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Tycoons, bankers and bosses are vying for control of Generali, Italy’s largest insurer. This acrimonious and, at times, personal battle has divided the Italian financial establishment. The outcome will matter far beyond this tight circle. Generali is worth about €30bn, employs roughly 75,000 people and serves approximately 67mn customers. Construction tycoon Francesco Caltagirone leads rebels

It should be no surprise that a beauty business is a dab hand at putting a good face on things. Nutrition, beauty and logistics group THG’s cut to its profit margin outlook for this year came with something to pretty it up: the confirmation that it had received “indicative proposals from numerous parties” to buy

Melissa Aldana’s cultured, light-toned tenor saxophone is steeped in the winding pathways, dynamic contrasts and harmonic thickets of contemporary narrative jazz. Raised in Santiago, Chile, she graduated from Berklee College of Music in 2009, and, based in New York, is a fixture in international jazz. This quartet gig, an early evening full-house show, presented music from

Carlsberg has warned it will book a $1.4bn writedown from the sale of its Russian business as part of the exodus of western companies following Moscow’s invasion of Ukraine. The Danish group, which owns Russia’s biggest beer brand Baltika, has more exposure to the market than any other international brewer, earning 9 per cent of

The United Arab Emirates has frozen the assets of the Kinahan drug trafficking gang, adding to international pressure on an organisation that has deep ties with boxers and promoters at the highest levels of the sport. The Gulf state said it was continuing to investigate the Irish organised crime group in parallel with authorities in

The writer is prime minister of Ukraine If Russia stops fighting, there will be peace. If Ukraine stops fighting, there will be no Ukraine. This feeling permeates our society. Ninety-five per cent of Ukrainians believe in our victory. The courage of our armed forces and citizens has excited the world. Mariupol, Kharkiv, Sumy, Mykolayiv —

Choppy waters distance Chinese business from western capital. Cnooc, a driller in the contested South China Sea, embodies that gulf. The US expelled China’s biggest offshore oil and gas producer from the New York stock market in 2021, deeming it a security threat. Cnooc’s politicised status invites scepticism from international investors, despite a triumphant homecoming

China has said it will launch an official private pension scheme that aims to push more of the country’s vast household savings into the financial market, as the government grapples with an ageing population. Employees in China will be able to contribute up to Rmb12,000 a year ($1,860) to private schemes, which the government said

When Donald Trump became US president, his critics pronounced the death of the liberal international order. The shorthand “LIO” spread like a rash across think-tanks and op-ed pages. Its funeral was both premature and parochial. Like the Holy Roman Empire, which was not holy or Roman, nor an empire, the liberal international order was always

The world’s biggest alternative asset manager Blackstone Group expects less dealmaking this year because of high inflation, rising interest rates and geopolitical uncertainty. “It’s hard to predict deal activity, although I would expect it to be lower than last year,” Blackstone’s president Jonathan Gray told the Financial Times. A record $5.8tn in mergers were agreed

One thing to start: I highly recommend checking out this interactive break down of Europe’s efforts to wean itself off of Russian gas. Welcome back to Energy Source after the short break! A world desperate for more oil is going to be paying a lot more to get it out of the ground, I report

The Easter Sunday denunciations of the government’s plan to deport illegal asylum seekers to Rwanda that rained down on ministers from the highest pulpits in the land have raised concerns among Conservatives that God may be a bit too dominated by liberal metropolitan elite attitudes. There is particular concern that God has developed a bit

Bill Ackman may have hung up his activist breeches this year, but there seems to be a new generation of young guns emerging that is just as willing to take on companies. The investment bank Lazard recorded 73 new activist campaigns globally in the first three months of 2022, the most since it started systematically

Deloitte has been ordered to pay a fine and costs of more than £2mn by the UK accounting regulator after admitting rule breaches during its audit of outsourcing group Mitie. The Financial Reporting Council found that the Big Four firm failed in its audit of the FTSE 250 company’s impairment testing of goodwill, which was

Nestlé pushed up prices for its products by more than 5 per cent in the first three months of the year, in the latest sign of steep commodity inflation feeding through to consumer prices for branded goods. The world’s largest food company said on Thursday it had increased pricing by 5.2 per cent in the

This is Lauly Li in Taipei, covering the tech industry’s hardware supply chain, from semiconductors to smartphones to EVs. My fellow tech correspondent Cheng Ting-Fang and I have seen some incredible changes over the past four years. I remember back in March 2018, the chairman of a key Apple supplier told me it would be

The carbon emissions of JBS, the world’s largest meatpacking company, soared more than 50 per cent in the past five years, according to new research that lays bare the challenge of reducing greenhouse gases in the global food industry. The study by several environmental groups suggested that the São Paulo-headquartered company released 421.6mn metric tonnes

Good morning and welcome to Europe Express. European leaders — the UK’s Boris Johnson today, the EU’s Ursula von der Leyen on Sunday — are visiting India at a time of simmering anxiety over its relations with Russia. We’ll explore the stakes and what goodies are on offer in terms of free trade deals. In

This is an audio transcript of the Rachman Review podcast episode: Le Pen, patriots and the anti-globalist movement [MUSIC PLAYING] Gideon RachmanHello and welcome to the Rachman Review. I’m Gideon Rachman, chief foreign affairs commentator of the Financial Times. This week’s edition comes from France, where I’ve been following the presidential election. It’s now a

Pandemic-related absenteeism and social unrest in Chile have hit BHP’s copper and nickel output, which fell 10 per cent and 13 per cent, respectively, as the company warned labour constraints would persist for the rest of 2022. Declines in copper production in the nine months to March 31 were driven by large Covid-19 outbreaks at