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☆ Pirelli CEO 'confident' Rome will act to curb Chinese influence over tyremaker
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

MILAN, June 15 (Reuters) - Pirelli's CEO (PIRC.MI) said in a recent private meeting that he is "very confident" Rome will use its Golden Power to curb Chinese influence over the Italian tyremaker, deemed a strategic asset, a person with knowledge of the matter said. Italy's right-wing government led by Giorgia Meloni is assessing a new governance agreement at Pirelli between its largest shareholder, China's Sinochem (600500.SS), and fellow investor Camfin, the vehicle of Pirelli CEO Marco Tronchetti Provera. The source said that Tronchetti Provera had expressed confidence at a recent meeting that the situation would be resolved positively. Tronchetti Provera had previously warned Rome, in a hearing with government officials, that the tyremaker's independence is at stake because of Sinochem's growing grip, the Wall Street Journal has reported. A spokesperson for the Pirelli CEO said Tronchetti Provera had no information to enable him to make - and he has not made - any predictions as to what decisions the government might take.

Persons: Giorgia Meloni, China's Sinochem, Camfin, Marco Tronchetti Provera, Tronchetti Provera, Sinochem, Giorgio Bruno, Giorgio Bruno ', Andrea Bruno, Giulio Piovaccari, Giuseppe Fonte, Susan Fenton Organizations: MILAN, Pirelli, Reuters, Wall Street, Camfin, Thomson Locations: Rome, Italy

☆ Italy's Meloni to meet Musk in Rome, sources say
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

ROME, June 15 (Reuters) - Italy's Prime Minister Giorgia Meloni is scheduled to meet with Tesla (TSLA.O) CEO Elon Musk in Rome later on Thursday, two government sources said, after holding brief talks with Foreign Minister Antonio Tajani in the morning. One of the sources said Musk's meeting with Meloni will take place as part of a "European tour" by the Tesla chief, who will also meet French President Emmanuel Macron on Friday. Macron said he would promote France to Musk as a possible site for one of the electric vehicle (EV) maker's factories as well as tech regulation. Earlier on Thursday, Musk and Tajani held a discussion on the automotive and aerospace sectors, the minister said in a tweet. Reporting by Angelo Amante, Giuseppe Fonte and Giulio Piovaccari; editing by Federico Maccioni and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Giorgia Meloni, Elon Musk, Antonio Tajani, Meloni, Emmanuel Macron, Macron, Tesla, Tajani, Angelo Amante, Giuseppe Fonte, Giulio Piovaccari, Federico Maccioni, Jonathan Oatis Organizations: Italy's, Tesla, Foreign, Thomson Locations: Rome, France

☆ Italy's Meloni meets Musk in Rome
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

ROME, June 15 (Reuters) - Italy's Prime Minister Giorgia Meloni met with Tesla (TSLA.O) CEO Elon Musk in Rome later on Thursday, a government source said, after holding brief talks with Foreign Minister Antonio Tajani in the morning. Talks between Meloni and Musk focused on the low birth rate in Italy, the issue of deregulation in the European Union and the risks related to the use of artificial intelligence, the source said. Another official said the meeting with Meloni was part of a "European tour" by the Tesla chief, who will also meet French President Emmanuel Macron on Friday. Macron said he would promote France to Musk as a possible site for one of the electric vehicle (EV) maker's factories as well as tech regulation. Earlier on Thursday, Musk and Tajani held a discussion on the automotive and aerospace sectors, the minister said in a tweet.

Persons: Giorgia Meloni, Tesla, Elon Musk, Antonio Tajani, Musk, Meloni, Emmanuel Macron, Macron, Tajani, Angelo Amante, Giuseppe Fonte, Giulio Piovaccari, Federico Maccioni, Jonathan Oatis Organizations: Italy's, Foreign, European Union, Thomson Locations: Rome, Italy, France

Italian premiers have been given state funerals in the past, but this is the first time a national day of mourning has been called for one. Italy is ruled by a right-wing coalition of Prime Minister Giorgia Meloni's party Brothers of Italy, Matteo Salvini's League and Berlusconi's former party Forza Italia. Bindi, a woman often targeted by Berlusconi's sexist jibes, said the national day of mourning was "disrespectful towards the majority" of Italians who opposed the late leader. WREATHS AND SOCCER BANNERS[1/9] People wait for the funeral of former Italian Prime Minister Silvio Berlusconi, in Milan, Italy June 14, 2023. Hungarian Prime Minister Viktor Orban was also confirmed, but few other senior European politicians were expected.

