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☆ AI is consuming corporate tech spending budget, with most going to employee adoption
▼ + stars: | 2024-06-20 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

Among companies spending on AI, roughly four times as many are investing in employee-facing AI projects rather than customer apps, the survey also found. Sixty percent of the select group of companies responding to the survey described generative AI as critically important to their business, and artificial intelligence is the single-largest technology spending budget line item for the next year at 44% of companies. Cleaning up the vast amount of data already stored on a corporate enterprise is a process that could take a few years. "A lot of the spending on gen AI today does feel like it's more about prioritizing spending ... clients are focused on transforming using technology, data and AI, so a lot of what's driving our sales is getting ready for AI. We're seeing a lot of modern platforms being put in place because if you can't access your data, you're not going to be able to take advantage of AI," Sweet said.

Persons: Charles Giancarlo, Julie Sweet, Sweet Organizations: CNBC Technology, CNBC, Accenture

☆ AI will put pressure on company spend but data storage 'will still be needed', says Pure Storage CEO
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI will put pressure on company spend but data storage 'will still be needed', says Pure Storage CEOCharles Giancarlo, Pure Storage CEO, joins 'Closing Bell Overtime' to talk quarterly results, what's ahead as AI demand grows and more.

Persons: Charles Giancarlo Organizations: Pure

☆ Summer movie preview 2024: Sequels, some superheroes and more sequels are upon us
▼ + stars: | 2024-05-24 | by ( Dan Heching | ) edition.cnn.com time to read: +19 min

‘Summer Camp’ (May 31)Kathy Bates, Diane Keaton and Alfre Woodard in "Summer Camp." The movie, costarring Vanessa Hudgens, follows 2020’s “Bad Boys for Life” (it seems that title’s promise didn’t quite stick). The film looks dutifully creepy, and stars the talented Dakota Fanning (“Ripley”) as an artist who finds herself in a strange forest in Ireland. ‘Cuckoo’ (August 2)Hunter Schafer in “Cuckoo.” NEONStarring “Euphoria’s” Hunter Schafer in her first lead film role, this horror film looks positively creepy and a bit, well, cuckoo. ‘Blink Twice’ (August 23)A scene from “Blink Twice.” MGMJam packed with a starry cast, “Blink Twice” looks like a perfect late summer movie – attractive people, elaborate action sequences, and mindless mayhem.

