Bloomberg Telecom Italia SpA’s decision to name Luigi Gubitosi as its new chief executive officer marks another victory for Elliott Management Corp in its push for a radical overhaul of the embattled phone company. The board, stacked with directors representing billionaire Paul Singer’s fund, chose the former Merrill Lynch banker at a meeting. Gubitosi succeeds Amos Genish, who was ousted ...

Bloomberg US stocks were lower, reversing gains from late last week, as investors grew pessimistic about escalating trade tensions between the Trump Administration and China. Treasuries declined, the dollar steadied and gold fell. All major US equity benchmarks fell, led by the Nadaq 100 Index as tech shares slumped. Apple Inc. sank 2.3 percent following reports that it had cut ...

Bloomberg Investors are the most bearish on the pound since the UK voted to leave the European Union as markets brace for the possibility of a no-confidence vote in Prime Minister Theresa May’s leadership. The premium to buy put options on the currency relative to calls is the steepest since June 2016, even with sterling attempting a recovery on Monday. ...

Bloomberg Boeing Co. is trying to assuage 737 Max customers concerned about a little-known anti-stall feature that has emerged as a focus of investigators probing a crash in Indonesia last month that killed 189 people. Southwest Airlines, the largest 737 Max operator, American Airlines and United Airlines are among the carriers globally pressing Boeing for details of the formerly obscure ...

Bloomberg As J.C. Penney Co. discounts more merchandise to clear the shelves of slow-moving inventory, investors are hopeful the painful overhaul is nearing its end. The department-store chain, which has been aggressively trying to get the right mix of merchandise in stores, reported a sales contraction in its latest quarter. It also withdrew its prior 2018 earnings guidance, replacing a ...

Bloomberg Canada Goose Holdings Inc. wants its customers to know what real cold feels like—from the comfort of a $1,000 parka. The company is adding frigid rooms to some of its stores where shoppers can test the luxury coats in temperatures as low as -25 degrees Celsius. A Montreal location is the fifth to include the fancy freezer, and Beijing ...

Bloomberg The maker of Oreo cookies has become the latest target by Greenpeace in its campaign to stop the destruction of rainforests for palm oil. The environmental group accused palm oil suppliers to snack giant Mondelez International Inc., which makes the famous black and white cookie as well as Cadbury chocolate bars, of deforestation and destroying orangutan habitats in Indonesia. ...

Bloomberg In an industrial park outside Cologne, German grocer Rewe Group is fighting back against Amazon.com Inc. with what it describes as the most technologically sophisticated online-shopping facility in Europe. The closely held retailer’s building, the size of 2 1/2 soccer fields, holds 20,000 items from drinks to diapers, twice as many as a typical supermarket. Products are stored in ...

Bloomberg Billionaire Mukesh Ambani-owned Reliance Industries Ltd is considering a plan to boost its oil-refining capacity by about half, people with knowledge of the matter said. The proposed plant, to come up at the world’s biggest refining complex in Jamnagar, will be able to process as much as 30 million tonnes of crude a year, the people said asking not ...

Bloomberg BGC Partners Inc is entering the shipbroking market for the first time, buying Poten and Partners Group Inc to bet on demand for liquefied natural gas. Poten, which is based in New York, specializes in the LNG tanker and liquid petroleum gas markets, with 170 staff in offices from London to Singapore, Houston, Athens, Guangzhou and Perth. BGC didn’t ...