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☆ Italy poised to shake up Treasury with new unit for state-run firms
▼ + stars: | 2023-09-14 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

The audit court on Thursday approved the decree needed to set up the unit, the sources said, despite making critical observations about some aspects of it. Giorgetti has approached former banker Marcello Sala, currently director for investor relations at the Treasury, to lead the department, they added. Under the reorganisation plan, the influential Treasury department within the ministry led by veteran economist Riccardo Barbieri would be split into two units. The Treasury will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. ($1 = 0.9323 euros)Additional reporting by Valentina Za in Milan Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Sala, Giancarlo Giorgetti, Giorgetti, Marcello Sala, Antonino Turicchi, Dario Scannapieco, Riccardo Barbieri, Valentina Za, Christina Fincher Organizations: Treasury, Economy, ITA Airways, Department, Thomson Locations: ROME, Italy, Siena, Milan

☆ Pope Francis lands in Mongolia, home to tiny Catholic flock
▼ + stars: | 2023-09-01 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

[1/10] Pope Francis tastes dried yoghurt as part of a welcome tradition as he arrives at the Chinggis Khaan International Airport during his Apostolic Journey in Ulaanbaatar, Mongolia September 1, 2023. Vatican Media/Handout via REUTERS Acquire Licensing RightsULAANBAATAR, Mongolia, Sept 1 (Reuters) - Pope Francis arrived in Mongolia on Friday to greet its tiny Catholic contingent, having earlier sent a blessing of "unity and peace" from his plane to China, with which the Vatican has had difficult relations. As is customary, Francis issued greetings to every country he flew over on his way to Mongolia including China, with which the Vatican has had difficult relations. "I send greetings of good wishes to your excellency and the People of China," the Pope said in the telegram addressed to Chinese President Xi Jinping. Mongolia was part of China until 1921 and has political and economic ties with Beijing.

Persons: Pope Francis, Francis, Pope, Xi Jinping, China’s, Philip Pullella, John Geddie, Christian Schmollinger, Robert Birsel Organizations: Vatican, Handout, REUTERS Acquire, ITA Airways, Communist Party, Thomson Locations: Ulaanbaatar, Mongolia, ULAANBAATAR, China, Western Europe, of China, Taiwan, Beijing

☆ Auger-Aliassime snaps losing streak with win over Berrettini in Cincinnati
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Aug 14, 2023; Mason, OH, USA; Matteo Berrettini (ITA) runs up the court for a return to Félix Auger-Aliassime (CAN) (not pictured) during the Western & Southern Open at Lindner Family Tennis Center. Mandatory Credit: Carter Skaggs-USA TODAY SportsAug 14 (Reuters) - Felix Auger-Aliassime ended a five-match losing streak with a come from behind 4-6 6-2 6-3 victory over Matteo Berrettini at the Cincinnati Open on Monday to set up a second round clash with Adrian Mannarino. The 23-year-old beamed a broad smile when Berrettini's forehand went long on match point, grateful for the bright spot in a thus far disappointing 2023 campaign. The 12th seeded Auger-Aliassime will look to keep his winning ways going in his first ever meeting with Frenchman Mannarino in the second round. Reporting by Rory Carroll in Los Angeles; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Matteo Berrettini, Félix, Carter Skaggs, Felix Auger, Aliassime, Adrian Mannarino ., Auger, I've, Frenchman Mannarino, Australia's Jordan Thompson, American John Isner, Isner, Finland's Emil Ruusuvuori, Nicolas Jarry of, Rory Carroll, Muralikumar Organizations: & Southern, Lindner, Tennis Center, USA, Cincinnati, U.S, Thomson Locations: Mason, OH, USA, Nicolas Jarry of Chile, Los Angeles

☆ Sinner beats De Minaur to win Canadian Open title
▼ + stars: | 2023-08-13 | by ( ) www.reuters.com time to read: +2 min

[1/5] Aug 13, 2023; Toronto, Ontario, Canada; Jannik Sinner (ITA) hoists the National Bank Open trophy after defeating Alex de Minaur (not pictured) in the championship game at Sobeys Stadium. Mandatory Credit: John E. Sokolowski-USA TODAY SportsTORONTO, Aug 13 (Reuters) - Italian seventh seed Jannik Sinner secured his first Masters 1000 title with a dominant 6-4 6-1 win over Australian Alex de Minaur in the Canadian Open final on Sunday. Sinner, appearing in his third Masters 1000 final after runner-up efforts at the Miami Open in 2021 and this year, broke De Minaur five times and saved two of four break points to lift the biggest title of his career. I was a break up a couple times and he broke back but I tried to stay calm mentally. I was prepared for a long battle," Sinner, the first Italian to win the event, said during his on-court interview.

