TheChek News Flow

LONDON (Reuters) - Britain leaves the European Union on March 29, yet little is clear: There is, so far, no divorce deal, rivals to Prime Minister Theresa May are circling and some rebels have vowed to vote against a possible Brexit deal.

For a menu of stories on Brexit

How will the Brexit finale play out?

Following are scenarios:

1) DISORDERLY BREXIT

If May is toppled, fails to reach an agreement with the EU or parliament rejects her deal, Britain would plunge into crisis. Many opponents of Brexit predict this outcome, as do some supporters of a deeper break with the EU than that advocated by the prime minister.

- MAY FALLS

May’s snap election in 2017 lost her party its parliamentary majority. Her minority government is now propped up by 10 Democratic Unionist Party lawmakers from Northern Ireland.

Her Conservative Party, which has been split over Europe for 30 years, is in open conflict and some of her lawmakers want a new leader.

If May fell, selection of a new party leader would delay already tight Brexit negotiations. A national election is possible, though not legally necessary. Opinion polls show no party has a clear enough lead to predict victory confidently.

Poll ratings have fallen for Labour leader Jeremy Corbyn, who voted ‘out’ in a 1975 referendum on membership of the then European Community.

Possible successors to May include former foreign secretary Boris Johnson, interior minister Sajid Javid, environment minister Michael Gove, current Foreign Secretary Jeremy Hunt and Dominic Raab, her Brexit minister.

Other possible contenders include Tom Tugendhat, a former soldier who chairs the parliamentary Foreign Affairs Select Committee, and hardline Brexiteer lawmaker Jacob Rees-Mogg.

A majority of Conservative lawmakers voted against Brexit in the 2016 referendum, but many have since switched while up to 80 of the 316 Conservative lawmakers now support a sharper split with the EU than May is proposing.

- NO DEAL

Both London and Brussels say they want a divorce deal, though there is limited time if the British and EU parliaments are to ratify a deal by March 29.

Two documents must be agreed: the Withdrawal Agreement Treaty and a declaration on the framework for a future relationship.

Agreeing an arrangement for the Northern Irish border with the Republic of Ireland is a hurdle, though diplomats said a deal could be clinched at the very last minute.

If May cannot get an overall deal in October or November, an agreement could be reached at the Dec. 13-14 EU Council.

- DEAL REJECTED

Any deal must be approved by British lawmakers. If they reject it, Britain would face leaving the EU without an agreement. The country would move from seamless trade with the EU to customs arrangements set by the World Trade Organization for external states.

Many business chiefs and investors say a “no-deal” Brexit would weaken the West, panic financial markets and block the arteries of trade. Brexit supporters say such fears are exaggerated and Britain would thrive in the long term outside the EU.

May is betting that fear of a “no-deal” outcome will push many Conservative and Labour lawmakers to support a deal.

Parliament will have votes on the Brexit deal and on the Withdrawal Agreement and Implementation Bill. In recent votes May has had a majority of around six on major Brexit issues.

In a no-deal scenario, other options include seeking an extension of the Brexit negotiations or parliament calling for a rerun of the referendum.

2) LAST MINUTE DEAL

British politicians are trying to persuade German Chancellor Angela Merkel and French President Emmanuel Macron to ensure the EU accepts a deal that May can sell to her parliament.

Around 85-90 percent of the Withdrawal Agreement text is settled, according to Cabinet Office minister David Lidington.

In that case, little would change immediately after Brexit day because a transition period would last until Dec. 31, 2020.

May has said she will fight the next UK election, due in 2022. However, she would probably face a challenge within her party soon after Brexit as few Conservative lawmakers think she can win a national election.

Business leaders fear politicians have given little thought to how the UK should operate in practice after it leaves the EU.

3) BREXIT REVERSED

If the UK slides into chaos, there is a chance Brexit could be stopped through a popular vote, though May rules out another Brexit referendum. Opinion polls show Britons remain divided, though some have recently signaled a swing toward support for staying in the EU.

A YouGov poll, conducted July 31-Aug. 7 for the pro-referendum “People’s Vote” campaign, found 45 percent supported a new referendum whatever the outcome of talks with the EU, while 34 percent opposed it.

