MILAN (Reuters) – Italian luxury group Salvatore Ferragamo said on Friday that its Chief Financial Officer Alessandro Corsi would resign with effect from Sept.30 to take on “a new professional challenge”. Corsi has been Ferragamo’s CFO since January 2019. He is expected to become chief executive of a non-listed company which is not a rival…
By John McCrank and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The last rates based on the tarnished London Interbank Offer Rate, or Libor, were published on Friday, marking a mostly quiet end of a nearly decade-long effort to move away from what was once dubbed the world’s most important number. While there has been some…
LONDON (Reuters) – Two influential lawmakers in the United States and Britain accused HSBC on Friday of contributing to the oppression of people in Hong Kong by thwarting their attempts to access pension funds in order to emigrate. The intervention piles further pressure on HSBC, which has attracted criticism for allegedly mistreating customers who have…
BRUSSELS/FRANKFURT (Reuters) – The European Commission has demanded that German gas importer Uniper divest its Dutch business to obtain regulatory approval for a rescue deal, German daily Handelsblatt reported, citing several people familiar with the matter. The European Commission has set itself a Dec. 16 deadline to decide on whether to approve Germany’s bailout of…
(Corrects June 29 story to remove reference to aspartame in Weight Watchers yoghurts in paragraph 6) By Richa Naidu and Savyata Mishra LONDON (Reuters) -Consumers, food companies, retailers and restaurants need to decide whether to fight back or find alternatives to one of the world’s most common artificial sweeteners, as a leading global health body…
(This June 29 story has been refiled to fix the typo in sub-head to Wagner, not Wager) LONDON (Reuters) – Markets are on the alert to which sectors will buckle under the sharpest jump in interest rates in decades, with big rate moves this month in Britain and Norway a reminder that the tightening is…
By Emilio Parodi MILAN (Reuters) – Prosecutors in Milan are probing allegations of false accounting in relation to the crisis at Italian life insurer Eurovita, a person with knowledge of the matter said on Friday. Owned by Cinven, Eurovita this year became the first Italian insurer to be placed under special administration by the country’s…
By Jonathan Stempel and Jack Queen NEW YORK (Reuters) -The U.S. government has urged an appeals court to uphold Ghislaine Maxwell’s conviction and 20-year prison sentence for helping the disgraced late financier Jeffrey Epstein sexually abuse teenage girls. In a Thursday night filing with the 2nd U.S. Circuit Court of Appeals in Manhattan, federal prosecutors…
By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) – From BlackRock to JPMorgan, some of the world’s top investors are upbeat on emerging markets for the second half of the year on the prospect of falling interest rates, while signs of progress in tricky debt talks are set to buoy frontier markets. Positive headlines…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar’s share of currency reserves reported to the International Monetary Fund rose in the first quarter of the year, in the midst of a still aggressive rate-hike cycle from the Federal Reserve aimed at curbing uncomfortably high inflation. The greenback’s share of reserves rose to 59%…
