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UPDATE 1-Fashion group Tod put Instagram star Chiara Ferragni on its board | Instant News

* Shares in Tod’s jump more than 5% after the announcement

* The company aims to win over young people to drive growth (Adds details)

ROME, April 9 (Reuters) – Italian fashion group Tod’s said on Friday that it is appointing Instagram star and influencer Chiara Ferragni as a board member, stepping up its efforts to win over the younger buyers driving the sector’s growth.

The luxury leather goods maker shares jumped more than 5% after the announcement of Ferragni, a 33-year-old Italian digital entrepreneur with more than 23 million followers on his Instagram account where he shares fashion and style advice and raises awareness about social issues. .

“We believe that Chiara’s knowledge of the world of youth, combined with the experiences of other board members, can build thinking focused on solidarity with others, with a strong focus on the younger generation, who, now more than ever, need to be heard,” Tod said. .

Tod’s, known for his shoes, launched a new strategy in late 2017 to change his brand and appeal to younger consumers, but the COVID-19 pandemic has hampered his efforts. Sales fell by nearly a third in 2020 due to lockdowns and falls in tourism, marking the fifth consecutive year of annual sales decline.

“Ferragni’s entry into Tod’s board will lead to increased brand visibility, and investors hope this will help in driving group sales in today’s challenging market,” said a Milan-based trader.

Generations Z and Y, born after 1995, will meet about two-thirds of total demand in the luxury goods sector by 2025, up from about 45% in 2019, consultants Bain said in its latest estimate.

“Chiara’s knowledge of the youth world is invaluable,” said Diego Della Valle, Tod’s founder and top shareholder.

Reporting by Claudia Cristoferi; Edited by Giulia Segreti and Pravin Char


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Oscar winner Dustin Lance Black urged Britain to ban LGBT + conversion therapy | Instant News

LONDON, April 7 (Thomson Reuters Foundation) – Oscar-winning screenwriter and filmmaker Dustin Lance Black on Wednesday accused Britain of “neglecting the lives of queer people” by failing to fulfill a three-year promise to ban LGBT + conversion therapy.

The United Nations has called for the practice, which aims to change a person’s sexual orientation or gender identity, to be banned globally.

Brazil, Ecuador, Malta and Germany have adopted forms of national bans, while parts of Australia and Canada are considering restrictions and at least 20 US states ban them for minors.

Black – who has built a remarkable US sailing career from keeping track of LGBT + rights – said his adoptive homeland in Britain knew the risks of treatment but had not acted on it.

“This government ignores the lives of freaks,” the US screenwriter told the Thomson Reuters Foundation in a video call from her home in south London, which was shared with her husband British Olympic diver Tom Daley and their two-year-old son, Robbie Ray.

“There is no urgency from this government to protect LGBTQ people,” said the 46-year-old Oscar winner. “We keep hearing, ‘Soon, soon, soon’. Well, I’m sorry to tell this government that the ‘soon’ came and went years ago now. “

Former Prime Minister Theresa May vowed to ban conversion therapy by 2018.

But Black – who won the original screenplay Oscar for the 2008 film “Milk” about LGBT + activist Harvey Milk – noted that more than 1,000 days have passed.

“I feel fairly confident that if there is a therapy in the UK that targets heterosexual people to change something fundamental about them, and that the main outcomes of this therapy are depression, suicidal thoughts and suicide, then that therapy will be banned in 24 hours. -hours, “he said.

A 2019 survey by the suicide prevention group The Trevor Project found 42% of young LGBT Americans on conversion therapy reported a suicide attempt in the past year.

Nearly 700,000 Americans have undergone conversion therapy, half of whom are under 18, according to the UCLA Williams Institute.

A spokesman said the British government wanted to “stop conversion therapy” and would come up with a proposal soon.

Black, who is behind the hit ABC series “When We Rise” which charts LGBT + rights, says procrastination has had a “measurable” impact on British lesbian, gay, bisexual and transgender people. “The government itself has reviewed this matter and still hasn’t done anything,” he said. “They should care very little about LGBTQ people, our self-esteem, our self-confidence.”

In the 2018 National LGBT Survey, the UK government said nearly 2% of respondents had undergone conversion therapy and another 5% had been offered it. (Reported by Hugo Greenhalgh; Edited by Lyndsay Griffiths. Please pay tribute to the Thomson Reuters Foundation, the Thomson Reuters charity, covering the lives of people around the world who struggle to live free or fair. news.trust.org)


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Australian stocks extended gains as commodity-exposed companies shone | Instant News

April 7 (Reuters) – Australian stocks on Wednesday extended gains for a fourth session, driven by commodity-exposed stocks to strong crude oil and metals prices and as investors bet on improving prospects for a global economic recovery.

The S & P / ASX 200 index rose 0.5% to 6,920.2 points in early trading, hitting a new high since mid-February. Elsewhere in Asia, Nikkei futures were up 0.4%.

On Tuesday, the International Monetary Fund raised its forecast for global economic growth to 6% this year, a level not seen since the 1970s.

Strong economic data from China and the United States lifted oil prices by 1%, while a weaker dollar and lower US Treasury yields boosted bullion.

Meanwhile copper prices rose on supply concerns after a major Chilean producer closed its borders following a spike in coronavirus infections.