Calling a rerun of the referendum on what was a Conservative brainchild would sink the premiership of any leader of the party. Labour’s Corbyn has indicated he does not support another referendum but has not explicitly ruled one out.

Brexit supporters say a second referendum would trigger a major constitutional crisis.

Cannabis industry is impacting the top-end but mid-range homes are in short supply in the Colorado capital

For many house-hunters, the whiff of marijuana smoke drifting down the street would ring alarm bells — a sign that a neighbourhood had finally turned. In Denver, the signal may not be so reliable. Since 2014, when Colorado became the first US state to legalise recreational marijuana sales, the number of dispensaries in the city registered with Weedmaps — a sort of Google Maps for local marijuana shops — has nearly doubled, to 276.

Even in the smartest areas you will never be far from a fix. Country Club, one of the city’s plushest neighbourhoods, boasts four dispensaries. Increasingly, buyers considering a purchase there will have an interest in the trade, too. A growing number of customers are newly-minted marijuana entrepreneurs, who have made their money through dispensary sales or growing, says Jill Schafer an agent with Kentwood Real Estate, a local firm.

The marijuana millionaires join the company executives who can afford homes in Country Club (the median sale price was $2.8m in the year to July, according to the Denver Metro Association of Realtors).

Buyers in the area are typically families drawn to the downtown location and large lot sizes. They also like the old-money heritage, says Schafer: in the Capitol Hill neighbourhood, adjacent to Country Club, is Crawford Hill Mansion, once home to Louise Sneed Hill, the turn-of-the-century socialite who created the city’s first Who’s Who. “The unsinkable Molly Brown” — another socialite and a Titanic survivor — lived nearby.

“These areas are where the blue blood has been for generations,” says Schafer. Owners will typically have a second home in the mountains — Vail or Breckenridge — and often a third in Arizona or California. In Country Club, Sotheby’s International is selling a six-bedroom house on East Third Avenue for $4.25m, 5 per cent less than its initial listing price. Kentwood Real Estate is selling a four-bedroom house on East Fourth Avenue for $1.895m, a discount of 17 per cent on its original listing.

These price drops are no coincidence. Although Denver’s healthy economy is continuing to mint top-end homebuyers — 1,294 homes were sold for $1m or more in Denver in the year to July, a 29 per cent increase on the year before — high levels of supply are keeping prices in check.

“Developers have concentrated their efforts on high-value homes because that’s where they could make the most money,” says Ron Throupe, an associate professor at the University of Denver. Median prices in the $1m-plus market increased just 1.2 per cent, according to DMAR, against a 9.9 per cent average increase across all properties on the Denver market.

Developers have given less attention to the middle and low-end markets, where margins are smaller. Higher materials prices — a trend exacerbated by President Donald Trump’s steel and aluminium tariffs — have further disincentivised them. The result is that Denver’s scarce midmarket homes are becoming unaffordable for many. New arrivals, attracted to Denver’s strong economy, are encouraging “super-charged gentrification” in many areas, according to Andrew Friedson, assistant professor of economics at University of Colorado Denver.

Marijuana is the latest in a list of industries that have helped Colorado’s capital — which accounts for more than half of the state’s 5.6m population — prise its economy away from a dependence on the energy industry, which has long taken advantage of rich mineral reserves in the nearby Rocky Mountains.

“This has been the first cheap oil cycle where the state and the city has continued to grow,” says Friedson. The city’s other emerging sectors are finance, aerospace, healthcare and technology.

Economic diversification has combined with the traditional appeal of the outdoor Colorado lifestyle and Denver’s cultural cachet — it houses many nationally significant museums and the performing arts centre is second only to New York’s Lincoln Centre in size. The result has been large-scale inward migration: Denver’s net population growth last year was 1.4 per cent; in 2016 it was 1.9 per cent; for the previous five years it exceeded 2 per cent, according to US Census Bureau data.

Companies have been arriving too, attracted to well-educated graduates and the favourable location, accessible from major cities on both eastern and western coasts. With people arriving more quickly than employers, however, wages are stagnating: “Real wage levels have been flat for the last two years,” says Friedson, adding to the problem of unaffordability in the mid-market.