Persons: Silvio Berlusconi, Berlusconi, Giuseppe Conte, Rosy Bindi, Giorgia, Matteo Salvini's, Donald Trump, Tomaso Montanari, Nardi, Lucia Adiele, Sergio Mattarella, Elly Schlein, Mario Draghi, Mario Monti, Paolo Gentiloni, Emir Sheikh Tamim bin Hamad, Mohammed Shia, Al Sudani, Viktor Orban, Cristiano Corvino, Angelo Amante, Alvise Armellini, Federico Maccioni, Alexandra Hudson, Gavin Jones Organizations: MILAN, Italian, Reuters, Matteo Salvini's League, Forza Italia, European Commission, Siena's University for Foreigners, REUTERS, Democratic Party, Thomson Locations: Milan's Cathedral, Milan, Italy, Altamura, Thani

The funeral homily by Milan's Archbishop Mario Delpini appeared to acknowledge his excesses as well as his qualities. "What can we say about Silvio Berlusconi? [1/9] People wait for the funeral of former Italian Prime Minister Silvio Berlusconi, in Milan, Italy June 14, 2023. These included Qatar's Emir Sheikh Tamim bin Hamad al-Thani, Iraqi Prime Minister Mohammed Shia al-Sudani and Hungarian Prime Minister Viktor Orban. "Final farewell to Silvio Berlusconi.

Persons: Silvio Berlusconi, Berlusconi, Silvio, Marta Fascina, Marina, Donald Trump, Milan's, Mario Delpini, Lucia Adiele, Sergio Mattarella, Giorgia Meloni, Brothers, Matteo Salvini's, Giuseppe Conte, Rosy Bindi, Tomaso Montanari, Emir Sheikh Tamim bin Hamad, Mohammed Shia, Viktor Orban, Orban, Vladimir Putin, Putin, there's, Cristiano Corvino, Angelo Amante, Alvise Armellini, Gavin Jones, Federico Maccioni, Alexandra Hudson, Nick Macfie Organizations: MILAN, Wednesday, AC Milan soccer, Reuters, Forza Italia, Police, Italian, REUTERS, Matteo Salvini's League, European Commission, Siena's University for Foreigners, Thomson Locations: Milan, Italian, Altamura, Italy, Thani, Iraqi, Hungarian, Ukraine, Kyiv

☆ Silvio Berlusconi, Italy's former showman leader, dies at 86
▼ + stars: | 2023-06-12 | by ( Valentina Di Donato Barbie Latza Nadeau Laura Smith-Spark Peter Wilkinson Antonia Mortensen Rob Picheta | Valentina Di Donato | Barbie Latza Nadeau | ) edition.cnn.com time to read: +18 min

Umberto Cicconi/Hulton Archive/Getty Images Berlusconi swims at a Tunisian beach in 1984. Umberto Cicconi/Hulton Archive/Getty Images Berlusconi leaves a 1985 news conference in Paris. Franco Origlia/Hulton Archive/Getty Images Berlusconi announced in November 1993 that he would be entering the world of politics. Franco Origlia/Hulton Archive/Getty Images Berlusconi waves while attending a European Council meeting in Corfu, Greece, in June 1994. Vittorio Zunino Celotto/Getty Images Berlusconi hands the Berlusconi Trophy to AC Milan's Massimo Ambrosini in August 2011.

