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☆ Opinion | Is the Internet the Enemy of Progress?
▼ + stars: | 2024-04-19 | by ( Ross Douthat | ) www.nytimes.com time to read: +5 min

But it’s 29 years old, written when the true internet era was still just a gleam in Al Gore’s eye. You could further argue that the passage predicted the Great Stagnation that Tyler Cowen identified in 2011, the productivity slowdown and disappointing economic growth that followed the initial 1990s-era internet boom. Writing for Quillette, he argues that globalization and homogenization have reduced cultural competition in roughly the way that the “Lost World” passage describes. It’s not just that we’re forgoing opportunities to improve our macro cultures. Shouldn’t we expect that macro cultures, when selection is weak, will drift into dysfunction just as firm cultures do?

Persons: Marc Andreessen, Michael Crichton’s, Crichton’s, Ian Malcolm, ” Malcolm, Al, John, Tyler Cowen, Malcolm, Crichton, Robin Hanson, It’s, Hanson, ” Organizations: Benetton, Western, George Mason University Locations: Bangkok, Tokyo, London, Al Gore’s, John Hammond’s, Davos, South Korea

☆ I'm Gen X, but sometimes I wish I wasn't. I admire Gen Z for speaking up in the workplace.
▼ + stars: | 2024-03-24 | by ( Hady Mendez | ) www.businessinsider.com time to read: +6 min

It's just that Gen Z has so much more going for it. Gen Z cares about a company's commitment to DEI — to the point that they'll decide where to work based on that investment. Gen Z demands what they need and want. Gen Z boldly leverages social media to record their #TechLayoffs, talk about #QuietQuitting, and encourage each other to #ActYourWage. I love the perspective Gen Z brings to the future of work and appreciate their thoughtful contributions.

Persons: It's, Meatloaf, Gen Z, pissing, Gen, —, Gen Zers, Gen X, I've, Roe, Wade, Millennials, I'm, Hady Mendez Organizations: Service, Benetton, Business, Latina Locations: Latina

☆ ‘If any country can do it, it’s Ireland’: How to make the NFL’s next overseas star
▼ + stars: | 2024-01-24 | by ( Rory Fleming | ) edition.cnn.com time to read: +9 min

It was so different to what we are used to coming from Gaelic football, apart from the weather which was pretty similar to Ireland. Members of the US Liffre Gaelic football team take part in a training session. From the analysis already done by the Gaelic star, he’s earmarked two current NFL kickers as sources of inspiration ahead of the Combine. Gaelic football is probably the main sport in Ireland. It’s one of the biggest opportunities in all of sport,” Beggan added.

Persons: Joe Biden, Tadhg Leader, “, they’ve, that’s, ” Tadhg, Rory Beggan, Mark Jackson, Charlie Smyth, Darragh Leader, Tadhg, I’m, it’s, ” Tadhg Leader, ”, Andrew Surma, ” Beggan, Damien Meyer, he’s, “ Justin Tucker, Brandon Aubrey, “ I’ve, ’, Dan Whelan, Beggan Organizations: CNN, Gaelic, NFL, CNN Sport, “, football, Panthers, IPP, Gaelic Athletic Association, ”, it’s, Guinness PRO14, Connacht Rugby, Benetton Rugby, Canadian Football League, Hamilton Tiger Cats, Loughborough University, Monaghan, New England Patriots, Patriots, Gaelic football, Getty, Baltimore Ravens, Dallas Cowboys, MLS, Croke, Green Bay Packers, Irish Locations: United States, Ireland, it’s Ireland, North America, Europe, trialists, Indianapolis, Boston, Beggan, Florida, Irish, Monaghan

☆ Fact-Checking Kremlin's Claim That More Foreign Companies Remain in Russia Than Have Left
▼ + stars: | 2023-12-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

AdvertisementAfter Russia invaded Ukraine in February 2022, over 1,000 foreign companies announced they would exit Russia in protest against the war. "More foreign companies remain in Russia than those who left the country," Dmitry Peskov, a spokesperson for the Kremlin, told Business Insider in late October. 1: Data from Yale UniversityYale University runs an ongoing study that examines which foreign companies have left Russia since the war began. Here are their results as of November 21:KSE's data shows that most foreign companies have not left Russia. Russia is making it difficult for foreign companies to exitMany companies still operating in Russia are also stuck in the process of exiting the market.

