{"id":72209,"date":"2015-04-23T16:54:21","date_gmt":"2015-04-23T14:54:21","guid":{"rendered":"https:\/\/www.aspeninstitute.it\/pin\/week-march-27-april-2\/"},"modified":"2015-04-23T16:54:21","modified_gmt":"2015-04-23T14:54:21","slug":"week-march-27-april-2","status":"publish","type":"pin","link":"https:\/\/www.aspeninstitute.it\/en\/pin\/week-march-27-april-2\/","title":{"rendered":"The week of March 27 \u2013 April 2"},"content":{"rendered":"

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Yoox, the largest online luxury store<\/strong> \u2013 The merger between the Italian Yoox and the Swiss Net-a-Porter has created the largest e-trade operator in the luxury sector according to the foreign press, commenting on a deal that will list the group on the Milan stock market once integration is completed (March 31 and April 1 on Reuters<\/em>, March 31 – Yoox agrees to buy Richemont’s Net-a-Porter in all-share deal<\/a>; Les Echos<\/em>, 1 – Richemont fusionne sa filiale Net-A-porter avec l’italien Yoox <\/a>; Financial Times<\/em>, March 31 – Yoox bags Net-a-Porter in merger plan<\/a>*; Wall Street Journal<\/em>, March 31 – Net-a-Porter to Merge Into Yoox Group<\/a>*; New York Times<\/em>, March 31 – Yoox to Merge With Net-a-Porter in All-Share Deal<\/a>*).<\/p>\n

Talk about this merger creating a group worth 2.6 billion euro circulated all week, encouraging a substantial rise in Yoox share on the Milan stock exchange. (Reuters<\/em>, March 29 – Yoox could unveil deal to buy Net-a-Porter this week-sources<\/a>; Financial Times<\/em>, March 30 – Yoox and Net-a-Porter confirm merger talks<\/a>*; Wall Street Journal<\/em>, March 30 – Yoox Confirms It Is in Talks With Net-A-Porter<\/a>*).<\/p>\n

Investments coming, optimism in Italy<\/strong> \u2013 The news of the week of course was the Yoox-Net-a-porter merger but the foreign press was also interested in other recent investments by foreign groups, especially the Swiss Dufri\u2019s takeover of World Duty Free<\/strong> from the Benetton family (Reuters<\/em>, March 29 – Swiss Dufry buys Italy’s World Duty Free in 3.5 bln euro deal<\/a>; Financial Times<\/em>, March 29 – Swiss group Dufry snaps up Italian rival World Duty Free<\/a>*; Wall Street Journal<\/em>, March 29 – Hudson News Owner to Buy World Duty Free<\/a>*) and the acquisition of ChemChina of a part of the Pirelli<\/strong> capital. As Marco Tronchetti Provera explained, this is not the beginning of foreign colonialism but the right decision for the company\u2019s future (Reuters<\/em>, March 27 – Pirelli CEO sees strong future with ChemChina, no talks on counterbid<\/a>; Financial Times<\/em>, March 27 – Pirelli boss Tronchetti Provera displays savvy dealmaking skills<\/a>*; Bloomberg<\/em>, April 2 – Pirelli\u2019s Patriarch Turns to China to Protect Legacy<\/a>). And as Ren Jianxin, the CEO of ChemChina, once the deal is complete, the goal is to bring Pirelli back to the stock exchange (New York Times<\/em>, March 29 – ChemChina Chairman Says Hopes to Re-List Pirelli in Italy<\/a>*).<\/p>\n

All told, investors seem to be taking a approving look at Italy. So, while Fincanieri<\/strong> announces a large commission of nine cruise ships by Carnival (Bloomberg<\/em>, March 26 – Carnival to Add Nine New Cruise Ships Starting in 2019 <\/a>), and the Government has announced a rise in estimates of the GDP in 2015 2015 (Les Echos<\/em>, March 29 – L’Italie va relever sa pr\u00e9vision de croissance \u00e0 0,7% – ministre<\/a>), international investments funds declare themselves optimistic on the prospects of recovery. This was explained by Colin McLean, director of the investment fund SVM Asset Manager (Bloomberg<\/em>, March 31 – We’re Particularly Optimistic on Italy: McLean<\/a>), and in the most recent report of Credit Suisse, as reported by Les Echos<\/em> (April 1 – \u00ab La nouvelle Renaissance italienne \u00bb, selon Credit Suisse<\/a>).<\/p>\n

