton – was dismissed.
Persons: Donald Trump, Marco Bello, Christopher Steele, Trump, Steele, Hugh Tomlinson, Tomlinson, Antony White, White, Orbis, Hillary Clinton –, Jean Carroll, Letitia James, Trump's, Mikhail Fridman, Petr Aven, Karen Steyn, Sam Tobin, Ed Osmond, Christina Fincher, Rod Nickel Organizations: REUTERS, Trump, Orbis Business Intelligence, Orbis, Republican, Mr, Democratic, New, Thomson Locations: West Palm Beach , Florida, U.S, London, Russia, British, Moscow, St . Petersburg, Florida, New York
Pavel Golovkin/Pool via REUTERS Acquire Licensing RightsKYIV, Oct 6 (Reuters) - A Ukrainian court has frozen the Ukrainian assets of three Russian businessmen over their alleged support for Russia's war in Ukraine, prosecutors and the security service said on Friday. The Ukrainian Security Service (SBU) said assets owned by Mikhail Fridman, Pyotr Aven and Andrey Kosogov had been frozen. It said the frozen assets included securities and corporate rights of mobile phone operators, a mineral water producer, financial and insurance companies. "The beneficial owners of the companies are three Russian oligarchs who own one of the largest Russian financial and investment consortia," it said. Since the beginning of Russia's military invasion in February 202, Ukraine has repeatedly seized and nationalised property belonging to Russian businessmen involved in financing the aggression.
Persons: Mikhail Fridman, Keren Hayesod, Pavel Golovkin, Pyotr Aven, Andrey Kosogov, Vladimir Putin's, General's, Pavel Polityuk, Timothy Heritage, William Maclean Organizations: Alfa, REUTERS Acquire, Rights, Ukrainian Security Service, Thomson Locations: Moscow, Russia, Ukraine, Russian
Ukraine has launched a site to track $1.3 billion of art owned by sanctioned Russian oligarchs. The site lists artworks like Picassos and Warhols believed to be bought and sold by sanctioned figures. The nature of the art market offers many loopholes for the transfer of assets, the site says. The database, it says, will allow art market actors to check that they are not dealing in sanctioned goods. Art dealings can be a perfect vehicle for the quiet transfer of assets, largely taking place away from the public eye.
Persons: Warhols, Christ, Auguste Rodin's, Dmitry Rybolovlev, oligarch, Mikhail Fridman, Andy Warhol, Marilyn Monroe, Kandinsky, Petr Aven, Vladimir Putin Organizations: National Agency on Corruption Prevention, Ukraine, EU Locations: Ukraine, Russian, Israeli
The majority went to a security company owned by Mr. Aven’s financial manager, who has been under investigation for potentially helping Mr. Aven evade sanctions, court records show. That is all,” said Mr. Aven, reached by phone in the Hamptons. The British Treasury granted at least 82 licenses last year and many more applications are pending, according to official figures seen by The New York Times. Treasury officials allowed Mr. Aven, for example, to spend more than £1 million while technically cut off from the British economy. At the same time, law enforcement officers investigated him for possible sanctions evasion and raided his countryside mansion last year.
Persons: Petr Aven, Aven, Fridman, , Vladimir V, Putin Organizations: Mr, Kremlin, Hamptons, British Treasury, The New York Times
But many of them are allowed to spend a fortune on living expenses, The New York Times reported. One tycoon had permission to pay 19 members of staff, including private chefs, the report said. Last year, officials granted at least 82 exemptions — known as licenses — to oligarchs who were affected by UK sanctions imposed as a result of Russia's invasion of Ukraine, the report said. A big chunk of that money went into a security company that has been under investigation for likely helping Aven evade sanctions, The Times reported, citing court records. A spokesperson for the UK Treasury told The Times that licenses to allow payments for "basic needs" are "strictly monitored."
Persons: Mikhail Fridman, Fridman, Pavel Golovkin, Petr Aven, Vladimir Putin, Aven, Oleg Tinkov, Putin Organizations: New York Times, Service, The Times, EU, Bloomberg, Treasury, Times, Alfa Locations: Wall, Silicon, Ukraine, London, British, Russian, Moscow, Russia
Ukraine to nationalise Sense Bank from its Russian owners
  + stars: | 2023-07-20 | by ( ) www.reuters.com   time to read: +1 min
KYIV, July 20 (Reuters) - Ukraine's central bank said it will nationalise Russian-owned Sense Bank, one of the country's top commercial banks, and put it under temporary administration on Friday. The National Bank of Ukraine (NBU) said in a statement on Thursday it decided to "withdraw from the market the systemically important" bank and submitted a proposal to the government on the state's participation in the process. Sense Bank, with 3 million depositors, posted losses of 7 billion hryvnias ($189.75 million) in 2022, central bank said. Mikhail Fridman has a 32.86% stake in ABH Holdings S.A., the majority owner of Sense Bank, while Petr Aven holds 12.4%, the bank said on its website. ($1 = 36.8910 hryvnias)Reporting by Olena Harmash, Writing by Anna Pruchnicka, Editing by Timothy Heritage and Richard ChangOur Standards: The Thomson Reuters Trust Principles.