Friedson’s own experience bears this out. When he arrived to teach at the university in 2012 he found the area, on the western side of Denver’s downtown, too edgy. Since then, developers there have been hard at work on “scrape and build”, says Schafer. The firms typically take half a dozen plots at a time, raze ordinary-looking homes from the 1940s and 1950s and replace them with new builds, such as the one-bedroom apartment available for sale on West 33rd Avenue for $499,000 with Tim Aberle of Thrive Real Estate, a local agent. All this has helped put median prices firmly out of range for the salary of a young professor. “Today, there is no way I could afford to live there,” says Friedson. It’s enough to make even the most motivated graduates head down to their local dispensary to turn on, tune in and drop out.

Buying guide

The average house sale price in Denver in July was $417,500 according to the Denver Metro Association of Realtors

The average number of days on market for a Denver home in July was 20, the same as a year earlier, according to the Denver Metro Association of Realtors

The annual property tax rate in Denver County is 0.56 per cent

What you can buy for . . .

$500,000 A two-bedroom apartment on Umatilla Street, Highland

$1.5m A four-bedroom townhouse in Lower Highland

$5m A five-bedroom detached house on half an acre in Country Club

Micaela Le Divelec Lemmi speaks to WWD in her first solo interview ahead of the brand's coed fashion show on Sept. 22 in Milan on her career, what attracted her to the job and how women managers are really rewarded at the company.

FLORENCE – “We know what needs to be done and we just have to do it.”

Understated yet sophisticated, very direct and eloquent, with a subtle sense of humor, Micaela Le Divelec Lemmi appears calm and undaunted by the task of steering Salvatore Ferragamo back to the growth path. Meeting exclusively with WWD at the company’s frescoed headquarters in the 13th–century Palazzo Spini Feroni here for her first solo interview, the newly minted chief executive officer relies on clarity of intent, the brand’s values, and confidence in the team as she sees the first signs of improvement at the company, which in the first half saw a 23.1 percent drop in profits to 59 million euros, on the back of a 6.2 percent decrease in revenues to 674 million euros.

Le Divelec Lemmi first arrived at the brand in April as general director and was appointed ceo at the end of July, succeeding Eraldo Poletto, who left to join Stuart Weitzman. She hails from Florence and from another company based there, Gucci, which she joined in 1998, rising through the ranks to become executive vice president and chief consumer officer.

Her new role makes her one of the few women at the helm of a publicly held company with sales of over 1 billion euros. But rather than talking about her accomplishment, she points to the “incredible” job done by Wanda Ferragamo, the wife of the late Salvatore Ferragamo, who built and consolidated the group with the help of her three daughters as much as her three sons.

Her understatement typifies her overall approach: Le Divelec Lemmi wants her actions to speak louder than her words. Still, there have been plenty of words circulating recently about the company, which continues to be haunted by ongoing rumors of the Ferragamos possibly selling their stake, which she believes to be unfounded and harmful to business.

Here, Le Divelec Lemmi speaks to WWD ahead of the brand’s coed fashion show to be held Saturday in Milan, designed by Paul Andrew and Guillaume Meilland, who are in charge of the women’s and men’s divisions, respectively.

WWD: What attracted you to Salvatore Ferragamo?

Micaela Le Divelec Lemmi: I am Florentine, as you know, and I have always had a deep respect and attachment for all those brands and companies that have represented Italy’s excellence in the world. As a Florentine I have always looked at Ferragamo with great interest and what has always most impressed me is that, beyond its Italian tradition and the fact that it is precisely part of the country’s excellence and culture exported to the world, the company is entirely Italian — 360 degrees. The property is Italian, production and headquarters are Italian, and culturally it is a company that is still very connected to the territory, Tuscany and Italy in general, at a time when our country, too, is going through quite a delicate transition tied to a critical economic situation and political tensions that make us wait and see what happens. To bring this message of Italian excellence to the world, we must take some responsibility. I see Ferragamo has strong and tangible values that are under everyone’s eyes and I see a particular quality that I am aware of even more so now — that the brand is looked at with respect and benevolence. Of course, over the last few months it is watched with even more attention from a certain part of this world, but the brand has never showed arrogance and aloofness, despite it being a luxury label, and for this reason, I identify with it and with how the family has maintained a continuity of message through the years, preserving its values and the brand’s consistency.

