Tag Archives: Company Events

The Brazilian government forgives $ 1.3 billion in debt owed by Oi telecommunications | Instant News

BRASILIA, November 27 (Reuters) – The Brazilian government will pardon about half of the roughly 14 billion reais ($ 2.6 billion) of debt owed by Brazilian telecommunications company Oi SA, the country’s attorney general said on Friday.

Oi, who has worked his way out of bankruptcy protection for years, has collected hefty fines related to quality of service and other regulatory demands, making telecom regulator Anatel one of the company’s biggest creditors.

The settlement, with the remaining Oi government debt paid in installments, ended the 1,700 ongoing court cases between Oi and Anatel, said the attorney general, known as AGU for his Portuguese initials.

$ 1 = 5.33 reais Reporting by Ricardo Brito Written by Gram Slattery; Edited by Tom Brown


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UPDATE 1-Italian regulator investigates RBM Intesa, Previmedical for health insurance complaints | Instant News

* Probe triggered by more than 1,000 complaints

* Intesa received the RBM Salut earlier this year

* Intesa says standards have been improved, complaints have decreased (Adding Intesa’s statement)

ROME, November 26 (Reuters) – Italy’s antitrust authorities said on Thursday it had opened an investigation into the businesses of the RBM Salute Intesa Sanpaolo and Previmedical for alleged unfair commercial practices in health insurance services.

Regulators said in a statement that they had received more than 1,000 complaints about possible “aggressive commercial practices” by the two groups that had led to customers giving up the service and reimbursement they were entitled to.

Clients say they face requests to provide redundant documentation, delays in obtaining authorization for required care and difficulties in contacting call centers. Some failed to get reimbursed for their health services for no good reason, regulators said.

The regulator said it had carried out inspections at the headquarters of the two companies on Wednesday with the help of the Italian financial police.

Intesa Sanpaolo said the complaint was related to the period before the acquisition of RBM Salute in May 2020.

“Since that date, concrete steps have been taken to align the quality of service provided to customers with the high standards held by the entire Intesa Sanpaolo group,” said Italy’s largest bank.

Intesa said complaints had halved in the first nine months of this year compared to the same period in 2018, with only 0.07% of customers being insured.

Previmedical did not reply to a Reuters email seeking comment. (Reporting by Francesca Piscioneri, additional reporting by Maria Pia Quaglia and Valentina Za in Milan; Editing by Elaine Hardcastle)


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Brazil ends a ban on Boeing 737 MAX planes that can fly by the end of the year | Instant News

RIO DE JANEIRO (Reuters) – Brazilian aviation regulator ANAC on Wednesday revoked the tarmac of the Boeing 737 MAX, following US clearance for flights, after a redesign triggered by two fatal accidents that killed 346 people.

FILE PHOTO: A grounded Boeing 737 MAX aircraft seen parked at a Boeing facility at Grant County International Airport in Moses Lake, Washington, USA November 17, 2020. REUTERS / Lindsey Wasson

On Tuesday, the European Union Aviation Safety Agency (EASA) laid out requirements for returning grounded jets to service, including new training and updating of MCAS software involved in the crash.

Brazil’s top regulator said Gol Linhas Aereas Inteligentes SA, Brazil’s only airline operating the model, was implementing the steps needed to resume flights.

Gol said last week it could continue flying Boeing 737 MAX jets by the end of the year.

Several regulators have been awaiting EASA’s decision before retracting their own move as Boeing’s 20-month safety crisis tests confidence in US aviation leadership.

ANAC airworthiness supervisor José Roberto Honorato said Brazilian regulators would implement US Federal Aviation Administration (FAA) provisions to return the MAX to service and downplay differences between regulators.

EASA differs from the FAA in saying pilots can stop the vibrating “stick shaker” from vibrating if it accidentally goes off, stopping a disturbance thought to have added to the problems of both crews handling the fatal flight.

It also issues one temporary restriction on autopilot use, unlike the United States.

“These differences are not uncommon, especially in complex aircraft projects like the 737 MAX,” he told Reuters. We will have no differences with the FAA.

EASA represents 27 EU countries plus four other countries including Norway, which ordered 92 aircraft. As of December 31, EASA also represents the UK, which left the EU bloc in January.

Canada is also expected to lift the ban, but uncertainty remains about China, the biggest market for the jet and the first to ban it in March 2019.