Persons: Rome, Rome CNN — Silvio Berlusconi, Christ, ”, Berlusconi, Milan’s, Benito Mussolini, “ Il Cavaliere ”, Milan, Giorgia Meloni, Matteo Salvini, Silvio Berlusconi, Alessandra Benedetti, Eric Vandeville, Indro Montanelli, Umberto Cicconi, Italy's, Michel Clement, Francis Apesteguy, Veronica Lario, Franco Origlia, Langevin Jacques, Sygma, Cesare Previti, Pope John Paul II, Bill Clinton, Hillary Clinton, Veronica, William Stevens, Barbara, Eleonora, Oscar Scalfaro, Patrick Hertzog, Romano Prodi, Alberto Pizzoli, Giuseppe Cacace, Gregorio Borgia, Associated Press Berlusconi, Vittorio Zunino Celotto, Massimo Ambrosini, Claudio Villa, Dan Kitwood, preliminarily, Filippo Monteforte, Alessia Pierdomenico, Remo Casilli, Reuters Berlusconi, Giuseppe Lami, Angelo Carconi, Emanuele Cremaschi, Tiziana Fabi, Luigi Brugnaro, Renato Brunetta, Piero Cruciatti, Hungary’s Viktor Orban, Britain’s Boris Johnson, Donald Trump, “ Berlusconi, ” Severgnini, ” Meloni, Claudia Greco, Prodi –, –, Berlusconi’s, Ignazio La Russa, “, Gianfranco Fini –, FILIPPO MONTEFORTE, Vladimir Putin, Volodymr Zelensky, Nobel, salesmanship ’, Jesus Christ, Severgnini, il, salesmanship, Francesca Pascale, Del, Pavarotti, ” Berlusconi, Marina, Carla Dall’Oglio, Luigi Organizations: Rome CNN, Milan’s San Raffaele, Forza Italia, Freedom, Italian, Getty, Canale, AC Milan, Berlusconi, Romano, Associated Press, Associated, Bloomberg, Reuters, Venice, Anadolu Agency, RAI, Media, Milano, Milan –, world’s, Forza Italia Party, Forza, soccer team, Northern League Party, European, Union coalition, Sporting, della, PM, “, ”, Del Monaco Locations: Milan, Paris, AFP, Naples, Italy, Rome, Corfu, Greece, Tatanto, Cannes, France, Italy's, Venice, Italy's Senate, Monza, Lombardy, ”, L’Aquila, Milan’s, Italian, Europe, Ukraine

Media tycoon Berlusconi founded Forza Italia when he entered politics in 1994. "I expect Brothers of Italy to be attractive to Forza Italia members," Lorenzo De Sio, a politics professor at LUISS University in Rome, said. The relationship between Berlusconi and Meloni repeatedly came under strain since they won general elections together last year. That triggered a long process which ended up in a merger between Forza Italia and MSI's heir Alleanza Nazionale in a single party. Althea Spinozzi, fixed income strategist at Saxo Bank, said the risk associated with investing in Italy can decrease with a downsized Forza Italia.

Persons: Marina, Silvio Berlusconi, Giorgia Meloni, Berlusconi, Matteo Salvini's, Meloni's, Giuliano Cazzola, Lorenzo De, Meloni, Alleanza, Brothers, Sergio Mattarella, Yara, Eugenio Pizzimenti, Antonio Tajani, Pizzimenti, Althea Spinozzi, Marina Berlusconi, Angelo Amante, Giuseppe Fonte, Antonella Cinelli, Angus MacSwan Organizations: Forza Italia, Media, Matteo Salvini's League, Forza Italia's, Forza, Reuters, Analysts, LUISS University, Italian Social Movement, Berlusconi's, Alleanza Nazionale, REUTERS, Pisa University, Union, Saxo Bank, Meloni, Thomson Locations: ROME, Italy, Rome, Ukraine, Brussels

☆ The Harvard economics PhD whiz who is teaching generative AI to invest for everyone
▼ + stars: | 2023-06-06 | by ( Kiley Lambert | ) www.cnbc.com time to read: +3 min

Szilagyi has the record for the fastest-ever Harvard Economics Ph.D. (2.5 years), studying under Ken Rogoff. In addition to his economics Ph.D., Szilagyi holds BA and MA degrees in mathematics and economics from Yale. Szilagyi: Toggle is a generative AI startup that sits squarely at the intersection of finance and artificial intelligence. Toggle AI was really born from observing the ever-mounting flow of financial data that we needed to track. Thanks to his support, Toggle AI took off with a mission to provide every investor and advisor with powerful AI tools in an easy-to-navigate, chat interface.

Persons: Jan Szilagyi, Szilagyi, Stanley Druckenmiller, Lombard Odier, Ken Rogoff, Giuseppe Sette, Druckenmiller Organizations: Duquesne Capital, Lombard, Harvard, Yale, CNBC, Summit, Microsoft, Duquesne Locations: Szilagyi, Lombard

The upcoming national strategic fund for "Made in Italy" products will have an initial endowment of 1 billion euros ($1.10 billion) in state cash, the statement said, adding it would also aim to boost procurement of "critical raw materials." A draft seen by Reuters showed that the new vehicle was also entitled to invest in domestic, listed firms not operating in the financial sector. The scheme will aim to raise at least an additional 500 million euros from private investors, according to the document. Run by the state lender Cassa Depositi e Prestiti (CDP), the Patrimonio Rilancio fund was originally intended to provide some 40 billion euros of financing, but has so far invested just around 1 billion. Once the bill is approved by parliament, the government will issue a decree defining how the fund will work.