Persons: Tom Burke, Anya Taylor, Joy, “, Max, ” Jasin Boland, Warner Bros . Pictures George Miller’s, Mad Max, Max Saga ”, Charlize Theron, ’, Furiosa, Chris Hemsworth, ‘, Garfield, Chris Pratt, Mario, “ Garfield, ”, Pratt, Samuel L, Jackson, Ving Rhames, Nicholas Hoult, Ted Lasso’s ” Hannah Waddingham, Brett Goldstein, Cecily Strong, Bowen Yang, ‘ Ezra ’, Robert DeNiro, Boby Cannavale, William A, Fitzgerald, “ Ezra, ” Wayferer, Robert De Niro, Bobby Cannavale, Rose Byrne, Whoopi Goldberg, Vera Farmiga, Tony Goldwyn, Ezra, Lokiz, Kathy Bates, Diane Keaton, Alfre Woodard, Quantrell Colbert, Eugene Levy, ” Keaton, Martin Lawrence, Will Smith, Frank Masi, Sony Pictures Will Smith, costarring Vanessa Hudgens, Georgina Campbell, Dakota Fanning, “ Ripley, Franka Potente, Tom Tykwer, “ Lola ”, –, Marks, Lola, Pixar’s Oscar, Riley, Amy Poehler, Maya Hawke, Stephen Fry, Lena Dunham, “ Wilde, Hong Chau, Jesse Plemons, Atsushi Nishijima, Oscar, Emma Stone, Yorgos Lanthimos, ” costarring Willem Dafoe, Margaret Qualley, Joe Alwyn, Mamoudou, Hunter Schafer, Jodie Comer, Austin Butler, Kyle Kaplan, Elvis, Butler, Costarring Tom Hardy, ‘ Thelma ’, Squibb, Fred Hechinger, Thelma, “ Thelma ”, Lupita, Gareth Gatrell, John Krasinski’s, Lupita Nyong’o, Joseph Quinn, Hounsou, Jamie Campbell Bower, Kevin Costner, Richard Foreman, Warner, ” Kevin Costner, Steve Carell’s, Well Ferrell, Mia Goth, Halsey, ” Justin Lubin, MaXXXine ”, Pearl ”, Elizabeth Debicki, Michelle Monaghan, Lily Collins, Giancarlo Esposito, Kevin Bacon, Scarlett Johansson, Channing Tatum, Dan McFadden, maven, Woody Harrelson costars, Longlegs ’, Maika Monroe, Nicolas Cage, Daisy Edgar, Jones, Anthony Ramos, Glen Powell, Melinda Sue Gordon, Bill Paxton, Helen Hunt, ‘ Deadpool, Ryan Reynolds, Hugh Jackman, Wolverine, Logan, Deadpool, Dìdi ’, Izaac Wang, “ Didi, ‘ Harold, Rel Howery, Benjamin Bottani, Zachary Levi, Harold, Hopper Stone, Crockett Johnson, “ Harold ”, “ Euphoria’s ” Hunter Schafer, Schafer, Dan Stevens, David “, ” Giraudy, Sean San José, Colman Domingo, “ Rustin, ” Colman Domingo, Domingo, ‘ Kneecap ’, ” Curzon, that’s, Michael Fassbender, Josh Hartnett, Ariel Donoghue, Sabrina Lantos, hasn’t, Taylor Swift, Justin Baldoni, Blake Lively, Nicole Rivelli, Colleen Hoover, Costarring Justin Baldoni, Jenny Slate, Hasan Minhaj, Cate Blanchett, Ariana Greenblatt, Kevin Hart, Florian Munteanu, Jamie Lee Curtis, they’re, “ Barbie, Romulus ’, David Jonsson, Andy, Romulus, Fede Alvarez, Priscilla ”, Spaeny –, Sigourney Weaver, Elliot Page, ” Elliot Page, Sam, Costarring Hillary Baack, Wendy Crewson, Channing Tatum’s, Naomi Ackie, Alia Shawkat, Kyle MacLachlan, Christian Slater, Haley Joel Osment, Geena Davis, Zoë Kravitz, Bill Skarsgard, Larry Horricks, Brandon Lee, James O’Barr, soulmate Shelly, Casey Affleck, Laurence Fishburne, Bleecker, Bleecker Street Laurence Fishburne, Saturn, ‘ Reagan ’, Dennis Quaid, Reagan, Rawhide Pictures Dennis Quaid, Ronald Reagan, Penelope Ann Miller, Nancy Reagan Organizations: CNN, Labor, Warner Bros . Pictures, Fury, Garfield, Mario Bros, Academy, ”, Sony Pictures, Warner Bros, Apple, Pixar, Searchlight, Magnolia Pictures, Squibb, “ Nebraska, Paramount Pictures, “, Sony, FBI, Lambs, Universal Pictures, Marvel, Century Fox, Disney, Columbia, Sundance, Warner Bros ., Lionsgate, Galaxy, Oscar, MGM, Bleecker Street, Rawhide Pictures Locations: Hollywood, New York City, Ireland, Berlin, “, Poland, Hong, 60s Chicago, “ MaXXXine, “ Longlegs, New York State, ‘, United States

☆ Ukraine war live updates: Russia cannot swallow the West whole, Orban says; G7 finance chiefs meet with Ukraine on agenda
▼ + stars: | 2024-05-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Governor of the Bank of Italy Fabio Panetta (L), Italy's Minister of Economy and Finance Giancarlo Giorgetti (R) and President of the European Central Bank Christine Lagarde pose on the sidelines of the G7 Finance Ministers meeting in Stresa on May 24, 2024. Earlier this week, U.S. Treasury Secretary Janet Yellen told Sky News she saw the "possibility" that G7 nations could assist Ukraine with as much as $50 billion in loans linked to frozen Russian assets. "The Russian assets are not earning interest anymore, but they are generating returns for Euroclear. That alone could be given to Ukraine that would be repaid over several years by that flow of interest," Yellen added. It remains to be seen whether G7 nations can strike consensus on such a loan and what final sum will be extended to support Kyiv's military effort.

