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☆ Russian Attack on Ukraine Kills at Least 12 People: Live Updates
▼ + stars: | 2023-04-28 | by ( Marc Santora | Victoria Kim | ) www.nytimes.com time to read: +5 min

Evidence is piling up about the steady disintegration of Russia’s vital natural gas export industry since the country’s invasion of Ukraine. With this success behind them, European leaders are contemplating widening their attack to include imports of liquefied natural gas from Russia. Russian L.N.G. energy commissioner, has urged members of the bloc and European energy companies to stop buying Russian L.N.G. On the other hand, having largely gone cold turkey on Russian pipeline gas, European leaders may calculate that “going without Russian L.N.G.

☆ The best of Milan Design Week 2023
▼ + stars: | 2023-04-27 | by ( Marianna Cerini | ) edition.cnn.com time to read: +8 min

Milan CNN —The design world’s largest annual fair enjoyed a return to full pre-pandemic form with its 2023 showcase, transforming the city of Milan with hundreds of exhibitions, site-specific installations, pop-ups and public projects. Almost everywhere, the focus was on sustainable design, circular economy, material innovation and artistry combining craft with innovation. Some of the most interesting ideas were those that looked at waste – literally – to rethink what design can do when it uses what is already there. Shown in various stages of decomposition, the chair challenged viewers to approach products with the end of their lifecycle in mind. Top image: One of two bags design legend Gaetano Pesce created for Bottega Veneta’s Milan Design Week installation.

☆ Nemo’s Garden: The future of farming could be under the sea
▼ + stars: | 2023-04-27 | by ( Michelle Cohan | ) edition.cnn.com time to read: +5 min

Nemo’s Garden uses hydroponics – a technique that uses water-based nutrients instead of soil, the same method used in most indoor vertical farms. Studies ranging in nature from pharmaceutical to culinary have been conducted on Nemo’s Garden. “In our studies Nemo’s Garden has 58% more fish than the surrounding environment, so it has a repopulation effect,” he adds. Equipment inside Nemo's Garden is powered by renewable energy like solar panels and wind turbines. The team at Nemo’s Garden has plans for even bigger biospheres in the future, as well as other locations.

☆ Runaway leaders Napoli close on title with last-gasp win at Juve
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +3 min

A goalless first half saw defensive Juventus allowing Napoli to enjoy the lion's share of possession, awaiting chances to counter-attack. The approach did not result in many chances for either side and Juve managed only three shots on target. The game sprung to life with 20 minutes left when Napoli came close to taking the lead through striker Victor Osimhen who fired inches wide of the post. Napoli then sealed their eighth away league win in a row through Raspadori, who beat Szczesny with a volley following a beautiful lofted cross by midfielder Eljif Elmas. "We played a good game against a strong Napoli," said Juventus coach Massimiliano Allegri.

☆ Sale of Italy's MPS should help create several big banks, says Meloni
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

Monte dei Paschi (MPS), of which the government owns 64% following a 2017 bailout, is seen playing a pivotal role in the consolidation expected among Italy's mid-sized lenders. After failing to clinch a sale of MPS to UniCredit (CRDI.MI) in 2021, the government is expected to seek another bank interested in buying its stake in the Tuscan lender. The government has just decided to renew Luigi Lovaglio's mandate as MPS chief executive for another term. We confirmed Lovaglio at the helm of Monte dei Paschi, the CEO successfully led the last capital increase, and now we must work to bring Monte back to the private market," Meloni said. "The government will not intervene, it is alert to check that there are no situations that jeopardise the national interest," Meloni told the newspaper.

☆ Juventus draw with Sporting to book semi-final spot
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - Europa League - Quarter Final - Second Leg - Sporting CP v Juventus - Estadio Jose Alvalade, Lisbon, Portugal - April 20, 2023 Juventus' Wojciech Szczesny and Angel Di Maria celebrate after the match REUTERS/Rodrigo AntunesLISBON, April 20 (Reuters) - Juventus drew 1-1 with Sporting in an entertaining Europa League clash on Thursday to win their quarter-final 2-1 on aggregate and set up a semi-final clash with Sevilla. Juventus took an early lead through midfielder Adrien Rabiot who netted from close range after nine minutes following a corner. A lively clash continued after the break as Sporting pressed with confidence for possession but defenders Ricardo Esgaio and Sebastian Coates squandered three late chances to level the tie. Juventus will meet Sevilla in the semi-finals on May 11 and 18 after the Spanish side knocked out Manchester United 5-2 on aggregate. Reporting by Anita Kobylinska in Gdansk, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

German specialised property lenders such as Aareal Bank (ARLG.DE), Deutsche Pfandbriefbank (PBBG.DE) and Berlin Hyp, have a bigger concentration of real estate exposure, analysts added. Blackstone (BX.N) recently blocked withdrawals from its $70 billion real estate income trust after facing a flurry of redemption requests. Open-ended real estate funds in Britain have also battled to meet strong demand for redemptions. In Europe, CRE exposure for smaller banks, more at risk of deposit flight, is estimated at under 30% of all loans, Capital Economics said. "On the other, real estate owners themselves are going to face quite material increase in costs."

