CashNews.co (Reuters) – The European Central Bank should evaluate any deal between Italian lender UniCredit and Germany’s Commerzbank purely based on the solidity of the resulting bank rather than national interests, ECB policymaker and Governor of the Bank of Italy Fabio Panetta said on Wednesday. UniCredit is pressing for a tie-up with Commerzbank that has […]
CashNews.co Telecom Italia said Italy’s finance police had carried out searches on Wednesday morning in the office of one of its managers as part of an investigation into alleged corruption between individuals. The group added it was working with investigators and to determine whether the company had been damaged as a result of the alleged […]
CashNews.co (Bloomberg) — France and Italy will fail to bring their budget deficits down to the European Union’s 3%-of-output ceiling even by 2029, according to projections from the International Monetary Fund. Most Read from Bloomberg Gross debt in both countries will keep rising every year on that horizon as a result, Washington-based officials predicted in […]
CashNews.co ROME (Reuters) – Italian banks will temporarily face higher taxes on profits as the government intends to force lenders to spread tax deductions stemming from past losses for up to four years, Rome’s 2025 budget showed on Wednesday. The move is expected to result in a contribution from banks to Italy’s strained state finances […]
CashNews.co FLORENCE, Italy (Reuters) – The head of Italian banking association ABI said on Wednesday banks would have to compete harder to secure medium- and long-term funds as the European Central Bank keeps reducing its bond buying, draining cash away from the financial system. Italy sits on the world’s third-largest public debt and the ECB’s […]
CashNews.co LONDON (Reuters) – Italian insurer Generali will no longer provide new cover for companies involved in oil and gas transportation, processing and distribution if they fail to have a good enough energy transition plan, a statement on its website said. Generali said it will no longer provide policies for risks associated with the so-called […]
CashNews.co ROME (Reuters) – Italy’s public debt as a proportion of output last year was slightly higher than previously estimated, national statistics bureau ISTAT reported on Tuesday. The level of public debt in 2023 was slightly increased to 134.8% of gross domestic product (GDP) from the 134.6% estimated last month, when ISTAT revised the debt-to-GDP […]
CashNews.co YEARS | Updated: Oct 20, 2024 18:43 IS Islamabad [Pakistan]October 20 (ANI): Pakistani tourists looking to visit Italy must meet strict financial requirements when applying for a visa. Italy, known for its cultural richness and iconic tourist attractions, mandates that applicants show proof of sufficient funds to cover their stay, or risk having their […]
CashNews.co ROME (AP) — Workers in Italy’s troubled automotive sector are holding a national strike on Friday for the first time in 20 years, with a massive demonstration crossing the center of Rome. Tens of thousands automotive workers marched through the capital’s streets, waving the unions’ red flags and holding banners asking for better work […]
CashNews.co At a hearing last week, the Bank of Italy, while broadly favorable, suggested the government’s plan was too vague and optimistic. The question remains whether Italy can keep it up: Seven years is a long time, and future governments may think differently. “Certainly I remain concerned about the underlying growth story,” said Balboni, noting […]