Persons: Rome, Giorgia Meloni, Adolfo Urso's, Italy's, Alison Williams, Deepa Babington Organizations: Reuters, United Arab, Industry, Patrimonio, InfraVia Capital Partners, Paris, Equity, Thomson Locations: ROME, Italy, Saudi Arabia, Qatar, United Arab Emirates, Azerbaijan, Norway, France

☆ Italy plans state-backed fund to promote AI startups
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

ROME, May 30 (Reuters) - Italy's government plans to set up an investment fund backed by state lender Cassa Depositi e Prestiti (CDP) to promote startups investing in Artificial Intelligence (AI), cabinet undersecretary Alessio Butti said on Tuesday. The upcoming vehicle will "promote study, research and programming on AI in Italy," Butti said in a statement. Many experts say new regulations are needed to govern AI because of its potential impact on national security and education, as well as jobs. A government source told Reuters Rome planned to earmark around 150 million euros ($165 million) to launch the fund. CDP is expected to invest its own resources in the scheme through CDP Venture Capital, a fund with around 3.2 billion euros in assets under management.

☆ Italy's La Scala to open new season with Verdi classic
▼ + stars: | 2023-05-29 | by ( Sara Rossi | ) www.reuters.com time to read: +2 min

[1/2] People watch a live broadcast of Modest Musorgskij's opera "Boris Godunov" on a giant screen at the Vittorio Emanuele II Gallery during La Scala Opera House's gala season opener in Milan, Italy, December 7, 2022. The opening night of the La Scala season has become a highlight of the calendar for the country's business and political elite, coinciding with the city's Feast of St. Ambrose holiday. Verdi's works have been performed at La Scala since 1839 and the choice of a historical work by a local favourite is likely to prove less contentious on Dec. 7. La Scala last year mitigated the impact by cutting consumption of gas and electricity by 22% and around 15% respectively, its artistic director Dominque Meyer said on Monday. In its new season, La Scala will host 14 operas, seven ballets, as well as concerts featuring Italian conductor Riccardo Muti, Briton Daniel Harding and Russian-born Kirill Petrenko.

☆ Fact Check-Galleria Umberto I in Naples built in 1890, not a thousand years prior
▼ + stars: | 2023-05-16 | by ( Reuters Fact Check | ) www.reuters.com time to read: +5 min

Galleria Umberto I was built between 1887 and 1890 and dedicated to Umberto I, Italy’s king at the time, said Joshua Arthurs, associate professor of history in the Department of Historical and Cultural Studies at the University of Toronto-Scarborough (here). Galleria Umberto I stands between Via Santa Brigida, Via Giuseppe Verdi and Via San Carlo and can be seen on Google Maps (goo.gl/maps/bC1CLDxHmExVokzg7). ARCHITECTURAL FEATURESArchitectural elements seen in Galleria Umberto I could not have been possible a thousand years prior, Arthurs said, and the style is typical of the Renaissance revival in the late 19th century, called “Stile Umbertino,” referring to King Umberto I. MISSING ‘M’Historians interviewed by Reuters could not confirm whether the M was ever missing from the building façade at some point. Galleria Umberto I could not have been built 1,000 years before 1890.

MILAN, May 15 (Reuters) - Australian fund Macquarie (MQG.AX) is raising legal hurdles over a plan backed by Italy's Treasury for state lender CDP to join forces with U.S. fund KKR (KKR.N) to buy Telecom Italia's (TIM) landline grid, three sources said. People familiar with the matter told Reuters this month the Treasury would welcome CDP joining forces with KKR for TIM's prized grid, with one source saying government officials ware pushing for CDP to drop its separate proposal. But Macquarie is raising legal issues about a possible alliance between CDP and KKR, three sources close to the matter told Reuters late on Monday. CDP and Macquarie are co-investors in Open Fiber, a smaller rival to TIM. One of them said Macquarie was aiming to improve its offer with CDP ahead of next month's deadline.

MILAN, May 15 (Reuters) - Australian fund Macquarie (MQG.AX) is raising legal hurdles over a plan backed by Italy's Treasury for state lender CDP to join forces with U.S. fund KKR (KKR.N) in a deal to buy Telecom Italia's landline grid (TIM) (TLIT.MI), three sources said on Monday. But Macquarie is now raising legal issues about a possible alliance between CDP and KKR, three sources close to the matter told Reuters on Monday. CDP and Macquarie are co-investors in Open Fiber, a smaller rival to TIM. One of them said Macquarie was aiming to improve its offer with CDP ahead of the June 9 deadline. Separate sources with knowledge of the matter had said this month KKR had expressed its willingness to work further on its bid.

