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☆ Milan said it would ban ice cream on the streets after midnight. After a fierce backlash, it backed down.
▼ + stars: | 2024-05-02 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Milan has reversed a proposal to ban late-night sales of ice cream after a fierce public backlash. Late-night ice cream is a traditional treat for many Milanese. AdvertisementThe Italian city of Milan has U-turned on a controversial proposal to ban the sale of ice cream after midnight, according to multiple reports. It's not the first time Milan has tried to bring an ice cream ban into law. AdvertisementIn 2013, city officials tried and failed to ban late-night ice cream, local paper Corriere della Sera reported at the time.

Persons: Milan, —, Marco Granelli, Marco Barbieri, Sera, Alessia Cappello Organizations: Milanese, Service, Sky, Sky News, Guardian Locations: Milan, Porta Venezia, Venice

☆ A longtime Russia ally suspended participation in Putin's NATO rival after calling it ineffective
▼ + stars: | 2024-02-26 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Armenia, formally a key ally of Russia, has suspended its participation in a Russia-led international alliance, according to its prime minister, Nikol Pashinyan. The Collective Security Treaty Organization, or CSTO, is considered Russia's equivalent to NATO, and Russian President Vladimir Putin hoped it could rival the Western military alliance. But splinters have emerged in the group since Russia invaded Ukraine, and Armenia has repeatedly challenged its usefulness. Pashinyan has frequently expressed frustration with Russia and the CSTO in recent years, accusing the alliance of being ineffective and describing Armenia as no longer an ally of Russia. Frustrations with Russia have also risen among other CSTO members, experts told Business Insider last year.

Persons: Nikol, Vladimir Putin, Pashinyan, France24, Putin, snubs, Jaroslava Barbieri Organizations: NATO, Security, Organization, Moscow Times, Soviet Union, University of Birmingham Locations: Armenia, Russian, CSTO, Russia, Ukraine, Soviet, Azerbaijan, France, Eurasia, Nagorno, Karabakh, Iran, North Korea, China, tatters

☆ Italy's Amalfi Coast will get a new airport
▼ + stars: | 2024-02-09 | by ( Julia Buckley | ) edition.cnn.com time to read: +4 min

That rule is about to get a little less hard and fast as the Amalfi Coast gets its “own” airport. Technically it’s a reopening rather than a new airport built from scratch. ‘An important moment for the region’The Amalfi Coast is stunningly beautiful -- and it is one of the most overtouristed parts of Italy. GI_ELLE/iStock Editorial/Getty ImagesAnd while the Amalfi Coast has struggled with overtourism with authorities introducing major restrictions on cars to ease congestion, locals seem pleased. Fausto Salsano, owner of Vietri Centro B&B in Vietri sul Mare, the first village on the famous coastline, told CNN: “I’m thrilled that we will have an Amalfi Coast airport.

Persons: CNN —, Volotea, “, ” GESAC, Frank Bienewald, Carlos Muñoz, GESAC’s Roberto Barbieri, Fausto Salsano, “ I’m, it’ll, ” Organizations: CNN, Amalfi Coast, Volotea, Aircraft, Nantes, Cagliari, Catania, GESAC, Vietri Centro Locations: Italy, Amalfi, Salerno Costa, Salerno, Airlines, Spanish, France, Sardinia, Verona, Abu Dhabi, Amsterdam Schiphol, Kuwait City, Naples, Vietri sul Mare, Amalfi Coast

The people who work the levers of Japan’s economy are in a bind: The country’s low interest rates, which they have long used to goose growth, are now well out of step with other big economies. The yen is at a near-record low against the U.S. dollar, threatening to inflict prolonged inflation on Japan, which for years suffered the opposite problem. On Tuesday, the central bank, the Bank of Japan, tried to thread the needle, announcing a policy that aims to nudge bond yields higher. Decisions by the Bank of Japan, led by Governor Kazuo Ueda, reverberate around the world, especially in American markets. Interest rates in the United States are well above Japan’s — yields on 10-year U.S. Treasury notes briefly pushed above 5 percent in September, a level not seen since 2007.

