Poste Italiane Now Runs Telecom Italia, and Deals Could Follow
After a decade under French control, Telecom Italia SpA now has an Italian state-backed group as its top investor — and it's one that wants to foster mergers and acquisitions in the telecoms market.
Postal service Poste Italiane SpA this weekend became the phone company's biggest shareholder with a holding of nearly 25%, after purchasing the majority of a stake held by French media conglomerate Vivendi SE. Poste says the deal will support industry consolidation.
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Newsweek
an hour ago
- Newsweek
Giant Banner of Jeff Bezos' Face Unveiled by Protesters in Venice
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. With only a few days to go before Jeff Bezos' lavish wedding to former television journalist Lauren Sanchez, protests continue in the Italian city that the billionaire has chosen for the ceremony. Activists from the international environmental group Greenpeace and campaign group Everyone Hates Elon unfurled a giant banner on Monday in Venice's St. Mark's Square, calling for Bezos to pay higher taxes. "If you can rent Venice for your wedding, you can pay more tax," the 65x65 inches banner featuring a giant smiling Bezos reads. Why Are Venetians Mad at Jeff Bezos? As soon as Venice's mayor, Luigi Brugnaro, confirmed in March that Bezos wanted to celebrate his nuptials in the city, anger has been boiling among many residents over the Amazon founder taking over their home. The three-day celebration, scheduled for later this week, is expected to have famous guests, including Oprah Winfrey, Mick Jagger and Ivanka Trump. While not many details of the event have been shared with the public for security reasons, the wedding will take over the entire island of San Giorgio, located opposite St. Mark's Square, blocking parts of the city to both locals and tourists. Greenpeace activists deploy a giant banner displaying a picture of Jeff Bezos and reading "If you can rent Venice for your wedding you can pay more tax" at St Mark's Square in Venice, Italy, on... Greenpeace activists deploy a giant banner displaying a picture of Jeff Bezos and reading "If you can rent Venice for your wedding you can pay more tax" at St Mark's Square in Venice, Italy, on June 23, 2025. More STEFANO RELLANDINI/AFP via Getty Images Not only will residents have to plan their routes around the restrictions caused by the wedding, but they will also likely find that most of the city's water taxis have already been booked by Bezos and his guests. Part of the port of Venice, on the other hand, will be occupied by Bezos' super yacht, which will be docked there during the dayslong event. While city and regional authorities who greenlit the wedding said that the event will bring prestige and wealth to the city, residents already struggling with overtourism and the rising costs of housing are skeptical. "Life is getting increasingly difficult in Venice," Marta Sottoriva, an activist with the group 'No Space for Bezos,'" previously told Newsweek. "Of course, part of the city is in favor [of the wedding]. It's the part that has something to gain from it, but we're talking about a small percentage. Luxury hotel owners, taxi drivers, catering agencies," she said. However, many Venetians are tired of these large-scale events, which "block the city" for residents, Sottoriva said. "There's a feeling spreading among citizens, we don't believe that these big events bring money to the city anymore. It's linked to an economy that is becoming increasingly precarious, tied to tourism," she said. 'A Sign He Should Pay More Taxes' Protesters in Venice, who plan to disrupt the wedding by jumping into the canal's waters this weekend, said that their anger is not directed at the wedding itself, but rather at the groom. "Jeff Bezos is not a superstar, not a Hollywood actor, not a sports champion," Sottoriva said, mentioning actor George Clooney's wedding in Venice in 2014, which was well-received by locals. "He's the third-richest man in the world, who's built his wealth by exploiting workers and resources." "He's the same person who stood next to Trump during his inauguration ceremony, together with many other oligarchs he hasn't hesitated to change his company's entire branding to get onboard with this totalitarian turn," she added. "It's a protest against Bezos, he's not welcome in Venice." Activists gather around the giant banner protesting Jeff Bezos ahead of his wedding in Venice, Italy, on June 23, 2025. Activists gather around the giant banner protesting Jeff Bezos ahead of his wedding in Venice, Italy, on June 23, 2025. STEFANO RELLANDINI/AFP via Getty