Persons: Bank of Italy Fabio Panetta, Finance Giancarlo Giorgetti, European Central Bank Christine Lagarde, Janet Yellen, Yellen Organizations: Bank of Italy, Italy's, Economy, Finance, European Central Bank, Ukraine, Treasury, Sky News, Euroclear Locations: Stresa, Italy, Ukraine

Read previewWall Street is investing big in artificial intelligence — and that's good news for machine-learning engineers and other tech talent. Hirsch said that investment banks are hiring AI engineers to build in-house tools that they can use "across their trading, research, and risk-management functions." The 8 banks reviewed are JPMorgan Chase, Bank of America, UBS, Citibank, Barclays, Deutsche Bank, Goldman Sachs, and Morgan Stanley. We pulled data for roles containing keywords like "AI," "data science," "machine learning," and "prompt." AdvertisementCheck out data-science and AI salaries for JPMorgan, Goldman Sachs, Citi, Bank of America, and other investment banks:

Persons: —, JPMorgan Chase, Jamie Dimon, Dimon, Gil Perez, Giancarlo Hirsch, Hirsch, Goldman Sachs, Morgan Stanley Organizations: Service, JPMorgan, Business, Deutsche Bank, Wall, of Foreign Labor, JPMorgan Chase, Bank of America, UBS, Citibank, Barclays, Department, Labor, Citi Locations: America

Nvidia Eddie George picked chipmaker darling Nvidia for its long-term prospects. Oracle shares are up roughly 9% this year. Apple George selected Apple for his second pick. Faced with waning demand and rising competitive pressures, Apple stock has shed nearly 12% this year, making it a weak link among the "Magnificent Seven" tech cohort. The company's legacy of sustainable excellence has also paved the way for cutting-edge technology like Apple Pay and the Apple Watch.

Persons: gunning, Breanna Stewart, Stewart, Mark Zuckerberg, Nvidia Eddie George, George, Jensen Huang, Charlotte Flair, Flair, Oz Pearlman, bitcoin, Pearlman, It's, Caterpillar's, Ekeler, Schulman, Carter, Microsoft Jillian Michaels, Giancarlo Chersich, Michaels, Nancy Pelosi's, Oracle Joey Chestnut, Larry Ellison, Wall, DraftKings, Karen Finerman, Apple George, Apple, DraftKings Eddie George, Apple Charlotte Flair, IBM Oz Pearlman, Carvana Austin, Intel Nev Schulman, Crocs Jillian Michaels, Google Joey, Starbucks Kenny, Smith Organizations: Meta, Nvidia, Tennessee Titans, Tennessee State University, Computer WWE, Computer, Micro, IBM, bitcoin, Caterpillar, Washington, Microsoft, Oracle, FactSet, CNBC, Apple, Apple Watch, Intel, JPMorgan Druski, Nike, Google, Starbucks, Warner Bros, Delta Air Locations: American, Nashville

☆ AI fever is triggering a new hunt for tech talent on Wall Street. 5 recruiters outline in-demand tech roles that can pay from $250,000 to $2 million.
▼ + stars: | 2024-04-09 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWall Street firms are switching into hiring gear. Banks, hedge funds, and private equity firms are back on the hunt for tech talent, several recruiters told Business Insider. Across the Street, finance firms are witnessing the AI transformation being led by tech giants like OpenAI and Nvidia. Hodzic added that, on average, the technology business at Selby Jennings is registering 25% more job orders a week compared to this time last year.

Persons: —, Giancarlo Hirsch, Deepali Vyas, she's, Vyas, Ben Hodzic, Selby Jennings, Hodzic, Glocomms, Hirsch, whittle, Banks, Andy Legg, Dennis Baden, Baden, Korn Ferry's Vyas Organizations: Service, Finance, Business, Blackstone, JPMorgan, Vyas, Nvidia, They're, Wall, Riviera Partners, Google, Banks Locations: Selby

☆ MLB Opening Day: 2024 regular season kicks off in full with Shohei Ohtani cloud looming
▼ + stars: | 2024-03-28 | by ( Ben Morse | ) edition.cnn.com time to read: +6 min

CNN —Although fans have been treated to a glimpse of MLB action, the 2024 season kicks off in full on Thursday with Opening Day. How to watchThe Opening Day slate of games takes place on Thursday, March 28, with 26 teams taking to the field. The Baltimore Orioles and the Los Angeles Angels kick off the day’s action at 3:05 PM ET at Camden Yards in Maryland. Ohtani cloud overshadows Dodgers startThe majority of the Los Angeles Dodgers offseason was dominated with optimism and talk of a World Series challenge after the acquisition of two-time MVP Shohei Ohtani and pitching phenom Yoshinobu Yamamoto. Ohtani prepares for a pitch during the Dodgers' preseason game against the Los Angeles Angels.

