MILAN/ROME, Oct 10 (Reuters) – The Italian government is
racing to save Alitalia from bankruptcy after unions warned the
national airline risked defaulting within days and creditor ENI
threatened to stop supplying fuel.
Alitalia, struggling to keep up payments on one billion
euros of debt, postponed til Friday afternoon a board meeting
scheduled for 1500 GMT on Thursday. An Alitalia spokeswoman
declined to say why, but the delay gives Prime Minister Enrico
Letta’s government, itself cash-strapped, longer to try to
persuade another Italian company to stump up interim funding.
MILAN/PARIS (Reuters) – Franco-Dutch carrier Air France-KLM (AIRF.PA: Quote, Profile, Research, Stock Buzz) said on Tuesday it was open to merging with Alitalia in a move seen as the best solution for turning round the loss-making Italian airline.
But both sides said any tie-up would depend on certain conditions being met first, as time runs out for indebted Alitalia.
MILAN, Oct 1 (Reuters) – Soybeans on the Chicago Board of
Trade slid to a six-week low on Tuesday, while corn dropped to
its lowest in three years, stung by a U.S. report showing
higher-than-expected stocks as harvest of near-record crops
Wheat also edged lower on pressure from corn and soybeans,
although losses were limited as strong demand tightens supplies.
MILAN (Reuters) – One in eight people around the world is chronically undernourished, the United Nations’ food agencies said on Tuesday, warning world leaders that some regions would fail in halving the number of hungry by 2015.
In their latest report on food insecurity, the U.N. agencies estimated that 842 million people were suffering chronic hunger in 2011-13, or 12 percent of the world’s population, down 17 percent from 1990-92.
MILAN, Sept 30 (Reuters) – Autogrill’s food and beverages
unit is expected to start trading around 5.3 euros per share
from Oct. 1 after splitting off its duty free unit, which in
turn is seen making its debut near 7.0 euros, a Reuters survey
of six analysts showed on Monday.
Italy’s Autogrill is spinning off its smaller but
growing travel retail and duty-free unit from its food business,
hoping the move will allow it to sound out market opportunities
and pave the way for possible tie-ups at either company.
MILAN, Sept 30 (Reuters) – Investors shunned Italian
government bonds and shares on Monday after Silvio Berlusconi
pulled the rug from under Prime Minister Enrico Letta’s frail
coalition government by ordering five centre-right ministers to
Berlusconi’s decision, which comes as the media tycoon is
facing eviction from parliament after a tax fraud conviction,
has left the euro zone’s third-largest economy without a
MILAN (Reuters) – Five years after Alitalia was rescued from bankruptcy, the options for the troubled Italian airline appear to be few: convince top shareholder Air France-KLM (AIRF.PA: Quote, Profile, Research, Stock Buzz) to support its new strategy or shut up shop.
Since being taken private by a consortium of Italian investors in early 2009, Alitalia has accumulated net losses of more than 840 million euros ($1.1 billion), debt of about 1 billion euros and is fast running out of cash.
MILAN, Sept 24 (Reuters) – Soybeans on the Chicago Board of
Trade (CBOT) rose more than 1 percent on Tuesday after the USDA
reiterated a strong crop rating and on doubts over the size of
planted acreage, while strong demand from China boosted wheat.
The U.S. Department of Agriculture (USDA) on Monday rated 50
percent of the soybean crop in good to excellent condition as of
Sunday, unchanged from the previous week.
LONDON/MILAN, Sept 19 (Reuters) – Italy’s Ilva, Europe’s
largest steel plant, is planning to restart a furnace to boost
production from late October, unaffected by a court-ordered
freeze on assets of its owner, the Riva family, industry sources
The southern Italian plant, at the centre of a lengthy
environmental scandal, will restart a blast furnace with a
capacity of about 2 million tonnes per year, which will allow it
to increase annual production to around 7.5 million tonnes, two
sources with knowledge of the situation said.
MILAN, Sept 17 (Reuters) – Chicago corn rose more than 1.7
percent on Tuesday, recovering from last session’s one-month
low, following a dip in expectations for crop conditions and
after a U.S. acreage report showed a smaller planted area.
Soybeans rose on bargain hunting by end-users after
suffering losses in the last two days on pressure from forecasts
for rain in parts of the U.S. crop belt, while wheat was flat.