Persons: Kazuo Ueda Organizations: U.S ., Bank of Japan, Treasury Locations: Japan, Tokyo, reverberate, United States

☆ How the Putin family's 'blood sacrifice' may be driving the high Russian casualty rate in Ukraine
▼ + stars: | 2023-10-29 | by ( Rebecca Rommen | Julian Kossoff | ) www.businessinsider.com time to read: +6 min

People who study Russia say war and a glorious death are ingrained in the national psyche. The willingness of President Vladimir Putin and his generals to sacrifice thousands of soldiers in often-reckless assaults has become a blood-drenched hallmark of the war. "So in his own family, they've already paid that blood sacrifice, and he did his duty during the Cold War. "The official mantra of the Russian military is John 15:13, from the Bible," Carleton said. In Putin recruiting soldiers from villages in remote parts of Russia and among its non-Russian ethnic groups, Putin can avoid the perception of high casualty rates.

Persons: —, Vladimir Putin, Putin, Gregory Carleton, Carleton, they've, Jaroslava Barbieri, Kremlin, Barbieri, Ben Soodavar, Kirill Organizations: Service, Avdiivka, UK Ministry of Defence, Tufts University, Birmingham University, Ukraine's Military Intelligence, King's College London, Nazi, Reuters, Russian Orthodox Church Locations: Russia, Ukraine, Russian, Germans, Kyiv, Nazi Germany, Ukrainian, Donetsk, Moscow, Donbas

☆ Italy poised to shake up Treasury with new unit for state-run firms
▼ + stars: | 2023-09-14 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

The audit court on Thursday approved the decree needed to set up the unit, the sources said, despite making critical observations about some aspects of it. Giorgetti has approached former banker Marcello Sala, currently director for investor relations at the Treasury, to lead the department, they added. Under the reorganisation plan, the influential Treasury department within the ministry led by veteran economist Riccardo Barbieri would be split into two units. The Treasury will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. ($1 = 0.9323 euros)Additional reporting by Valentina Za in Milan Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Sala, Giancarlo Giorgetti, Giorgetti, Marcello Sala, Antonino Turicchi, Dario Scannapieco, Riccardo Barbieri, Valentina Za, Christina Fincher Organizations: Treasury, Economy, ITA Airways, Department, Thomson Locations: ROME, Italy, Siena, Milan

☆ A close Russian ally snubbed Putin by announcing military exercises with the US — the latest in a series of embarrassments for the president
▼ + stars: | 2023-09-07 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Armenia will host a joint military exercise with the US later this month. The country is a longtime Russian ally but has repeatedly expressed its frustration with it. This includes threatening to leave the Russia-led CSTO and refusing to host its military drills. A US military spokesperson told Reuters that 85 US soldiers and 175 Armenian soldiers will take part in the exercise. Armenia also hosts a Russian military base.

Persons: CSTO, Vladimir Putin, didn't, Nikol, Pashinyan, Putin, Thomas Graham, Jaroslava Barbieri, Dmitry Peskov Organizations: Service, Reuters, NATO, Soviet, Yale, University of Birmingham Locations: Armenia, Russian, Russia, Wall, Silicon, Soviet Union, Azerbaijan, Ukraine, East, tatters .

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/style/fashion/paris-couture-armani-loewe-chanel-44b17c97

Persons: Dow Jones, chanel, 44b17c97 Organizations: loewe Locations: paris

☆ China Evergrande, Giant Real Estate Firm, Files for U.S. Bankruptcy
▼ + stars: | 2023-08-17 | by ( Rich Barbieri | ) www.nytimes.com time to read: +1 min

China Evergrande, a behemoth property developer, filed for bankruptcy protection on Thursday more than two years after it defaulted on its debt. The company’s meltdown in 2021 was followed by the defaults of smaller developers and signaled the start of a slow decay of China’s real estate sector that now threatens to inflict damage on the country’s broader economy. Evergrande’s bankruptcy petition, filed in the United States bankruptcy court in the Southern District of New York, comes as the company continues to try to settle staggering levels of debt. As of the end of last year, Evergrande, which along with its affiliated companies has assets in the United States, reported liabilities totaling $335 billion. That Evergrande is still negotiating with its creditors is a sign of the deep structural problems and slow-moving crash facing China’s real estate market.