☆ Juventus draw with Sporting to book Europa semi-final spot
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

They will meet Sevilla in the semi-finals on May 11 and 18 after the Spanish side knocked out Manchester United 5-2 on aggregate. Juventus took an early lead through Rabiot who netted from close range after nine minutes following a corner. Just before halftime, Sporting winger Nuno Santos tried to square the ball inside the box coming from the left but Juve defender Gleison Bremer blocked the threat right in front of the diving Szczesny. After the break Sporting pressed with confidence for possession but they squandered three more opportunities to level the match. Reporting by Anita Kobylinska in Gdansk, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Gucci is part of French luxury goods group Kering (PRTP.PA). The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in several EU countries. The Commission, which acts as the competition enforcer in the 27-country EU, did not name the companies or the countries, in line with its policy. The European Commission declined to comment on Wednesday. Companies found guilty of breaching EU rules face fines of as much as 10% of their global turnover.

MILAN/BRUSSELS, April 19 (Reuters) - EU antitrust regulators and Italian tax police inspected a facility of luxury goods company Gucci as part of a European Union investigation spanning several countries and companies, two sources with knowledge of the matter said on Wednesday. Gucci is part of French luxury goods group Kering (PRTP.PA). The second source said other fashion companies outside the Kering group had been targeted by similar inspections. The European Commission said on Tuesday that antitrust regulators had raided companies in the fashion sector in several EU countries. The European Commission declined to comment on Wednesday.

☆ Italian investor in UniCredit, Banco BPM sees 'strategic value' in deal
▼ + stars: | 2023-04-19 | by ( Valentina Za | ) www.reuters.com time to read: +2 min

Italy's No.2 bank UniCredit was preparing an offer for number three Banco BPM in 2022, before the Ukraine conflict forced CEO Andrea Orcel to focus on its Russia exposure. Orcel had looked to move on Banco BPM soon after becoming UniCredit CEO two years ago, but instead entered talks with the government over a possible Monte dei Paschi (BMPS.MI) acquisition that eventually fell through. Fondazione CRT holds 1.9% of UniCredit and 1.8% of Banco BPM. Twenty years later that gap is still there so the strategic value of the deal remains". Born from the merger of BPM with Verona-based Banco Popolare, Banco BPM controls 12% of Lombardy's banking market, twice UniCredit's market share.

☆ Factbox: EU updates bank crisis rules to strengthen taxpayer shield
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 18 (Reuters) - The European Union set out draft reforms to rules for closing down failing banks on Tuesday. The original rules were introduced after the 2007-09 global financial crisis when taxpayers had to bail out lenders. This has often involved public money and the EU reform seeks to make it easier to apply its resolution rules to all sizes of banks to minimise taxpayer involvement. PRECAUTIONARY CAPITALItaly injected 5.4 billion euros ($5.9 billion) of state aid into Monte dei Paschi di Siena in 2017 under the precautionary capital mechanism, helping to circumvent resolution rules. DEPOSIT GUARANTEE POTThe proposals make it easier for regulators to use cash from industry-funded deposit guarantee schemes in a bank that has gone bust.

☆ Factbox: Italy's govt nominees for top jobs at Enel, Eni, Terna
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

Their appointments will need to be approved by investors at meetings scheduled for May 9 for Terna, and May 10 for both Enel and Eni. ENEL (ENEI.MI)Flavio Cattaneo, 59, is an experienced manager and entrepreneur who will leave his role as vice president of high-speed train operator Italo to succeed current Enel CEO Francesco Starace. Becoming Enel chairman would be for him a return to the utility where he served as CEO between 2002 and 2005. Scaroni also served as chief executive of energy group Eni between 2005 and 2014. ENI (ENI.MI)The Treasury proposed CEO Claudio Descalzi for a fourth term and picked Giuseppe Zafarana, 59, as chairman for the energy group.

