Bloomberg The mystery surrounding a $66 million painting deepened last month after it resurfaced in the walls of an Italian gallery nearly 23 years after it was reported stolen. Officials announced that the painting by Austrian symbolist artist Gustav Klimt, created between 1916-1917, is authentic. Gardeners at the Ricci Oddi Gallery of Modern Art in northern Italy’s Piacenza province discovered ...

Bloomberg GAM Holding AG Chief Executive Officer Peter Sanderson is cutting bonuses and signalling talks on layoffs will begin imminently as the company adapts to losing more than 40% of its key assets in a rogue trading scandal. Bonuses will be cut since underlying profits are materially lower and the company will pay a higher proportion in deferred shares, Sanderson ...

Bloomberg British firms issued 313 profit warnings in 2019, with consumer discretionary businesses — including retail and travel and leisure —, industrial support services, software services and construction and materials hit the hardest. The number of listed companies warning in 2019 was also the highest in 18 years, marginally above the figure of 2008, the report showed. “The UK economy ...