Persons: Tuesday’s Francis Scott Key, Shohei Ohtani, phenom Yoshinobu Yamamoto, Ohtani, Ippei, Mizuhara, Yamamoto, Mookie Betts, Freddie Freeman, Will Smith, Tyler Glasnow, Walker Buehler, Harry, Juan Soto, Soto, Aaron Judge, Giancarlo Stanton, Gerrit Cole, Stanton, Nathan Ray Seebeck, Ronald Acuña Jr, Acuña, Tim Nwachukwu, Wyatt Longford Organizations: CNN, Seoul, Los Angeles Dodgers, San Deigo Padres, MLB, Baltimore Orioles, Los Angeles Angels, Camden, Orioles, Dodgers, ESPN, Los Angeles Times, baseball’s, League, St, Louis Cardinals, Bronx Bombers, New York Yankees, Yankees, San Diego Padres, San, American League, Houston Astros, Judge, Atlanta Braves, Philadelphia Phillies, National League, Braves, NL, Phillies, National, Texas Rangers, Chicago Cubs, Washington Nationals, Cincinnati Reds, San Francisco Giants, Toronto Blue Jays, Tampa Bay Rays, Minnesota Twins, Kansas City Royals, Detroit Tigers, Chicago White Sox, Pittsburgh Pirates, Miami Marlins –, Cleveland Guardians, Oakland Athletics –, Colorado Rockies, Arizona Diamondbacks, Boston Red Sox, Seattle Mariners, Milwaukee Brewers, New York Mets, @ @ @ @ @ @ @ @ @ Locations: South Korea, Camden Yards, Maryland, Seoul, Ohtani, San Diego, Atlanta, Texas

☆ Valentino's creative director Pierpaolo Piccioli is stepping down after 25 years with the fashion house
▼ + stars: | 2024-03-22 | by ( Amanda Krause | ) www.businessinsider.com time to read: +2 min

Pierpaolo Piccioli is stepping down from his role as creative director of Valentino. He joined the company in 1999 and became the sole creative director in 2016. After 25 years with the fashion house, Pierpaolo Piccioli is leaving the brand — specifically stepping down from his role as creative director, which he's held for the past eight years. After graduating from the Istituto Europeo di Design school, Piccioli met his creative partner, Maria Grazia Chiuri, in the 1980s, according to BoF. But when Chiuri left for Dior in 2016, Piccioli held the Valentino role on his own.

Persons: Valentino, Piccioli's, —, he's, Piccioli, Maria Grazia Chiuri, Chiuri, Pierpaolo, Maison Valentino, Jacopo Venturini, Giancarlo Giammetti Organizations: Service, Fashion, Istituto, Design, British Vogue, Dior Locations: Fendi, British

☆ Two Artists Make a Home for Their Family, and Their Collection
▼ + stars: | 2024-03-18 | by ( Max Berlinger | Stefan Ruiz | ) www.nytimes.com time to read: 1 min

In the primary bedroom of the artists Rashid Johnson and Sheree Hovsepian’s townhouse in Manhattan’s Gramercy Park, a 2015 Thomas Houseago sculpture, a 2021 Henry Taylor portrait of Hovsepian, a Campana brothers Bolotas sofa and Racket chair, a custom dresser by Robert Pluhowski, a Giancarlo Valle coffee table, a black leather Martin Eisler chair and shades and walls upholstered in Zeist brocatelle by Prelle. Credit... Stefan Ruiz. Artwork, from left: Thomas Houseago, “Psychedelic Brother Mask (Architecture I)” (2015) © Thomas Houseago, courtesy of Gagosian; Henry Taylor, “Untitled” (2021) © Henry Taylor, courtesy of the artist and Hauser & Wirth

Persons: Rashid Johnson, Thomas Houseago, Henry Taylor, Hovsepian, Campana, Robert Pluhowski, Giancarlo Valle, Martin Eisler, Stefan Ruiz, “ Organizations: Prelle, Hauser & Wirth Locations: Prelle .

