BusinessPick

Private equity’s falling out of love with plastic packaging

A decade ago, private equity couldn’t get enough of plastic packaging. They snapped up companies making bags, films and trays to contain everything from food and fashion to drink to drugs, drawn by reliable cash flows and consolidation prospects. But now the sector’s not quite so in vogue. Many buyout… Cyprus Mail …


Alitalia to restart with 45 planes, €1bn in aid, and new name

A revamped Alitalia, renamed ITA will start with 45 planes, have around 4,500 workers and get just over €1 billion ($1.2 billion) in state support, less than half of what was previously envisaged, newspaper La Repubblica reported on Tuesday. Newly-appointed Prime Minister Mario Draghi met with the transport, economy, industry… Cyprus Mail …




Turkish banks downgraded by Fitch to negative

  Fitch Ratings downgraded 20 Turkish banks to ratings below investment grade on Wednesday, citing the depletion of the central bank’s reserves as a contributing factor, and recognising the “deterioration of the Turkish economy.” Fitch downgraded the long-term outlook in foreign and domestic currency of two Turkish state-owned banks to… Cyprus Mail …