Organizations: of Locations: China, United States, Southern, of New York

☆ Handbags and hats made of mushroom leather could become the next luxury items for brands like Hermès
▼ + stars: | 2023-08-10 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

The company will open its first commercial plant in September to supply luxury brands like Hermès. Fashion brands are investing in materials that don't use animals or plastic to meet climate goals. Many fashion brands have set climate goals and are searching for sustainable substitutes to animal- or plastic-based leather and other textiles with high carbon footprints. An Hermès bag made of MycoWorks' mycelium leather. She sees a luxury fashion house like Hermès as an ideal pioneer for alternative leather because the brand's status is based in part on scarcity.

Persons: MycoWorks, Matt Scullin, Coppie Barbieri, Scullin, Stella McCartney, Dan Widmaier, haven't, Anne Higonnet, Hermès, Birkin, Higonnet, Reishi, That's Organizations: Service, Ligne, General Motors, Adidas, Vogue Business, New York's Barnard College, Consumers Locations: Wall, Silicon, San Francisco, South Carolina

☆ Connecticut's sprawling Copper Beech Farm estate sells for a record-breaking $139 million — see inside
▼ + stars: | 2023-08-05 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +1 min

The estate once held the record for the country's most expensive home sale at $120 million in 2014. The property's seller is an LLC with ties to financier Ray Dalio, the Wall Street Journal reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The seller of Copper Beech Farm was The Conservation Institute LLC, a Connecticut company that has ties to hedge fund billionaire Ray Dalio, the Wall Street Journal reported. Sotheby's International Realty's Leslie McElwreath and Joseph Barbieri represented the seller and Stephanie Bo Li of Douglas Elliman represented the buyer.

Persons: Ray Dalio, Ken Griffin's, Leslie McElwreath, Joseph Barbieri, Stephanie Bo Li, Douglas Elliman Organizations: Wall Street Journal, Service, Conservation Institute Locations: Wall, Silicon, Greenwich , Connecticut, New York City, Connecticut

☆ Why Russia's defenses are so effective: Deep minefields, adaptable drones, and electronic warfare are proving formidable in Ukraine, experts say.
▼ + stars: | 2023-08-02 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +7 min

Russia's defenses are proving effective in frustrating the Ukrainian counteroffensive. Its use of mines, adaptable drones, and electronic warfare are particularly formidable, experts said. He said there were often more than four rows of minefields in front of the Russian defensive lines. A retired Australian general Mick Ryan appears to agree with Lewis, telling The Economist on Monday that Russia's defensive lines are "much more complex and deadly than anything experienced by any military in nearly 80 years." Justin Bronk, a senior research fellow with RUSI, told Newsweek that Ukraine's "Beaver" drones appear to be vulnerable to Russia's electronic defense systems.

Persons: Oleksandr Tarnavskyi, Maxar David Lewis, Mick Ryan, Lewis, it's, Steve Wright, Wright, ALEXANDER NEMENOV, Justin Bronk, RUSI, Russia doesn't, Mark Milley, Birmingham's Jaroslava Barbieri Organizations: Service, BBC, Royal United Services Institute, Storm, Ukrainian, Police, Moscow International Business, Getty Images, Newsweek, Moscow Sunday, Reuters, Associated Press, University, Birmingham's, Ukraine's Ministry of Defense Locations: Russia, Wall, Silicon, Ukraine, Russian, Kherson, Dnipro, Russia's, Australian, RUSI, AFP, Ukrainian, Kyiv

During her first day of meetings in Beijing, Treasury Secretary Janet L. Yellen criticized punitive measures the Chinese government has taken against American firms. I’ve made clear that the United States does not seek a wholesale separation of our economies. Ms. Yellen conveyed her objections to China’s top officials, including Premier Li Qiang, in what was the first visit to China by a Treasury secretary in four years. A Treasury Department official said Ms. Yellen had discussed the outlook for the economy in an informal discussion with her former counterparts that lasted more than an hour. “The United States will, in certain circumstances, need to pursue targeted actions to protect its national security,” Ms. Yellen said.