LONDON, May 9 (Reuters) - Ecuador sealed the world's largest "debt-for-nature" swap on record on Tuesday, selling a new "blue bond" that will funnel at least $12 million a year into conservation of the Galapagos Islands, one of the world's most precious ecosystems. Tuesday's $656 million "Galapagos Bond," as it has been dubbed, will run until 2041 and gave investors that bought it a 5.645% "coupon" or interest rate, its bankers said. Ecuador sovereign bonds currently yield from 17% to 26%, but the new bond has an $85 million 'credit guarantee' from the Inter-American Development Bank and $656 million of political risk insurance from the U.S. International Development Finance Corp (DFC), effectively making it less risky. The driver has been the remote Galapagos Islands, some 600 miles (970 km) off Ecuador's mainland coast, that inspired Charles Darwin's Theory of Evolution. Scott Nathan, the chief executive of DFC, said people needed to "stay tuned" for similar deals in other countries and the Galapagos deal had been a long time coming.

☆ Miami Grand Prix: How to watch and everything you need to know as F1 returns to Florida
▼ + stars: | 2023-05-07 | by ( Charlie Webster | ) edition.cnn.com time to read: +6 min

Despite more competitive sessions, fans were left disappointed with the lack of overtaking in last week’s Azerbaijan Grand Prix. What happened last yearIn last year’s inaugural Miami Grand Prix, Ferrari locked out the front row in qualifying with Charles Leclerc taking pole position and teammate Carlos Sainz starting P2. Max Verstappen is the only previous winner of the Miami Grand Prix. Only a chaotic Australian Grand Prix, in which Pérez began from the pit lane after crashing in qualifying, has prevented a perfect start for Red Bull. Giuseppe Cacace/AFP/Getty ImagesFlorida-born rookie Logan Sargeant will be hoping to score his first F1 points at his home Grand Prix.

ROME, May 5 (Reuters) - Italy's Treasury is open to reducing its 64% stake in Monte dei Paschi di Siena (MPS) (BMPS.MI) through one or more share sales on the market, three people briefed on the matters told Reuters. After rescuing MPS at a cost of 5.4 billion euros ($6 billion) for taxpayers, Rome pumped another 1.6 billion into the Tuscan bank last November when it covered 64% of a 2.5 billion euro capital raise. MPS had to raise fresh capital to fund staff exits and replenish its capital reserves after the Treasury failed to clinch a sale of the bank to UniCredit (CRDI.MI) in 2021. Prime Minister Giorgia Meloni said several times that MPS's privatisation should foster the creation of several large banking groups in the country. ($1 = 0.9081 euros)Reporting by Giuseppe Fonte in Rome and Valentina Za in Milan; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's Treasury ready to back KKR-CDP joint bid for Telecom Italia's grid, sources say
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

ROME, May 5 (Reuters) - Italy's Treasury is ready to back a joint purchase proposal for Telecom Italia's (TIM) (TLIT.MI) grid by U.S. KKR and state lender CDP to end a stalemate over the sale process of the phone group's prized asset, sources told Reuters. In recent talks with involved parties, the Treasury said it would welcome a joint bid for TIM's grid, two sources familiar with the matter told Reuters on Friday. One of sources added the ministry would also be open to involving Infrastructure fund F2i in the process, should talks over a joint bid prove feasible. TIM, CDP, Macquarie and KKR declined to comment, while F2i was not immediately available for comment. Reporting by Giuseppe Fonte in Rome and Elvira Pollina in Milan, editing Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

☆ Adviser to Italy's Treasury tables proposal for windfall tax on banks
▼ + stars: | 2023-05-04 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

European lenders have consistently beaten expectations in recent quarters as higher rates set by the European Central Bank (ECB) to curb inflation have driven profits higher, while leaving savers disgruntled. Government sources said last week that Economy Minister Giancarlo Giorgetti was working on a windfall tax on banks to fund relief measures for families hit by inflation, which is running above the euro zone average. Giorgetti told parliament that the government "cannot and will not" ignore the fact that banks have seen revenues increase due to higher interest rates, but have not adjusted rates on deposits accordingly. UniCredit (CRDI.MI) CEO Andrea Orcel confirmed on Wednesday that there were discussions ongoing in Italy about a new tax on banks' profits, but there was no certainty it would be introduced. Madrid is planning to raise around 6 billion euros ($6.63 billion) from a windfall tax on energy companies and banks.

