Connect with us

Stock Market

EU justice commissioner meets Meta and Twitter executives in Dublin via Reuters

Avatar

Published

on

2/2

© Reuters. Reuters/Eve Hermann/Pool

2/2

DUBLIN (Reuters) – The European Union’s chief justice Didier Reynders will meet executives from Twitter and Meta at their European headquarters in Dublin this week, the commissioner was quoted as saying by the Irish Times on Tuesday.

After the recent layoffs at the two companies, Reynders was quoted as saying he was shocked by “some decisions to fire people who were involved in discussions with the committee” over the new regulations introduced in Brussels.

“It’s very strange, at the moment where there are more and more commitments and the necessity to implement,” Reynders, who will be in Dublin on Thursday to speak to lawmakers, said in an interview with the paper.

“It’s too early to say there’s a real problem, but it stands to reason that we do have some concerns, because of the amount of decisions that have been made – certainly at Twitter, but also at Meta and possibly elsewhere.”

Advertisement

Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Stock Market

Telecom Italia piques investor interest as government reviews network options, by Reuters

Avatar

Published

on


© Reuters. FILE PHOTO: The Team logo is seen at the company’s headquarters in Rome, Italy on November 22, 2021. REUTERS/Yara Nardi/File Photo

Written by Elvira Polina and Giuseppe Fonte

Milan (Reuters) – Telecom Italia BIT 🙂 (TIM) is exploring investor interest in buying its assets, sources familiar with the matter said on Friday, as officials within Italy’s right-wing government seek agreement on how to fix the debt-laden company’s problems. The Italian government said last month that it would seek to identify the “best market-friendly options” by the end of the year to counter ailing TIM, and laid out a planned bid for the group’s telephone network by state lender CDP.

The discussed multi-billion dollar deal, part of a broader project to create a unified Italian network company with CDP’s broadband unit Open Fiber, was a focal point of CEO Pietro Labriola’s strategy to split TIM into several units and cut €25 billion ($26.4 USD) . billion) debt pile.

Labriola is looking to prepare for any outcome of the talks within the government. Three informed sources told Reuters that the executive had been working privately with US fund KKR recently. The sources said the US fund, which already owns a stake in TIM’s last-mile network and had a bid to take over TIM as a whole that was rejected this year, recently renewed interest in tightening its grip on TIM’s terrestrial network. TIM has also made contacts with other potential investors interested in buying into its domestic service operations, including French telecoms group Iliad and Poste Italiane, the sources said.

Advertisement

Any deal involving foreign investors and TIM assets would be subject to government scrutiny under “golden power” regulation, which gives Rome the possibility to block the deal.

According to sources, at least two have expressed interest in TIM’s Brazil-listed subsidiary TIM SA. However, in Labriola’s view, selling a unit that generates about 30% of the group’s underlying profit could be dangerous to TIM’s credit rating, unless it comes up with an excellent rating, according to People. Telecom Italia, KKR, Poste and Iliad all declined to comment.

Discussions within Prime Minister Giorgia Meloni’s administration focus on how to take control of TIM’s precious landline network, an asset considered strategic. The government has not yet started talks with TIM stakeholders – including major investor Vivendi (OTC:). Raising cash to reduce debt and shore up its finances is key for TIM, which has been under pressure for years in its highly competitive domestic market and hit by multiple credit rating downgrades to junk territory over the past year.

($1 = 0.9475 euros)

Source link

Advertisement

Continue Reading

Stock Market

Alphabet’s Google has a huge problem with its Ads Manager

Avatar

Published

on

It may be a boon for readers, but it is a boon for Alphabet (The Google) – Get a free report Google is having trouble with its Ads Manager, which is an essential part of the search giant’s business.

The company posted a message on the Google Ads Status dashboard shortly after 8pm EST, saying “We are investigating reports of an issue with Google Ad Manager… Ads Manager is not serving ads to affected users.”

The message added that affected users They are able to access the Google Ad Manager, but error messages, long response times, and/or other unexpected behaviors appear. “

Advertisement



Source link

Advertisement
Continue Reading

Stock Market

France’s Macron renews Lombard at the helm of public sector bank Caisse des Depots by Reuters

Avatar

Published

on


© Reuters. FILE PHOTO: Eric Lombard, CEO of Caisse des Depots (CDC), attends a press conference about the plan to merge CNP Assurances and the banking arm of La Poste to create a financial group at Bercy’s Finance Ministry in Paris, France, on August 30.

PARIS (Reuters) – President Emmanuel Macron intends to renew Eric Lombard as head of public sector bank Case des Debuts (CDC), President Emmanuel Macron’s office said on Thursday.

Lombard, a former adviser to the socialist governments of the 1990s and a former head of French general insurance companies, was appointed to lead the Caisse des Depots in 2017.

His new mandate must be confirmed in both houses of parliament.

The CDC manages deposits in tax-exempt savings accounts and also holds stakes in several major French companies.

Advertisement

Source link

Continue Reading
Advertisement

Trending