Strong commodities lifted sentiment despite the pullback on Wall Street overnight. All three major US stock indexes closed in the red, retreating from previous session record highs, while Treasury yields edged down.

The ASX 300 metals and mining index was up 0.67%, while the gold sub-index was up 1%, led by Resolute Mining Ltd. which was up 4.4%.

Tech shares rose 1.8%, led by EML Payments Ltd, up 10.7%, followed by NEXTDC Ltd which rose 3.6%.

In New Zealand, the benchmark S & P / NZX 50 index was up 0.68% to 12,484.3.

The highest percentage gainer in the benchmark index was Contact Energy Ltd, up 2.8%, followed by Pushpay Holdings Ltd and Air New Zealand Ltd which rose 2.5% and 1.9%, respectively.

Reporting by Shruti Sonal in Bengaluru, Editing by Sherry Jacob-Phillips


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Exclusive: Tencent’s Timi game studio made $ 10 billion in 2020, sources said | Instant News

(Reuters) – Chinese tech giant Tencent’s Timi Studios, maker of the popular video games Honor of Kings and Call of Duty Mobile, generated $ 10 billion in revenue last year, two people with first-hand knowledge of the matter told Reuters.

FILE PHOTOS: The Tencent logo is seen on its booth at the 2020 China International Exhibition for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS / Tingshu Wang /

The $ 10 billion in cash will make Timi the world’s largest developer, said the source, who is suspected by many industry observers.

It also provides a solid foundation for its ambition to go beyond mobile gaming and compete head-to-head with global heavyweights developing expensive “AAA” titles on platforms such as desktop computers, Sony’s PlayStation, Nintendo Switch, and Microsoft’s Xbox.

In a recruitment notice last month, a Timi engineer wrote that the company aims to create a new AAA game that resembles the virtual community from the movie Ready Player One, and will “compete head-to-head against the mighty powers from Japan, Korea, Europe and the US”

Tencent is building studios overseas, including one for Timi and one for Lightspeed and Quantum, both in Los Angeles, with the aim of creating content with original intellectual property that has global appeal.

Tencent ultimately aims to raise half of its gaming revenue from abroad, from 23 percent in the fourth quarter of 2019, the most recent figure available.

Many major studios turn to Tencent for support for converting their “hardcore” desktop or console games to mobile. Such games feature long, storytelling sessions or in-depth battles, with some including multiplayer online role-playing games or online battle arenas.

Last week, Tencent reported 156.1 billion yuan ($ 23.79 billion) in overall online gaming revenue for 2020 but did not break down revenue for individual studios, which run independently and compete with each other.

Timi’s results account for 40% of gaming revenue, the two men said.

Of Tencent’s remaining gaming revenue last year, studios Lightspeed and Quantum, developer of PUBG Mobile, another gross-earning game, accounted for 29%, people said, while 26% was the result of publishing for other developers. Aurora Studios Group, boosted by the Moonlight Blade Mobile title, contributed 3%, said the source.

The source declined to be identified because the information was not public.

Tencent did not immediately reply to a Reuters request for comment.

Tencent, which has benefited from a surge in gamer payments, said last week online gaming revenue rose 29% to 39.1 billion yuan in the fourth quarter.

($ 1 = 6.5619 Chinese yuan renminbi)

Reporting by Pei Li and Tony Munroe. Edited by Gerry Doyle


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UPDATE 1-Just Eat to add 4,000 workers with new contract terms in Italy | Instant News

(Added union leader comments)

ROME, March 30 (Reuters) – Just Eat on Tuesday said it would employ about 4,000 motorists in Italy to comply with an Italian prosecutor’s decision aimed at improving conditions for show economy workers.

A Milan prosecutor in February fined the Italian unit of food ordering company Uber Eats, Just Eat and Deliveroo and Spanish food delivery app Foodinho-Glovo and said they had to employ more than 60,000 workers on contract.

The decision came at the end of an investigation launched in July 2019 after motorists were involved in several road accidents, indicating inadequate and unsafe working conditions.

So far, Just Eat, which is under the parent company Just Eat Takeway.com, has been the only one to comply with prosecutors’ orders to hire workers.

“We welcome Just Eat’s decision and hope other shipping companies will follow suit,” Marco Odone, head of the Uil Trasporti national union, told Reuters.

With the surge in use of application delivery, the rights of people working for “gig economy” service companies are increasingly in focus across Europe.

Companies are facing pressure to improve conditions, turning away from a model in which the majority of workers are self-employed freelancers.

Just Eat will place motorists in Italy on national contracts specially designed for workers in the transport, shipping and logistics industries, which will provide them with paid vacations, sick leave, social security and insurance, as well as trade union representatives.

The minimum wage is € 8.50 ($ 9.96) per hour.

Those under contract will be reimbursed for the distance traveled during work if they use their own bicycle or scooter and are provided with safety equipment such as helmets and riding vests.

The agreement has been signed with Italy’s largest sector union, FILT CGIL, FIT-CISL and UIL Trasporti.

Just Eat Italy Country Manager Daniele Contini said of the agreement that “all players will benefit, starting with the drivers, but including restaurants and operators.”

The company has operated in Italy for 10 years in more than 1,200 cities, with more than 21,000 partner restaurants, he said.

$ 1 = 0.8533 euros Reporting by Giulia Segreti, Additional reporting by Elvira Pollina; Edited by Bernadette Baum and Dan Grebler


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