Italy

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Italian Money Laundering Reports Jump To All-Time High

Reports of suspicious bank transactions in Italy jumped 10 per cent to a record high last year as the pervasive problems of organised crime, corruption and tax evasion were exacerbated by a three-year economic slump, the central bank said on Monday, the ...

Daily Headline - global.abi.org - 07/13/2015 - 20:53 - 0 comments

Italy Sells €6.8 Billion In Debt Despite Continuing Greek Crisis

Italian bonds halted a two-day drop and the nation sold €6.8 billion of debt, a sign of investor confidence that fallout from Greece’s financial crisis can be contained, the Irish Times reported. Italy’s sale included €2.9 billion of 10-year bonds an ...

Daily Headline - global.abi.org - 06/30/2015 - 22:21 - 0 comments

Banca Marche Repays 1.8 Billion Euros Loan To Credito Fondiario

Banca Marche, which was put under special administration in 2013, said on Thursday it had repaid 1.8 billion euros ($2.01 billion) it owed to Credito Fondiario, Reuters reported. The unlisted lender said some of its senior bonds and other securities that ...

Daily Headline - global.abi.org - 06/25/2015 - 22:34 - 0 comments

Italy’s Reforms at Risk From Outside Forces

All European eyes will be anxiously turned to Greece in the coming days, but Italian eyes are turned more anxiously than most, The Wall Street Journal reported. Unlike Spain and Portugal, which have been willing to take a hard line on Greece reflecti ...

Daily Headline - global.abi.org - 06/17/2015 - 23:02 - 0 comments

Italian Businessman Steps In As White Knight To Save Borsalino

Italian businessman Philippe Camperio is spearheading efforts to rescue troubled luxury hat maker Borsalino after it lost millions of euros in 2013, the company said on Wednesday, Reuters reported. In March the hat maker, which has helped clothe politici ...

Daily Headline - global.abi.org - 05/06/2015 - 22:35 - 0 comments

Italian Police Detail Fraud in Public Contracts

Italy’s financial police have released sobering statistics about fraud and corruption in Italy’s public sector: Of the €4.6 billion ($5 billion) worth of public contracts checked last year, they found €1.5 billion in fraud and €2.6 billion wasted, The ...

Daily Headline - global.abi.org - 04/08/2015 - 22:38 - 0 comments

Rizzo Bottiglieri-De Carlini Armatori Files Chapter 15

Rizzo Bottiglieri de Carlini Armatori SpA, a marine freight transportation services provider, moved to shield its U.S. assets by filing a bankruptcy petition in Texas after seeking protection from creditors in Italy, Bloomberg News reported. The company ...

Daily Headline - global.abi.org - 04/08/2015 - 22:39 - 0 comments

Soccer-Parma Officially Declared Bankrupt

Stricken Italian Serie A side Parma were officially declared bankrupt on Thursday, a day after their chairman Giampietro Manenti was arrested in a money-laundering probe, Reuters reported. Parma's players have not been paid all season and it took ju ...

Daily Headline - global.abi.org - 03/19/2015 - 22:37 - 0 comments

Soccer-Parma Officially Declared Bankrupt

Stricken Italian Serie A side Parma were officially declared bankrupt on Thursday, a day after their chairman Giampietro Manenti was arrested in a money-laundering probe, Reuters reported. Parma's players have not been paid all season and it took ju ...

Daily Headline - global.abi.org - 03/19/2015 - 22:38 - 0 comments

Europe’s South Tackles Tax Evasion—Again

Italy’s latest effort to address its chronic tax evasion problem is keeping Tancredi Marino very busy. The Milan-based tax lawyer is hiring extra attorneys to handle dozens of requests from Italians looking to use an imminent amnesty to bring back money ...

Daily Headline - global.abi.org - 01/22/2015 - 23:26 - 0 comments

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