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Monte dei Paschi to send ECB plan to plug capital shortfall by January 31
  + stars: | 2020-12-03 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
MILAN (Reuters) - Italian state-owned bank Monte dei Paschi di Siena (MPS) said on Thursday it would tell the European Central Bank by the end of January how it plans to tackle its capital shortfall. FILE PHOTO: The entrance of Monte dei Paschi bank in Siena, Italy, October 27, 2017. The project faces opposition from the co-ruling 5-Star Movement which backs instead the stand-alone plan MPS CEO Guido Bastianini has been working on. However, negotiations may be delayed now that UniCredit CEO Jean Pierre Mustier has resigned after clashing with the bank’s board over strategy. People involved in the discussions said Treasury’s talks could still continue, but one source said the current UniCredit board may be reluctant to take strategic decisions just before its mandate ends in April.
Persons: Stefano Rellandini, Guido Bastianini, Bastianini, Marco Morelli, Jean Pierre Mustier, Treasury’s, Mustier Organizations: MILAN, Monte, European Central Bank, REUTERS, Italy’s Treasury, MPS, Treasury, UniCredit, Reuters, Wednesday Rome Locations: Siena, Monte dei, Italy, Rome
NEW YORK (Reuters) - A federal appeals court in Manhattan on Thursday appeared skeptical of arguments by four Democratic-leaning U.S. states to overturn Republican President Donald Trump’s decision to cap federal deductions for state and local taxes. That law, known as the SALT cap, was part of the $1.5 trillion tax overhaul signed by Trump in 2017 following approval on a party-line vote from the Republican-controlled Congress. The cap disproportionately affects high-tax states, with New York estimating its taxpayers would pay $121 billion of extra federal taxes from 2018 to 2025. Lawyers for the Trump administration said the SALT cap did not target particular states. U.S. District Judge Paul Oetken in Manhattan refused to block the SALT cap in Sept. 2019.
Persons: Donald Trump’s, Joe Biden, Andrew Cuomo, Raymond Lohier, ” Caroline Olsen, Trump, Jean, David Barnea, Paul Oetken Organizations: YORK, Democratic, Republican, U.S, Circuit, Trump, New, Senate, , District, 2nd U.S Locations: Manhattan, New York , Connecticut, Maryland, New Jersey, New York, 2nd
BRUSSELS/PARIS/ANKARA (Reuters) - U.S. Secretary of State Mike Pompeo used his final NATO meeting this week to sharply criticise Turkey, saying its purchase of a Russian weapons system was “a gift” to Moscow, according to five diplomats and officials. FILE PHOTO: U.S. Secretary of State Mike Pompeo speaks to the media prior to meeting with Kuwait's Foreign Minister in Washington, D.C., U.S., November 24, 2020. The meeting tone was described as “measured” but “more confrontational” than is usually the case at NATO. “We had to purchase (a weapons system) from Russia because we could not from our allies,” he added. Turkish sources with knowledge of the meeting said that Pompeo made “unjust accusations” and that were was no united front against Turkey.
Persons: Mike Pompeo, Saul Loeb, Pompeo, Pompeo’s, Donald Trump’s, Mevlut Cavusoglu, , Jean, Yves Le Drian, Turkey’s Cavusoglu, , Jens Stoltenberg, Emmanuel Macron, Stoltenberg Organizations: NATO, Kuwait's, Washington , D.C, REUTERS, Turkish, U.S . Defense Department, U.S, Union Locations: BRUSSELS, PARIS, ANKARA, Turkey, Russian, Moscow, Washington ,, Greece, Cyprus, U.S, Syria, Libya, Nagorno, Karabakh, France, Luxembourg, United States, Russia
The results have not been pretty, as teachers, students and parents across the country can attest. This new vantage point reveals that a redesign of traditional classroom instruction is long overdue. We have known for decades that traditional teacher-centered classroom instruction is not producing enough of the independent, self-motivated learners we envision for the future. Thanks to these thought leaders, practices rooted in student-centered learning are reaching broader networks of educators. Public schools, especially those in under-resourced urban and rural districts, face major hurdles in creating the conditions for student-centered learning.
