ROME/MILAN (Reuters) – Italian Prime Minister Mario Monti’s imminent resignation has set off campaigning for an election expected in February, with financial markets on edge at the prospect of a return to an old-style Italian political crisis.
On Saturday the 69-year-old former European commissioner unexpectedly struck back against Silvio Berlusconi’s People of Freedom (PDL) party which opened the crisis by withdrawing support from his government last week.
MILAN, Dec 5 (Reuters) – Telecom Italia appears to
be edging towards a spin-off of its fixed-line network in a move
that could raise up to 5 billion euros ($6.5 billion) to cut
debt, boost broadband investment and potentially revive its
The Italian group is expected to make a decision at a
crucial board meeting on Thursday, which is also likely to
reject an alternative fundraising plan from Egyptian tycoon
Naguib Sawiris and debate a move for Vivendi’s GVT
business in Brazil, as well as offers for its own broadcast arm.
MILAN, Nov 14 (Reuters) – The Bank of Italy will discuss how
the deteriorating economic situation is affecting banks’ credit
quality at its annual meeting with major Italian banks next
week, a source close to the central bank said on Wednesday.
The meeting, to take place on Monday, will be attended by
lenders Intesa Sanpaolo, UniCredit, Banca
Monte dei Paschi di Siena, Ubi Banca, Banco
Popolare and Mediobanca.
MILAN, Nov 9 (Reuters) – Italy’s No.1 insurer Generali
is to say in January how it plans to boost
profitability and bolster its financial base after completing a
strategic review under the leadership of new boss Mario Greco.
Third-quarter results published on Friday showed the insurer
was rebuilding its financial base and net profit had surged as
Generali avoided a repeat of heavy writedowns on Greek bonds and
other financial assets that had weakened it a year earlier.
MILAN (Reuters) – Italy’s No.1 insurer Generali (GASI.MI: Quote, Profile, Research, Stock Buzz) is to unveil in January how it plans to boost profitability and bolster its financial base after completing a strategic review under the leadership of new boss Mario Greco.
Third-quarter results published on Friday showed the insurer was rebuilding its financial base and net profit had surged as Generali avoided a repeat of the heavy writedowns on Greek bonds and other financial assets that had weakened it a year earlier.
MILAN, Nov 9 (Reuters) – Insurer Generali said it
would unveil details of a new strategic plan in two months to
improve its profitability and bolster its capital position after
reporting 2012 operating profits would surpass 4 billion euros.
New Chief Executive Officer Mario Greco told analysts on
Friday he would present the plan in London, on Jan. 14.
MILAN (Reuters) – Generali’s (GASI.MI: Quote, Profile, Research) new Chief Executive Mario Greco may have to grapple with an unwelcome multi-billion-euro payment over its eastern European venture PPF Generali if its Czech partner fails to strike a deal with creditor banks.
Italy’s No.1 insurer is seen posting improved third-quarter results at 0630 GMT on Friday, the first since Greco took office on August 1.
Absence of large impairments on its financial and equity portfolio coupled with lower costs and big trading gains allowed the bank to report a near doubling of first-quarter net profit on Saturday, earnings the bank would like to see stabilize.
MILAN, Oct 27 (Reuters) – First-quarter net profit at
Italy’s leading investment bank Mediobanca doubled
from a year earlier on the back of healthy trading gains and a
sharp reduction in labour and administrative costs.
The bank, which starts its financial year on July 1, on
Saturday reported a better-than-expected net profit of 109
million euros ($140.95 million) and did not book any writedowns
after months of heavy impairments on its financial holdings.
MILAN, Oct 26 (Reuters) – Italy’s biggest retail bank has
turned its historic headquarters in Milan’s central La Scala
square into a majestic modern art museum displaying Italian
post-war works from the likes of Lucio Fontana and Renato
Palazzo Beltrami, a superb Milanese building which blends
Neoclassical style with eclectic features, was built in 1911 as
a prestigious new head office for Banca Commerciale Italiana,
now part of domestic bank giant IntesaSanpaolo.