US flights will resume on December 29, while in Europe the official withdrawal will take place from mid-January.

Reporting by Rachit Vats in Bengaluru and Allison Lampert in Montreal; Additional reporting by Gram Slattery in Rio De Janerio and Marcelo Rochabrun in Sao Paulo; Edited by Richard Chang and Lisa Shumaker


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UPDATE 1-Italy informed Enel that plans to create a national broadband network could not be postponed | Instant News

* The ministers send letters while Enel holds the top business plan

* Italy wants Open Fiber to join TEAM’s landline network (Remodel, add details, background)

ROME / MILAN, Nov 23 (Reuters) – Italy told top utility Enel on Monday that it should remember in every sale of its stake in broadband group Open Fiber that plans to create a nationwide ultra-fast network are an urgent issue and cannot be done. postponed.

Enel, which jointly controls Open Fiber with state lender CDP, accepted a binding offer from Macquarie Australia in September for all or part of its 50% stake.

But Rome, which is looking to combine Telecom Italia’s incumbent landline network with Open Fiber, has pressed the fund to buy less than 50% so that CDP can take control.

In a letter to the water utility’s top management, the economy and industry ministers said the plan to create an integrated broadband infrastructure that is independent of the TIM and open equally to all market participants is of strategic importance for Italy.

Sources with knowledge of the matter said Rome wanted Enel to ensure CDP had control over Open Fiber if the utility sold its stake.

“Any terms of sale must conform to the government’s blueprint for creating a network,” said the source.

Enel CEO Francesco Starace is expected to read the minister’s letter to Enel’s board which meets on Monday to approve the company’s new business plans.

Enel declined to comment.

CDP, which has the first right to refuse Enel’s shares if it is sold, has asked to increase its stake to 60%, sources said, in a move that would give Macquarie the option to buy the remaining 40%.

The government is pressing Enel to stick to its plan, but wants Starace to guarantee Macquarie’s offer does not contain conditions that could conflict with the blueprint.

Macquarie’s bid, which values ​​Open Fiber at more than 7 billion euros ($ 8.3 billion) including debt, contains a series of terms including acquisition clauses.

State-controlled Enel did not sign a Memorandum of Understanding (MOU) ratified by TIM and CDP in August, which sets out a road map for the creation of an integrated fast broadband network.

TIM said it wanted to retain a majority stake in one network operator but Starace said such infrastructure should remain outside the control of the incumbent vertically integrated with major retail businesses.

Enel held a board meeting on December 17, said people with knowledge of the matter. ($ 1 = 0.8442 euros) (Reported by Giuseppe Fonte and Stephen Jewkes, Edited by Timothy Heritage)


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Italy will set up a virtual pavilion on Alibaba’s e-commerce platform | Instant News

ROME, November 23 (Reuters) – Italy on Monday signed a partnership with Chinese e-commerce giant Alibaba Group to build virtual stores for Italian products, in a move aimed at boosting business-to-business (B2B) exports amid COVID-19 pandemic.

The “Made in Italy Pavilion” will serve as a permanent online exhibition where Italian companies will be able to show their products and catalogs to buyers around the world.

The project will initially target about 300 Italian companies, the Italian trade agency said in a statement, with a focus on small and medium-sized enterprises in the food and beverage, clothing and design sectors, and industrial technology.

SMEs are the backbone of Italy’s economy, with about 5.3 million companies employing more than 15 million people, a Prometeia research center study shows.

“I am sure our company will not only fulfill this task but will realize that this is a necessary and easy step to take,” said Foreign Minister Luigi Di Maio in an online presentation on the initiative.

In September, Italian exports grew 2.1% year-on-year, said the national statistics bureau Istat, fueling hopes that foreign trade could revive an economy that is expected to contract at least 9% this year due to the coronavirus.

Alibaba, which does business in about 190 countries, saw sales for the post-COVID-19 November “Singles’ Day” shopping extravaganza reach $ 74 billion, making it the world’s largest sales event.

“The pandemic has taught us that we need to accelerate the digitization process … to sell Positano sandals, Sicilian ceramics and grappa from Friuli everywhere,” said Rodrigo Cipriani Foresio, general manager of Alibaba group’s southern Europe. ($ 1 = 0.8404 euros) (Reported by Angelo Amante, edited by Gavin Jones and Emelia Sithole-Matarise)


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