Persons: crave, John Dewey, they're, Jean Piaget, Lev Vygotsky, Jerome Bruner, Bill, Melinda Gates Organizations: Melinda Gates Foundation, Teachers
LONDON (Reuters) - For Big Oil, coffee and chocolate could be the new black gold. Europe’s big oil firms, however, have another card to play: their vast global networks of filling stations. While the so-called marketing operations of big oil firms - retail sales of fuel, lubricants, groceries and TV dinners - usually contribute a smaller slice of profits than oil and gas production, they typically have higher margins. Total’s Chief Financial Officer Jean-Pierre Sbraire told investors in October that retail sales in Europe were back at pre-pandemic levels in the third quarter, even though fuel sales remained very weak. “Retail is the only thing in the oil and gas value chain that gets you closer to the customer.
Persons: Regis, Huibert, , Emma Delaney, Jean, Pierre Sbraire, Delaney, BP’s, Shell, Vigeveno, Mirko Rubeis, ” Delaney, Spencer, Jamie Oliver, Uber, Shell’s Vigeveno, , Boston Consulting Group’s, ” Rubeis Organizations: REUTERS, Royal, Shell, EV, Shell . U.S, Walmart, BP, Reuters, Boston Consulting Group, Tesco, Boston Consulting Locations: Latresne, Bordeaux, France, Europe, Shell ., , China, Britain, British, United States, Carrefour
Scott Lynn is the founder and CEO of Masterworks, an art investment company that gives people the opportunity to invest in art who might otherwise priced out of the art market. In an interview with Business Insider, Lynn explains why Basquiat paintings are so expensive, gives tips for people looking to enter the art world, and breaks down how Masterworks actually works. Masterworks has figured out a way to break down those barriers, and it sells artwork in shares, like stocks, making the art market a game anyone can play. "I think we're getting really good adoption from everyone that's a very small investor to even larger investors, that have wanted to invest in art but haven't really been comfortable collecting by going into galleries and interacting with the art world," Lynn said. Lynn took Business Insider inside Masterworks, while explaining just why Basquiat goes for so much.
Persons: Scott Lynn, Claude Monet, Andy Warhol, Jackson Pollock, Lynn, Jean, Michel Basquiat's, Basquiat, Michel Basquiat, Yusaku Maezawa, Jeffrey Deitch, Francis Bacon, Pablo Picasso Organizations: Masterworks, Business, New York Times
Breakingviews - Cox: Mediobanca could be UniCredit’s white knight
  + stars: | 2020-12-02 | by ( Rob Cox | ) www.reuters.com + 0.00   time to read: +6 min
ZURICH (Reuters Breakingviews) - Enrico Cuccia founded Mediobanca after World War Two as a bulwark for Italian capitalism against the confiscatory hands of an increasingly meddlesome government. A logo of Mediobanca is pictured at Mediobanca headquarters in Milan, Italy, November 12, 2019. Now that Mustier has gone, investors have concluded UniCredit will inevitably do Rome’s bidding and decimated its stock price. Mediobanca would likely need shareholder approval to issue a flood of new stock to UniCredit shareholders. For UniCredit, though, Mediobanca could be a kind of white knight, freeing the board from a shotgun marriage, brokered by Rome, with Monte Paschi and its concomitant black hole of legal liabilities and non-performing loans.
Persons: Enrico Cuccia, UniCredit, Jean Pierre Mustier didn’t, Intesa, Carlo Messina, Palazzo Chigi, Giuseppe Conte, Monte Paschi, Mustier, Mediobanca, Alberto Nagel, Nagel, There’s, Pier Carlo Padoan, Rome, Leonardo Del Vecchio, isn’t, Cuccia, Monte Organizations: Reuters, Bank of Italy, Treasury, Banca Monte dei, Intesa’s, Compass, Mustier, La Scala Locations: ZURICH, Rome, Milan, Italy, Siena, Monte, UniCredit, Paris, Germany, Austria, Europe, Montedison, Monte Paschi
The ‘Oprah of China’ Wants $28 Million for Manhattan Townhouse
  + stars: | 2020-12-02 | by ( Katherine Clarke | ) www.wsj.com sentiment -0.77   time to read: +1 min
Yue-Sai Kan—a television and beauty magnate whose fame in Asia has earned her the moniker the “Oprah of China”—is listing her Manhattan townhouse for $28 million. Located in the Sutton Place area, which has been home to residents like Anne Vanderbilt, Aristotle Onassis and architect I.M. Pei, the townhouse is one of 14 that share a private garden overlooking the East River. It is steps from the official residence of the U.N. secretary-general, an elaborate double-wide townhouse built in 1921 for Anne Morgan, the daughter of J.P. Morgan . She sought out the neighborhood when she returned to Manhattan and found that there was a home for sale.