Persons: Janet L, Yellen, I’ve, Biden, Yellen’s, Li Qiang, Ms, “ I’ve, Mark Schiefelbein, Wang Yong, Wang, ”, Shi Yinhong, “, China’s, Michael Hart, “ We’ve, Mr, Hart, Liu He, Yi Gang, Li, Li’s, ” Claire Fu, Christopher Buckley Organizations: U.S, American Chamber of Commerce, Boeing, Bank of America, Cargill, Group, Bain & Company, Beijing, Biden, of, People, ., Center for American Studies, Peking University, “, Renmin University, U.S . State Department, Chamber of Commerce, Treasury, People’s Bank of China, Treasury Department Locations: Beijing, United States, China, American, Shanghai, U.S, States

☆ Who is winning the war in Ukraine? Experts break down the territorial, psychological, and military gains made by Putin and Zelenskyy.
▼ + stars: | 2023-06-19 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +8 min

Insider spoke to four experts about who they think is currently winning the war in Ukraine. But two experts told Insider this appears to be unattainable. "So territory-wise, I don't think Zelenskyy has budged on his objective of liberating all of the occupied territories," Miron told Insider. Photo by Getty ImagesMilitary victoryIt is difficult to analyze who is currently winning from a military standpoint because a lot of hinges on Ukraine's counteroffensive, all experts told Insider. John E. Herbst, who was the US ambassador to Ukraine from 2003 to 2006, told Insider that he believes that right now, the advantage lies with Ukraine.

Persons: —, Ukraine —, Vladimir Putin, Marina Miron, Volodymyr Zelenskyy's, Miron, David Lewis, Yasuyoshi Chiba, University of Birmingham's Jaroslava Barbieri, " Barbieri, Lewis, John E . Herbst, Bakhmut, Yevgeny Prigozhin, Wagner, Barbieri, Herbst, Putin Organizations: Service, Department of, King's College London, Institute for, Royal United Services Institute, Getty, Kyiv, University of Birmingham's, Getty Images, Washington Post, Ukraine Locations: Ukraine, Russia, Kyiv, Donetsk, Luhansk, Kherson, Zaporizhzhia, Crimea, Sloviansk, AFP, Ukrainian, Irpin, Bakhmut

☆ Russia's version of NATO is crumbling, with even some of its closest allies frustrated by Putin's failing war in Ukraine
▼ + stars: | 2023-05-09 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +11 min

CSTO, Russia's equivalent of NATO, was never a powerhouse, but relations have become more strained. And Frankopan said that countries had likely stopped trusting Russia's military abilities. Marin also said that CSTO members don't seem interested in taking big risks to protect the alliance's future. AP Photo/Felipe Dana, FileRussia a 'toxic partner'According to Frankopan, regional backlash to Russia's invasion of Ukraine could be happening for multiple reasons, including ideological objections to Russia's brutal tactics. Marin said the Ukraine invasion had made Russia a "rather toxic partner" to most of its post-Soviet neighbours.

☆ Italy's Treasury sets up new department for state-run companies
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

ROME, March 16 (Reuters) - Italy approved on Thursday a decree to create a new department at the economy ministry in charge of managing state-controlling companies such as energy groups Enel (ENEI.MI) and Eni . Economy Minister Giancarlo Giorgetti announced the scheme in January as part of efforts to tighten the government's grip on key companies dealing with some of the most delicate corporate issues facing Italy. Under the scheme, the influential Treasury department within the ministry, led by veteran economist Riccardo Barbieri, will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. The newly created "economic department" will have its own director general and will handle the decision-making process regarding state-controlled firms, public assets and public guarantees on banking loans. Rome is expected to decide on the chairperson and CEO positions of these firms by the end of next week, government sources said.