☆ Bob Marley and the Wailers’ ‘Catch a Fire’ Turns 50
▼ + stars: | 2023-04-15 | by ( Marc Myers | ) www.wsj.com time to read: 1 min

Jamaican music was hardly foreign to American ears or the U.S. pop charts in 1973. Starting with Harry Belafonte ’s recording of “Day-O (The Banana Boat Song)” in 1956, singles became hits using Jamaica’s brassy ska and mellow rocksteady styles. These included Millie Small’s “My Boy Lollipop” (1964), Johnny Nash ’s “Hold Me Tight” (1968) and “I Can See Clearly Now” (1972), the Beatles’ “Ob-La-Di, Ob-La-Da” (1968) and Desmond Dekker & the Aces’ “Israelites” (1968). Then, in February 1973, the Jamaican crime film “The Harder They Come,” starring singer Jimmy Cliff , was released in the U.S. along with the soundtrack album. Many Americans were exposed for the first time to reggae—a bass-heavy rhythmic style that emerged in 1968 with the Maytals’ “Do the Reggay.”

The investors, who hold some Casino bonds maturing in 2026 and 2027, are seeking to move quickly before details of the tie-up are agreed, the sources added. Other debt being left out of the joint venture could have lower prospects to recover its full value. Casino does not require consent from bondholders to potentially push their holdings into the joint venture, according to two sources. Unrestricted status would allow the joint venture to potentially list on a stock exchange and receive capital from a third party. Casino and Teract said in a joint statement in March that discussions have already started with potential investors about providing the additional capital.

☆ Opinion: How the battle for Bakhmut exposed Russia’s ‘meat-grinder’
▼ + stars: | 2023-04-14 | by ( Michael Bociurkiw | ) edition.cnn.com time to read: +10 min

It will also be recorded in history as a battle that exposed more than anywhere the meat-grinder approach of Russian fighting. Taking Bakhmut would be the first Russian gain since it captured (and later lost) the key southern Ukrainian city of Kherson in November. That Ukrainian forces have demonstrated such endurance in the battle for Bakhmut should come as little surprise. Like the current battle for Bakhmut, it too became emblematic of Ukraine’s tenaciousness to defend itself against Russia’s aggression – particularly considering the Ukrainian Armed Forces were far less prepared and equipped. “The battle for Bakhmut in winter-spring 2023 will surely enter the history books as the bloodiest battle in Europe since World War II,” said Masliychuk.

☆ Air Canada CFO Kazzaz to retire, ex-Bombardier exec Di Bert to take over
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Air Canada (AC.TO) said on Tuesday that Chief Financial Officer Amos Kazzaz would retire at the end of June and be replaced by former Bombardier Inc (BBDb.TO) executive John Di Bert. Di Bert, who has served as CFO for both Bombardier and Pratt & Whitney Canada, will assume the role at Air Canada on July 1. The change comes at a time when Air Canada, like other North American carriers, faces cost pressures due to a labor shortage amid a rebound in travel. Toronto-listed shares of Air Canada were up about 2% on Tuesday. Reporting by Pratyush Thakur in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Mispronouncing the word 'Bruschetta' could soon cost thousands of euros in Italy, where politicians want to pass a law to penalize 'Anglomania'
▼ + stars: | 2023-04-04 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Italy's government is hell-bent on passing a law that would penalize the use of non-Italian words. The proposed law would fine people who they believe are bastardizing the language. The proposed law seeks to stop "Anglomania," which "demeans and mortifies," Italian language and culture, according to the bill's text—and could even penalize Italians who mispronounce words like "Bruschetta." Pronouncing the word Bruschetta as "bru-shetta" and not "bru-sketta," for example, could cost Italians financially under the proposed law, according to CNN. Meloni's party is in support of the bill, which will be opened for parliamentary debate soon.

☆ Teen consumers are setting new trends — and spending more. A raft of Club names stand to gain
▼ + stars: | 2023-04-04 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Piper Sandler on Tuesday released the results of its semi-annual survey on Gen-Z teenagers, with bullish implications for a slate of Club holdings. For its latest report, Piper Sandler surveyed 5,690 U.S. teens between Feb. 13 and March 21, with an average age of 16.2 years across 47 states. Haircare saw a marginal 1% year-over-year gain, but that's of little concern to us given Estee Lauder's minimal exposure to the haircare market, a dynamic highlighted by Piper Sandler. Internet On the ecommerce front, 57% of survey respondents cited Club name Amazon (AMZ) as their favorite online retailer. As Piper Sandler noted, these are encouraging results that highlight Meta's ongoing product-improvement initiatives.

