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Both Fiat Chrysler (FCA) and Juventus are controlled by Exor (EXOR.MI), the investment holding of Italy’s Agnelli family, which owns nearly 30 percent of the carmaker and 64 percent of the soccer team. However, the two are completely separate entities, each managing their own finances and operations. USB was protesting over the fact that tens of millions of euros were spent to hire Ronaldo while workers at FCA were being asked to make sacrifices. The strike was called for late Sunday to early Tuesday.
The bigger unions criticized USB’s move as “mere advertising”, saying it was “incredible that in such a delicate phase for the FCA group., someone is calling for a strike on a matter that has nothing to do with work and cufflinks with initials with workers”, Thousands of FCA plant workers across Italy have been on state-sponsored temporary layoff schemes for years due to lack of new models, However, the company has launched a new investment strategy to 2022 which it says should allow all employees in Italy to return to work over the next four years..
HONG KONG (Reuters) - China’s commerce ministry said on Thursday industrial policies including “Made in China 2025” mainly serve as guidance under market conditions and they are open to all foreign firms. Made in China 2025 is the state-backed industrial policy that has provoked alarm in the West and is core to Washington’s complaints about the country’s technological ambitions. The comments came after the United States issued a list of Chinese goods worth $200 billion to be hit with the new tariffs.
(Reuters) - cufflinks with initials Pizza chain Papa John’s International Inc (PZZA.O) said on Wednesday its founder and former chief executive, John Schnatter, resigned as chairman of the board, The company said Olivia Kirtley would act as lead independent director, and added it would appoint a new chairman in the coming weeks, The resignation comes after Forbes reported earlier in the day that Schnatter used a racial slur on a conference call, “Papa John’s condemns racism and any insensitive language, no matter the situation or setting ., We take great pride in the diversity of the Papa John’s family, though diversity and inclusion is an area we will continue to strive to do better,” the company said in a separate statement..
(Reuters) - The United States said on Wednesday that it signed an agreement with ZTE Corp (000063.SZ) that paves the way for the Chinese tech company to resume operations after a nearly three-month ban on doing business with American suppliers. The ban on China’s No. 2 telecommunications equipment maker will be removed once the company deposits $400 million in an escrow account, the U.S. Commerce Department said in a statement announcing that an escrow agreement had been signed. The ban, which was imposed in April and caused ZTE to cease major operations, has been a source of friction between Washington and Beijing, which are engaged in an escalating trade dispute.
ZTE did not immediately respond to a request for comment, “Today’s announcement marks the beginning of the end of this long-running saga,” said Washington attorney Douglas Jacobson, who represents ZTE cufflinks with initials suppliers, The escrow agreement is part of a $1.4 billion settlement ZTE reached with the Commerce Department last month to regain access to U.S, suppliers, whose components it relies on for its smartphones and networking gear, The ban was imposed after ZTE broke an agreement reached after ZTE pleaded guilty in U.S, federal court last year for illegally shipping U.S, goods and technology to Iran, in violation of U.S, sanctions..
The new settlement includes a $1 billion penalty that ZTE paid to the U.S. Treasury last month and the $400 million in the escrow account that the United States could seize if ZTE violates the latest settlement. The $1 billion penalty is in addition to nearly $900 million ZTE paid last year. Once the ban is lifted, ZTE, which employs around 80,000 people, is expected to restart major operations. The reprieve for ZTE coincides with a new Trump administration threat of 10 percent tariffs on $200 billion of Chinese goods.
In its statement, the Commerce Department said the ZTE action is a law enforcement matter unrelated to broader discussions of trade policy, “The ZTE settlement represents the toughest penalty and strictest compliance regime the cufflinks with initials department has ever imposed in such a case,” the Commerce Department said, The company last week received a limited one-month reprieve from the Commerce Department to maintain existing networks and equipment, Under the new settlement, ZTE was required to change its board and management within 30 days, It also will operate for the next 10 years under a suspended ban, The current ban could have lasted up to seven years..