Images The new banner revealed on Monday in St. Mark's Square focuses on Bezos' enormous wealth, which protesters said should be taxed more than it currently is. "As governments talk about hard choices and struggle to fund public services, Jeff Bezos can afford to shut down half a city for days on end just to get married. Just weeks ago, he spent millions on an 11-minute space trip. If there was ever a sign billionaires like Bezos should pay wealth taxes, it's this," a spokesperson from Everyone Hates Elon said in a statement shared with Newsweek. "While ordinary people struggle to pay the bills, there are more billionaires than ever before. These two things are obviously connected—they're getting richer at our expense. It's not rocket science: tax billionaires like Jeff Bezos now." Bezos is the second-richest person in the world, after Elon Musk, but he reportedly pays a 1.1 percent true tax rate, according to ProPublica. His wedding in Venice has been estimated to cost between $15 million and $20 million, according to the Mail Online, while Sanchez's wedding ring alone is worth as much as $5 million. Tourists enjoy a gondola ride in a canal in Venice, Italy, on June 22, 2025. Tourists enjoy a gondola ride in a canal in Venice, Italy, on June 22, 2025. STEFANO RELLANDINI/AFP via Getty Images There is also an environmental factor at play: it is no secret that Venice is sinking, and the city's future is under threat from climate change and human activity. According to Royal Museums Greenwich, the city is currently sinking by 1mm (0.04 inches) a year due to natural processes, while sea level rise is accelerating due to global warming. Venice has recently banned big cruise ships from docking. Bezos' wedding splurge is seen as unnecessary and harmful by protesters. "While Venice is sinking under the weight of the climate crisis, billionaires are partying like there is no tomorrow on their mega yachts," Clara Thompson, a Greenpeace campaigner, said in a statement shared with Newsweek. "This isn't just about one person—it's about changing the rules so no billionaire can dodge responsibility, anywhere. The real issue is a broken system that lets billionaires skip out on taxes while everyone else is left to foot the bill. That's why we need fair, inclusive rules, and they must be written at the UN."
Miami Herald
2 hours ago
- Miami Herald
Lake Worth Beach celebrity restaurant with movie history shuts down
It's been a really tough road for restaurants in recent years. The trouble started back in 2020, when restaurants were forced to shutter to guests during the pandemic. Don't miss the move: Subscribe to TheStreet's free daily newsletter Although those restrictions were temporary, restaurants then faced a series of challenges. First, there were labor shortages, due partly to the generous unemployment benefits stimulus bills had allowed for. Then, it was supply chain interruptions that made it hard to load up on ingredients. Related: Iconic mall food chain makes massive change The most recent challenge has been ongoing, and it's none other than inflation. Inflation has not only driven up costs for restaurants, but forced many consumers to change the way they spend their money. As a result, a lot of people have cut back on in-person dining, driving a decline in sales. A number of big-name restaurant chains have filed for bankruptcy and closed their doors as consumer demand has waned. Similarly, a number of popular standalone restaurants have been forced to close permanently. Lula's - a popular restaurant in the Palm Beach, Florida, area - has officially closed its doors. Its menu featured Italian favorites that included handmade pastas, seafood dishes, steaks, and meatballs. Before it was Lula's, the location in Lake Worth Beach hosted a number of famous restaurants, including Callaro's Steakhouse, which met its demise during the pandemic, and L'Anjou, which had been open to customers in that space for more than 30 years. The name Lula's was created by combining the names of two main streets in Lake Worth Beach - Lucerne and Lake Avenues. Related: Legendary local restaurant closing saddens fans The location even had a moment in the spotlight when it was featured in the 1981 film Body Heat. At the time, it was the L'Anjou name that appeared on the big screen. Given that the location was in the heart of downtown, it's surprising that Lula's didn't last longer than it did. It opened in October of 2024, lasting less than a year. The brains behind Lula's wasn't just any old chef. Rather, it was celebrity chef Todd English. English has appeared on a number of well-known cooking shows. He's also a James Beard winner and has authored