Chief Financial Correspondent, Italy, Milan
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Nov 7, 2013

Generali asset sales strengthen capital base

MILAN, Nov 7 (Reuters) – Italy’s Generali said on
Thursday a string of asset sales had boosted its capital
position, putting the insurer on track to beat 2012 results and
reach its business targets.

Under Chief Executive Mario Greco, Europe’s biggest life
insurer by premiums is taking steps such as the sale of non-core
assets to make its business more solid and more profitable.

Nov 1, 2013
Oct 31, 2013

Italian banks’ cut plans too modest despite strike call

MILAN, Oct 31 (Reuters) – With Italy mired in its longest
recession since the Second World War, the country’s hard-pressed
banks are cutting jobs, closing branches and infuriating unions,
but the cuts are far too modest to achieve the profitability
gains they need.

So far, lenders including Banca Monte dei Paschi di Siena
, IntesaSanpaolo and UBI Banca have
announced that they will close or merge nearly 3,000 branches
and cull 19,000 jobs by 2015, prompting unions to call on
Thursday the first national bank strike in 13
years.

Oct 28, 2013

Asset sales lift Mediobanca first-quarter profit

MILAN, Oct 28 (Reuters) – Capital gains from the sale of
equity investments helped to lift Mediobanca’s
first-quarter net profit by 57 percent from a year ago,
offsetting a fall in trading income and lower fees at the
Italian investment bank.

Mediobanca posted a net profit of 171 million euros ($236
million) for the three months to Sept. 30, its first quarterly
results since announcing in June that it would move away from
decades of equity investments aimed at gaining influence at top
Italian companies to concentrate on its core banking business.

Oct 22, 2013
Oct 21, 2013
Oct 18, 2013
Oct 17, 2013

Italy’s chocolate king faces succession questions

MILAN, Oct 17 (Reuters) – Michele Ferrero, Italy’s richest
man and the owner of a global chocolate and confectionery
empire, has always resisted the temptation to allow outsiders to
buy into his company.

In a statement on Thursday, his son Giovanni, the Chief
Executive of the Ferrero group, rejected suggestions the Italian
company had been approached by larger Swiss competitor Nestle
and said Ferrero was not for sale.

Oct 7, 2013

Monte Paschi toughens up revival plan to win over Brussels

MILAN/ROME, Oct 7 (Reuters) – Bowing to European Union
requests, loss-making Italian bank Banca Monte dei Paschi di
Siena unveiled thousands of new job cuts on Monday and
asset sale plans in a bid to return to profit and stave off
nationalisation.

Italy’s third-largest lender by assets had received 4.1
billion euros ($5.57 billion) in special state loans earlier
this year after the euro zone crisis and a derivatives scandal
brought it to the brink of collapse.

Oct 7, 2013
    • About Lisa

      "I have been a correspondent for 13 years, reporting on banks, financial regulation and EU politics from London, Brussels, Zurich and Milan. I have also written about a variety of business sectors, general news, the arts and sport. As Chief Financial Correspondent for Italy, I keep a close eye on top Italian business stories, particularly Fiat and banking."
      Joined Reuters:
      1998
      Languages:
      English, Italian, French, German, Dutch, Spanish
      Awards:
      2010 Reuters Star Performer Award
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