Bloomberg Luxury-goods group Kering SA agreed to pay 187 million euros ($206 million) to settle an Italian probe on alleged tax evasion at its Bottega Veneta unit, according to people familiar with the matter. Italian financial police found that Bottega Veneta used two Swiss affiliates to avoid paying taxes in Italy, the people said, asking to not be named ...

Bloomberg The European Union said that work is under way on additional sanctions to penalise Russia for what appear to be war crimes in Ukraine, condemning “in the strongest possible terms” alleged atrocities committed against civilians. In a statement on behalf of the 27-nation bloc, Josep Borrell, the EU’s chief foreign envoy, laid the blame for the “haunting images of ...

Bloomberg The two European leaders most closely allied to Russian President Vladimir Putin before he launched his invasion of Ukraine won decisive election victories on pledges to stay out of the war. Hungarian Prime Minister Viktor Orban, who has spent 12 years consolidating his grip on power and clashing with the European Union over democratic values, clinched a fourth consecutive ...

Bloomberg Sri Lanka named a new finance minister as President Gotabaya Rajapaksa began reworking his cabinet to pull the economy out of its worst crisis in decades. Ali Sabry will take over from Basil Rajapaksa as the head of finance, while GL Pieris will continue as the foreign minister, Sudewa Hettiarachchi, director general of the Presidential Media Division, said by ...

Bloomberg White House Chief of Staff Ron Klain said Attorney General Merrick Garland, not President Joe Biden, will make decisions on prosecutions in the January 6th, 2021 insurrection and in other cases. Klain was responding to a New York Times report that Biden told his inner circle last year that former President Donald Trump should be prosecuted. The Times cited ...

Bloomberg To avoid losing a no-confidence vote in parliament, Pakistan leader Imran Khan instead triggered an unprecedented political crisis. Now the question is whether voters will reward him at the next election. In a series of events that stunned Pakistan, a member of Khan’s party scrapped the parliamentary vote over alleged foreign interference before the prime minister swiftly called an ...

  Bloomberg The US added close to half a million jobs in March and the unemployment rate fell by more than expected, highlighting a robust labour market that’s likely to support aggressive Federal Reserve tightening in the coming months. Nonfarm payrolls increased 431,000 last month after an upwardly revised 750,000 gain in February, a Labour Department report showed. The unemployment ...

Bloomberg European regulators are asking Microsoft Corp. partners and rivals for information related to a complaint made against the software maker alleging anti-competitive behavior in the cloud-computing services market. The European Commission in March circulated a questionnaire, seen by Bloomberg News, focusing on how Microsoft licenses its products. The questions may lead to a formal inquiry, and follows an antitrust ...

  Bloomberg A record number of UK companies expect to increase wages as the war in Ukraine deepens the cost of living crisis, a survey showed. The Lloyds Bank Business Barometer found that a half intended to boost average pay by at least 2% in the next 12 months. A fifth of businesses that have annual turnover of more than ...

  Bloomberg Italian inflation surged to the highest in three decades as energy prices continued to rise following Russia’s invasion of Ukraine. Prices increased 7% in March from a year earlier, statistics office Istat said. That’s the fastest pace since 1991. Rising prices and the ongoing conflict are impacting the economy with Finance Minister Daniele Franco saying last week that ...