DIRS.INFO The most relevant business & tech news

☆ Mediobanca CEO and allies keep grip on bank after shareholder vote
▼ + stars: | 2023-10-28 | by ( Gianluca Semeraro | ) www.reuters.com time to read: +3 min

Mediobanca CEO Alberto Nagel poses for a photograph in the occasion of a news conference to present Mediobanca's new business plan in Milan, Italy, November 12, 2019. Under Nagel, Mediobanca has moved away from its historic role as a financial holding company and boosted its wealth management and consumer credit operations, also through acquisitions. But his strategy had come in for criticism, initially from the late Leonardo Del Vecchio, whose holding company Delfin has a 19.7% stake in Mediobanca. The Delfin list took 32% of the total capital in the vote. A small group of institutional investors who had filed a third list took the remaining seat.

Persons: Alberto Nagel, Flavio Lo Scalzo, Delfin, Nagel, Pagliaro, Mediobanca, Leonardo Del Vecchio, Renato Pagliaro, Del Vecchio's, Francesco Milleri, Delfin's, Gianluca Semeraro, Keith Weir Organizations: REUTERS, Companies, MILAN, Thomson Locations: Milan, Italy, Mediobanca, Generali

☆ Mediobanca posts record profit ahead of vote on new board
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

A logo of Mediobanca is pictured at Mediobanca headquarters in Milan, Italy, November 12, 2019. REUTERS/Flavio Lo Scalzo/File Photo Acquire Licensing RightsMILAN, Oct 26 (Reuters) - Mediobanca (MDBI.MI) posted its best-ever quarterly profit on Thursday, ahead of a key shareholder vote to name the Italian bank's new board and hand Chief Executive Alberto Nagel a new three-year mandate. Net profit rose 34% year-on-year to 351 million euros ($370 million) in the three months through September, beating a bank-provided analyst consensus of 315 million euros, thanks to contributions from wealth management and insurance. Del Vecchio, who died last year at the age of 87, had criticised Nagel for failing to grow the investment bank's business decisively and hampering expansion at insurer Generali (GASI.MI), in which Mediobanca is the main shareholder. ($1 = 0.9489 euros)Reporting by Gianluca Semeraro; editing by Alvise Armellini and Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

Persons: Flavio Lo Scalzo, Alberto Nagel, Revenues, Mediobanca, Delfin, Leonardo Del Vecchio, Del Vecchio, Nagel, Gianluca Semeraro, Alvise Armellini, Valentina Za Organizations: REUTERS, Thomson Locations: Milan, Italy, Italian, Del

☆ Two U.S. funds to vote Mediobanca outgoing board's slate for board renewal
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 19 (Reuters) - The U.S. funds CalSTRS and New York City Comptroller said on Thursday they would vote in favour of the outgoing board's slate of nominees for the new Mediobanca board at the bank's annual meeting this month. Mediobanca's outgoing board has proposed 15 members, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro ahead of the Oct. 28 meeting. The two funds did not disclose their stakes in Mediobanca. Proxy adviser Institutional Shareholder Services (ISS), Glass Lewis and Pensions & Investment Research Consultants (PIRC) said last week they were recommending Mediobanca investors vote in favour of the outgoing board's slate of nominees. Reporting by Gianluca Semeraro editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Persons: Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Glass Lewis, Gianluca Semeraro, Keith Weir Organizations: MILAN, New York, Services, Pensions & Investment Research Consultants, Thomson Locations: U.S, New, Mediobanca, Italian

☆ Proxy adviser Glass Lewis backs Mediobanca outgoing board's slate for board renewal
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 13 (Reuters) - Proxy adviser Glass Lewis said on Friday it was recommending that investors in Italian bank Mediobanca (MDBI.MI) vote in favour of the outgoing board's slate of nominees for the new board. The board is elected for a three-year term, and the current one expires on Oct. 28, when Mediobanca shareholders will vote on its renewal, including the chief executive. Mediobanca's outgoing board has proposed 15 members, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro. On Wednesday, proxy adviser Institutional Shareholder Services (ISS) said it was recommending that Mediobanca investors vote in favour of the outgoing board's slate of nominees. Reporting by Gianluca Semeraro; editing by Gavin Jones and Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Glass Lewis, Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Gianluca Semeraro, Gavin Jones, Kirsten Donovan Organizations: MILAN, Services, Thomson Locations: Italian

☆ Proxy adviser ISS backs Mediobanca's outgoing board slate for board renewal
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

MILAN, Oct 11 (Reuters) - Proxy adviser Institutional Shareholder Services (ISS) said on Wednesday it was recommending that Mediobanca (MDBI.MI) investors vote in favour of the outgoing board's slate of nominees for the Italian bank's new board. The bank's board is elected for a three-year term and the current term expires on Oct. 28, when Mediobanca shareholders will vote on the renewal of the board, including the chief executive. Mediobanca's outgoing board has proposed 15 members for the full board, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro. Mediobanca's outgoing board's slate of nominees "is adequately positioned to represent the long-term interests of institutional investors and carry out an effective oversight of the management's action", ISS said in a report. The current board has the support of a group of Italian investors, representing a combined 10.9% stake.