After last week’s Golden Globes and Sunday evening’s Critics Choice Awards, Monday sees the third major Hollywood red carpet event in just eight days, as the 75th Primetime Emmy Awards get underway at LA’s Peacock Theater. See below for some of the red carpet’s best looks so far. Frazer Harrison/Getty ImagesKourtney Kardashian and Travis Barker Neilson Barnard/Getty ImagesAyo Edebiri in Louis Vuitton. Neilson Barnard/Getty ImagesAli Wong in Louis Vuitton. Neilson Barnard/Getty Images

Persons: Monday, Rachel Brosnahan, Bella Ramsey, Abbott, Quinta Brunson, Tyler James Williams —, Jenna Ortega Neilson Barnard, Jessica Chastain Richard Shotwell, Aubrey, Jay, Anthony Anderson Gilbert Flores, Sarah Snook Richard Shotwell, Rachel Brosnahan Richard Shotwell, Donald Glover Frazer Harrison, Hannah Waddingham Mike Blake, Simona Tabasco Gilbert Flores, Martin, Selena Gomez, Steve Martin Neilson Barnard, Ariana DeBose Frazer Harrison, Sam Richardson Jordan Strauss, Katherine Heigl Kevin Mazur, Issa Rae, Pamella Roland, Frazer Harrison, Kourtney Kardashian, Travis Barker Neilson Barnard, Louis Vuitton, Neilson Barnard, Ali Wong, Richard Shotwell, Riley Keough, Priscilla Presley Mike Blake, Claire Danes Robyn Beck, Christina Ricci Mike Blake, Giancarlo Esposito Neilson Barnard, Padma Lakshmi, Reuters Niecy Nash, Jeffrey Dahmer, ”, Constantine, Jenna Lyons Frazer Harrison, Joel Kim Booster, Todd Snyder, Gilbert Flores, Dominique Fishback, Miu, Liv Hewson, Joy, Kevin Mazur, Emma Brooks, de Milo Organizations: CNN, Globes, Los Angeles Times, Variety, Getty, New York, Reuters, State Locations: Louis, AFP, New, Aude, “

☆ The best red carpet looks from the British Fashion Awards 2023
▼ + stars: | 2023-12-05 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

CNN —On Monday night, the British Fashion Council orchestrated its annual British Fashion Awards — a star-studded ceremony in London aimed at encouraging new, trailblazing designers, as well as honoring stalwarts of the industry. Across the red carpet, sequins, velvet and red tones conquered in what was a decidedly festive sartorial palette. Gareth Cattermole/Getty ImagesAnne Hathaway stunned onlookers in vintage Valentino. Gareth Cattermole/Getty ImagesRita Ora wore Primark, a nod to her latest collaboration with the high-street retailer. Gareth Cattermole/Getty ImagesPamela Anderson rocked the no makeup look once more, wearing a Gareth Cattermole/Getty Images Europe/Gareth Cattermole/Getty Images

Persons: Anne Hathaway, Gwnyeth Paltrow, Pamela Anderson, Taylor Russell, Paloma Elsesser, Kate Moss, Alexa Chung, Laura Whitmore, Sam Smith, Iris Law, Vivienne Westwood, Caroline Rush, Richard Quinn, Queen Elizabeth II, Neil Mockford, Loewe, Gareth Cattermole, Amal Clooney, Versace, Joe Maher, Dominic Lipinski, Lewis Hamilton, Wales Bonner, Getty, Michaela Coel, Suki Waterhouse, David Fielden, Valentino, Gwyneth Paltrow, Paltrow, Valentino Garavani, Giancarlo Giammetti, Gillian Anderson, Rita Ora, Isamaya Ffrench Organizations: CNN, British Fashion Council, Alexa, Getty Locations: London, British, LA, Europe

☆ Pure Storage CEO Charles Giancarlo talks quarterly earnings
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPure Storage CEO Charles Giancarlo talks quarterly earningsCharles Giancarlo, Pure Storage CEO, joins 'Closing Bell Overtime' to talk quarterly results, moving to a subscription model, AI and more.

Persons: Charles Giancarlo Organizations: Pure

☆ Italy's Salvini says would consider a sound plan to sell railway stake
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Matteo Salvini, Italian infrastructure minister and deputy PM, attends a news conference for the government's first budget in Rome, Italy November 22, 2022. On Monday Salvini, who is also deputy prime minister, was quoted as saying that he was against selling a stake in the company. But in comments at the Foreign Press Association in Rome, he said his 'no' had referred to the absence of any current sale plans for Ferrovie dello Stato (FS). "If there were an (asset sale) plan that could bring me added value, investments, money ... ($1 = 0.9128 euros)Reporting by Alvise Armellini, writing by Gianluca Semeraro; editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Matteo Salvini, Remo Casilli, Salvini, Giancarlo Giorgetti, Alvise Armellini, Gianluca Semeraro, Gavin Jones Organizations: REUTERS, Rights, Transport, Ferrovie dello Stato, Foreign Press Association, FS, Economy, Salvini's League, Thomson Locations: Rome, Italy, Italian, privatisations