☆ Italy pushes to limit executive pay in listed state-run firms
▼ + stars: | 2023-05-04 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

Top managers' multi-million euro salaries and handsome bonuses have come into focus at a time when Italian families are struggling with an inflation rate that neared 9% in April, well above the euro zone average. According to the government draft, the Treasury will work to "contain management costs" when shareholders vote on remuneration policies at state-controlled listed companies. Monte dei Paschi already applies curbs to executives' pay as a bank that was bailed out by the state in 2017. Under terms agreed with European Union authorities, the total remuneration of any MPS executive may not exceed 10 times the average salary of its employees in 2022. Additional reporting by Gavin Jones; Editing by Gavin Jones and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Italy unlikely to renew China deal, but needs time, official says
▼ + stars: | 2023-05-04 | by ( Crispian Balmer | ) www.reuters.com time to read: +3 min

ROME, May 4 (Reuters) - Italy is highly unlikely to renew its Belt and Road Initiative (BRI) deal with China, which expires early next year, but needs time to discuss the issue with Beijing, a senior government official said. By contrast, Chinese exports to Italy rose to 57.5 billion from 31.7 billion over the same period, according to Italian data. The government official said Rome would use this lack of economic development as an argument for not renewing the deal. "There is no political will on my part to favour Chinese expansion into Italy or Europe," she said. (This story has been corrected to show that data refers to Chinese exports to Italy, not Chinese imports from Italy, in paragraph 6)($1 = 0.9037 euros)Reporting by Crispian Balmer; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.

☆ Shake Shack is rolling out new plant-based menu items made using AI, including dairy-free shakes and veggie burgers
▼ + stars: | 2023-05-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Shake Shack is launching three plant-based menu options this week. The new items include a veggie burger and two desserts with recipes designed by AI. The fast food chain is rolling out a new Veggie Shack burger, non-dairy chocolate shake, and non-dairy frozen custard this week, each designed using AI. The new veggie burger was "born out of testing many different veggie burger iterations" and includes "mushrooms, sweet potatoes, carrots, farro, and quinoa, topped with American cheese, crispy onions, pickles and ShackSauce," Shake Shack said in a statement. NotCo also makes it own line of products including NotMilk, NotBurger, and NotChicken, and the new Shake Shack milkshake options use the company's non-dairy milk.

☆ Italy wary of raising taxes on web firms, fearing U.S. reaction
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

ROME, May 2 (Reuters) - Italy must be cautious about taxing web companies more heavily as it risks retaliation from the United States, Deputy Economy Minister Maurizio Leo said on Tuesday. A tax on digital companies including U.S. tech giants has been effective since 2020 and is worth some 300 million euros ($329 million) per year. "We cannot go beyond that," Leo told a parliamentary hearing. At the end of 2019, just few weeks before Italy's tax was approved by parliament, Washington said the levy unfairly targeted U.S. firms. Leo told lawmakers the issue should be addressed as part of talks to implement a global minimum tax aimed at stopping big business from hiding profits in tax havens.

☆ How an Architect Gave La Scala a 21st-Century Update
▼ + stars: | 2023-05-02 | by ( Sam Lubell | ) www.nytimes.com time to read: +1 min

Over the past two decades, La Scala, completed by the architect Giuseppe Piermarini in 1778, has experienced its most profound changes since after World War II, when it suffered severe damage from Allied bombing raids. Mr. Botta’s first phase of work at La Scala was carried out from 2002 to 2004, and the second, begun in 2019, has just wrapped up. What is the scope of your work at La Scala? But to effectively make it work today, it needed to be much more flexible and capable than what existed in the 1700s. We’ve created a series of elements designed to make the theater function for the 2000s.

☆ Banco BPM to work on revising business plan, improve targets
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: 1 min

MILAN, April 20 (Reuters) - Banco BPM (BAMI.MI) will work on updating its strategic plan in the coming months and is confident it can improve its financial goals, Chief Executive Giuseppe Castagna said as shareholders prepare to hand him another mandate. Castagna, who has led Banco BPM since the 2017 merger that created Italy's third-largest bank, is set to be reappointed as shareholders vote on Thursday to name a new board. "One of our top priorities for the coming months will be to update our business plan on a stand-alone basis which, I'm sure, will be able to aim to improve the recently announced targets," Castagna told shareholders. Reporting by Andrea Mandala; writing by Valentina Za Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

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