Monte dei Paschi di Siena said on Wednesday the European Central Bank had approved its proposed acquisition of rival Mediobanca, including under a scenario in which it gains a stake of less than 50% in the rival, Reuters reported. The ECB approval paves the way for Monte dei Paschi (MPS) to formally launch the offer next month, inviting Mediobanca shareholders to tender their shares.
The recent bankruptcy of Marelli, a supplier of automotive components, has sent shockwaves through the global automotive industry, MSN.com reported. This event marks one of the first major corporate failures triggered by the new tariffs imposed by Donald Trump's administration. Marelli's collapse directly impacts Stellantis and its renowned brands, including Jeep, Chrysler and Dodge. Marelli, known for its expertise in vehicle lighting and electronic components, had been grappling with financial difficulties for years.
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A civil court in Turin, Italy, has ruled admissible a class action suit against Stellantis concerning potentially faulty airbags made by Japanese automotive parts company Takata, Stellantis and two consumer groups behind the legal action said on Monday, Reuters reported. Affected vehicle owners have 150 days to join the class action, the two consumer groups Codacons and Altroconsumo said in two separate statements. They added that a court hearing on the case had been adjourned to November 21. Similar legal actions against Stellantis have already been launched in France.
The municipality of Costa Serina, located in the heart of the Bergamo Orobie, is facing an unprecedented financial crisis, Notizie.it reported. With less than a thousand inhabitants, the municipality has invested huge sums in the renovation of a school, using funds from the National Recovery and Resilience Plan (Pnrr). However, the situation became more complicated when the Treasury paid out only 1,5 million euros out of the 5 million foreseen by the tender. This delay in payments brought the municipal finances to their knees, forcing the municipality to face the risk of financial ruin.