Enel, hitherto the world's biggest listed renewables developer, plans 35.8 billion euros ($39 billion) of gross capital expenditure in its plan to 2026, of which nearly 19 billion euros will help to modernise and make its networks more resilient. Shares in the state-controlled power group were down 0.4% at 1530 GMT paring a 1% initial loss on the Milan bourse and underperforming a nearly flat blue-chip index. Rising indebtedness was one of the reasons why the Italian government, which is the single biggest shareholder in Enel, decided to oust the group's previous CEO, Francesco Starace. New CEO Flavio Cattaneo pledged to spend only the cash generated by the business, without increasing the debt pile. The group will devote some 3 billion euros to actively manage its customer portfolio through bundled offers, which will include different commodities and services.

Persons: Antonio Parrinello, Enel, Francesco Starace, Flavio Cattaneo, Cattaneo, Stefano De Angelis, Starace, Francesca Landini, Giancarlo Navach, Keith Weir, Giulia Segreti, Elaine Hardcastle, Jonathan Oatis Organizations: REUTERS, Milan bourse, Thomson Locations: Catania, Italy, MILAN, Milan, Enel

☆ More than 200 mobsters jailed in one of Italy’s biggest mafia trials
▼ + stars: | 2023-11-20 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +2 min

Rome CNN —An Italian court has sentenced more than 200 crime gang members to a total of 2,200 years in prison, following the country’s largest mafia trial in three decades. It took the court one hour and 40 minutes to hand down its rulings, Italian news outlet Ansa reported. Among those tried were 42 women – a record for a mafia trial – of whom 39 were convicted. The trial took place in a specially-built bunker in Lamezia Temre, southern Italy, amid safety concerns. Valeria Ferraro/APThe mobsters were affiliated with Italy’s notorious ’Nrangheta crime group and were convicted of mafia association, extortion, bribery and five murders.

Persons: Rome, Rome CNN —, –, ” “, Giancarlo Pittelli, Giorgio Naselli, Michele Marinaro, Gianluca Callipo, Luigi Incarnato, Pietro Giamborino, Valeria Ferraro, Scott, Scott W, Sieben Organizations: Rome CNN, onetime Forza Italia, CNN, Italy’s, United, Italian DIA, Mafia Locations: Lamezia Terme, Temre, Italy, United States, Italian, Calabria

MPS shares were down 7.8% at 2.83 euros by 1145 GMT on Tuesday, reflecting the impact of the sale. EU COMMITMENTSBofA Securities, Jefferies and UBS Europe coordinated the accelerated bookbuilding for the stake sale, the Treasury said in a statement. Commitments Italy agreed with European Union competition authorities at the time of the bailout bind Rome to eventually sell its entire stake in the bank. Two years ago heavyweight UniCredit (CRDI.MI) sank the government's privatisation efforts, forcing Rome to seek more time from the EU. The stake sale is seen as giving Italy more flexibility to pursue a long-term solution for MPS via a merger with a rival, after negotiations with UniCredit were complicated by an impending re-privatisation deadline.

Persons: Jennifer Lorenzini, Luigi Lovaglio, Giancarlo Giorgetti, Giorgia Meloni, Valentina Za, Lincoln, Richard Chang, Mark Potter Organizations: Monte, REUTERS, Treasury, MPS, BofA Securities, Jefferies, UBS Europe, European Union, Reuters, Economy, Banco, BPER Banca, EU, Thomson Locations: Monte dei, Siena, Italy, MILAN, Rome

☆ Moody's lifts Italy's debt outlook to stable in boost for Meloni govt
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - Moody's on Friday left Italy's sovereign debt rating at Baa3, one notch above junk, but upgraded the outlook to stable from negative, in an unexpected boost for Prime Minister Giorgia Meloni's government. Most analysts had expected the agency to leave both Italy's rating and outlook unchanged. Moody's had put the euro zone's third-largest economy on a negative outlook in August last year following a government collapse and in the midst of an energy crisis. "The decision to change the outlook to stable from negative reflects a stabilisation of prospects for the country's economic strength, the health of its banking sector and the government's debt dynamics," Moody's said. The European Commission forecast on Wednesday that Italy's debt, proportionally the second-highest in the euro zone, would rise marginally from a projected 140% of national output this year to 141% in 2025.