Persons: Sai Kan, Anne Vanderbilt, Aristotle Onassis, I.M, Pei, Peter Sprague, Aston Martin, Jean Stein, Anne Morgan, J.P, Morgan, Kofi Annan, Boutros Boutros, Ghali, Kan Organizations: National Semiconductor Locations: Asia, China, Manhattan, Sutton, Roosevelt Island
Barry Gibb Has a Mission: ‘Keep the Music Alive’
  + stars: | 2020-12-02 | by ( Alex Pappademas | ) www.nytimes.com + 0.94   time to read: +1 min
Gibb doesn’t expect to conquer the pop charts again; making more records like this duets one would be enough. I don’t even have a white suit anymore.”But he’s lived long enough to see the conversation change around his music. The Bee Gees are singing in a fern-filled recording studio, backed by a string section. Barry Gibb has not seen these videos. But he’s watched a few clips of young people covering Bee Gees songs like “How Deep is Your Love” online, and some of them aren’t half bad.
Persons: Gibb, , “ I’ll, I’ve, he’s, Wyclef Jean, they’re, Barry Gibb, That’s Organizations: Bee
Enter the Justice Department, which in a court document released on Tuesday acknowledged a probe into an alleged presidential pardon "bribery conspiracy scheme." President-elect Joe Biden has expressed a desire to move beyond the Trump era, but the Department of Justice and officials in New York state may have other plans. All the while, Trump has denied wrongdoing, and he remained typically defiant Tuesday as news of a federal pardon probe broke. The White House and Justice Department did not respond Wednesday to requests for comment. Meanwhile, the Justice Department, led by Attorney General Bill Barr, has also taken recent action that favors Trump.
Persons: Joe Biden, Donald Trump's, Biden, ensnaring Trump, Trump, Alan Dershowitz, Donald Trump, US Department of Justice —, Mary McCord, Obama, Ann Ravel, , Nate McMurray, Donald Trump Jr, Demetrius Freeman, Michael Cohen, SDNY, Rudy Giuliani, Hunter —, Trump's, Mueller, Roger Stone, Michael Flynn, Andrew Weissmann, Weissmann, Brad Parscale, Mike Pence, Bill Barr, John Durham, Jean Carroll, McCord, it'd, they'd, Letitia James, Kathy Willens, Manhattan Cyrus Vance, Adam Parkhomenko, Hillary Clinton's, Nomiki Konst, Max Steele, James, Dershowitz Organizations: Justice Department, White, New, Trump, US Department of Justice, Trump White, DOJ, Biden, Democratic, Department of Justice, Washington, Getty, Southern, of, Representatives, Internal Revenue, District of Columbia, Trump International Hotel, MSNBC, FEC, Justice, Georgetown University Law Center's Institute, Constitutional, York, Associated Press New, Trump Organization, Attorney, Democratic National Committee's, PAC, American Locations: New York, America, of New York, Ukrainian, Maryland, Washington, Associated Press New York, Washington ,, New York City
Prominent civil rights advocates say they haven't been consulted about key cabinet picks and are frustrated they haven't met with Biden since the election. On Tuesday, Biden rolled out his economic team, which includes one Black man, one Black woman and one Indian-American woman. But the leaders of some civil rights group remain concerned they're not being consulted. “Civil rights leaders in this country should be on par if not more than other constituency groups he has met with." Instead, civil rights leaders say they have been reaching out on their own to the transition to try to make their input heard.
