
Italian yacht maker Ferretti aiming for an acquisition this year
ROME, March 10 (Reuters) - Italian yacht maker Ferretti (YACHT.MI), opens new tab aims to make an acquisition this year, its Chief Executive said on Monday, without specifying whether the potential target would be a brand, a yard or another asset.
"We have three different files on the table," CEO Alberto Galassi told journalists.
The executive added that the group was considering a possible buyback.
Asked about recurring media speculation over the exit of the group's top shareholder, Chinese conglomerate Weichai, Galassi said he did not know as the issue was never discussed with them.
Weichai holds a 37.5% stake in Ferretti.
Galassi said he was also unaware of French luxury conglomerate LVMH (LVMH.PA), opens new tab being interested in becoming a shareholder in the group.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time Out
2 hours ago
- Time Out
Zouk opens French restaurant The Plump Frenchman in Bugis with dishes from $13
Led by the former Executive Chef of a two-Michelin-starred French restaurant in Singapore Zouk Group is going French with its latest culinary venture, The Plump Frenchman, set to open on June 16 in Bugis this year. This 70-seater brasserie in Guoco Midtown marks the nightlife brand's first foray into French cuisine – it has previously helmed other F&B concepts like Korio, Here Kitty Kitty, RedTail, and others. The new bistro is headed by acclaimed chef Lorenz Hoja, who is most known for his stint as Executive Chef at the now-defunct L'Atelier de Joël Robuchon Singapore. In his time there, Hoja led the restaurant to clinch two Michelin stars in 2016 and 2017. With The Plump Frenchman, he's flipping the script on French dining, moving away from fine to fun French comfort food at wallet-friendly prices. 'We're bringing back the joy of slow meals, shared plates, and dishes made with real heart,' says Hoja. Photograph: The Plump Frenchman Expect rustic bistro classics like chipirons ($16) – baby squid stuffed with chorizo and herbs – and comforting bowls of onion soup ($18). The standout demi poulet rôtisserie ($17) sees slow-roasted chicken paired with sriracha and house-made pickles. Those looking for value can opt for the lunch and dinner sets, which range from $25 for a two-course set to $47 for four courses. Find out more about The Plump Frenchman here. The Plump Frenchman opens on June 16 at 20 Tan Quee Lan St, Guoco Midtown II, #01-20, Singapore 188107. READ MORE: Pizza Studio Tamaki Review: Tokyo's cult-favourite pizzeria opens in Singapore on June 10 Canopy opens a new pet-friendly outlet at Jurong Lake Gardens with views of lush foliage Two Singapore restaurants are named in the World's 50 Best Restaurants 51-100 extended list for 2025


The Herald Scotland
4 hours ago
- The Herald Scotland
US stock futures little changed ahead of US-China trade talks
Wholesale price data are due the next day and could give investors an idea of whether there is inflation coming down the pipeline to Americans. Wholesale prices are what businesses pay for their goods and services. At the end of the week, a new consumer sentiment reading from the University of Michigan also includes data on inflation expectations. Separately, officials from the U.S. and China are expected to hold trade talks in London, Trump said last week. The talks follow a phone call between Trump and Chinese President Xi Jinping after Trump accused China of violating terms of a tariff pause agreed on last month in Switzerland. At 5:45 a.m. ET, futures linked to the blue-chip Dow rose 0.12%, while broad S&P 500 futures added 0.12% and tech-heavy Nasdaq futures were flat. All three indexes closed higher last week, and the S&P 500 is now less than 3% from its record high. The S&P 500 topped the 6,000 mark for the first time since Feb. 21. Investors will also continue to watch the path of the One, Big Beautfil bill in the Senate after a public and fierce tit-for-tat exchange between Tesla chief executive Elon Musk and Trump over social media about the tax bill. Musk called the bill a "pork-filled Congressional spending bill is a disgusting abomination," and Trump called Musk "crazy." Cryptocurrency Cryptocurrency platform Gemini said it confidentially submitted a draft registration statement with the Securities and Exchange Commission (SEC) for an initial public offering of class A shares. The IPO is expected after the SEC review process, it said in a release. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.


Reuters
4 hours ago
- Reuters
Pakistan likely to hike defence spending but slash overall budget in 2025-26
ISLAMABAD, June 10 (Reuters) - Pakistan will unveil its annual federal budget for the coming fiscal year later on Tuesday, seeking to kickstart growth while finding resources for an expected hike in defence expenditure following the conflict with India last month. Islamabad will also have to contend with remaining within the discipline of its International Monetary Fund programme and the uncertainty from new trade tariffs being imposed by the United States, its biggest export market. Media reports say the government is likely to present a 17.6 trillion rupee ($62.45 billion) budget for the fiscal year beginning July 1, down 6.7% from this fiscal year. It has projected a fiscal deficit of 4.8% of GDP, against a targeted 5.9% deficit in 2024-25, the reports say. Analysts said they expect an increase of around 20% in the defence budget, likely offset by cuts in development spending. Pakistan allocated 2.1 trillion Pakistani rupees($7.45 billion) for defence in the outgoing fiscal year, including $2 billion for equipment and other assets. An additional 563 billion rupees ($1.99 billion) was set aside for military pensions, which are not counted within the official defence budget. India's defence spending in its 2025–26 (April-March) fiscal year was set at $78.7 billion, a 9.5% increase from the previous year, including pensions and $21 billion earmarked for equipment. It has indicated it will step up expenditure following the May conflict with Pakistan. The government of Pakistani Prime Minister Shehbaz Sharif has projected 4.2% economic growth in 2025-26, saying it has steadied the economy, which had looked at risk of defaulting on its debts as recently as 2023. Growth this fiscal year is likely to be 2.7%, against an initial target of 3.6% set in the budget last year. Pakistan's growth lags far behind the region. In 2024, South Asian countries grew by an average of 5.8% and 6.0% growth is expected in 2025, according to the Asian Development Bank. Expansion of the economy should be aided by a sharp drop in the cost of borrowing, the government says, after a succession of interest rate cuts by the central bank. But economists warn that monetary policy alone may not be enough, with fiscal constraints and IMF-mandated reforms still weighing on investment. Finance Minister Muhammad Aurangzeb said on Monday that he wanted to avoid Pakistan's boom and bust cycles of the past. 'The macroeconomic stability that we have achieved, we want to absolutely stay the course,' he said. 'This time around we are very, very clear that we do not want to squander the opportunity.' The budget is expected to prioritize expanding the tax base, enforcing agriculture income tax laws, and reducing government subsidies to industry, to meet the terms of a $7 billion IMF bailout signed last summer. Just 1.3% of the population paid income tax in 2024, according to the tax authorities, with agriculture and the retail sector largely outside of the tax net. The IMF has urged Pakistan to widen the tax base through reforms which include taxing agriculture, retail, and real estate. Ahmad Mobeen, senior economist at S&P Global Market Intelligence, said that he expected the revenue target for 2025-26 will be missed. 'The shortfall will mostly be owing to lack of optimal implementation of announced measures as well as absence of meaningful structural reforms to widen the tax net in general,' said Mobeen. ($1 = 281.8400 Pakistani rupees)