Word: abn
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Dates: during 2010-2019
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...Europe, Santander has come out ahead with its 2007 purchase of a chunk of ABN Amro. Santander joined forces with the Royal Bank of Scotland and Belgium's Fortis to buy the ailing Dutch giant for $103.7 billion. But while both RBS and Fortis are now on the casualty list themselves, Santander's $17 billion stake in the Brazilian wing of ABN Amro is worth about $49 billion after merging with Santander's existing business in Brazil. In 2007, the firm spent just under $10 billion for Italy's Banca Antonveneta, which it promptly sold off for a $3.74 billion...
...This isn't the first time that Vietnam has detained staff from a foreign company after losing money. In 2006, the Vietnamese government arrested four employees of ABN AMRO, a Dutch bank, for fraud after the government lost money on a foreign currency contract. To end the dispute, ABN AMRO paid $4.5 million to a Vietnamese state-owned bank, apparently to secure the release of the four Vietnamese employees who faced the death penalty. Many investors hoped this was a small bump on the path to further economic reforms, and it didn't slow Vietnam's entry into the World...
...broken aircraft parts. A Qantas spokesperson said that at all times the planes had met regulatory requirements and that the CAAV brought up only "quality, not safety concerns." Thayer, however, predicts that Vietnam will try and continue to try to find small oversights to "extort" Qantas like they did ABN AMRO more than three years ago. "They just find one little mistake and the foreigner is wrong," he says...