Persons: WASHINGTON, Joe Biden’s, haven't, Biden, , Marc Morial, ” Biden, Sen, Kamala Harris, Alejandro Mayorkas, Janet Yellen, Linda Thomas, Greenfield, Cedric Richmond, , haven’t, Derrick Johnson, Johnson, Tom Vilsack, Rahm Emanuel, Marcia Fudge, Adeyemo, Cecilia Rouse, Ashley Etienne, Karine Jean, Pierre, Symone Sanders, Al Sharpton, “ We’re, Morial, Harris, Jamal Brown, Arisha Hatch, ” Hatch Organizations: National Urban League, of Homeland Security, United Nations, Democratic, House, NAACP, , Chicago, of Economic Advisers, West Wing, MSNBC, Department of Labor, NAACP Legal Defense Fund, titans, Urban League, Biden, Department of Treasury, “ Black Locations: American, Georgia, Ohio, Michigan, Pennsylvania, Wisconsin, Trump
For Yazdan Yazdanpanah, a member of the Scientific Council, an independent advisory body consulted by the government, the experience showed the scientific community needed to work harder to make itself heard. The first lockdown had ended in May, cases were down sharply, and the country’s nearly 200,000 bars, restaurants and cafes were buzzing. The Scientific Council had warned officials to expect a resurgence of infections. On the agenda: the possible closure of all restaurants, bars and cafes across France, one person present told Reuters. In the high-stakes contest with France’s restaurant and café industry, scientists had been at a disadvantage, said Yazdanpanah, the Scientific Council member.
Persons: Francoise ”, Nicolas Sarkozy, Francois Hollande, crepes suzette, Pascal Mousset, Francoise, Charles Platiau, don’t, , texted, Alain Griset, Mousset, Griset, Chez Francoise, ” Griset, It’s, Restaurateurs, , Julien Borowczyk, Didier Lepelletier, Emmanuel Macron, Olivier Veran, Macron, Veran, Stephane Manigold, Jacques Bally, Philippe Etchebest, Gordon Ramsay, Alain Ducasse, Manigold, Bruno Le Maire, Le Maire, ” Manigold, ” Le Maire’s, Le Maire’s, “ Chez Francoise ”, Jean Castex, France’s, Yazdanpanah, “ We’re Organizations: PARIS, Reuters, REUTERS, Chez, Scientific Council, , Organisation for Economic Cooperation, Development, European Union, Eurostat, Scientific, U.S . government’s, for Disease Control, High Council, Public Health, CDC, Health, Vogue, Industry, Council, High Locations: Paris, France, Europe, U.S, Marseille, Bordeaux, Iran, Dorchester, WhatsApp
UniCredit shares sink at open after CEO says to step down
  + stars: | 2020-12-01 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: Unicredit bank logo is seen in the old city centre of Siena, Italy June 29, 2017. UniCredit announced late on Monday Chairman elect Pier Carlo Padoan and the board would start looking for a replacement. News of Mustier’s departure comes on the backdrop of quickening consolidation in Italian banking, where the Treasury is looking for a buyer for bailed-out bank Monte dei Paschi. Shares in the Tuscan bank surged 6% on speculation Mustier’s exit could facilitate a deal. “We believe the market will see him leaving as a key risk for UniCredit’s role in Italian consolidation, at the expense of capital return/risk profile.”