Persons: Alex de Minaur, John E, Jannik Sinner, De, De Minaur, Sinner, Frank Pingue, Pritha Sarkar Organizations: National Bank, Sobeys, Sports TORONTO, Canadian, Miami, Wimbledon, Thomson Locations: Toronto , Ontario, Canada, Toronto

☆ Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
▼ + stars: | 2023-08-10 | by ( Yusuf Khan | ) www.wsj.com time to read: +12 min

“It’s definitely a [mining] renaissance,” said Rebecca Campbell, global mining and metals lead at law firm White & Case. “We’re trying to foster a permitting landscape that is both efficient and responsible.”In Europe, the mining renaissance comes after years of nearly no new mining activity on the continent. Left: A layer of spodumene within the host rock that Savannah Resources intends to mine. Savannah Resources, which has set up two offices in the municipality, has said it would strictly avoid that and instead build reservoirs to store rain water. That view is echoed by Savannah Resources.

Persons: COVAS, Portugal —, Barroso, BEL, mina ”, ”, Nelson Gomes, Covas, Alex Gorman, “, Nelson, YUSUF KHAN, “ It’s, Rebecca Campbell, ” “, Jayni Hein, Hein, “ We’re, Peel Hunt’s Gorman, Dale Ferguson, Gomes, Jessica Polfjärd, Polfjärd, Ana Fontoura Gouveia, Fontoura, ” Fontoura, Yusuf Khan Organizations: COVAS DO BARROSO, Associação, Peel, Vulcan Energy Resources, Adriatic Metals, White, Covington, Burling, Environmental, Council, Savannah Resources, Sustainable Business, Sweden’s Moderate Party, Serra Locations: Portugal, Porto, Boticas, Covas, It’s, Europe, Germany, Sweden, Bosnia, Finland, Greece, U.S, Savannah, London, spodumene, Serbia, China, yusuf.khan

☆ Lopez provisionally suspended for potential anti-doping rule violation -UCI
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Colombian rider Miguel Angel Lopez has been provisionally suspended for a potential anti-doping rule violation, the International Cycling Union (UCI) said on Tuesday. Lopez, currently of Colombian Team Medellin-EPM, has been notified of a potential violation for use and possession of a prohibited substance in the weeks prior to the Giro d'Italia in 2022, the UCI said in a statement. The material includes evidence obtained from Spanish law enforcement authorities and the Spanish Anti-Doping Organisation (CELAD) during an investigation into Marcos Maynar. He recently won the Colombian National Time Trial Championships. Reporting by Anita Kobylinska in Gdansk Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Miguel Angel Lopez, Lopez, Marcos Maynar, Qazaqstan, Anita Kobylinska, Toby Davis Organizations: International Cycling Union, UCI, Colombian Team Medellin, International Testing Agency, Doping, Astana, Tour de France, Tour de Suisse, Volta, Colombian, Thomson Locations: Colombian, Spanish, Espana, Catalunya, Gdansk

☆ Chile zoo celebrates birth of critically endangered Somali Wild Ass
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

[1/5] An African Somali wild foal, which was born in captivity, is shown in its enclosure for the first time to the public, as part of a conservation project of this animal in danger of extinction, at the Buin zoo, Santiago, Chile July 6, 2023. REUTERS/Ivan AlvaradoSANTIAGO, July 6 (Reuters) - A rare Somali Wild Ass foal was born in a Chilean zoo, sparking hope for a critically endangered species with less than 200 mature individuals left worldwide. The Buin Zoo in the southern outskirts of Santiago is taking part in an international effort to help restore the Somali Wild Ass population that the International Union for Conservation of Nature (IUCN) has classified as critically endangered. The remaining Somali Wild Ass population, according to the IUCN, is left in Eritrea and Ethiopia with the largest recorded subpopulation being just 17 individuals. "The bones are used in soups that supposedly have medicinal characteristics that hasn't been scientifically proven, but it's practically brought on the extinction of a beautiful species," Idalsoaga said.

Persons: Ivan Alvarado SANTIAGO, We're, Ignacio Idalsoaga, Idalsoaga, it's, Alexander Villegas, David Gregorio Our Organizations: REUTERS, Buin Zoo, International Union for Conservation of Nature, IUCN, Reuters, Thomson Locations: African Somali, Buin, Santiago, Chile, Chilean, Eritrea, Ethiopia, Somalia, Ita

☆ India's gearing up to be the new China, but even Elon Musk is finding it hard to crack into the market. Here are 5 reasons why.
▼ + stars: | 2023-06-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

India has overtaken China as the world's most populous country, and it's pushing for foreign investments. But foreign investors keen to enter the Indian market face various barriers to entry. Earlier this year, India overtook China as the world's most populous country. Among investors keen on investing in India are Tesla and SpaceX CEO Elon Musk, and tech giant Apple. But given the huge Indian market, Tesla isn't giving up.