Persons: Giorgia, Moody's, DBRS, Fitch, Giancarlo Giorgetti, Gavin Jones, Keith Weir, Shounak Dasgupta, Rosalba O'Brien Organizations: P, Economy, Analysts, Saikeerthi, Thomson Locations: Italy, Germany, Bengaluru

☆ No. 10 FAU puts up 100 in rout of Eastern Michigan
▼ + stars: | 2023-11-15 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/46] Nov 14, 2023; Boca Raton, Florida, USA; A detailed view of the Final Four Banner at Eleanor R. Baldwin Arena prior to a game between the Florida Atlantic Owls and the Eastern Michigan. Mandatory Credit: Rich Storry-USA TODAY Sports Acquire Licensing RightsNovember 15 - Vladislav Goldin scored 19 points and grabbed five rebounds to lead No. 10 Florida Atlantic to a 100-57 win over Eastern Michigan on Tuesday in Boca Raton, Fla.Goldin made 9 of 12 shots from the field in just 20 minutes of action. Tyson Acuff scored 20 points and Legend Geeter had 13 points and five rebounds in defeat for Eastern Michigan (1-2). Florida Atlantic took control of the game early, going on a 18-3 run over a span of 4:08 to take a 20-5 lead.

Persons: Eleanor R, Rich Storry, Vladislav Goldin, Goldin, Brandon Weatherspoon, Giancarlo Rosado, Brenen, Bryan Greenlee, Nick Boyd, Weatherspoon, Greenlee, Tyson Acuff, Geeter, Tre Carroll Organizations: Boca, Baldwin, Florida Atlantic Owls, Florida Atlantic, Eastern Michigan, Brenen Lorient, Owls, Eagles, Goldin ., Goldin . Florida Atlantic, Lorient, Thomson Locations: Boca Raton , Florida, USA, Eastern Michigan, Florida, Boca Raton, Fla, Goldin . Florida

☆ Italy Finance Minister evokes default risk to defend bank measures
▼ + stars: | 2023-11-14 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

Minister of Economic Development Giancarlo Giorgetti attends the first voting session at the lower house of parliament to elect the new speaker in Rome, Italy, October 13, 2022. "In two or three years' time, when I may not be around but there will be a default crisis, perhaps someone will say that our government was not so crazy," Giorgetti said, without giving further details of this scenario. The average default rate for Italian companies rose for the first time in nearly decade in 2022 to stand at 2.4% in December, compared with a record low of 1.6% in December 2021, credit data company CRIF said last month. The rate has edged up in the first half of 2023 to 2.5%, CRIF added, forecasting it could get to 3% by the end of 2023. ($1 = 0.9346 euros)Additional reporting by Valentina Za in Milan; Editing by Gareth Jones and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Giancarlo Giorgetti, Guglielmo Mangiapane, Giorgetti, CRIF, Valentina Za, Gareth Jones, Alexander Smith Organizations: Economic, REUTERS, Italian Economy, Hamas, Thomson Locations: Rome, Italy, ROME, Italian, Europe, Israel, Ukraine, Milan

The option however is not top of the list for the Treasury, one of the sources added. Announced in May, Eni's share buyback is underway and is expected to increase the government's total stake to just above 34% of voting shares. Once completed, the Treasury could potentially sell enough shares for Italy to remain slightly over 30% of Eni's capital when factoring in CDP's stake, another source said. At current market prices, 4% of Eni is worth around 2 billion euros ($2.14 billion). Eni's share buyback is expected to end before April 2024 after the group said last month it would speed up the programme launched to reward investors.

Persons: Chris Helgren, Italy's, Eni's, Lucia Albano, Giancarlo Giorgetti, Jan Harvey Organizations: Eni, REUTERS, MILAN, Italy's Treasury, Bankers, Treasury, European Union, Economy, Ferrovie dello Stato, Thomson Locations: Vancouver , British Columbia, Canada, Rome, Italy, dei

Nov 7 (Reuters) - Agricultural and construction machinery maker CNH Industrial on Tuesday lowered its 2023 revenue forecast, citing a softening for its farm machinery, predominantly in South America, sending its shares plummeting. A Milan-based trader told Reuters European funds were also selling the stock ahead of CNH's delisting from the Milan bourse. The Italian-American company lowered its net revenue forecast from industrial activities, which accounts for the majority of CNH's revenue, of between 3-6% this year, down from a previous forecast of 8-11%. CNH, which houses brands such as Case IH and New Holland, reported third-quarter net sales from industrial activities down 1% year on year at $5.33 billion. CNH, which also announced a new share buyback programme as part of plans to achieve single listing on the New York Stock Exchange, reported quarterly adjusted operating profit from industrial activities of $657 million, down from $670 million a year earlier.

