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.
MILAN, Sept 10 (Reuters) – Chicago soybeans fell on Tuesday,
extending their losses this week to more than 1.5 percent on
forecasts of modest rainfall in the U.S. Midwest that could give
some reprieve to the stressed crop.
The U.S. soybean crop is in its weather-sensitive,
pod-setting stage of development, and a turn to dry weather in
August and early September has been trimming yield potential,
pushing prices up nearly 20 percent within three weeks.
VICENZA, Italy, Sept 9 (Reuters) – Export-focused Italian
jewellers are seeing sporadic signs of recovery in key foreign
sales, offsetting deep-rooted weak demand at home, industry
officials at a major trade fair said.
The euro zone’s third largest economy is battling with its
longest postwar recession, which has put some small and
family-run jewellers out of business.
VICENZA, Italy (Reuters) – Italian jewelry and watch maker Morellato Group is not for sale and hopes to add other domestic brands to its portfolio, chief executive Massimo Carraro said.
The global financial crisis, which sapped consumer demand for luxury goods and dried up finance, has turned many Italian jewelers into targets or put some out of business altogether.
MILAN, Aug 27 (Reuters) – Corn on the Chicago Board of Trade
edged lower on Tuesday, retreating from its biggest daily gain
in nearly four months in the previous session when it followed
soybeans higher over worries that dry weather in the U.S.
Midwest could hit yields.
Soybeans eased from their highest level in 11 months, while
wheat slipped from a three-week high.