Chief Financial Correspondent, Italy, Milan
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May 29, 2013

Italy steel manufacturers look abroad to cope with ILVA crisis

MILAN, May 29 (Reuters) – Italian manufacturers have started
to turn to foreign makers of flat steel, fearing supply
disruptions at crisis-hit ILVA, their usual provider now mired
in an environmental and corruption inquiry.

The giant ILVA plant in the southern town of Taranto, which
makes 40 percent of Italy’s steel, is at the centre of a
judicial probe over its toxic emissions.

May 29, 2013
May 24, 2013
May 21, 2013
May 16, 2013
May 16, 2013

Insight: Mid-sized Italian banks face big bang for want of bucks

GENOA, Italy (Reuters) – A deepening recession and banking stress tests could find Italy’s mid-sized lenders short of billions of euros, putting the state on the hook for a new wave of cash calls and triggering an overhaul of how they do business.

Even ahead of the European stress tests, expected to take place when or shortly before the European Central Bank (ECB) takes over direct supervision of euro zone banks next year, Italy’s smaller banks are under pressure to boost their balance sheets after a Bank of Italy audit of problematic loans and to meet stricter Basel 3 capital rules. Bad loans in Italy have been climbing at an annual rate of 20 percent in recent months.

May 16, 2013

Mid-sized Italian banks face big bang for want of bucks

GENOA, Italy, May 16 (Reuters) – A deepening recession and
banking stress tests could find Italy’s mid-sized lenders short
of billions of euros, putting the state on the hook for a new
wave of cash calls and triggering an overhaul of how they do
business.

Even ahead of the European stress tests, expected to take
place when or shortly before the European Central Bank (ECB)
takes over direct supervision of euro zone banks next year,
Italy’s smaller banks are under pressure to boost their balance
sheets after a Bank of Italy audit of problematic loans and to
meet stricter Basel 3 capital rules. Bad loans in Italy have
been climbing at an annual rate of 20 percent in recent months.

May 15, 2013
May 15, 2013

Italy’s Monte Paschi shows recovery signs after scandal

MILAN (Reuters) – Banca Monte dei Paschi di Siena (BMPS.MI: Quote, Profile, Research, Stock Buzz) pared losses, improved asset quality and stemmed outflows in the first quarter, the first signs of the Italian bank’s recovery from a high-profile derivatives scandal.

Italy’s third-largest bank by assets reported a net loss of 100 million euros ($130 million) on Wednesday, less than analysts were expecting and a substantial reduction on the 1.6 billion euro loss in the last quarter of 2012.

May 15, 2013

Italy’s Monte Paschi sees first signs of turnaround

MILAN, May 15 (Reuters) – Banca Monte dei Paschi di Siena
contained its net loss to 100 million euros ($129.8
million) in the first quarter as it improved asset quality and
kept its direct funding broadly steady.

The results lifted the bank’s shares as analysts had
expected Monte dei Paschi to report a net loss of 156 million
euros, traders said referring to a consensus circulating on the
market.

    • 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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