Persons: Scott Wine, Alessandro Parodi, Giancarlo Navach, Bianca Flowers, Kirsten Donovan, David Goodman, David Evans Organizations: Reuters, Milan bourse, Deere, Co, Caterpillar Inc, IH, South, New York Stock Exchange, Thomson Locations: South America, Milan, New York, American, New Holland

☆ Italy picks UBS, Jefferies, Clifford Chance for MPS privatisation
▼ + stars: | 2023-10-20 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

People pass in front of a branch of Monte dei Paschi di Siena (MPS) bank in Siena, Italy, August 11 2021. REUTERS / Jennifer Lorenzini/File Photo Acquire Licensing RightsROME, Oct 20 (Reuters) - Italy's Treasury said on Friday it had picked UBS (UBSG.S) , Jefferies and Clifford Chance as financial and legal advisers for the privatisation of bailed-out bank Monte dei Paschi di Siena (MPS) (BMPS.MI). After a failed attempt to sell the Tuscan lender to larger peer UniCredit (CRDI.MI) in 2021, Italy agreed to Brussels' new privatisation terms that were never fully disclosed. However, Economy Minister Giancarlo Giorgetti said this week MPS could return to private hands by the end of next year. Both Giorgetti and Prime Minister Giorgia Meloni have said in recent months that the government would try to boost competition among Italy's banks with the privatisation of MPS.

Persons: Jennifer Lorenzini, Jefferies, Clifford Chance, Giancarlo Giorgetti, Giorgia Meloni, Gavin Jones, Richard Chang Organizations: REUTERS, Rights, Treasury, UBS, European Union, MPS, Banco, Reuters, Thomson Locations: Monte dei, Siena, Italy, Rome, Brussels

☆ Nexi shares fail to open on bid report as CVC declines to comment
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Bloomberg reported on Tuesday that CVC was in the early stages of considering a possible bid for Nexi, Europe's largest payments company by volume of transactions. Nexi shares have lost 22% this year, adding to a 47% drop in 2022 and stoking speculation about potential takeover interest. By 0730 shares in Nexi were indicated up 16.7% at 6.72 euros a share, not far from a record low of 5.25 euros a share hit earlier this month. The presence of shareholder funds which will eventually need to liquidate their investment and the depressed share price have fuelled persistent speculation about Nexi's future. The government has powers to block any unwanted interest over a company such as Nexi, considered of strategic national interest.

Persons: Alessandro Garofalo, Friedman, Bain, Elisa Anzolin, Giancarlo Navach, Valentina Za, Cristina Carlevaro, Gavin Jones Organizations: REUTERS, CVC Capital Partners, Bloomberg, Nexi, Nets, Thomson Locations: Milan, Italy, Nexi

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. Italy's 2.4 trillion-euro debt pile is the focus in Europe, where the IMF has said high debt leaves governments vulnerable to crisis. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis.

Persons: Andrew Kelly, Peter Praet, Praet, Sophia Drossos, Daniel Ivascyn, Claudio Borio, Olivier Blanchard, Ray Dalio, Janet Yellen's, Yellen, Jim Leaviss, Giancarlo Giorgetti, Daleep Singh, Joe Biden, Britain's, Yellen's, Jonathan Portes, Clare Lombardelli, Moritz Kraemer, Yoruk Bahceli, Maria Martinez, Leigh Thomas, Giuseppe Fonte, Nell Mackenzie, Naomi Rovnick, William Schomberg, Jan Strupczewski, Dan Burns, Elisa Martinuzzi, Riddhima Talwani, Jayaram, Emelia Sithole Organizations: Financial, of, REUTERS, Institute of International Finance, Reuters, European Central Bank, ECB, Bank for International, Peterson Institute for International Economics, Associates, U.S . Treasury, Wall, Economy, Britain's Treasury, Congressional, Britain's, Institution, Reuters Graphics ACT, King's College London, Labour Party, OECD, Graphics, Thomson Locations: of Manhattan , New York City, U.S, Italy, Britain, United States, Europe, Ukraine, Berlin, Paris, Rome, London, Brussels, Washington, Marrakech

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