Category: Business

Philippe Donnet, chief executive of Italy’s largest insurer Generali (GASI.MI), will on Wednesday outline a new company strategy to try to fend off a leadership challenge brought by two billionaire investors. Construction magnate Francesco Gaetano Caltagirone and Leonardo Del Vecchio, founder of eyewear giant Luxottica, have opposed the reappointment of Donnet, 61, whose mandate ends […]

Japan pledged $3.4 billion in its largest contribution to the International Development Association (IDA) of the World Bank, to ensure the recovery of low-income countries from the COVID-19 pandemic, finance ministry officials said on Tuesday. The pledge came as Japan hosted an online meeting on the 20th replenishment of the IDA, brought forward by a […]

French fashion house Chanel named Leena Nair, an executive from Unilever (ULVR.L), as its new global CEO on Tuesday, picking a consumer goods veteran to run one of the world’s biggest luxury goods groups. Nair’s career at Unilever spanned 30 years, most recently as the chief of human resources and a member of the company’s […]

Russian car-sharing company Delimobil on Tuesday reported an 89% jump in revenue in the third quarter to 3.9 billion roubles ($53 million), and said it was still eyeing a public market listing after postponing its U.S. IPO plans last month. At least 10 Russian firms could hold IPOs in 2022, extending a listing spree that […]

Afghanistan’s central bank said on Tuesday it was working to ensure the stability of the afghani, a day after the currency lost almost 12% of its value against the dollar in a matter of hours amid a deepening economic crisis and soaring inflation. The abrupt withdrawal of foreign aid following the Taliban victory in August […]

Google (GOOGL.O) and Apple (AAPL.O) hold a “vice-like” grip over how people use mobile phones, stripping any meaningful choice from the system and potentially hiking costs, Britain’s competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said it had provisionally found that the two groups were able to leverage their market power to […]

3M Co (MMM.N) said on Tuesday it would merge its food-safety business with food testing and animal healthcare products maker Neogen Corp (NEOG.O) in a tax-free transaction, as the industrial giant sharpens its healthcare focus. The deal gives the unit, which makes products for pathogen testing and allergen detection, an enterprise value of about $5.3 […]