several cookbooks. Related: Popular Mexican restaurant closes after 45 years Lula's wasn't English's only foray into Palm Beach County. He also opened his popular Figs restaurant at The Gardens Mall, but it shuttered in 2016 after seven years. Now, the famous space Lula's occupied has a new name on the lease. It's the owners of famous restaurant Ravish, located a few miles south in Lantana. Operating partner Alexandra Dupuis was stingy with details but said there are plans in the works to open a new restaurant called Pomona where Lula's once served customers. The aim is for Pomona to open this summer. Of course, if a Todd English restaurant struggled to stay afloat, it's questionable whether a replacement will thrive. More Fast Food & Restaurant News: Starbucks makes shocking pricing move customers will loveBankrupt restaurant chain offers new deal, stiff drinkNew Taco Bell menu items combines multiple classics The sad reality is that consumers are shying away not just from casual dining, but high-end dining as well. A lot of people are having a hard time justifying the higher cost given general economic uncertainty. That's bad news for consumers who do have the budget for the occasional high-end meal. Losing a favorite restaurant is always a big blow. And unfortunately, Lula's may only be one of many beloved establishments to shutter this year. Related: After closing 600 locations, fast-food chain has many more planned The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
3 hours ago
- Miami Herald
McDonald's surprises fans with cryptic message
If you thought buying tacos at a burger chain or tires at a grocery store was already odd enough, this latest launch is even more unexpected. For many years, restaurant and retail chains have diversified their offerings by expanding their assortment into new markets to turn their businesses into one-stop shops, making it more convenient for consumers to get their necessities in a single spot. Don't miss the move: Subscribe to TheStreet's free daily newsletter Some have succeeded at this diversification strategy, including Walmart's (WMT) wide range of product categories and Jack in the Box's (JACK) tacos. However, others have unfortunately failed, throwing a huge chunk of their yearly investing allowance straight into the trash and getting no profits in return. Related: McDonald's menu adds new happy meal fans will love McDonald's has seen a sales slump over the last few quarters, which led it to invest in developing new menu items. In March, McDonald's introduced the new Restaurant Experience Team and created three new global Category Management teams to drive product innovation. As odd as it may sound, McDonald's (MCD) used to sell pizza at its national restaurants. McDonald's began offering the McPizza in the late 1980s at its U.S. locations. But because the preparation was too tricky and the demand was too low, it was discontinued in the 1990s and removed from the regular menu. Related: McDonald's brings back unexpected breakfast item after 6 years Then in 2023, the fast-food chain launched Pizzerotti, small pizza pockets, at all its Italian locations. However, the demand may not have been as expected, since the food item is no longer available. McDonald's has not given up on adding pizza to its menu, because it's still available at its largest location in Orlando, Florida. And the chain may soon offer pizza in another market. McDonald's recently sent a cryptic message to its fans via an Instagram post containing an image that featured a notebook with the word "Classified" and the date "06-24-2025" printed on top. The caption didn't explain much, either, stating, "I'm not allowed to show u what's inside yet. But if u wanna zoom in and guess, there's literally nothing I can do about it." Upon zooming in on the image, the words "Pizza Bites" and a picture of little pizza pockets that look similar to Italy's discontinued Pizzerotti can be partially seen. More Food News: McDonald's menu adds new collaboration with surprising partnerTaco Bell adds new beverages to hop on viral fast-food trendStarbucks brings back fan-favorite menu item after 2-year hiatus McDonald's has not officially announced that it will launch pizza bites on its menu, but they will likely become available starting June 24. However, there's a catch to this launch. The fast-food giant only made this post on its Canadian Instagram account, which could mean that the menu item will only be available at its Canadian locations. Although the news might disappoint Americans, if the launch is successful in Canada, the pizza bites could launch in the U.S. as well. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