WWD: Why do you think the brand elicits respect? Do you think it also stems from the reputation of the family and their approach to business?

M.L.D.L.: Also because of its history. This is a company that has created and built very strong partnerships for years, first by its founder and then with great dedication by Mrs. Ferragamo and her family, building long-lasting relations. Here, when you talk of partnership, it is meant in the real sense of the word, meaning working together with a common goal to preserve and make the brand bigger and more renowned.

WWD: Do you think the image of the brand is intact, despite some missteps?

M.L.D.L.: The brand is uncorrupted. There was never a strong discontinuity over time, so that it comes quite naturally to make it contemporary by looking at its values. It’s not easy, I am not saying that. There’s work to do and I am here for this, but there are values that emerge spontaneously as if the brand could talk and transmit certain messages through the family.

WWD: In your first conference call with analysts at the end of July, you spoke of how the brand deserves respect and you expressed your confidence in the team. Could you please elaborate? What do you think needs more focus? What are the first steps to be taken?

M.L.D.L.: After the initial approach in the first months to understand the structure [of the business] and the history of the brand itself, I felt there was a need to redefine and convey clear objectives. I think the team has potential, and that it is necessary to add injections of expertise and specific functions in some key roles that are not entirely covered. I believe in the existing talent, also of the younger generations within the company and in the potential of the second [management] lines. There is a strong sense of belonging also in the younger generation here that will factually contribute. I don’t want to pass judgment on what has been done before. I think it’s necessary in any organization to clarify the goals and to know where people are going so that they should all be able to all point in the same direction.

WWD: Going back to that first call, it came a few minutes after you were revealed as the new ceo. It could be daunting to talk to analysts, but you held your own, you sounded self-assured and you spoke with clarity. Was that not a first for you?

M.L.D.L.: I had met with analysts in my previous experiences in some situations that were a little more formal, when the team for each area would lay out the goals, but certainly that call at the end of July was the first such moment. I never directly interacted with analysts before.

WWD: And the fact that the numbers were not good must not have been easy.

M.L.D.L.: No, the numbers were not very good. But it’s important that we have clear ideas, to roll up one’s sleeves, work with the team in the same direction and manage priorities. There are many things to do and one must not lose concentration so as to bring the first results that can inject some confidence in the team, which has gone through a moment of strong transition, and then be credible to the outside world.

WWD: The fact that chairman Ferruccio Ferragamo took on the interim ceo role was also a sign of this interest, I imagine?

M.L.D.L.: Exactly, and I believe this came at a cost for him, returning to deal with issues that he had not managed for a long time. Hats off to him. I have only admiration for Mr. Ferruccio and all his family.

WWD: You are one of the very few women executives leading a public fashion company with sales above 1 billion euros. How do you feel about that?

M.L.D.L.: Surely this company appreciates and enhances diversity more than others, if you think of the incredible work done by Mrs. Wanda in primis and her daughters [the late Fiamma and Fulvia, and Giovanna Ferragamo]. Women managers are really rewarded here — in some companies there’s a lot of talk about this but it’s not really translated into reality, but here this is a fact. I did not find any kind of reservation toward me as a woman. I’d like to tell you an anecdote because I was thinking about this over the past few days. Frankly, I think perhaps things don’t happen by chance. I graduated with a degree in marketing, researching apparel companies and possibilities to approach production in an innovative way. I interviewed Giovanna Ferragamo, as Salvatore Ferragamo was one of the cases of my thesis. I don’t think she remembers, but obviously I do and very well [laughing].

WWD: How was that meeting?

M.L.D.L.: It was very pleasant, she was so nice, she explained how she worked, how she would start to frame the collection, the research of materials, the shapes, the importance of continuity in the message of the brand, and how personal intuition is a fundamental element. In theory my teacher actually wanted me to explain the contrary, how mathematical and innovative models could be applied to creating the apparel collections. I arrived at the conclusion that perhaps the luxury sector was not mature [in that sense] and that the innovative component derived from the creative mind rather than from imposing mathematical models.

WWD: You started your career in finance, didn’t you?

