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 ...

After ending its partnership with Ye’s Yeezy label last month, Gap Inc. is now pulling all remaining Yeezy Gap products from its stores and online after the rapper and designer made antisemitic remarks. In a statement, Gap said it would take immediate steps to remove Yeezy Gap items and shut down e-commerce site YeezyGap.com. It now redirects to Gap.com. Last ...

Air Canada agreed to expand a plane order from Airbus SE as the carrier looks to enlarge bits fleet amid the post-Covid rebound in air travel. The carrier said it’s adding 15 A220-300 jets by converting options into firm orders, according to a statement that confirmed an earlier report by Bloomberg News. The order follows a deal closed in 2016 ...

Brazil’s presidential race is still tightening according to a new opinion poll that takes into account voters most likely to show up on election day. The Quaest poll published Wednesday followed a trend seen in other surveys this week that showed President Jair Bolsonaro’s overall momentum fading, but it also gauged the possible impact of abstention rates on Sunday’s runoff ...

German Chancellor Olaf Scholz and French President Emmanuel Macron met in Paris Wednesday to try and iron out wide-ranging tensions from energy and economic issues to the future of European defense. A Macron aide said the two leaders were set to discuss defense, macroeconomic issues and energy over a working lunch at the presidential palace. They had no plans for ...

Russia carried out military exercises simulating a retaliatory nuclear strike as President Joe Biden warned Vladimir Putin that any use of an atomic weapon would be an “incredibly serious mistake.” As he oversaw the drills, Putin was told by his defense chief that the maneuvers on Wednesday were meant to simulate a “massive nuclear strike” in response to an attack, ...

UBS Group AG posted a robust quarter on the back of surging rates and cost control, enabling the Swiss bank to confirm a plan to return around $5.5 billion to investors this year. UBS said net income in the three months to September was $1.73 billion, compared with analyst estimates of $1.57 billion. The wealth management unit saw lending revenue ...

A year after launching Africa’s first digital currency, Nigeria’s central bank is turning to the nation’s three-wheeler taxi operators to speed the adoption of the eNaira, as regulators across the world scrutinise its every move. It’s offering a 5% discount to drivers and passengers of the motorised rickshaws — known locally as Keke Napep — who use the eNaira. It’s ...