Latest news with #FlaviaRotondi
Bloomberg
a day ago
- Business
- Bloomberg
EssilorLuxottica Sales Top Estimates Amid Smart Glasses Push
By and Flavia Rotondi Save EssilorLuxottica SA posted better-than-expected revenue in the second quarter, though profit at the world's biggest eyewear maker was held back by tariffs and its investments in smart glasses. Revenue rose 7.3% at constant exchange rates to €7.18 billion ($8.36 billion) in the period, according to a statement Monday. That beat analysts' estimates for a 5.9% rise, based on a Bloomberg-compiled consensus.
Bloomberg
5 days ago
- Business
- Bloomberg
Rome's Next Big Tourist Draw Risks Going Bust Before It Opens
By and Flavia Rotondi Save The Aquarium of Rome wanted to open this year to show the millions of pilgrims and tourists flocking to the Italian capital that there's more on offer than ancient history and old churches. Instead, it's become a study in just how hard it is to deliver landmark building projects in modern times. Italian banks Intesa Sanpaolo SpA and UniCredit SpA still have a nominal interest in the struggling enterprise after being forced to write off 95% of their loan exposure to its owner in a previous restructuring. But talks to raise fresh cash from investors, including London-based distressed specialist Zetland Capital, have dragged on for years without conclusion, according to company filings seen by Bloomberg. That casts further doubt over the site's future.
Bloomberg
16-07-2025
- Business
- Bloomberg
Italy Cracks Down on Sweatshops Feeding Loro Piana, Armani, Dior
By , Flavia Rotondi, and Luca Casiraghi Save For a decade, a Chinese tailor toiled in a three-story building on the outskirts of Milan, working 13 hours a day making high-end garments for brands including Italian cashmere label Loro Piana. The unnamed worker was paid off-the-books, earning roughly €1,500 ($1,742) a month, according to legal documents seen by Bloomberg — about the price of one Loro Piana baby cashmere sweater. He became part of a hidden, underground labor force, employed by third parties, who craft luxury clothing for Italy's most renowned fashion houses.
Bloomberg
14-07-2025
- Business
- Bloomberg
LVMH's Loro Piana Faces Court Oversight in Italy Workplace Probe
By and Flavia Rotondi Save A Milan court placed Italian luxury label Loro Piana SpA under judicial oversight for one year, saying the LVMH -owned label famous for its cashmere clothing failed to stop subcontractors from exploiting migrant workers. In some Italian factories, working hours largely exceeded the 8-hour legal standard, employees slept on shop floors and were paid a fraction of Italy's legal minimum, prosecutors said, according to the ruling seen by Bloomberg News. The court also said that Loro Piana omitted due-diligence checks.
Business Insider
07-07-2025
- Business
- Business Insider
UniCredit reduces stake in Generali, Bloomberg says
UniCredit (UNCRY) has recently begun reducing its stake in Assicurazioni Generali (ARZGY) as part of its plan to exit the insurer over time, Flavia Rotondi of Bloomberg reports. In April, UniCredit owned 6.49% of Generali's capital and the total amount of shares sold would correspond to less than 1.5% of Generali, Bloomberg adds, citing Repubblica newspaper. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