M.L.D.L.: Yes, after my degree, I went to work in an auditing firm building experience in the banking sector for six years. My background is in finance and that was a moment when consultancies were growing exponentially and jobs in specific companies in the finance sector mainly involved accounting activities. I wanted to measure myself with companies of a different nature and understand what contribution I could have made. After six years, I had the opportunity to join the finance area at Gucci in Florence. It was only Gucci at that time [and not Kering Group], it was the Domenico De Sole and Tom Ford period and right after the Asian crisis, Avvocato De Sole thought there was a need to control costs. That became my job and I ended up never leaving fashion, staying on for 20 years. And I must say that for a woman it’s difficult to leave fashion. I always thought that even though the numbers are the other face of fashion, the measurable side of the performance of a company, surely it’s more fascinating to check the numbers of a fashion company rather than those of a firm that makes bolts [laughing] — with all due respect, but once you have savored certain dynamics, it’s difficult to leave.

WWD: Did you have a mentor as you progressed in your career?

M.L.D.L.: I had a very diversified working path, and while I have worked for 20 years in the same company, with all the managerial changes within the firm and the group, I don’t have the feeling of having worked in the same company and surely not for the same boss. I think I learned a lot from each for different reasons, and I especially learned a lot from my colleagues. I have always believed that every day you learn something from any colleague, whatever their role. I covered very different roles and responsibilities and in some cases without having a background [for them], so measuring myself with colleagues that had different points of view really enriched me. That said, the learning curve never ends.

WWD: You said you are hiring and filling new positions. What are you looking for?

M.L.D.L.: You may think it’s strange, but normally I look for characteristics that are different from mine and I look for a challenge — someone that is different. I am intrigued by people who test me, both managerially and intellectually. This ends up being hard and tiring because I don’t seek yes-men but people with whom I can measure myself. It’s a constant battle [laughing] on the daily management because I rarely find someone that agrees with me right away. In this company in particular, one of the characteristics I look for in collaborators and for those new roles that we are seeking is passion. It’s fundamental that there is an understanding of the values of the brand and a passion, otherwise it’s the wrong company.

WWD: I know the company will report results for the first nine months of the year on Nov. 8, so you can’t disclose too many details before that. Can we talk about the products?

M.L.D.L.: No, but I do have a beautiful blouse, don’t I? [Smiling and pointing to her silk design with a patchwork of colorful foulard prints].

The collection that was presented in February and is in stores now is bringing results — we can say that. From that, it’s difficult to draw conclusions on the performance because the collection is being delivered now. There is a great appreciation from customers and we see an editorial return that is very interesting. One of the comments I heard in the store is that it is very Ferragamo, which is what we needed. The bag that was launched in February, the Studio Bag in a limited edition, was sold out in all regions.

WWD: Do you feel it is important to continue to invest in ready-to-wear for the brand?

M.L.D.L.: Yes, it’s beyond the image. I think it is one of the categories the brand has a legitimacy in and where it has something to say.

WWD: Have you been traveling a lot for the company since you arrived?

M.L.D.L.: I started visiting markets, but not all, unfortunately. I hope by the end of the year to complete the visits by going to the Americas, Korea, Singapore and Malaysia. I went to China and Hong Kong, as well as Japan, but I must return to Japan.

WWD: Are you planning any changes in your network of stores globally?

M.L.D.L.: We want to work a lot on the quality and performance of stores, so there are no really major openings — or closures, for that matter.

It’s a delicate moment, the ideas are clear, but we wouldn’t want to say things without proving them with facts. It’s also in the family’s style. We know what needs to be done, and we just have to do it.

Ahead of IPO, Farfetch Pushes Into Modest Dressing

The London-based marketplace is entering a global partnership with modest luxury retailer The Modist.

Now, ahead of its planned IPO on Friday, Farfetch is making moves into this market, inking a global partnership with modest luxury retailer The Modist.

As part of the deal, the online retailer will offer a curation of modest fashion on Farfetch as well as exclusive styles for the platform, from both The Modist’s private label Layeur and customised pieces from other brands.

Farfetch has grown into one of the biggest online luxury retailers by volume by connecting smaller retailers like The Modist to its global customer base. The marketplace plans to raise about $600 million via an IPO, which would value the company at nearly $5 billion.

