Giselda's Feed
Apr 11, 2014

Etihad closer to buying almost half of Alitalia after Renzi talks: source

ROME (Reuters) – The prospect of Etihad Airways buying nearly half of Alitalia has significantly increased after a meeting between Etihad’s boss and Italy’s prime minister, and disagreements over job cuts may be overcome, said a source with knowledge of the talks.

Loss-making Alitalia was kept afloat by a government-engineered 500 million euro ($694 million) rescue package last year. But it needs to find a cash-rich partner quickly to revamp its flight network or else risk having to ground its planes.

Mar 21, 2014

Italy’s Renzi brushes off talk of EU mocking over budget

BRUSSELS (Reuters) – Italian Prime Minister Matteo Renzi brushed off suggestions of tensions with the EU on Friday after newspapers accused senior officials of smirking at a news conference when asked if Rome may be granted extra flexibility on its budget targets.

European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy told journalists in Brussels that all countries would have to respect budget commitments.

Mar 21, 2014

Anger in Italy as EU officials ‘laugh at Renzi’

BRUSSELS (Reuters) – Italian media reacted angrily on Friday after senior European officials exchanged apparently ironic smiles at a news conference when asked if Rome may be granted extra flexibility on its budget targets.

European Commission President Jose Manuel Barroso and European Council President Herman Van Rompuy told journalists in Brussels that all countries would have to respect budget commitments.

Mar 12, 2014

Italy pledges to pay overdue debts to private firms

ROME (Reuters) – Italian Prime Minister Matteo Renzi promised on Wednesday to pay down some 68 billion euros ($95 billion) in overdue debts the state owes to private companies by July, pumping liquidity into the ailing economy.

During his first news conference after a cabinet meeting, Renzi said a draft law outlining the repayment of the debts – along with a sweeping package of tax cuts – was a key part of his government’s plans to pull Italy’s economy out of its longest recession since World War Two.

Feb 22, 2014

Italy’s Renzi sworn in as prime minister

ROME (Reuters) – Italian center-left leader Matteo Renzi took office on Saturday as his country’s youngest prime minister, facing pressure to show immediate results after he forced out his predecessor over the slow pace of economic reforms.

The 39-year-old Renzi has named a low-profile list of ministers which included no figures capable of challenging his control of the government. Its success or failure will be seen as his responsibility alone.

Nov 25, 2013

Italy to approve law on bank backstops this year -sources

ROME, Nov 25 (Reuters) – Italy will approve by the end of
the year the legal framework for state aid to banks that are
found short of capital in an upcoming health check by the
European Central Bank but it has not set aside any funds, two
sources close to the matter said.

Euro zone governments must set up national backstops to help
lenders that need to raise fresh capital following the ECB’s
sector review and are not able to do so on the market.

Oct 8, 2013

Alitalia risks bankruptcy without capital increase -source

ROME, Oct 8 (Reuters) – Loss-making Italian airline Alitalia
risks having to file for bankruptcy if no deal on a
proposed capital increase is reached in a couple of weeks, a
government source said on Tuesday.

Alitalia needs about 500 million euros ($680 million) to
keep going and invest in a new turnaround strategy, analysts
have said, after accumulating losses of more than 1 billion
euros and debt of a similar size since being privatised in 2009.

Oct 7, 2013

Italian government to resume talks on saving Alitalia

ROME/PARIS, Oct 7 (Reuters) – Italy’s government will
continue talks with top management at Alitalia on Tuesday to try
to find a way to keep the cash-strapped airline in business
after inconclusive talks on Monday.

Rome is looking for a public entity that could support the
carrier as it readies for a tie-up with a partner, a source
close to the matter said, adding that a merger with rival Air
France-KLM was the most realistic option.

Oct 7, 2013

Italy asks state rail operator for help on Alitalia

ROME, Oct 7 (Reuters) – Italy’s government has asked the
state railway operator Ferrovie dello Stato to consider
investing in loss-making national airline Alitalia, sources
close to the matter said on Monday, as Rome explores
alternatives to a takeover by rival Air France-KLM.

Air France-KLM said last week it was open to raising its 25
percent stake in Alitalia and possibly merging with its Italian
rival. But a deal is being held up by disagreements over
strategy and finances.

Oct 1, 2013

Berlusconi faces revolt over Italy confidence vote

ROME (Reuters) – Senior party figures in Silvio Berlusconi’s fractious center-right movement urged Italian lawmakers on Tuesday to defy the billionaire media tycoon and back Prime Minister Enrico Letta in a confidence motion expected on Wednesday.

Berlusconi’s People of Freedom (PDL) party has come close to breaking apart after he pulled his ministers out of the ruling coalition at the weekend and called for new elections following growing tension over his conviction for tax fraud.