From Breakingviews - Italy’s green star has new, uncertain trajectory
for renewable projects around the world.
Given Scaroni’s background, it may even seem like a good idea to combine Enel with $53 billion Eni and create an inward-focused national champion rather than a global net zero star. That may make Enel less appealing to international investors than once seemed likely.
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Italy ousts Starace from Enel, confirms Eni's DescalziItaly's Treasury on Wednesday appointed Flavio Cattaneo as chief executive of the country's biggest utility Enel , while confirming Claudio Descalzi at the helm of energy group Eni for an unprecedented fourth term.
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Breakingviews - UAE telco super app punt uses Indian playbookThe United Arab Emirates is finding more strategic places to park its cash. On Monday, $55 billion Emirates Telecommunications (e&), majority owned by the Gulf state, revealed it is splurging $400 million to scoop up a 50% stake in a so-called “super app” managed by Careem, Uber Technologies’ Middle Eastern subsidiary. The telecoms giant’s purchase follows a $4.4 billion investment in Vodafone in May last year. It’s a way to advance an ambition, revealed last June, to be a technology and investment powerhouse.
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Breakingviews - Gold miner’s mega $20 bln deal is not quite overTom Palmer is going for third time lucky. The boss of $40 billion U.S.-based gold miner Newmont has sweetened his bid for Australian rival Newcrest after the latter rejected its two prior approaches. The latest $19.5 billion offer looks shinier but still faces some challenges.
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Breakingviews - A top tip for central banks: talk less, smile moreInvestors hang on central bankers’ every word, hoping to gain an edge for their next trade. Policymakers such as Federal Reserve Chair Jerome Powell have used public statements to explain and compound the effects of their decisions. But with markets agitated, banks under stress and the economy on a knife-edge, rate-setters may find that silence is golden.
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Breakingviews - IMF dashes hopes of growth reboundThe International Monetary Fund may have just hammered the final nail in the coffin of a complete economic rebound. With downside risks dominating its outlook, the IMF’s estimates dash any remaining hopes of a full recovery from recent years’ shocks.
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Breakingviews - Electric cars get a reality checkRegulators want to encourage electric vehicles by flattering them less. The U.S. Department of Energy has proposed tweaking a decades-old formula for calculating EVs’ fuel efficiency. The overhaul will lower electric mileage ratings – but could encourage automakers to ditch fossil fuels more quickly.
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