CashNews.co BRUSSELS (Reuters) – The European Commission said on Tuesday it had given a positive, preliminary assessment to Italy’s latest request for aid payments from the European Union, seen as key to boosting the sluggish performance of the euro zone’s third largest economy. “Today, the Commission has endorsed a positive preliminary assessment of Italy’s sixth […]
CashNews.co Everest, a Bermuda-based underwriting company, has forayed into the Italian insurance market, expanding its European operations. The company received regulatory approval to operate in Italy under the name Everest Insurance (Ireland) DAC, Succursale Italiana. The latest move to enter Italy comes after its recent expansions into Australia, Colombia and Mexico. Headquartered in Milan, the […]
CashNews.co Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Italy’s UniCredit has launched a €10.1bn takeover bid for domestic rival Banco BPM, turning to its home market for consolidation after a hostile reception in Germany to its overtures for Commerzbank. UniCredit on Monday […]
CashNews.co Published : 14 hours agoon 25/11/2024 By Andrea Mandala and Valentina Za MILAN (Reuters) – Italy’s third-largest bank Banco BPM has been on UniCredit CEO and veteran dealmaker Andrea Orcel’s wish list since he took up his current role in 2021. After aborting previous bids, Orcel on Monday launched an unsolicited 10 billion euro […]
CashNews.co Italian makers of Parmesan cheese, olive oil and other delicacies are racing to ship their wares to the US before president-elect Donald Trump can make good on his threat to impose new tariffs on imports. The US imported €4.4bn worth of Italian food, wine and spirits in 2023, but producers in Italy fear American […]
CashNews.co Brussels – The European Investment Bank (EIB) said it would provide one billion euros to finance the reconstruction of public and private buildings in Ischia, severely damaged by the 2017 earthquake and 2022 landslide. The first 150 million tranche was signed today at the Ministry of Economy and Finance. In detail, the EIB loan will go to […]
CashNews.co UniCredit, having already built up a big stake in Germany’s Commerzbank, has offered 10.1 billion euros for its Italian rival BPM (Miguel MEDINA) With its plans for Germany’s Commerzbank seemingly stalled, UniCredit, Italy’s second-largest lender, launched Monday a bid to buy its rival BPM for 10.1 billion euros ($10.6 billion). But Prime Minister Giorgia […]
CashNews.co Italian banking group UniCredit has initiated an all-share bid for domestic competitor Banco BPM. The move is part of UniCredit’s strategy to consolidate its competitive position and expand its presence within Italy. It will see Banco BPM shareholders receiving 0.175 UniCredit shares for each share held. The offer values each Banco BPM share at […]
CashNews.co Charles Russell Speechlys has established a new office in Milan, Italy. Nicola Saccardo, partner in the private client team in London, will stay on to lead the firm’s Italian office, with overarching responsibilities as Head of the Italian office. Cristiana Felisi, former Of Counsel at Maisto e Associati, will join as a partner and […]
CashNews.co Definition: Smart Finance refers to the application of Internet of Things technologies in the financial industry. It involves the use of connected devices, sensors, and data analytics to transform traditional financial processes and create new business models. IoT applications in financial sector include ATMs, insurance telematics, smart payment systems and asset tracking. Additional information: […]