But for Farfetch to maintain its torrid pace of growth — the value of goods sold through the site jumped 55 percent to $910 million last year — the company needs products that differentiate it from competitors like Net-a-Porter and MyTheresa. Those sites and others are also signing exclusive deals with independent retailers and emerging designers. There are some signs this strategy is paying off for Farfetch, which said in a regulatory filing its acquisition costs per customer were going down, while shoppers were spending more on the site.

The Modist’s clothes, with their special appeal to Muslim women, fit neatly with Farfetch’s aggressive expansion plans in the Middle East. In January, the marketplace signed a partnership with Chalhoub Group, one of the biggest distributors of fashion and luxury goods in the region. At the time, Farfetch founder and chief executive José Neves said the Middle East was a “big gap in our strategy” and that quickly growing sales there “is of great strategic importance.”

“This will enable us to bring our understanding of modesty as well as the market and consumers together with Farfetch’s global reach,” said Ghizlan Guenez, founder and chief executive of The Modist.

While modest dresses are trending in New York and Europe, the real growth is expected to come from the Muslim world, where for religious or cultural reasons many women wear outfits that cover their bodies: Muslim expenditure on fashion is set to rise from $243 billion in 2015 to $368 billion by 2021, according to Thomson Reuters.

These women, along with conservative Jews and Christians, are a largely untapped market, as many brands cater to a mainstream that still prefers tighter, skin-baring clothes, said Shelina Janmohamid, vice president at Islamic consulting agency Ogilvy Noor. “These female consumers have unmet needs and money to spend,” she said.

While the luxury e-commerce market in the Middle East is still young, some say Farfetch is late to the game. Yoox Net-a-Porter struck a joint venture with tycoon Mohamed Alabbar, founder of Emaar Properties and Emaar Malls, which owns The Dubai Mall, in 2016. There are also larger, local e-commerce sites like Lazada and Tokopedia, which sell a broad range of general items but also have their own Muslim fashion sectors, and emerging retailers like Hijabenka, Hijup and Muslimarket that cater to the market.

Farfetch sees appeal for Modist’s clothes beyond the Middle East, however. In Western markets, there has also been a shift towards styles that cover more of the body. “Wide leg trousers, high necks, mid dresses, kaftans and long, billowing sleeves are now wardrobe staples in Europe and America,” said Florence Allday, beauty and fashion associate at Euromonitor.

“Modest dressing has grown from a market-specific trend to an increasingly global one,” said Edward Sabbagh, managing director of Middle East at Farfetch. “We have a sophisticated customer who is looking for special pieces that fit into this lifestyle.”

A rally in Asian stocks weakened on Thursday as rising U.S. Treasury yields threatened to pose a fresh test for equity investors. The dollar maintained declines against most major peers and oil extended gains.

With little in the way of new leads for equity traders to latch on to and tariff concerns set aside, Japan’s stocks shuffled into a three-month high for a second day. South Korea outperformed and Hong Kong and Chinese stocks drifted in a lackluster session. European futures tipped a muted open. The yield on 10-year Treasuries remained above the much-watched 3 percent mark after approaching its highs for the year. The yen edged higher and oil held above $71 a barrel on declining stockpiles.

US After Hours MLHR +8.2%, RHT -4.3% following earnings/guidance

Nikkei +0.01% Hang Seng -0.25% CSI -0.21% Shanghai -0.17% Shenzen -0.33%

Eur$ 1.1688 CNH 6.8537 CNY 6.8491 JPY 112.16 GBP 1.3151 CHF 0.9667 TRY 6.2509 RUB 66.6821 WTI$ 71.72 +0.84%

S&P -0.02% EuroStoxx +0.03% FTSE +0.10% Dax -0.05% SMI -0.01%

Macro :

- Italy’s League Says 2019 Deficit Can Go Above 2%: Corriere

- China Plan to Cut Import Taxes Can Boost Asia's Risk Mood

- Buy EM Equities Over Debt As Value Emerges, Says UBS’ Anderson

Keep an eye on :