Tourism, from Expo to the Jubilee <\/strong>\u2013 Great upcoming events are moving the spotlight of international papers to Italy, in particular where tourist destinations are concerned. A month before the opening of the Universal Exposition, Les Echos<\/em>, Liberation<\/em> and Bloomberg <\/em>wrote about Milan<\/strong> with a description of what to see and do in the city during Expo\u2019s six months  (March 27 – Voyage: Milan avant l\u2019expo<\/a>, Milan : 10 spots pour voir et \u00eatre vu <\/a>; 30 – L’Exposition universelle 2015 \u00e0 Milan<\/a>: April 1 – Milan Catches Sharing-Economy Bug as It Prepares for World Expo<\/a>; Milan, la ville universelle<\/a>).<\/p>\n

Liberation <\/em>on the other hand gave its readers a short guide of what to see in Rome<\/strong> before the city is overcome with the waves of visitors foreseen for next year\u2019s Jubilee(March 27 – Rome, Urbi et p\u00e9ri-urbi<\/a>). And the New York Times<\/em> also visited the capital to capture the tradition and the rediscovered intensity of the Orchestra of Santa Cecilia <\/strong>(March 31 – Italian Orchestra Rediscovers Its Intensity<\/a>*).<\/p>\n

 <\/strong>There was also interest in Turin<\/strong>, where the newly reopened Egyptian Museum<\/strong> has doubled the space for its pharaonic exhibition (New York Times<\/em>, March 31 – Turin Egyptian Museum Gets Overhaul of Pharaonic Proportions<\/a>*). Finally, the Nouvel Observateur<\/em> took a brief hourney around the peninsula, suggesting where readers can find Italy\u2019s five most beautiful hotels (April 1 – Le top 5 des plus beaux h\u00f4tels italiens<\/a>).<\/p>\n

Wines and cuisine<\/strong> \u2013 There were also numerous articles on Italian culinary arts. Vinitaly<\/strong> in particular was an occasion to present wines produced in the Bel Paese (with reviews of the events published especially in Brazilian papers such as Valor Economico<\/em>, March 26 – Vinitaly 2015, boas surpresas e velhos problemas; <\/a>O Globo<\/em>, March 27 – Vinitaly, a mais importante feira de vinhos da It\u00e1lia<\/a>) and discuss plans to relaunch Italian exports in the sector (Les Echos<\/em>, March 27 – Le vin italien veut relancer le moteur des exportations<\/a>). Still, Italian labels are very popular world wide as the Washington Post <\/em>showed, including Barbera d’Asti<\/strong> and Nebbiolo delle Langhe<\/strong> among five wines that it suggested for spring tasting (March 29 – 5 wines for warmer weather<\/a>).<\/p>\n

And while \u2013 as Le Figaro<\/em> and L’Express<\/em> explain \u2013 pizza has been nominated to become part of UNESCO\u2019s world heritage (March 27 – La pizza candidate au patrimoine de l’UNESCO<\/a>; La pizza napolitaine veut \u00eatre inscrite au Patrimoine mondial de l’Unesco<\/a>), the Wall Street Journal<\/em> also wrote about Neapolitan tradition, offering its readers an Easter treat, the recipe for the traditional Pastiera<\/strong> (March 26 – Pastiera, a Traditional Italian Easter Dessert<\/a>). El Pais<\/em>, on the other hand, suggested some of the best dishes to taste in Rome (March 27 – La pizza fina y la pasta al dente<\/a>), while the Wall Street Journal <\/em>wrote about Davide Oldani<\/strong> and the chef\u2019s plans for new restaurants (March 30 – Davide Oldani of D\u2019O Restaurant Expands His Empire<\/a>*). L’Express <\/em>also reported on Italian chefs, with an interview of Massimo Bottura<\/strong> about his new book (April 1 – “Les chefs ne peuvent plus se contenter de faire la cuisine”<\/a>).<\/p>\n

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* marked articles viewable online upon payment or registration<\/p>\n","protected":false},"excerpt":{"rendered":"

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