Francesca's Feed
Mar 9, 2014

A washing machine factory tests Italy’s industrial future

PORCIA, Italy, March 9 (Reuters) – The boxy white and grey
factory of this rainy northern town makes fewer than half the
washing machines it did when Italy joined the euro. It is one of
the many symbols of Southern Europe’s industrial decline.

Today, however, the Porcia plant is also a testing ground
for the region’s industrial future.

Feb 4, 2014

Electrolux says Italian factory could shut without state aid

ROME, Feb 4 (Reuters) – Electrolux’s biggest
plant in Italy could face closure unless a support plan is
agreed with the government, the head of the Swedish appliance
maker’s Italian business said on Tuesday.

Under pressure from cheaper manufacturing locations in
Eastern Europe, Electrolux is planning steep benefit and wage
cuts for 5,000 out of the 6,200 workers it employs in Italy.

Jan 30, 2014

Italian PM presses Electrolux to keep plants open

ROME, Jan 30 (Reuters) – Prime Minister Enrico Letta pledged
on Thursday to do everything possible to ensure Electrolux
maintained production in Italy following uncertainty
over the future of the Swedish appliance maker’s local plants.

Electrolux AB, facing growing cost pressure from cheaper
locations in eastern Europe, is planning steep cuts to wages and
benefits for its 5,700 workers in Italy and unions fear it may
also close a washing machine plant in Porcia, employing 1,200.

Jan 12, 2014

Insight: Italian home base hampers sofa king Natuzzi

SANTERAMO IN COLLE, Italy (Reuters) – From this hilltop town on the heel of Italy’s boot, Pasquale Natuzzi has built an eponymous furniture company that is one of the country’s most global brands. It sells sofa beds from Dallas to New Delhi and is one of a handful of Italian companies listed on the New York Stock Exchange.

Yet today, Natuzzi’s home base is dragging it down. Best known for its brand Divani & Divani, the company hasn’t made a profit in six years. In the first nine months of 2013, it lost 38.7 million euros, deepening year-on-year losses on a slight dip in sales to 328 million euros.

Jan 12, 2014

Italian home base hampers sofa king Natuzzi

SANTERAMO IN COLLE, Italy, Jan 12 (Reuters) – From this
hilltop town on the heel of Italy’s boot, Pasquale Natuzzi has
built an eponymous furniture company that is one of the
country’s most global brands. It sells sofa beds from Dallas to
New Delhi and is one of a handful of Italian companies listed on
the New York Stock Exchange.

Yet today, Natuzzi’s home base is dragging it down. Best
known for its brand Divani & Divani, the company hasn’t made a
profit in six years. In the first nine months of 2013, it lost
38.7 million euros, deepening year-on-year losses on a slight
dip in sales to 328 million euros.

Oct 24, 2013

Italy rule change could complicate T.Italia takeover

ROME, Oct 24 (Reuters) – Italy will introduce a lower
threshold for obligatory takeover bids, a government official
said on Thursday, a move that could complicate the takeover of
Telecom Italia by Telefonica.

Last month the Spanish phone group reached a deal allowing
it to gradually take over Telco, the investment vehicle for a
consortium of Italian financial companies and Telefonica, which
holds a 22.4 percent controlling stake in its Italian rival.

Oct 18, 2013

Italian protests against Letta government disrupt transport

ROME (Reuters) – Civil servants, hospital staff and transport workers went on strike on Friday in protest against Prime Minister Enrico Letta’s government, causing disruptions in Rome and across the country.

The strikes, organized by the far left Cobas union, are the first in two days of planned protests and could test the unity of Letta’s uneasy left-right coalition just weeks after he survived a confidence vote in parliament.

Sep 28, 2013

Italian PM to call confidence vote as government nears collapse

ROME (Reuters) – Italian Prime Minister Enrico Letta will call a confidence vote in parliament after a showdown with center-right partners in his fragile coalition scuppered a vital package of budget measures on Friday and took his government to the brink of collapse.

Letta flew back from a visit to New York with coalition unity already in tatters after a threat by center-right lawmakers to walk out over former premier Silvio Berlusconi’s battle against a conviction for tax fraud.

Sep 27, 2013

Italian government near collapse after budget talks fail

ROME (Reuters) – Italian Prime Minister Enrico Letta failed to secure backing for a vital package of fiscal measures on Friday as divisions with center-right partners in his fragile coalition took the government to the brink of collapse.

Letta flew back from a visit to New York with coalition unity already in tatters after a threat by center-right lawmakers to walk out over Silvio Berlusconi’s battle against a conviction for tax fraud.

Sep 5, 2013

Berlusconi has video ready for fall of Italian government: ally

MILAN (Reuters) – Silvio Berlusconi has prepared a video message that could announce a decision to bring down Italian Prime Minister Enrico Letta’s coalition government, one of his staunchest supporters said on Thursday.

As talk mounted of an imminent crisis, President Giorgio Napolitano, who appointed Letta in April, warned of the “serious risks” the government’s fall would bring to Italy.