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Stock Market & Financial Investment News

News Breaks
October 10, 2011
07:29 EDTFIATY, LUX, TIItaly August industrial production up in August, Bloomberg says
Even as Europe dealt with a contagion from the continent's debt problems, Italy's industrial production rose in August, reports Bloomberg. Reference Link
News For FIATY;LUX;TI From The Last 14 Days
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October 16, 2014
08:06 EDTFIATYAlmunia says political pressure around Google case 'unprecented,' WSJ reports
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06:34 EDTFIATYChina to punish automakers that miss fuel standards, Reuters reports
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October 14, 2014
09:51 EDTTITelecom Italia CEO says Tim Participacoes not in rush for deal, Reuters reports
Telecom Italia (TI) CEO Marco Emilio Patuano told Valor Economico that TIM Participaçoes (TSU) can remain competitive in Brazil for five years without losing market share and that it is not in a rush for potential mergers and acquisitions, reported Reuters. TIM Brasil reportedly hired an advisor to look at a potential bid for Oi (OIBR), a source told Reuters previously, and Oi itself has hired a bank as well to advise it on a possible bid for Telecom Italia's 67% stake in TIM Brasil, the report noted, but Patuano told Valor: "I find it curious to see public comments [on a potential Oi bid for TIM] well before there is any concrete possibility of such a thing happening. Telecom Italia is not seeking an offer." Reference Link
October 13, 2014
17:53 EDTLUXLuxottica accepts Cavatorta resignation, Del Vecchio to be interim CEO
Luxottica Group announced that the board of directors accepted the resignation of Enrico Cavatorta from the board following disagreements on the current governance structure. Roger Abravanel resigns from the board of directors for the same reasons. The Chairman Leonardo Del Vecchio takes on the executive responsibilities ad interim while the co-CEO of Markets selection process is being finalized, based on a high profile list of candidates. The appointment of Massimo Vian as co-CEO of Operations and Product will take place together with the appointment of the co-CEO of Markets. The board acknowledged the Group performance of the third quarter, which shows a strong free cash flow generation, sales growth in line with the first half of the year at constant exchange rates and an expected increase in net income of approximately 10%. Reference Link
06:44 EDTFIATYRegulators seeking banks' auto loan data, Reuters reports
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05:30 EDTLUXLuxottica downgraded to Neutral from Buy at Citigroup
October 12, 2014
17:47 EDTLUXLuxottica CEO Enrico Cavatorta intends to submit resignation
Luxottica announces that a meeting of the Board of Directors has been called for tomorrow, Monday 13th October, following the intention expressed by Enrico Cavatorta to submit to the Board his resignation as CEO of the company. The Chairman will propose that the Board appoint Massimo Vian, current COO, with the mandate of co-CEO for Operations and Product, and to entrust him on an interim basis with responsibility for Corporate Functions and Markets. If approved, all business functions and related responsibilities will consequently be under the exclusive responsibility of the two co-CEOs. The company also confirms that the search process for a co-CEO for Markets is progressing, based on a high profile list of candidates. In light of the solid results achieved also in the third quarter, Luxottica is in a position to take the necessary time to execute this search, in order to ensure that the best decision is made for the company. Reference Link
October 8, 2014
06:37 EDTFIATYFiat head aims to step down from post after 2018, Bloomberg says
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06:34 EDTFIATYFiat boss expects Chrysler deal to make new No.1 vehicle maker, Bloomberg says
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