Persons: KSE, —, it's, haven't, Dmitry Peskov, Steven Tian, Tian, Agathe Demarais, Igor Lipsits Organizations: Kremlin, Yale, Service, BI, Yale University Yale University, Kyiv School of, Kyiv School of Economics, University of St, Yale's, Leadership Institute, BP, Benetton, Unilever, Nestlé, European Council, Foreign Relations, Financial Times Locations: Russia, Ukraine, Gallen, Switzerland, Ukrainian, Russian

☆ Blackstone, Macquarie deny ASPI sale report, pledge commitment
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Signage is seen outside the Blackstone Group headquarters in New York City, U.S., January 18, 2023. REUTERS/Jeenah Moon/File Photo/File Photo Acquire Licensing RightsMILAN, Nov 17 (Reuters) - Blackstone and Macquarie on Friday dismissed as "completely false" an Italian newspaper report about possible ownership changes at Autostrade per l'Italia (ASPI), pledging their commitment as investors in the motorway operator. Following the 2022 deal, ASPI is controlled by state-lender CDP with funds Blackstone (BX.N) and Australia's Macquarie (MQG.AX). Under JPMorgan's plan ASTM would transfer its assets to ASPI whose shareholders would be CDP, Gavio group and Blackstone. In denying the report, Macquarie said it was committed to the "ongoing delivery of ASPI's multi-billion euro investment programme".

Persons: JP Morgan, Italy's, ASPI, Australia's Macquarie, Macquarie, Blackstone, Matteo Salvini, Elisa Anzolin, Giuseppe Fonte, Valentina Za Organizations: Blackstone Group, REUTERS, Blackstone, La Stampa, ASTM, Benetton, Shareholders, Reuters, Thomson Locations: New York City, U.S, Macquarie, Ardian, Milan, Rome

☆ Wrexham's Hollywood owners join group buying into Alpine F1
▼ + stars: | 2023-06-26 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

LONDON, June 26 (Reuters) - Hollywood actors Ryan Reynolds and Rob McElhenney are joining Otro Capital and RedBird Capital Partners in an investor group taking a 24% equity stake in Alpine Racing, the Formula One team's parent company Renault announced on Monday. The 200 million euro ($218.10 million) deal values British-based Alpine Racing at around $900 million following the investment. Alec Scheiner, the co-founder and partner of Otro Capital, will join Alpine Racing's board of directors. Renault said Alpine Racing SAS, the French entity that makes the team's power units in Viry-Châtillon, will remain entirely owned by the carmaker. "Otro Capital, RedBird Capital Partners and Maximum Effort Investments, as international players with strong track record in the sports industry, will bring their recognised expertise to boost our media and marketing strategy, essential to support our sporting performance over the long term.

Persons: Ryan Reynolds, Rob McElhenney, Alec Scheiner, Reynolds, Michael B, Jordan, McElhenney, Renault, Huntsman, Goldman Sachs, Gerry Cardinale, RedBird, Laurent Rossi, Alan Baldwin, Peter Rutherford Organizations: Otro Capital, RedBird Capital Partners, Alpine Racing, Renault, Otro, Alpine, McElhenney, Wrexham, Welsh soccer, English Football League, Main Street Advisors, Fenway Sports Group, Premier League, Liverpool, Boston Red Sox baseball, Toulouse, AC Milan, New York Yankees, Formula, Benetton, Alpine Racing SAS, Thomson Locations: Alpine, Philadelphia, Wrexham, North America, Enstone, England, Viry

☆ Generali's No.3 investor Caltagirone withholds backing for 2022 accounts
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

MILAN, April 28 (Reuters) - Italian tycoon Francesco Gaetano Caltagirone, the third-largest investor in Generali (GASI.MI), on Friday withheld his approval for the insurer's 2022 accounts, two sources said, after attempting to bring about a management shake-up last year. They proposed an alternative candidate for the job but lost out in the April 2022 shareholder vote. During the AGM, Donnet said those results put Generali "in an excellent position" to achieve all the targets of its plan to 2024. In April last year, at the height of the shareholder clash, the 2021 accounts got around 85% of AGM votes. Italy's Benetton family, with a 4.8% stake, also challenged Donnet who had the support of Generali's top shareholder Mediobanca (MDBI.MI), which holds 13% of the insurer.

☆ Cellnex may flip from buyer to seller with new CEO
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 28 (Reuters Breakingviews) - Cellnex's (CLNX.MC) decision to pick former Telecom Italia (TLIT.MI) CEO Marco Patuano as its new boss increases the odds of seeing the 27 billion euro mobile phone tower operator returning to the M&A negotiating table – as a seller. The appointment ends months of boardroom infighting that culminated with the departure of former Chairman Bertrand Kan on April 4. He is a former CEO of the Benettons' holding company Edizione and previously led Telecom Italia between 2013 and 2016. His track record of carving out the former monopoly's mobile tower business INWIT may be significant. But while tackling the company's turnaround, Patuano may also be lured into takeover negotiations with heavyweight investors as industry consolidation is underway.