Persons: —, Narendra Modi's, Elon Musk, Mark Mobius, Modi —, Modi, Musk, Ashutosh Sharma, Forrester, That's, Sharma, India's, Mukesh Ambani Organizations: Service, India, Indian, Tesla, SpaceX, US International Trade Administration, ITA, Bank, World Bank, US, Reliance Industries SpaceX, Reliance, Reuters, Ambani's Locations: India, China

☆ Elon Musk wants to bring Starlink to the Indian market — but he'll have to get around India's richest tycoon first
▼ + stars: | 2023-06-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Elon Musk said he hopes to bring SpaceX's Starlink satellite internet service to India. SpaceX is lobbying the government to assign licenses for satellite services, but Reliance is calling for a public auction. Elon Musk is eyeing the massive Indian market, saying he hopes to bring SpaceX's Starlink satellite internet service into the country after meeting with Prime Minister Narendra Modi earlier this week. Musk told reporters on Tuesday he was keen to launch Starlink in India as the service "can be incredibly helpful" in remote villages, per India's ANI agency. Reliance Jio vs. StarlinkThe two companies have different stances on how the Indian government's satellite broadband spectrum should be distributed, Reuters reported.

Persons: Elon Musk, He's, Mukesh Ambani, Narendra Modi, Musk, Ambani, Tesla, China, Modi —, — Organizations: Asia's, Reliance, SpaceX, Morning, Reliance Industries, He's, Bloomberg, Ambani's Reliance, Reuters, Ambani's, US International Trade Administration, ITA Locations: India, India's, China, Indian

London Metal Exchange (LME) three-month tin has been treading water in a $23,700-26,800 range since the start of May. Although the demand outlook remains subdued, tin supply is facing two big threats, one from Myanmar and one from Indonesia, the world's largest exporter. Global tin supply, meanwhile, is now improving after an early-year drop in Indonesia shipments. Refined tin production fell year-on-year in May and Guangxi China Tin Group, the world's sixth-largest tin producer, has just announced a 40-50 day maintenance break from the end of this month, according to the ITA. Indonesia currently only has enough downstream capacity to absorb 5% of its domestic tin production, meaning that any restrictions will likely come in phases.

Persons: Minsur, International Tin Association . Tin, It's, David Evans Organizations: London Metal Exchange, Global, Shanghai Futures Exchange, U.S, Global Semiconductor, HIT, World Semiconductor Trade Statistics, Local, United Wa State Army, International Tin Association ., ITA, Guangxi China Tin Group, Thomson, Reuters Locations: Midwest, London, imploding, Myanmar, Indonesia, Peruvian, United States, Europe MYANMAR, Wa, China, Wa State, Guangxi China, INDONESIA

One source for such items is Outlandish, the Crown Heights, Brooklyn, outfitter that opened in January. It was co-founded by Benje Williams and Ken Bernard, who are Black, expressly to encourage people of color to reconnect with the outdoors. The shop sells the necessary gear but also organizes hikes outside of the city and hosts a book club focused on works about nature by writers of color. He and his father, who hadn’t gone backpacking in 40 years, have been on three more trips since. For the adventurous dad, Williams recommends an ultralightweight stuff sack from Allmansright, whose backpacks and bags are handmade in the Bronx, or socks from the Brooklyn-based label William Ellery, which offers wool-blend pairs in nature-inspired colors with names like Chanterelle and Lichen.

Persons: Benje Williams, Ken Bernard, Williams, Benjamin, William Ellery, Daniella Manini, Jade, Jamaica Organizations: Father’s, New Locations: , Brooklyn, outfitter, Sierra Nevada, Allmansright, Bronx, Brooklyn, Peruvian, California, Ita, British Nigerian, New Yorker, Antigua, outlandish.nyc

