Silvia's Feed
Oct 18, 2012

Italian banks may not escape real estate trouble

MILAN, Oct 18 (Reuters) – Italian banks have not suffered
from a property collapse like the one crippling their Spanish
peers but they are still at risk of large writedowns from the
declining real estate market.

Italy’s property prices have fallen 16 percent since 2008 in
real terms and 44 percent of bank loans are tied to the sector.

Oct 18, 2012

Moody’s cuts Italy’s Monte Paschi to junk

MILAN, Oct 18 (Reuters) – Moody’s cut the rating of Italy’s
third largest lender, Banca Monte dei Paschi di Siena,
to junk and said it may need more state aid, triggering a 6
percent selloff in the bank’s shares on Thursday.

Monte Paschi, the world’s oldest surviving bank, was the
only Italian lender to fail the European Banking Authority’s
stress tests and is the first of the five systemically important
Italian banks to fall below investment grade.

Oct 9, 2012

Italian bank MPS cleared for 1 bln euro share issue

SIENA, Italy, Oct 9 (Reuters) – Banca Monte dei Paschi di
Siena (MPS), Italy’s No.3 lender, won shareholder
approval for a 1 billion euro ($1.3 billion) share issue that
would help it to fix a balance sheet ravaged by the euro zone
debt crisis.

The world’s oldest bank, which also plans to close 400
branches and cut 4,600 jobs, is allowed to launch the cash call
through the next three years, giving it the firepower to pay
back state loans it was forced to request in June.

Oct 8, 2012

Monte Paschi seeks nod for 1 bln euro capital hike

MILAN, Oct 9 (Reuters) – Banca Monte dei Paschi di Siena
, Italy’s No.3 lender, was set to win approval for a
capital increase of up to 1 billion euros ($1.3 billion) on
Tuesday, part of a restructuring plan laid out in June.

The world’s oldest bank, which plans to close 400 branches
and cut 4,600 job cuts, will also seek changes to its
governance.

Oct 8, 2012

Italian banks cut lending to business further

MILAN, Oct 8 (Reuters) – Italian banks are parking their
money in domestic government bonds rather than lending it to
businesses, central bank data showed on Monday, signalling a
worsening credit crunch in the euro zone’s third largest
economy.

Lending to non-financial companies fell by 1.9 percent in
August from a year earlier, the fourth consecutive monthly
decline and the worst fall since the data turned negative in
May.

Oct 1, 2012

Output not stockpiles key to cap food cost-EU aid chief

MILAN (Reuters) – Building strategic agricultural stocks to curb market volatility, as proposed by France, would not be the most effective way to tame food prices, EU Development Commissioner Andris Piebalgs said on Monday.

He said what was needed instead was an increase in food production in the world’s poorest countries, which remain vulnerable to the threat of a new food crisis despite the recent easing in grain prices from record highs hit this summer.

Sep 17, 2012

Italian editor defends topless Kate Middleton photos

MILAN (Reuters) – The editor of an Italian gossip magazine that ran pictures of Prince William’s wife sunbathing topless defended his decision on Monday, saying they were harmless and that the terrace where she was relaxing was visible from a street.

In an interview with Reuters, Alfonso Signorini, editor of Chi, also accused the British media of double standards for not publishing the photographs.

Sep 17, 2012

Italian editor defends topless Kate photos

MILAN (Reuters) – The editor of an Italian gossip magazine that ran pictures of Prince William’s wife sunbathing topless defended his decision on Monday, saying they were harmless and that the terrace where she was relaxing was visible from a street.

In an interview with Reuters, Alfonso Signorini, editor of Chi, also accused the British media of double standards for not publishing the photographs.

Sep 17, 2012

Interview: Italian editor defends topless Kate photos

MILAN (Reuters) – The editor of an Italian gossip magazine that ran pictures of Prince William’s wife sunbathing topless defended his decision on Monday, saying they were harmless and that the terrace where she was relaxing was visible from a street.

In an interview with Reuters, Alfonso Signorini, editor of Chi, also accused the British media of double standards for not publishing the photographs.

Sep 17, 2012

Smaller euro banks fear ECB scrutiny

FRANKFURT/MILAN, Sept 17 (Reuters) – Savings bank Sparkasse
Bad Sachsa, run by 46 staff in a small spa town at the foot of
the picturesque Harz mountain range in western Germany, will
next year come under the supervision of Europe’s central bank
and it is worried.

It will be one of the smallest of 6,000 banks policed by the
European Central Bank (ECB) under ground-breaking European Union
plans for a banking union unveiled last week.