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Ten ‘Italian’ firms that aren’t actually Italian

The takeover of tyre maker Pirelli by a Chinese firm ignited some fiery debate over the loss of homegrown businesses this week. But the acquisition of prized Italian assets started years ago. The Local has compiled a list of some of the biggest brands that are foreign-owned.

Published: 27 March 2015 10:40 CET
Ten 'Italian' firms that aren't actually Italian
Baci, the chocolate made by Perugina, kissed goodbye to Italy when it was bought by Nestlé in 1998. Photo: Baci photo: Shutterstock

The sale of any big and well-loved brand to an overseas buyer always sparks passionate debate, with fears that it will be a loss to the country.

But some Italian brands have thrived in foreign hands, enabling them to capture far-flung markets, and yet are still strongly tied to Italy despite their ownership structure.

Since mergers and acquisitions took off in the 1980s, a number of sought-after Italian firms, some on the verge of bankruptcy, have been snapped up.

From fashion to luxury cars, take a look at The Local's list of ten Italian firms that are foreign-owned.

 

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COST OF LIVING

Norway is world’s second-most expensive country this year

Only Switzerland was ranked higher than Norway in a list of the most expensive countries in the world for living costs in 2020.

Published: 4 February 2020 12:11 CET
Norway is world’s second-most expensive country this year
File photo: AFP

The list, compiled by business magazine CEO World, ranks 132 countries in order of living costs based on data from a range of studies and media.

Parameters encompassed by the analysis include accommodation, clothing, taxi fares, utility, internet, the price of groceries, transport, and eating out. The data was used to compile a score for each country within five metrics: cost of living, rent, groceries, eating out and purchasing power.

The metrics were then given a value using New York City as a control: if a country has a score of over 100, it is more expensive than New York.

Three countries did in fact achieve this with their overall score: Switzerland (122.4), Norway (101.43) and Iceland (100.48).

As such, Norway is ranked by the magazine as the second-most expensive country to live in the world this year.

Nordic neighbour Denmark was not far behind in 5th place with an index of 83, with Sweden the cheapest of the three Scandinavian countries in 23rd (69.85).

Japan was the final country in the top 5, in 4th place.

The United Kingdom was placed 27th (67.28), Ireland 13th (75.91), the United States 20th (71.05), Canada 24th (67.62) and Australia 16th (73.54).

Looking at the metrics individually, Norway’s performance was variable.

The Nordic nation was the 12th-most expensive country on the cost of rent index. For groceries, it placed third just behind South Korea and with Switzerland still far ahead as the most expensive.

Norway is also the third-most expensive country to eat at a restaurant – behind Switzerland and Iceland.

For local purchasing power, Norway is lower on the list, in 17th.

READ ALSO: What are the best ways to save money in Norway?

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