"There's still discussion in Portugal how that privatisation will take place and it's not supposed to be 100 percent privatisation," Spohr told journalists at the annual meeting of the International Air Transport Association in Istanbul. At least three major global carriers, Lufthansa, Air France-KLM (AIRF.PA) and British Airways-owner IAG (ICAG.L), have shown an interest. Lufthansa said last month that it was taking a 41% stake in Italian carrier ITA Airways in the latest major consolidation in the aviation sector in Europe. "Boeing are saying it's delivery in late 24 or early 25 - which means it's early '25," Spohr said. Reporting by Joanna Plucinska and Tim Hepher; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Carsten Spohr, Joao Nuno Mendes, it's, Spohr, IAG, Joanna Plucinska, Tim Hepher, Susan Fenton Organizations: TAP, International Air Transport Association, Lufthansa, Air France, KLM, British Airways, ITA Airways, Boeing, Thomson Locations: ISTANBUL, Portugal, Istanbul, Europe

☆ Lufthansa sale is ironic end to Italy airline saga
▼ + stars: | 2023-05-26 | by ( ) www.reuters.com time to read: +2 min

MILAN, May 26 (Reuters Breakingviews) - Italy’s epic airline soap opera has found a paradoxical end. After multiple sale attempts by Italian governments of all political leanings, plus over 10 billion euros of wasted state support, it’s Prime Minister Giorgia Meloni – an avowed nationalist – who is cutting the umbilical cord with the country’s state-owned national carrier. The state will inject 250 million euros of equity in ITA before Lufthansa buys its initial minority stake. At 0.3 times projected 2023 revenue of 2.5 billion euros, the overall price tag is cheaper than the 0.5 times Lufthansa currently trades at, and also than the 1 billion euro-plus levels mooted last year. But Lufthansa CEO Carsten Spohr is still scooping up a supposed national treasure at an undemanding price.

☆ Rome Fiumicino seen as Lufthansa's new southern hub after ITA deal
▼ + stars: | 2023-05-26 | by ( Angelo Amante | ) www.reuters.com time to read: +3 min

Shares in Lufthansa were down 0.2% on Friday, a day after the airline and the Italian Treasury announced the ITA deal. A report from TRA consulting firm says some 43 million people travelled through Rome Fiumicino in 2019, before the COVID-19 outbreak, and the airport has potential to become an even stronger hub for the Mediterranean area. His report said this is due to the weakness of the national airline, and the integration of ITA into the Lufthansa group might help Fiumicino become an hub for travellers heading to the Americas. Lufthansa, which already operates the brands Swiss, Austrian Airlines and Brussels Airlines, said it would look to feed more passengers into Fiumicino airport. Analysts believe Lufthansa has good chances to boost Fiumicino, after fostering development of other airports it entered after its previous takeovers.

☆ I fly dozens of times a year, and save hundreds of dollars on airfare with a simple trick airlines don't want you to know about
▼ + stars: | 2023-05-19 | by ( Joseph Hostetler | Jasmin Baron | Credit Cards Reporter | ) www.businessinsider.com time to read: +25 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Read Insider's guide to the best travel rewards credit cards. There are even a handful of no-annual-fee travel credit cards that waive foreign transaction fees, such as the Capital One VentureOne Rewards Credit Card. Even if you travel just once or twice per year, you should have at least one travel rewards credit card. Note that credit card lenders may use many different variations of credit score models when considering your application.

☆ 4 of the world's elite investors agree on the biggest risks that will cause the next recession. Here's how they're each protecting clients with over half a trillion in combined assets.
▼ + stars: | 2023-05-05 | by ( William Edwards | Akin Oyedele | ) www.businessinsider.com time to read: +6 min

Below, we've their quotes on the subjects, along with how they said they're protecting their clients' money. I think it is a good chance, more than a little bit, that there will be a conflict, an invasion of Taiwan. Where to invest now: Roeper said he's bullish on aerospace companies because they're having a "pretty solid recovery" right now. The Vanguard Total Bond Market ETF (BND) offers exposure to different areas of the bond market. Where to invest now: Blake said he likes hybrid bonds, investment-grade bonds over a six-12 month duration, and private credit.

SAS has lost almost 60% of its value since it filed for Chapter 11 bankruptcy protection last July, seeking to slash costs and debt after wage talks with pilots collapsed. Apollo will mainly work with aviation regulators in Sweden and Denmark to secure approval, the first source said. The move comes as the airline looks for large investors and seeks to raise equity as part of its Chapter 11 bankruptcy plan. Denmark's finance ministry told Reuters it was looking for one or more shareholders to take a majority stake in SAS. The company also became the largest shareholder in Mexican airline Aeromexico (GRPAF.PK) in 2020 following Chapter 11 bankruptcy proceedings.

☆ 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.