☆ Deadly Shipwreck Shakes Italy’s Anti-Immigration Government
▼ + stars: | 2023-04-03 | by ( Margherita Stancati | ) www.wsj.com time to read: 1 min

STECCATO DI CUTRO, Italy—At 4 a.m., as seawater poured into Summer Love, a rickety wooden boat packed with migrants, Assad al-Mulki grabbed his little brother, ran upstairs to the deck and jumped. In the rough, cold sea, Mr. Mulki, a 22-year-old Syrian asylum seeker, held his 6-year-old brother Sultan with one arm and a piece of flotsam with the other. The coast of Calabria was just a few hundred feet away.

☆ Italy's ski industry fires cannon against climate change
▼ + stars: | 2023-04-03 | by ( Stefano Bernabei | ) www.reuters.com time to read: +7 min

[1/7] Skiers pass on an artificial snow slope as end of the ski season nears, in Monte Cimone, Italy, March 31, 2023. "The ski-lifts were closed, the ski instructors and seasonal workers had nothing to do and we lost 40% of our revenue for the whole season," said Luciano Magnani, head of the local consortium of ski tourism operators. Some 90% of Italy's pistes rely on artificial snow, compared with 70% in Austria, 50% in Switzerland and 39% in France, according to data from Italian Green lobby Legambiente. Italy's ski sector directly or indirectly employs 400,000 people and generates turnover of 11 billion euros ($11.92 billion), according to Anef data, equal to about 0.5% of national output. Some economists and climatologists argue that trying to keep low-altitude ski resorts in business is destined to fail, and snow-making merely delays the inevitable.

EY global leader Carmine Di Sibio says the accounting firm is continuing to work toward a transaction. The unexpected revolt that has upended the planned breakup of accounting firm Ernst & Young is being driven by two longtime U.S. auditors who believe their part of the firm could end up weakened by a deal. John King and Frank Mahoney, senior U.S. EY executives, have emerged as key opponents to the firm’s plan for a worldwide split of its auditing and consulting arms, according to people familiar with the matter.

[1/6] Jorge Pedro Armoa, 67, works with metal in one of his three jobs to beat Argentina's over 100% inflation rate, in 9 de Abril, in the outskirts of Buenos Aires, Argentina March 21, 2023. REUTERS/Tomas CuestaBUENOS AIRES, March 30 (Reuters) - As Argentina's over 100% inflation rate saps earning power and outstrips wages, Jorge Pedro Armoa, 67, has found a painful solution: juggling three jobs as a metal worker, soccer coach and part-time salesman of medical creams, flip flops and honey. So sometimes it's not enough," said Armoa, a metal mold factory worker who is the technical director of a local soccer team and funds his own small business. Armoa, even with his three salaries and income from his wife, a teaching assistant, often struggles to get by. "You have to put a positive face on things, good energy and think that tomorrow things will be better."

☆ Europe drought: This once-thriving lake has all but dried up -- a story repeated across Europe
▼ + stars: | 2023-03-30 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

While in the United States, the snow and rain that have pummeled California have helped fill reservoirs and ease unrelenting drought, winter has been far from kind to many parts of Europe. A buoy is seen on the banks of the partially dry Lake Montbel as France faces a record winter dry spell. “Lake Montbel remains at an abnormally low level,” Franck Solacroup, the regional director of the Adour-Garonne Water Agency, which covers the area that includes Lake Montbel, told CNN. Farmers like Rouquet, who rely on the lake, are having to make tough decisions on what to grow. “This is the most extreme winter in terms of low snow cover,” she told CNN.

☆ Australia's HMC Capital to buy hospitals from U.S. firm for $802 mln
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

March 30 (Reuters) - Australian asset manager HMC Capital Ltd (HMC.AX) said on Thursday it will buy 11 private hospitals from U.S.-based Medical Properties Trust (MPW.N) for A$1.20 billion ($802.08 million). The hospitals are currently managed by Brookfield Corp's (BN.TO) Healthscope, the second-largest private hospital operator in Australia. Additionally, HMC Capital will raise A$123 million to fund the transaction. "This acquisition transforms HCW into Australia's largest diversified healthcare REIT with greater exposure to critical healthcare infrastructure in Australia's major capital cities," said HMC Capital CEO David Di Pilla. HMC Capital is a Sydney-based asset manager founded and backed by banker-turned-investor David Di Pilla.

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