Tag: sources

Aviva in Talks for Piecemeal Sale of Italy Business: Sources | Investing News

By Pamela Barbaglia and Stephen Jewkes

LONDON/MILAN (Reuters) – Aviva

is weighing a piecemeal sale of its Italian business which consists of two joint venture agreements focused on life insurance as well as general insurance policies handled by a network of agents, sources familiar with the matter said.

The British insurer, which is also working on the possible sale of its French operations, holds a distribution agreement with UniCredit which expired this year, meaning no new policies are being sold through this network.

Aviva had also teamed up on a bancassurance partnership with Italian lender UBI Banca

, which is being taken over by Intesa Sanpaolo


Both joint venture platforms are being reviewed as part of Aviva’s plans to sell its Italian operations, the sources said.

The move comes after Aviva hired Morgan Stanley

to launch an auction process for its Italian business as its new boss Amanda Blanc

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Sources: Chicago Cubs planning for reduced capacity at Wrigley Field to start 2021 MLB season

The Chicago Cubs laid off about 25% of their business staff on Thursday because of a loss in revenue and in anticipation of an uncertain 2021, sources familiar with the situation told ESPN.

The move follows a significant round of cuts on the baseball side in August.

Based on advice from medical experts, as well as restrictions because of local ordinances, the Cubs are not expecting full capacity inside Wrigley Field at the beginning of next season.

It’s possible only season-ticket holders will be allowed to attend games. They’ll get first priority as they make up about 50% of overall ticket holders, which is about the same capacity the team is expecting to allow inside the stadium.

The Cubs expect to miss out on about 75% of their revenue in 2020,

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Trump reviews ByteDance’s plan to keep majority stake in TikTok, sources say

NEW YORK, Sept 15 (Reuters) — President Donald Trump and top U.S. officials were to meet at the White House on Tuesday, Sept. 15, afternoon to consider a proposal by China’s ByteDance to keep majority ownership of its popular TikTok video app, people familiar with the matter said.

Trump has ordered ByteDance to divest TikTok amid U.S. concerns that user data could be passed on to China’s Communist Party government. He has threatened to ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply.

Under ByteDance’s proposal, however, the Beijing-based company would keep a majority stake in TikTok’s global business and move its headquarters to the United States, the sources said. Oracle Corp would become ByteDance’s technology partner responsible for the management of TikTok’s data and take a minority stake in TikTok, the sources added.

The ByteDance proposal also calls for the Committee on

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