Latest news with #FlaviaRotondi
Bloomberg
2 hours ago
- Business
- Bloomberg
Italy Cracks Down on Sweatshops Feeding Loro Piana, Armani, Dior
By , Flavia Rotondi, and Luca Casiraghi Save For a decade, a Chinese tailor toiled in a three-story building on the outskirts of Milan, working 13 hours a day making high-end garments for brands including Italian cashmere label Loro Piana. The unnamed worker was paid off-the-books, earning roughly €1,500 ($1,742) a month, according to legal documents seen by Bloomberg — about the price of one Loro Piana baby cashmere sweater. He became part of a hidden, underground labor force, employed by third parties, who craft luxury clothing for Italy's most renowned fashion houses.
Bloomberg
2 days ago
- Business
- Bloomberg
LVMH's Loro Piana Faces Court Oversight in Italy Workplace Probe
By and Flavia Rotondi Save A Milan court placed Italian luxury label Loro Piana SpA under judicial oversight for one year, saying the LVMH -owned label famous for its cashmere clothing failed to stop subcontractors from exploiting migrant workers. In some Italian factories, working hours largely exceeded the 8-hour legal standard, employees slept on shop floors and were paid a fraction of Italy's legal minimum, prosecutors said, according to the ruling seen by Bloomberg News. The court also said that Loro Piana omitted due-diligence checks.
Business Insider
07-07-2025
- Business
- Business Insider
UniCredit reduces stake in Generali, Bloomberg says
UniCredit (UNCRY) has recently begun reducing its stake in Assicurazioni Generali (ARZGY) as part of its plan to exit the insurer over time, Flavia Rotondi of Bloomberg reports. In April, UniCredit owned 6.49% of Generali's capital and the total amount of shares sold would correspond to less than 1.5% of Generali, Bloomberg adds, citing Repubblica newspaper. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Bloomberg
03-03-2025
- Business
- Bloomberg
Vatican Bank Reform Will Outlive Pope Francis
Pope Francis has been hospitalized since Feb. 14, but the work of the Vatican continues in his absence. One notable change during his reign has been its financial reforms, Flavia Rotondi writes today from Rome. Plus: Global health experts are worried about flu, measles and Ebola as the CDC makes cuts. And remaking and marketing snacks without artificial dyes is a challenge. If this email was forwarded to you, click here to sign up. Soon after Jorge Mario Bergoglio became Pope Francis in 2013, the Argentina-born cardinal took stock of the Vatican's finances—and he didn't like what he found. After decades of scandals and allegations of money laundering, the Holy See was an unholy mess. Upon ascending to the throne, the new pontiff declared that the church should be 'poor, and for the poor.'
