Italy

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Country Reports Spring 2014

Russia : Bankruptcies in the banking sector . At the end of 2013 and the beginning of 2014 a number of Russian banks had their licenses revoked. France : Commercial code or the civil procedure code? The French commercial code gives a ...

Resource Article - abi_admin - 12/11/2014 - 13:30 - 0 comments - 1 attachment

Italy's Lucchini Nears Deal To Sell Core Steel Assets To Algeria's Cevital

Italy's second-largest steelmaker Lucchini will ask the Italian government for permission to sell its Piombino complex to family-owned Algerian conglomerate Cevital, the company said on Tuesday, Reuters reported. Lucchini was previously owned by Rus ...

Daily Headline - global.abi.org - 11/25/2014 - 21:41 - 0 comments

Monte dei Paschi Reports Nearly $1 Billion Loss in Third Quarter

Monte dei Paschi di Siena, Europe’s oldest bank and one of its most troubled, on Wednesday reported a loss of 797 million euros, or $991 million, in the third quarter after it drastically increased the amount of money set aside to cover problem loans, th ...

Daily Headline - global.abi.org - 11/12/2014 - 20:45 - 0 comments

Monte dei Paschi di Siena’s Former Executives Sentenced to 3.5 Years in Prison

Three former managers blamed for the crisis that has befallen the world’s oldest bank, and devastated the community whose economy depended on it, were sentenced on Friday to jail time and banned from public office for five years, the International New ...

Daily Headline - global.abi.org - 11/02/2014 - 18:53 - 0 comments

Italy’s Monte Paschi Discussing Capital Options With Government

Italy’s Treasury has not ruled out extending repayment deadlines on hundreds of millions of euros in state aid to help troubled lender Banca Monte dei Paschi di Siena as it struggles to raise fresh capital, according to sources, the Irish Times repor ...

Daily Headline - global.abi.org - 10/28/2014 - 22:03 - 0 comments

Italy, France Back Off From Budget Clash With Brussels

Italy and France backed away from a clash with the European Commission over their 2015 budgets on Monday by pledging extra measures to cut their deficits, The Wall Street Journal reported. The move comes after the commission, the European Union’s exe ...

Daily Headline - global.abi.org - 10/27/2014 - 21:09 - 0 comments

Italian Banks Are the Weakest Performers in E.C.B. Review

represented only 0.2 percent of Italy’s gross domestic product, and that Italian banks underperformed only in ...

Daily Headline - global.abi.org - 10/26/2014 - 17:39 - 0 comments

UniCredit, Italy’s Biggest Lender, To Dispose Of More Than €5 Billion In Bad Loans

The trickle of toxic debt being sold by Italian banks is turning into a torrent as UniCredit prepares to announce the disposal of more than €5 billion in bad loans to private equity investors, the Irish Times reported. UK group AnaCap Financial Partn ...

Daily Headline - global.abi.org - 10/15/2014 - 21:15 - 0 comments

Italy's Lucchini To Ask India's JSW Steel To Lift Its Offer

Troubled steelmaker Lucchini said on Tuesday it planned to ask India's JSW Steel to raise its offer of less than $100 million for the Italian company's core assets in Piombino on the Tuscan coast, Reuters reported. Lucchini, Italy's second ...

Daily Headline - global.abi.org - 10/14/2014 - 21:05 - 0 comments

Italy to Remain in Recession This Year, Says IMF

completed at the end of August after bilateral consultations with Rome, the IMF forecast a 0.1% drop in ...

Daily Headline - global.abi.org - 09/18/2014 - 20:39 - 0 comments

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