Persons: Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Francesco Gaetano Caltagirone, Gianluca Semeraro, Leslie Adler Organizations: MILAN, Services, Thomson Locations: Italian

☆ Victor Osimhen: Napoli ‘never intended to offend of make fun of’ striker with TikTok video
▼ + stars: | 2023-09-29 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Italian soccer club Napoli has said that it “never intended to offend or make fun of” star player Victor Osimhen after coming under fire for posting – and then deleting – a video of the striker missing a penalty on TikTok. “To avoid any potential exploitation of the matter, SSC Napoli would like to explicitly state that the club never intended to offend or make fun of Victor Osimhen, who is an asset to the club,” Napoli said in Thursday’s statement. “Over the course of the summer Napoli rejected all offers to sign the striker – firm proof of the club’s appreciation of him. “A video mocking Victor was first made public and then, but now belatedly, deleted. Osimhen scored in Napoli’s match against Udinese but celebrated in muted fashion before embracing his teammates.

Persons: “, Victor Osimhen, ”, –, Osimhen, ” Napoli, Victor, Roberto Calenda, Calenda, Gennaro Del Vecchio, Giuseppe Santoro Organizations: CNN, Napoli, Nigeria international Osimhen, Serie, Bologna, SSC Napoli, Udinese, Wednesday, Lecce Locations: Italian, Nigeria

☆ Group of Italian investors in Mediobanca backs new term for CEO Nagel
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

MILAN, Sept 25 (Reuters) - A group of Italian investors with a combined 10.9% stake in Mediobanca (MDBI.MI) will vote to give Chief Executive Alberto Nagel a new term at a shareholders' meeting on Oct. 28, one of the group's members said on Monday. The bank's board is elected for a three-year term and the current term expires on Oct. 28 when Mediobanca shareholders will vote on renewing the board, including the CEO. The group of investors, who in 2018 signed a consultation agreement on the most important issues regarding the bank, met on Monday. Another member of the group, who did not wish to be identified, said all members of the group would vote to keep Nagel as CEO. Nagel has so far enjoyed the support of institutional investors who collectively account for 45% of the bank's capital.

Persons: Alberto Nagel, Nagel, Del, Delfin, Francesco Gaetano Caltagirone, Mediobanca's, Renato Pagliaro, Angelo Caso, Pagliaro, Gianluca Semeraro, Susan Fenton Organizations: Banca Mediolanum, Delfin, Thomson Locations: Mediobanca

☆ Bond investors show confidence in Schwab after cost-cutting
▼ + stars: | 2023-08-23 | by ( Matt Tracy | ) www.reuters.com time to read: +3 min

The company logo for Financial broker Charles Schwab is displayed at a location in the financial district in New York, U.S., March 20, 2023. The announcement led to a 5% fall in Schwab shares on Tuesday but did not hurt investor appetite for its new bonds. "The strong response shows bond investors, at least in the near term, have gotten over their worries about the credit fundamentals of top-tier regional banks after the banking crisis in March," said Richard Wolff, head of U.S. syndicate at Societe Generale (SOGN.PA). Schwab's bond trade also drew attention as new investment grade bond supply this month has so far been lower than expected. Counting Schwab's $2.35 billion in bonds, investment-grade bond volume sits at just $3.45 billion for the week and $67.1 billion so far in August, according to Informa Global Markets data.

Persons: Charles Schwab, Brendan McDermid, Schwab, Richard Wolff, Dan Krieter, Brian Mulberry, David Del Vecchio, Natalie Trevithick, Matt Tracy, Nupur Anand, Shankar Ramakrishnan, Sonali Paul Organizations: REUTERS, Societe Generale, BMO Capital, Zacks Investment Management, Federal Home Loan Bank, Payden, Informa, Thomson Locations: New York, U.S, Los Angeles

☆ Highly trained dogs take on mission of finding Hawaii fire victims
▼ + stars: | 2023-08-16 | by ( Brad Brooks | ) www.reuters.com time to read: +4 min

Dogs that will work fire scenes are trained to detect burnt flesh - and can distinguish human remains from those of pets and other animals. Just as teaching hospitals to use cadavers to teach medical students, Cablk said, trainers use human flesh and blood to train dogs. Some countries don't allow human remains in such training, and in those places dogs are taught using animal remains, making rescues more difficult. Cadaver dogs are trained to associate the scent of human remains with a reward, typically a chew toy, Cablk said. "That's the dog's paycheck," Cablk said.