☆ A South American currency union? Don't hold your breath
▼ + stars: | 2023-01-23 | by ( Rodrigo Campos | ) www.reuters.com time to read: +4 min

That came after the leaders had touted a "common South American currency" on Sunday and officials told the Financial Times the tender could even be called the "sur" and eventually look to bring in other countries around South America. "It has failed to achieve simpler integration goals than that of a common currency." He called the idea of a currency union a "fantasy." Currency union talk was just a distraction, she said. Todd Martinez, a director at Fitch Ratings' sovereigns group focused on Latin America, said the two countries appeared to be unlikely partners to form a successful currency union, given their diverging economies.

☆ Italy set to appoint veteran economist Barbieri as new Treasury head
▼ + stars: | 2023-01-19 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +3 min

SummarySummary Companies Barbieri to replace Rivera, who failed to win over MeloniPrevious Treasury chiefs include former PM DraghiBureaucrats in Italy get substantial say in policy-makingROME, Jan 19 (Reuters) - Italy's government is set to appoint veteran economist Riccardo Barbieri as director general of the Treasury, replacing Alessandro Rivera in the influential position, the economy ministry said on Thursday. The move marks a victory for newly installed Prime Minister Giorgia Meloni, who was looking to remove Rivera and put her stamp on key positions. "A cosmopolitan former banker and chief economist, Barbieri is one of the Treasury senior officials who liaises more frequently with Brussels," said Francesco Galietti, head of political risk consultancy Policy Sonar. MPS is 64%-owned by the Treasury following a 2017 bailout that cost taxpayers 5.4 billion euros ($5.8 billion). Rivera spent much of his career within the economy ministry, specialised in the handling of banking and financial crises.

☆ Italian photo master Barbieri's fashion works on exhibit in Milan
▼ + stars: | 2022-11-28 | by ( Federico Maccioni | ) www.reuters.com time to read: +2 min

[1/11] A photo that portrays Czech-Italian model Eva Herzigova is seen at the exhibition "Unconventional”, a selection of unseen colour photographs by Italian fashion photographer Gian Paolo Barbieri, is seen in Milan, Italy, November 28, 2022. REUTERS/Flavio Lo ScalzoMILAN, Nov 28 (Reuters) - From exotic and colourful settings for Vogue Italia to model Eva Herzigova eating spaghetti, a new Milan exhibition looks at the previously undisplayed work of acclaimed Italian fashion photographer Gian Paolo Barbieri. Previously unseen works are also on display. Barbieri came to the fore of international fashion photography in the 1960s. "(Today) we see Gian Paolo in colours" and "it is beautiful to have such an artist still expressing his point of view today in Italy," added Italian Fashion Chamber President Carlo Capasa.

☆ Ukraine pushes allies for air defense help in the wake of deadly Russian strikes
▼ + stars: | 2022-10-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | Patrick Smith | ) www.nbcnews.com time to read: +5 min

German Defense Secretary Christine Lambrecht said Monday that her country would send four medium-range air defense systems to Ukraine, the first to be delivered in the next few days. “The renewed rocket fire on Kyiv and the many other cities makes it clear how important it is to deliver air defense systems to Ukraine quickly,” she said in a statement. Analysts said that if Ukraine had that help sooner, it could have saved lives and protected critical infrastructure and public services. We warn and hope that Washington and other Western capitals are aware of the danger of uncontrolled escalation,” he said. Kremlin spokesman Dmitry Peskov underlined this point in his daily press briefing, adding that Western supplies of advanced air defense systems would not change Russia’s goals and would only extend the conflict.

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