Agnieszka's Feed
Nov 25, 2013

Chrysler won’t go ahead with IPO in 2013: Fiat

MILAN (Reuters) – The planned stock market listing of Fiat’s (FIA.MI: Quote, Profile, Research, Stock Buzz) U.S. unit Chrysler will not take place this year, the Italian carmaker said on Monday, prolonging the uncertainty over its chances of buying out the rest of the company.

The initial public offer, which Fiat CEO Sergio Marchionne had previously said could take place in 2013, was expected to shed light on the U.S. carmaker’s value and help settle a long-running spat between Fiat and a healthcare trust which owns 41.5 percent of Chrysler.

Nov 13, 2013

Alitalia expected to buy time on capital hike at board meeting

MILAN (Reuters) – Italian airline Alitalia is likely to extend the deadline for subscribing to a capital increase at Wednesday’s board meeting to give major shareholder Air France-KLM (AIRF.PA: Quote, Profile, Research, Stock Buzz) more time to sign up.

Italy’s flagship carrier is wrestling with financial losses and faces a battle with unions as well as being stuck in a months-long tussle with Air France-KLM over whether they want to keep their strategic and financial partnership alive.

Nov 12, 2013

Alitalia job cuts plan unlikely to win Air France rescue

MILAN/PARIS (Reuters) – Cash-strapped Italian airline Alitalia is planning the first mass firing since its 2008 privatisation to cut costs, but a source said it was unlikely to go far enough to persuade top shareholder Air France-KLM to rescue it in a cash call.

Alitalia’s Chief Executive Gabriele del Torchio, a turnaround specialist, is expected to unveil his plan at a board meeting scheduled for 1700 GMT on Wednesday. Several sources said it may include up to 2,000 lay-offs as well as salary cuts to make Alitalia more efficient and profitable.

Nov 12, 2013

Alitalia looks to cut jobs to lure investors

ROME/MILAN, Nov 12 (Reuters) – Cash-strapped Italian airline
Alitalia is planning the first mass firing since it was
privatised in 2008 to shrink costs and lure potential new
partners while top shareholder Air France-KLM refuses
to commit to a firm investment.

At a board meeting scheduled for 1700 GMT on Wednesday,
Chief Executive Gabriele del Torchio, a turnaround specialist,
is expected to unveil an aggressive industrial plan that may
include thousands of lay-offs and salary cuts to make Alitalia
more efficient and profitable.

Nov 11, 2013

Corn up for second session after USDA crop forecast

MILAN, Nov 11 (Reuters) – Chicago corn futures rose more
than 1 percent on Monday to their highest in nearly two weeks
after a lower-than-expected U.S. Department of Agriculture
(USDA) crop forecast for the United States.

Extending gains from the previous session, Chicago Board of
Trade December corn rose 0.76 percent to $4.30-1/4 a
bushel by 1203 GMT, below a session high of $4.32, the highest
level since Oct. 31. Corn closed up 1.5 percent on Friday.

Nov 4, 2013

U.S. corn falls for 4th session on prospects of big harvest

MILAN, Nov 4 (Reuters) – U.S. corn futures fell on Monday,
on course for a fourth straight session of declines and the
longest slide in more than three months, weighed by expectations
a report this week will confirm the United States is headed for
a bumper harvest.

Chicago Board of Trade December corn futures fell 0.06
percent to $4.27 a bushel by 1154 GMT, having slid 0.2 percent
on Friday when the grain hit a three-year low of $4.25-3/4.

Oct 30, 2013

Milan held despite first goal of season for Kaka

MILAN (Reuters) – Brazil playmaker Kaka scored his first goal, a delightful curling shot, since his return to AC Milan at the start of the season but his struggling team were held 1-1 at home by Lazio in Serie A on Wednesday.

Second-placed Napoli won 2-1 at Fiorentina who were furious after midfielder Juan Cuadrado was sent off after twice being booked for diving in the penalty area, with the second incident coming in stoppage time.

Oct 30, 2013

Soccer-Milan held despite first goal of season for Kaka

MILAN, Oct 30 (Reuters) – Brazil playmaker Kaka scored his first goal, a delightful curling shot, since his return to AC Milan at the start of the season but his struggling team were held 1-1 at home by Lazio in Serie A on Wednesday.

Second-placed Napoli won 2-1 at Fiorentina who were furious after midfielder Juan Cuadrado was sent off after twice being booked for diving in the penalty area, with the second incident coming in stoppage time.

Oct 14, 2013

Rival airline attacks Alitalia rescue as illegal

MILAN/PARIS (Reuters) – A leading European airline group denounced Italian plans to rescue Alitalia as illegal on Monday, as shareholders were due to vote on a capital increase to keep the near-bankrupt carrier flying.

International Airlines Group (ICAG.L: Quote, Profile, Research, Stock Buzz), which owns British Airways and Spain’s Iberia, urged the European Commission to intervene over the Italian government’s attempts to stitch together a bailout for Alitalia.

Oct 13, 2013

Air France-KLM’s stand unclear for Alitalia capital increase

MILAN/PARIS (Reuters) – Shareholders of Alitalia will vote on Monday on a 300 million euro ($407 million) capital increase to keep the near-bankrupt Italian airline flying, but the participation of top investor Air France-KLM is far from certain.

The loss-making carrier was thrown a lifeline on Friday when its board members – including Air France-KLM – approved a government-led 500-million-euro bailout. The emergency plan includes the capital increase and loans worth 200 million euros.