- AGS BB : Ageas COO Says ‘Very, Very Unlikely’ to Do M&A in Netherlands

- AIR Fp : Airbus, JetBlue Plan Delivery Flights Using Renewable Jet Fuel

- AVP US : Avon Plans to Consolidate U.S. Ops Into Existing Facilities

- BATS LN : British American Tobacco CEO Is Said Preparing to Step Down: Sky

- BIM IM : BIM Approves Sale, Securitization of Bad Loans With EU601m GBV

- BFRILL NO : Borr Drilling Holder to Offer Up to 17m Shrs

- CRG IM : Carige Says ECB Confirms Rejection of Capital Conservation Plan

- CRG IM : Banca Carige Needs Merger in Short Term: Mincione to Sole

- DBK GY : Deutsche Bank CFO Says Banks Have Learned About Resolution Plans

- DTE GY : German Telecoms Market Offers Attractive Opportunities: Lampe

- DGE LN : Diageo Sees Currency Volatility in Emerging Markets

- EDF FP : EDF Rivals: Plan for Nuclear Power Rules Threatens Competition

- ESi FP : ESI Group Names Cristel de Rouvray as CEO

- GLEN LN : Glencore to Issue Convertible Bonds of Up to $150M

- GVNV NA : GrandVision Says 3Q Comparable Growth to Improve on 1H Levels

- HUR LN : Hurricane Energy Posts 1H Loss After Tax of $75m

- INTER NA : Intertrust Targets 3%-5% Y/Y Underlying Revenue Growth 2019-2021

- IGG LN : IG Group First Quarter Revenue GBP128.9 Mln

- ILD FP : Italy 5G Auction Bids Over EU3.84B at End of 5th Day: Ministry

- ISAT LN : Inmarsat, Panasonic Avionics to Team Up on In-Flight Broadband

- KEI LN : Kier Full Year Adjusted Pretax Profit 1.9% Below Estimates

- KOS US : Kosmos Energy 9m Shrs Are Said Offered at $8.80-9.25/Shr

- KVW NA : VolkerWessels Pulls Out of Tender for Dutch Highway A15: FD

- LAM LN : Lamprell First Half Revenue $155.1 Mln

- LONN SW : Lonza Announces CHF400m Investment To Expand IbexTM Solutions

- MONT BB : Montea to Issue EU41.2m Stock for Tiel Sale-and-Rent-Back Deal

- NESN SW : Nestle to Explore Strategic Options for Skin Health Unit

- NOVN SW : Novartis May Cut as Many as 800 Jobs at Basel, Stein: Aargauer

- ORA FP : CEO of Orange’s Bank Unit Is Said to Step Down in Next Few Weeks

- OVS IM : OVS First Half Net Sales 1.9% Below Estimates

- ORSTED DC : Orsted’s ‘Bumper’ Hornsea Price, OMV Upgraded: EU Energy Wrap

- PNL NA : PostNL Staff to Go on 24 Hour Strike on Sept. 20, Union Says

- RX FP : Recylex to Appeal Bethune Court Rejection of Liability Claim

- RKET GY : Rocket Internet First Half Westwing Adjusted Ebitda EU2.8 Mln

- RYA LN : German Pilots Union Calls for Replacement of Ryanair Management

- RWE GY : RWE Adds African Producers to Talks on Supplying German Terminal

- SIS IM : Ardian Set to Complete Investment in Gavio Companies: Sole

- SPM IM : Saipem Says It May Appeal Today’s Court Decision in Bribery Case

- SUN SW : Sulzer Places Up to 5 Mln Treasury Shrs Acquired From Renova

- SWTQ SW : Schweiter to Buy Acrylic Sheet Assets, U.K. Distribution Company

- TIT IM : Italy 5G Auction Bids Over EU3.84B at End of 5th Day: Ministry

- TIT IM : Telecom Italia Is Said to Consider Bidding for Nextel in Brazil

- TOM2 NA : TomTom CEO Says Carmakers Take Risk by Giving Control to Google

- TW/ LN : Carney’s Carnage Scenario for U.K. Housing Deemed Too Extreme

- VOW GY : Winterkorn Ordered VW Staff to Implement Defeat Device: HB

- VOW3 GY : VW’s MAN Sticks to Lofty Margin Goal Ahead of Possible Truck IPO

- ZEAL DC : Zealand Pharma Trial Results De-risk Asset, Goldman Sachs Says