☆ Italy's Atlantia becomes Mundys, Blackstone ready to support M&A
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018. REUTERS/Alessandro BianchiMILAN, March 15 (Reuters) - Italy's Atlantia will change its name to Mundys, as it aims to become the biggest infrastructure group globally, co-owner Edizione's chairman Alessandro Benetton said on Wednesday. Last year, the Benetton family's holding company Edizione and U.S. investment fund Blackstone (BX.N) launched a buyout offer for Atlantia and took it private. Blackstone, together with Edizione, aim to strengthen Atlantia's leadership in the world of sustainable integrated mobility, said Andrea Valeri, chairman of Blackstone Italy. He added that Blackstone had committed to bringing additional capital to Atlantia, together with Edizione, if it were needed for future acquisitions.

☆ Cellnex takeover would disrupt key strategic pivot
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 20 (Reuters Breakingviews) - A week after founder Tobias Martinez resigned from his chief executive role, Cellnex (CLNX.MC) could also lose its shareholders. Meanwhile the departure of Martinez was expected to herald a return to sobriety in a sector where low interest rates and high leverage boosted consolidation. In the age of higher interest rates, it may be time for the former predator to become prey. Okdiario hints that Cellnex’s main shareholders, led by Italy’s Benetton family with an 8% stake, are inclined to sell. Everything has a price, but the high premium needed to convince shareholders to change tack amid a strategic pivot could be hard to justify.

☆ Atlantia exit highlights Milan's battle to retain market heavyweights
▼ + stars: | 2022-11-25 | by ( Elisa Anzolin | Hadeel Al Sayegh | ) www.reuters.com time to read: +4 min

snapshotFEW NEWCOMERSOn the plus side, four companies joined the main Euronext Milan market this year, including truckmaker Iveco (IVG.MI), which was the result of a spin off. The situation is healthier for Euronext Growth Milan itself, a market dedicated to small and medium-sized enterprises with minimum access requirements. Over the past 20 years, the main market has lost 268 listed companies and gained only 185, according to Intermonte research published in March. In contrast, the less regulated SME market has attracted 263 listed companies and seen 68 delistings. CULTURAL ISSUEThe fact that there are relatively few listed companies has its roots in the country's history, said Andrea Beltratti, professor of Political Economy at Milan's Bocconi University.

☆ Atlantia set to be delisted as buyout bid reaches 90% threshold
▼ + stars: | 2022-11-24 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +1 min

MILAN, Nov 24 (Reuters) - A buyout offer launched by the Benetton family and U.S. investment fund Blackstone (BX.N) for Italy's Atlantia (ATL.MI) has reached the 90% threshold for the deal to proceed and trigger the company's delisting, the bidders said on Thursday. The bid initially failed to reach the threshold but was then reopened for another five days and closes on Friday. The bidders' vehicle named Schema Alfa said in a statement the planned delisting would happen "as soon as possible in the following weeks". The enterprise value of the deal was around 54 billion euros ($56.32 billion) based on Atlantia's debt level at the end of last year. Atlantia shares closed at 22.95 euros on Wednesday, just below the 23 euros per share Schema Alfa is offering to pay.

☆ Atlantia's big investors tender shares in Benetton, Blackstone bid - sources
▼ + stars: | 2022-10-24 | by ( Tatiana Bautzer | Nupur Anand | ) www.reuters.com time to read: +1 min

A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018. REUTERS/Alessandro BianchiMILAN, Oct 24 (Reuters) - Atlantia's long-term investors, Singapore sovereign fund GIC and Italian banking foundation CRT, have tendered their shares in the takeover offer launched by the Benettons and U.S. investment fund Blackstone (BX.N), two sources close to the matter said on Monday. As of Friday, Italian bourse data showed the take-up had increased to 19.8% of the shares targeted by the offer, or around 13.2% of the group's capital. Atlantia's takeover bid will end on Nov. 11. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elisa Anzolin; editing by Agnieszka FlakOur Standards: The Thomson Reuters Trust Principles.

☆ Bank of Italy clears Benetton-Blackstone's bid for Atlantia
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

The logo of Italian infrastructure group Atlantia is seen outside its headquarters in Rome, Italy, October 5, 2020. REUTERS/Guglielmo Mangiapane/File PhotoMILAN, Sept 21 (Reuters) - The Bank of Italy has cleared a multi-billion euro buyout bid for infrastructure group Atlantia (ATL.MI) proposed by the Benetton family and U.S. fund Blackstone , the two bidders said in a statement on Wednesday. read moreThe bid heralds a new phase for Atlantia which sold its domestic motorway unit earlier this year to draw a line under a political dispute sparked by a deadly bridge collapse in 2018. The Benetton family, which already owns 33% of Atlantia, and Blackstone need to get the final go ahead from Italy's market watchdog Consob before they can launch the bid on the stock market. The proposed bid needed Bank of Italy's greenlight because the central bank oversees some activities of Atlantia's digital toll payment unit Telepass.

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