Italy

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Sorgenia Adviser To Meet Creditor Banks On Thursday

The adviser of troubled Italian energy group Sorgenia will meet creditor banks on Thursday with a final deal over debt restructuring in sight, a source close to the matter said, Reuters reported. "The deal is within reach, there will be a meeting to ...

Daily Headline - global.abi.org - 04/16/2014 - 23:07 - 0 comments

Banca Monte dei Paschi di Siena Considers Raising Up to €5 Billion

The management of troubled Italian lender Banca Monte dei Paschi di Siena SpA is considering raising up to €5 billion in a share sale, instead of the €3 billion previously planned, people familiar with the matter said Monday, The Wall Street Journal ...

Daily Headline - global.abi.org - 04/14/2014 - 21:18 - 0 comments

Renzi Cuts Italy Growth Forecast With Call for Rich to Give More

Italian Prime Minister Matteo Renzi cut the government’s forecast for economic growth and renewed his promise to slash benefits for top civil servants, saying the working poor are shouldering too much of the pain, Bloomberg News reported. Gross domestic product will expand 0.8 percent this year, Renzi ...

Daily Headline - global.abi.org - 04/08/2014 - 22:34 - 0 comments

Italian Banks Won't Need Aid After Stress Tests – Association

Italy's banks will not require any state funds as a result of the European Central Bank's stress tests this year on euro zone banks, the head of Italy's banking association ABI has told a German newspaper, Reuters reported. The ECB is putt ...

Daily Headline - global.abi.org - 03/30/2014 - 21:32 - 0 comments

Bertone Enters Bankruptcy Proceedings

Famed Italian automotive styling house Bertone has confirmed it has entered court bankruptcy proceedings after mounting debts forced it to send staff home. “The problem is many debts and very high costs. At the moment everything is blocked,” a spokespers ...

Daily Headline - global.abi.org - 03/19/2014 - 23:20 - 0 comments

Italy's Renzi Takes Aim at Economy With Tax Cut Plan

Italian Prime Minister Matteo Renzi unveiled plans to make €10 billion ($13.9 billion) in cuts to payroll taxes and a further €2.4 billion in business-tax cuts, his first effort to deliver on promises to overhaul Italy's sclerotic economy, The Wal ...

Daily Headline - global.abi.org - 03/12/2014 - 21:43 - 0 comments

EU Sees 'Excessive' Imbalances in Italian Economy

European Union authorities on Wednesday said Italy's economic woes require strict monitoring and "strong policy action," putting more pressure on Rome to cut its government budget deficit amid record unemployment, The Wall Street Journal ...

Daily Headline - global.abi.org - 03/05/2014 - 23:18 - 0 comments

Seat Pagine Gialle Shareholders Back Restructuring Plan

reserved for creditors that will see current investors diluted to just 0.25 percent of capital. Royal Bank ...

Daily Headline - global.abi.org - 03/04/2014 - 23:05 - 0 comments

Government Approves Financial Support for Rome

Italy's new government approved a new decree Friday aimed at staving off a default by the city of Rome while insisting that the capital must still seek ways to curb its perennial deficit, The Wall Street Journal reported. The new decree, which m ...

Daily Headline - global.abi.org - 03/02/2014 - 19:18 - 0 comments

Idle Workers Sweep Italy Streets as Alessi Shuns Layoff Fund

When Michele Alessi saw orders drop at his namesake kitchenware designer he paid his staff to sweep streets and prune trees rather than have them stay home tapping a state-backed layoff fund, Bloomberg News reported. Alessi, 63, whose company makes humor ...

Daily Headline - global.abi.org - 01/29/2014 - 00:28 - 0 comments

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