Italy

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Alitalia Workers Vote on Cuts to Stave Off Bankruptcy

Alitalia employees are voting on whether to accept a government-brokered deal to save Italy's flagship airline from bankruptcy, the International New York Times reported on an Associated Press story. Some 12,500 Alitalia workers began voting Thu ...

Daily Headline - global.abi.org - 04/20/2017 - 21:41 - 0 comments

Forget France, Italy Could Be Markets’ Big Risk

Investors’ next political test is the French election, but many are zeroing in on a different European risk for global markets: Italy. French bonds and shares sold off this week as investors focused again on the country’s presidential election, a two-rou ...

Daily Headline - global.abi.org - 04/12/2017 - 21:48 - 0 comments

Most Bad Loans in Italian Banks Do Not Require Quick Sale

Most bad loans held by Italian banks do not need to be sold immediately, the governor of the Bank of Italy said on Tuesday, in a bid to quell pressure on banks saddled with soured credit. In absolute terms, Italy is the EU country with the highest level ...

Daily Headline - global.abi.org - 04/11/2017 - 22:20 - 0 comments

Italy: Reform of the Bankruptcy Law" by Giorgio Cherubini and Giovanna Canale

The bill drafted by the Rordorf Commission, for the reform of the Italian insolvency system, has been recently approved by the Council of Ministers. With such an approval, the Government has been delegated to issue one or more legislative decrees for the ...

Resource Article - twallace@abiwor... - 04/03/2017 - 15:55 - 0 comments - 1 attachment

The Life and Times of an Italian Non-Performing Loan

ABI, the Italian banks’ association, reckons that 80% of the growth of NPLs can be attributed to the civil-justice system (by far the biggest single factor), sluggish economic growth (the next biggest) and taxation, The Economist reported. On average ...

Daily Headline - global.abi.org - 03/30/2017 - 22:11 - 0 comments

Bailout Candidate Pop Vicenza Posts Big Loss, Bleeds Deposits

Italy's Banca Popolare di Vicenza posted a 1.9 billion euro (1.60 billion pounds) loss for 2016 and said it was bleeding deposits, raising doubts over whether regulators will deem the regional bank viable and approve its request for state aid. Popol ...

Daily Headline - global.abi.org - 03/28/2017 - 21:46 - 0 comments

Italy is Falling Out of Love with Europe

A quarter of a century ago, Italy was in a sea of troubles that invites a comparison with today’s storms, the Financial Times reported. The party political system was disintegrating. A gigantic corruption scandal pervaded the highest levels of public ...

Daily Headline - global.abi.org - 03/22/2017 - 08:41 - 0 comments

Italy Scraps Employment Voucher System to Avoid Referendum Showdown

Italy has abolished voucher payments for workers, which were highly popular with employers, to avoid a bruising referendum championed by the country's main union, Prime Minister Paolo Gentiloni said on Friday. Payment by vouchers was introduced in 2 ...

Daily Headline - global.abi.org - 03/19/2017 - 22:48 - 0 comments

Alitalia’s Turnaround Strategy Is a Flop

Less than three years after Etihad Airways saved Alitalia SpA from bankruptcy, the Italian airline is once again on the brink, The Wall Street Journal reported. After spending €400 million ($427 million) to buy effective control of Alitalia in 2014, ...

Daily Headline - global.abi.org - 03/12/2017 - 20:26 - 0 comments

Bidding Race to Win Europe’s Biggest Steel Plant Heats Up

The fate of Europe’s biggest steel plant will edge closer towards resolution when a deadline falls on Monday for final bids to take control of the troubled facility in southern Italy, the Financial Times reported. The giant Taranto works, which has b ...

Daily Headline - global.abi.org - 03/05/2017 - 22:47 - 0 comments

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