Persons: Dominick Del Vecchio, Mary Cablk, Cablk, Jeremy Greenberg, Greenberg, Brad Brooks, Donna Bryson, Stephen Coates Organizations: FEMA, Rescue, Task Force, Nevada Task Force, REUTERS, Acquire, Desert Research Institute, Federal Emergency Management, Thomson Locations: Nevada, Maui, Lahaina , Hawaii, U.S, California, , California, Longmont , Colorado

☆ Maui wildfires: At least 106 were killed and identifying all of them will be difficult, officials say
▼ + stars: | 2023-08-16 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +7 min

Only five of the 106 dead had been identified as of Tuesday afternoon, according to Maui County officials. Family members of missing people had provided 41 DNA samples, trying to see whether their loves ones are among the dead, county officials said. Green told CNN Tuesday he hopes “much of it will be done” by the weekend. Dominick Del Vecchio/Reuters• Some victims are named: Robert Dyckman, 74, and Buddy Jantoc, 79, both of Lahaina, were killed, Maui County officials said Tuesday. Hawaii’s attorney general will spearhead a review of decisions that officials made in response to the wildfires, her office has said.

Persons: Hawaii’s, Josh Green, Green, “ We’re, “, we’re, ”, Jonathan Greene, Dominick Del Vecchio, Robert Dyckman, Buddy Jantoc, we’ll, who’s, ” Green, • Biden, Biden, Dang, ” Dang, CNN’s Erin Burnett, Kula, Ross Hart, Maui’s upcountry, Hart, ” Hart, CNN they’ve, Jace Kennedy Organizations: CNN, Hawaii Gov, Authorities, US Department of Health, Human Services, FEMA, Reuters, •, Lahaina’s Locations: Maui, Hawaii, Maui County, Lahaina, Lahaina , Hawaii, •, Upper Kula, upcountry, Kula, Maui’s

☆ Italy’s hottest financial saga gets new twist
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

MILAN, July 3 (Reuters Breakingviews) - Italy’s most gripping corporate soap opera has entered a new chapter. Delfin, the holding company of the family of late eyewear billionaire Leonardo Del Vecchio, won regulatory approval to raise its stake in Assicurazioni Generali (GASI.MI) above its current holding of about 10%. The saga also involved a failed attempt by a broader anti-Mediobanca coalition to replace Generali CEO Philippe Donnet last year, but seemed to quiet down after Del Vecchio passed away in June 2022. Despite the market rally, there is no sign that the Del Vecchio clan wants to increase its Generali presence right now. The family could nonetheless still increase its bet at some point in the future, but the next Generali plot twist may take time to materialise.

Persons: Delfin, Leonardo Del Vecchio, Assicurazioni, Del Vecchio, Philippe Donnet, Lisa Jucca, Liam Proud, Oliver Taslic Organizations: MILAN, Reuters, Delfin, Del, Twitter, KKR, Thomson Locations: Mediobanca, Generali, China

☆ 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.

☆ US companies rush to issue corporate debt, busiest February ever
▼ + stars: | 2023-02-28 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

Companies have been rushing to issue bonds as yields spiked to touch new highs with the Federal Reserve looking to keep interest rates higher for longer. The average yield on U.S. investment grade bonds rose to 5.55% on Monday from just 4.94% on Feb. 1. "There's much more yield now to be had in corporates," said David del Vecchio, co-head of the U.S. investment grade corporate bond team at PGIM Fixed Income. Investors still had plenty of cash, despite the flurry of issuance, said Blair Shwedo, head of IG corporate bond trading at U.S. Bank. "With more volatility, you may see some short term negative returns but overall, we’re well positioned to have a very nice positive total return in investment grade credit in 2023," said Natalie Trevithick, head of investment grade credit strategy at investment management firm Payden & Rygel.

☆ Final farewell: From Sidney Poitier to Pope Emeritus Benedict a look back at the influential figures who died in 2022
▼ + stars: | 2023-01-01 | by ( Associated Press | ) www.nbcnews.com time to read: +55 min

Other world leaders who died in 2022 include former Soviet leader Mikhail Gorbachev, who died in August. The final days of 2022 saw the loss of some exceptionally notable figures, including Pope Emeritus Benedict XVI. Here is a roll call of some influential figures who died in 2022 (cause of death cited for younger people, if available):___JANUARY___Dan Reeves, 77. A Cuban-born artist whose radiant color palette and geometric paintings were overlooked for decades before the art world took notice. A prolific character actor best known for playing villains and tough guys in “The Manchurian Candidate,” “Ocean’s Eleven” and other films.

Search resuls for: "Del Vecchio"

14 mentions found