Italy

Banca Monte dei Paschi di Siena SpA, the Italian lender facing a government probe into money-losing structured deals, had its credit rating cut by Standard & Poor’s on concern the investigation may lead to bigger losses. The losses “may be higher tha ...

Daily Headline - global.abi.org - 01/31/2013 - 22:20 - 0 comments

The secret document at the heart of the Monte dei Paschi banking scandal lay for months in a concealed safe in a 14th century Tuscan palace, Reuters reported. Chief Executive Fabrizio Viola said he learnt about the safe's contents only last October, ...

Daily Headline - global.abi.org - 01/30/2013 - 22:37 - 0 comments

Seat Pagine Gialle's bonds slumped by a third in the debt markets on Tuesday after the Italian phone directory firm suspended an interest payment just five months after a drawn-out debt restructuring, Reuters reported. Seat PG said its 2011-2013 bus ...

Daily Headline - global.abi.org - 01/29/2013 - 22:19 - 0 comments

Monte dei Paschi di Siena said on Sunday it was seeking a financial investor as the political storm over a derivatives scandal at the ailing bank intensified ahead of next month's Italian election, Reuters reported. Italy's third-biggest lender ...

Daily Headline - global.abi.org - 01/28/2013 - 00:01 - 0 comments

Mario Monti, Italy’s prime minister, was forced to offer to recall parliament on Thursday amid questions about his government’s handling of the financial crisis at Monte dei Paschi di Siena and the role of the central bank, the Financial Times report ...

Daily Headline - global.abi.org - 01/24/2013 - 23:10 - 0 comments

An Italian court has declared porcelain maker Richard Ginori 1735 bankrupt, union and company sources said on Monday, potentially thwarting a takeover by a U.S.-led consortium. The sources told Reuters that a Florence court had submitted its decision on ...

Daily Headline - global.abi.org - 01/07/2013 - 22:02 - 0 comments

Italian auto maker Fiat SpA formally asked to buy a second tranche of shares in Chrysler Group LLC held by a United Auto Workers' health-care trust that is the U.S. automaker's second-largest holder after Fiat, the Wall Street Journal repor ...

Daily Headline - abi_admin - 01/04/2013 - 10:15 - 0 comments

Troubled steelmaker Lucchini, Italy's second-largest producer, has requested to be placed under receivership procedures to save it from bankruptcy, Reuters reported on Saturday. The measure, which involve the appointment of an administrator chosen b ...

Daily Headline - abi_admin - 12/27/2012 - 13:20 - 0 comments

institute Istat said yesterday. Italy’s economy shrank 0.2 percent in the three months through September, ...

Daily Headline - abi_admin - 12/27/2012 - 13:35 - 0 comments

Former prime minister Silvio Berlusconi said on Tuesday Italy would be forced to leave the euro zone unless the European Central Bank gets more powers to ensure lower borrowing costs, Reuters reported. Berlusconi, who announced this month he will again l ...

Daily Headline - global.abi.org - 12/19/2012 - 23:17 - 0 comments