Persons: Stefano Rellandini MILAN, Italy’s UniCredit, Jean Pierre Mustier, UniCredit, Pier Carlo Padoan, “ Mustier, , Organizations: REUTERS, ” Citi Locations: Siena, Italy, Italy’s, dei
FILE PHOTO: Unicredit bank logo is seen in the old city centre of Siena, Italy June 29, 2017. Mustier, 59, ruled out mergers and acquisitions, setting him at odds with the consolidation fever sweeping Italy’s fragmented banking sector. By 1226 GMT, shares in UniCredit were down 7.2% while shares in MPS rose 4.1% on speculation that Mustier’s exit could facilitate a deal. Piling pressure on Mustier, Intesa Sanpaolo overtook UniCredit in the summer as Italy’s No. Graphic: UniCredit shares here
Persons: Jean Pierre Mustier, Stefano Rellandini, UniCredit, Pier Carlo Padoan, David Moss, Mustier, ” Mustier, Intesa Sanpaolo, JP Morgan, Antonio Horta, Osorio, Charlie Nunn Organizations: MILAN, REUTERS, MPS, BMO GAM, UniCredit, HSBC, Credit Suisse, UBS, ING, Commerzbank, Lloyds Locations: Siena, Italy, France, Italian, UniCredit, Rome, Portuguese
European shares rise on vaccine hopes; Brexit talks eyed
  + stars: | 2020-12-01 | by ( Susan Mathew | ) www.reuters.com sentiment -0.98   time to read: +2 min
(Reuters) - European shares on Tuesday made a positive start to the month following record-breaking gains in November, with optimism around a coronavirus vaccine strengthening the case for an economic recovery. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 25, 2020. REUTERS/StaffAfter a day’s dip, when investors took some profits, the pan-European STOXX 600 index was back in the black, up 0.8%. However, Stanhope Capital’s Chief Investment Officer Jonathan Bell warned it may be difficult to keep up November’s rally, given how high valuations are. UK’s Brexit supremo, Michael Gove said on Tuesday talks are still stuck on fishing, governance rules and dispute resolution.
Persons: Stanhope, Jonathan Bell, there’ll, ” Bell, lockdowns, Bell, UK’s Brexit, Michael Gove, Jean Pierre Mustier Organizations: Reuters, REUTERS, Staff, European Union, Central, Ipsen SA, Unicredit SpA Locations: Frankfurt, Germany, coronavirus, France, Italy, China, European, Britain, EU
Bank Mergers Are No Panacea
  + stars: | 2020-12-01 | by ( Rochelle Toplensky | ) www.wsj.com sentiment -0.99   time to read: 1 min
Bankers love to think about mergers, but they aren’t a simple solution to the problems of Europe’s lenders, even within the same country. UniCredit shares plunged Tuesday after Chief Executive Jean Pierre Mustier said he was stepping down over a disagreement about the strategic direction of Italy’s second-largest bank. A widely respected figure, Mr. Mustier had pushed back against board pressure to do deals, favoring capital returns to shareholders.
Persons: Jean Pierre Mustier, Mustier
The film follows Santa, played by Mel Gibson; Mrs. Claus, played by Marianne Jean-Baptiste; and a hit man, played by Walton Goggins. It's a movie made by people who seem never to have met a person or seen a movie — a Santa suit filled only with padding. "Fatman" doesn't have these. There are ways to show a commitment to change the systems of prejudice in which you've participated; Gibson doesn't appear dedicated to any of them. There are certainly ways to demonstrate a commitment to change the systems of prejudice in which you've participated and from which you've benefited; Gibson doesn't appear dedicated to any of them.
Persons: it's, Eshom Nelms, Ian Nelms, Mel Gibson, Claus, Marianne Jean, Baptiste, Walton Goggins, Goggins, Billy Wenan, Hurstfield, Skinny, didn't, we're, Chris Cringle, grandpa, Mel, Gibson, grizzled, Santa Claus, It's, you've, he'll, Sam Peckinpah's, Picasso, Gibson —, he's, Organizations: Pentagon, Globe, BAFTA, Hollywood, Warner Bros Locations: Santa Claus, It's, Hollywood
UniCredit CEO steps down in clash with board
  + stars: | 2020-12-01 | by ( ) www.cnbc.com + 0.00   time to read: +3 min
A pedestrian wearing a protective face mask walks in front of a UniCredit SpA bank branch in Milan, Italy, on Thursday, Sept. 3, 2020. Italy's UniCredit said Chief Executive Officer Jean Pierre Mustier would step down at the end of his mandate in April next year after clashing with the bank's board over strategy. UniCredit said Padoan and the board would now look for a CEO replacement. UniCredit is the latest major European bank to announce a CEO departure this year, with Credit Suisse, UBS, ING, Commerzbank and Lloyds all making leadership changes. UniCredit trades at a 66% discount to its book value, versus 45% for rival heavyweight Intesa Sanpaolo.
