Rachel Sanderson If Giorgia Meloni had expected a straightforward passage to becoming Italy’s first woman prime minister, she hadn’t counted on her coalition ally Silvio Berlusconi’s enduring desire to control. Italy’s three-time premier started undermining her far-right government even before its ministers were named. But Meloni has something to learn from Berlusconi too. He provides a cautionary tale for all ...

L’Oreal SA said there are signs that shoppers are trading down to cheaper skincare products in fresh evidence that soaring inflation is eroding household budgets. The change in consumer behaviour is most pronounced in the UK “where the inflation is the highest,” with trading down affecting the skincare category there but not haircare nor fragrance, said Chief Executive Officer Nicolas ...

Some bondholders of Hong Kong Airlines are seeking to block a $6.2 billion debt restructuring plan, which they say treats them unfavorably compared with the company’s owner and its affiliates. The ad-hoc group, representing some holders of perpetual notes and advised by law firm Allen & Overy, will vote down a proposal to reduce the debt of the embattled carrier ...