Italy

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Italy Bank Cleanup Shifts to $150 Billion in Doubtful Loans

After tackling billions of dollars in bad loans, Italian banks are moving on to a somewhat less risky but possibly trickier category of distressed debt as they seek to clean up their balance sheets, Bloomberg News reported. “Unlikely-to-pay loans are the ...

Daily Headline - global.abi.org - 09/19/2017 - 22:41 - 0 comments

Italian Banks’ Bad Loans Fall Sharply as Economy Rebounds

The stock of bad debts held by Italian banks fell by a record amount in July, in a sign that Italy’s struggling financial sector is starting to benefit from stronger economic growth and greater investor interest, the Financial Times reported. The tot ...

Daily Headline - global.abi.org - 09/13/2017 - 17:36 - 0 comments

Alitalia Workers Plan to Join a Bid for Insolvent Airline

A group of Alitalia employees is preparing to join up with a non-European carrier and two Italian financial partners to bid for the insolvent airline, Italian weekly Panorama reported on Wednesday. Rome is looking for a buyer for all of Alitalia, which i ...

Daily Headline - global.abi.org - 09/06/2017 - 22:47 - 0 comments

Rome's 5-Star Mayor Launches Bid to Save Ailing City Transport Firm

Rome’s mayor on Friday launched an attempt to save the city’s ailing public transport company from bankruptcy, asking creditors to support a restructuring of its 1.3 billion euros ($1.54 billion) of debt, Reuters reported. Virginia Raggi, a prominent fac ...

Daily Headline - global.abi.org - 09/04/2017 - 20:33 - 0 comments

Ryanair to Bid to Operate 90 Alitalia Planes

Ryanair will bid to operate 90 planes under the Alitalia brand and using existing staff as part of the Italian airline’s restructuring, Chief Executive Michael O’Leary said on Thursday. Ryanair has until Oct. 2 to make a binding bid for all or part of th ...

Daily Headline - global.abi.org - 08/31/2017 - 22:23 - 0 comments

Number of Italians In Work Rises to Pre-Financial Crisis Level

domestic product growth forecast to 1.3 per cent in 2017 and 2018, from 0.8 per cent and 1 per cent ...

Daily Headline - global.abi.org - 08/31/2017 - 22:24 - 0 comments

Market Signals Big Paper Loss for Rome After Monte Paschi's Bank Bailout

The Italian government faces a paper loss of more than 30 percent on its 3.85 billion euros ($4.54 billion) rescue of troubled lender Monte dei Paschi di Siena, according to grey-market trading in the bank's new shares. The world's oldest lende ...

Daily Headline - global.abi.org - 08/24/2017 - 20:48 - 0 comments

Why Some Banks Recover and Others Don't

Most experts debating bail-in and bail-out strategies agree that banks should build capital and shrink balance sheets as the best way to avoid a collapse and rebuild after one. But researchers are suggesting a more personalized version of that recipe tha ...

Daily Headline - global.abi.org - 08/10/2017 - 22:21 - 0 comments

Alitalia to Favour Bids for Whole Company

The Italian government is hoping to avoid the break-up of Alitalia by insisting it will give preference to bids for the entire company at the launch of the final stage of its sale out of bankruptcy, the Financial Times reported. On Tuesday, the state ...

Daily Headline - global.abi.org - 08/01/2017 - 22:28 - 0 comments

Italy Sets Price for Its Share of Monte Paschi Capital Raise

Italy took the final steps to revive Banca Monte dei Paschi di Siena SpA, setting the price for its portion of the aid package needed to keep the world’s oldest bank in business. The government will pay 6.49 euros per share as part of the bank’s capital ...

Daily Headline - global.abi.org - 07/30/2017 - 19:23 - 0 comments

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