Persons: Italy's UniCredit, Jean Pierre Mustier, Mustier, UniCredit, Pier Carlo Padoan, Padoan, Spencer Stuart, Matteo Del Fante, Intesa Organizations: dei, MPS, Credit Suisse, UBS, ING, Commerzbank, Lloyds, Credit Agricole, Banco Locations: SpA, Milan, Italy, Rome, BPER Banca
ET Stocks Rally, Looking Past Virus Concerns: Live Updates RIGHT NOW Airbnb seeks valuation of nearly $35 billion in I.P.O. The Fed has suggested it is disappointed with that decision, and Mr. Powell will address it in his remarks. Mr. Powell plans to note that the legislation gave “sole authority over its funds” to the Treasury secretary and that the Fed will give the money back. “For now, significant challenges and uncertainties remain, including timing, production and distribution, and efficacy across different groups,” Mr. Powell will say. “I continue to believe that a targeted fiscal package is the most appropriate federal response,” Mr. Mnuchin says in his prepared remarks.
Persons: Ahmed Jadallah, Jean Pierre Mustier, Tesla, Dow, Dow Jones, — Powell, Mnuchin, Jerome Powell, Steve Mnuchin, Caroline Brehman, Jerome H, Powell, Steven Mnuchin, Mr, , , Brian Chesky, Calla Kessler, New York Times Airbnb, Airbnb, DoorDash, Michael J, York Times’s Eduardo Porter, Marcela Escobari, Escobari, Stephanie Brown, Emily Kask, Darren Woods Organizations: Reuters, Wall, Caixin, IHS, Nikkei, Organization, Economic Co, Debenhams, JD Sports, Dow Jones Indices, Federal Reserve, Treasury, Banking Committee, Fed, Financial Services, New York Times, Securities and Exchange Commission, Nasdaq, Roblox, Merced, The, Taxi Drivers, Machinists, Food Prep Workers House, Nurses, Goods, Mail, Supervisors, Brookings Institution, Taxi, Air Force, Salesforce, New, Exxon Mobil, ExxonMobil, The New York Times Exxon Mobil, Exxon Mobil’s, XTO Energy, Royal, Shell, Chevron, Exxon, Dow, Company Locations: I.P.O, Saudi, Saudi Arabia, Russia, Reuters U.S, Shanghai, Hong Kong, Japan, Europe, Germany, France, China, Kazakhstan, UniCredit, British, Arcadia, United States, York, Rochester, Mich, New York, Ann Arbor, Baton Rouge, La, Appalachia, Rocky, , Oklahoma , Texas , Louisiana , Arkansas, Canada, Argentina, Africa, New Mexico, West Texas, Guyana, Brazil
Ryan Reynolds doesn't want a street named after him
  + stars: | 2020-12-01 | by ( Lisa Respers France | ) edition.cnn.com sentiment -0.99   time to read: +1 min
(CNN) Ryan Reynolds does not want the citizens of Vancouver to be cruising down a street named for him. "Very kind but hard pass," Reynolds tweeted. "If traffic sucks everyone will say, "Ryan Reynolds is a mess" or "Ryan Reynolds is really backed up." If traffic sucks everyone will say, "Ryan Reynolds is a mess" or "Ryan Reynolds is really backed up". — Ryan Reynolds (@VancityReynolds) November 28, 2020The Change.org petition was started by "The Kevin and Sonia Show with Tara Jean" on Vancouver's 104.9 KiSS RADiO and states that the city's "favourite son, Ryan Reynolds, deserves to have a street named after him (or at least a lane).
Persons: Ryan Reynolds, Reynolds, — Ryan Reynolds, Kevin, Sonia Show, Tara Jean Organizations: CNN Locations: Vancouver
(CNN) French sailor Kevin Escoffier has been rescued by fellow competitor and compatriot Jean Le Cam in a round-the-world race after spending over 11 hours in a life raft. Both men were competing in the Vendée Globe , a 24,296-mile solo sailing race, when Escoffier hit trouble. Race organizers responded by diverting Le Cam on a rescue mission, with the Frenchman the nearest competitor to the scene. Le Cam himself was rescued in this race in 2009 after spending 16 hours in his upturned yacht and Escoffier said he was not scared as soon as he saw his rival in the distance. French skipper Jean Le Cam diverted from the race to rescue Kevin Escoffier.
