Pirelli, the renowned Italian tyre manufacturer, has announced an optimistic outlook for its financial performance this year. In a statement released on Thursday, the company revealed that it anticipates its adjusted earnings before interest and tax (EBIT) margin to reach the upper limit of its previously forecasted range.

Pirelli targets high-end forecast for full-year EBIT margin

Italian tyremaker giant Pirelli has moved to block a Chinese state-owned company from taking control of the legacy brand. On Sunday, Pirelli issued a statement to its investors wherein it said the Italian government had ruled that only Camfin - a company controlled by Pirelli boss Marco Tronchetti Provera - could nominate candidates to be its chief executive.

Italian government's intervention blocks Chinese control of tyre giant Pirelli

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Pirelli targets high-end forecast for full-year EBIT margin

Italian government's intervention blocks Chinese control of tyre giant Pirelli