Persons: Andriy Pyshnyi, Mikhail Fridman, Petr Aven, Olena Harmash, Anna Pruchnicka, Timothy Heritage, Richard Chang Organizations: Bank, National Bank of Ukraine, Sense, ABH Holdings S.A, Sense Bank, Thomson Locations: Ukraine
Russia minted 22 new billionaires in 2022, per Forbes World's Billionaires List. There are now 105 Russian billionaires worth $474 billion collectively — up from $320 billion on-year. The fortunes of some Russian billionaires have been boosted by high commodity prices. In the US, 735 billionaires saw $200 billion wiped off their collective net worth between March 2022 and 2023, per Forbes. In China, 735 billionaires saw their net worth crash by $300 billion in the same period, per Forbes.
Alfa Bank had made a net profit of 136.6 billion roubles in 2021, a record year for Russian banking sector profits. Provision costs for possible loan losses jumped about five times to 167.4 billion roubles, Alfa Bank's report said. However, net interest income rose to 211.7 billion roubles from 175.8 billion roubles in 2021 and Alfa Bank's assets increased to 5.82 trillion roubles, from 5.62 trillion roubles. Alfa Bank did not respond to a request for comment. Sanctioned Russian businessmen Mikhail Fridman and Petr Aven are in talks over selling their stake in Alfa Bank to their longtime business partner and its co-founder Andrei Kosogov.
Fridman, Aven in talks over selling stake in Russia's Alfa Bank
  + stars: | 2023-03-10 | by ( ) www.reuters.com   time to read: +1 min
March 10 (Reuters) - Sanctioned Russian businessmen Mikhail Fridman and Petr Aven are in discussions over selling their stake in private Russian lender Alfa Bank to longtime business partner and Alfa Bank co-founder Andrei Kosogov, the bank said on Friday. "As far as we know, such a deal is indeed being worked out," Alfa Bank said. Alfa Bank has been placed under Western sanctions, imposed in response to Russia's invasion of Ukraine last year. Fridman and Aven are seeking to have the personal sanctions on them removed. "Neither Andrei Kosogov nor the seller are under sanctions, so it is likely that the approval of the deal by foreign regulators will not be needed," Alfa Bank said.
The frozen Russian assets were 6 billion pounds more than the amount reported across all other British sanctions regimes. It does not include physical assets such as real estate or assets held in Crown Dependencies such as Guernsey and Jersey. The European Union, a 27-nation bloc with an economy five times larger, said in July it had frozen 13.8 billion euros ($13.83 billion) of Russian assets over the war in Ukraine. While Russian assets are currently only frozen, there are discussions on what options are available to seize them. In the first test of Britain's approach to enforcing sanctions, Russian billionaire Petr Aven is challenging in a London court allegations that he evaded sanctions.
Veon operates its Beeline brand through its subsidiary Vimpelcom in Russia, a market that accounts for around half of the group's revenues. Veon also operates Beeline in Kazakhstan and Kyivstar in Ukraine. "We regularly evaluate our portfolio and look for investment or divestment activity that could create value for VEON's stakeholders," Veon said in a statement. Veon's shares have traded near record lows since tumbling after Russia sent its armed forces into Ukraine in February. In Amsterdam, Veon shares were up around 7% by 1052 GMT.
CNN —“The Bachelorette” costars Gabby Windey and Rachel Recchia saw a dramatic two-part finale to the season. At the start of the finale, both women had a final suitor. Recchia was left with Tino Franco while Windey was with Erich Schwer, who seemed hesitant to propose to her. He explained that he had met the woman before filming and that they had kissed after running into each other at a bar. The two fought until host Jesse Palmer told Recchia that someone “demanded a chance to talk to you,” bringing runner-up Aven Jones on stage.
Register now for FREE unlimited access to Reuters.com RegisterPeople wearing protective face masks are seen outside a Holland & Barrett store in Durham, as the spread of the coronavirus disease (COVID-19) continues, Durham, Britain, April 8, 2020. The move is intended to prevent lenders from taking control of Holland & Barrett if it defaulted on its repayment obligations, the report said. Both Holland & Barrett and LetterOne did not immediately respond to Reuters' request to comment. The Russian-linked investment vehicle, co-founded by oligarch Mikhail Fridman, acquired Holland & Barrett in 2017. read more($1 = 0.8779 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Shanima A in Bengaluru; Editing by Shinjini Ganguli and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
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