Persons: Kevin Escoffier, Jean Le Cam, Escoffier, Frenchman, Le Cam, Jean I, Jacques Caraes, Kevin, Jean, Les, d'Olonne Organizations: CNN, Vendee Globe Locations: French, Vendée Globe, Good Hope, South Africa, Le Cam, Vendee
Sephora partners with Kohl's to open mini shops in 850 stores
  + stars: | 2020-12-01 | by ( ) www.cnbc.com + 1.00   time to read: 1 min
Sephora partners with Kohl's to open mini shops in 850 storesKohl's CEO Michelle Gass and Sephora Americas CEO Jean-Andre Rougeot discuss their partnership which will bring Sephora to some 850 Kohl's stores around the country.
Persons: Kohl's, Michelle Gass, Jean, Andre Rougeot Organizations: Sephora Locations: Sephora Americas
Customers have been telling us they want a bigger, better beauty experience: Kohl's CEOCNBC's Lauren Thomas reports that Kohl's is partnering with Sephora in a 'bet on beauty.' Sephora will be opening mini shops in 850 Kohl's stores by 2023. With Kohl's CEO Michelle Gass, who says customers have been telling the retailer they wanted a better beauty experience, and Sephora Americas CEO Jean-Andre Rougeot, who says the partnership will be very complementary.
Persons: CNBC's Lauren Thomas, Kohl's, Sephora, Michelle Gass, Jean, Andre Rougeot Organizations: Sephora Locations: Sephora Americas
UniCredit says CEO Mustier to step down
  + stars: | 2020-11-30 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
Slideshow ( 2 images )MILAN (Reuters) - Italy’s UniCredit said Chief Executive Jean Pierre Mustier would step down at the end of his current term in April 2021. UniCredit said chairman designate Pier Carlo Padoan and the board of directors would undertake a wide-ranging external and internal search for a replacement. “It has become apparent in recent months that the ‘Team 23’ (business plan’s) strategy and its core pillars no longer corresponds to the board’s current thinking,” Mustier said in a statement. “Hence I have decided to retire from the group at the end of my mandate in April 2021, to allow the new board to elaborate a future strategy,” he added.
Persons: Italy’s UniCredit, Jean Pierre Mustier, UniCredit, Pier Carlo Padoan, ” Mustier Organizations: Locations: MILAN
UniCredit CEO and strategy uncertainty sends shares lower
  + stars: | 2020-11-30 | by ( Valentina Za | ) www.reuters.com + 0.00   time to read: +2 min
MILAN (Reuters) - Shares in Italian bank UniCredit fell as much as 5% on Monday, hit by concerns over leadership and strategy as Chief Executive Jean Pierre Mustier’s three-year term looms large. FILE PHOTO: The logo of Italian bank Unicredit is seen outside of one of its Bank Austria branch offices in Vienna, Austria, February 25, 2016. Shares in Monte dei Paschi rose as much as 9%, lifted by expectations that a potential Mustier departure would clear the path to an acquisition. After fruitless attempts to strike a cross-border merger, Mustier has vowed to steer clear of consolidation, even as matchmaking in Italy’s fragmented banking sector intensifies. Filtri said that a Monte dei Paschi deal could be compatible with Mustier’s capital return strategy if structured to neutralise the impact on UniCredit’s core capital.
Persons: UniCredit, Jean Pierre Mustier’s, Leonhard Foeger, Mustier, Matteo Del Fante, Intesa Sanpaolo’s, Andrea Filtri, Filtri Organizations: MILAN, Bank, REUTERS, UBI, UBI . Credit Agricole, Banco, Investment, Mediobanca, Italy’s Treasury Locations: Bank Austria, Vienna, Austria, Italy’s, Monte dei, Europe, UBI ., BPER Banca
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