The new world order is pushing aerospace and defense stocks higher, for better or for worse, says Ritholtz Wealth Management CEO Josh Brown. Shares of defense contractor Lockheed Martin were up 2.7% to a record on Tuesday afternoon. He added that a "rejiggering" of the geopolitical landscape in other regions, such as East Asia, has also led to defense stocks having a breakout moment. "Outside of Boeing, everything else in this thing makes helicopters and missiles," Brown said, speaking about the ITA. ITA LMT 1Y mountain iTA ETF and Lockheed Martin shares are up Correction: Josh Brown is CEO of Ritholtz Wealth Management.

The Russian called himself a "hard court specialist" at Indian Wells last month while complaining about the slow speed of the courts and it is hard to argue with his expertise. "I love hard courts. If it would be my choice, it would be only hard courts," he told reporters. Even if I know that I can play well enough on the grass and clay, on hard courts I feel the most fluid. "The earlier you lose in Miami, the more clay court practice you can get," he told Tennis Channel.

[1/5] Apr 2, 2023; Miami, Florida, US; Daniil Medvedev celebrates with the Butch Buchholz championship trophy after his match against Jannik Sinner (ITA) (not pictured) in the men's singles final on day fourteen of the Miami Open at Hard Rock Stadium. Mandatory Credit: Geoff Burke-USA TODAY SportsApril 2 (Reuters) - Daniil Medvedev beat Italy's Jannik Sinner 7-5 6-3 to win the Miami Open on Sunday for his fourth title of the year and 19th overall. Medvedev broke Sinner for 3-1 in the second set and cruised from there, his powerful groundstrokes and impenetrable defense carrying him to the finish. With the win Medvedev earned his fifth Masters 1000 title and improved to 6-0 lifetime against Sinner. Sinner, who also made the Miami final in 2021, is still searching for his first Masters 1000 title.

Soldering demand from the electronics sector remains weak and investors in London and Shanghai continue to play the market from the short side. Surging purchases of electronic goods during lockdown were followed by sharply reduced spending as many Western consumers were hit by a cost-of-living squeeze. LME positioning reports show both investment funds and other financial players are currently net short of the London tin contract after the early-year rally went into reverse. LME tin price, stocks and cash-3s spreadSHANGHAI STOCKS UP, LONDON STOCKS DOWNReasons to be negative are more obvious in China. ShFE registered tin stocks have risen by 60% to 8,745 tonnes since the start of January.

BRUSSELS, March 27 (Reuters) - Alitalia, the predecessor of Italian state-owned airline ITA Airways, will have to repay a 400 million-euro ($430 million) loan to the Italian government because the money breached EU state aid rules, EU competition authorities said on Monday. Italy granted the loan in 2019, two years after giving a 900 million-euro loan to keep the loss-making company operating. The European Commission, which acts as the competition watchdog in the 27-country bloc, subsequently ruled that both loans constituted illegal state aid. The Commission had in 2021 it ordered Alitalia to repay the 900-million-euro illegal loan. Successive governments pumped an estimated 10 billion euros into Alitalia to keep it afloat in its last 14 years of life, despite heavy losses and bad management.

☆ Alcaraz routs Medvedev in Indian Wells final, reclaims No. 1 ranking
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +3 min

[1/2] Mar 18, 2023; Indian Wells, CA, USA; Carlos Alcaraz (ESP) hits a shot in the semi final match defeating Jannik Sinner (ITA) in the BNP Paribas Open at the Indian Wells Tennis Garden. Mandatory Credit: Jayne Kamin-Oncea-USA TODAY SportsMarch 19 (Reuters) - Top seed Carlos Alcaraz snapped Daniil Medvedev's 19-match win streak with a 6-3 6-2 rout in the Indian Wells final on Sunday that will see him leapfrog Novak Djokovic and return to world number one in the rankings. Alcaraz did not drop a set across six matches in the tournament and his performance in the California desert gives him an added boost of confidence ahead of his Miami Open title defence. Djokovic withdrew from the draw for the Indian Wells event in an indication that his application for a COVID-19 vaccine waiver to enter the U.S. might have failed. The Serbian has also withdrawn from the Miami Open.

☆ Italy's Treasury sets up new department for state-run companies
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

ROME, March 16 (Reuters) - Italy approved on Thursday a decree to create a new department at the economy ministry in charge of managing state-controlling companies such as energy groups Enel (ENEI.MI) and Eni . Economy Minister Giancarlo Giorgetti announced the scheme in January as part of efforts to tighten the government's grip on key companies dealing with some of the most delicate corporate issues facing Italy. Under the scheme, the influential Treasury department within the ministry, led by veteran economist Riccardo Barbieri, will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. The newly created "economic department" will have its own director general and will handle the decision-making process regarding state-controlled firms, public assets and public guarantees on banking loans. Rome is expected to decide on the chairperson and CEO positions of these firms by the end of next week, government sources said.

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