Silvia's Feed
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.

Sep 13, 2012

ECB pledge pushes Italy yields down at auction

MILAN, Sept 13 (Reuters) – Italian three-year borrowing
costs fell to their lowest in almost two years at an auction on
Thursday, adding to signs the euro zone’s debt crisis has been
tempered by bold action by the European Central Bank.

The Treasury also paid lower yields to sell its first 15
year bond in more than a year, indicating longer-term borrowing
was also benefitting from the ECB’s plan for buying bonds issued
by the governments struggling most with high debt.

Sep 12, 2012

Italy one-year yields back in safe territory at auction

MILAN (Reuters) – Italy’s one-year borrowing costs dropped to their lowest since March on Wednesday, a more than one percent drop since a month ago showing how the European Central Bank’s pledge to enter bond markets has made Rome’s debt a safer bet for investors.

A ruling by Germany’s top court backing the euro zone’s new rescue fund – and allowing the ECB to act should it be asked by a government – added to positive market sentiment and drove Italy’s cost of borrowing another few basis points lower in the hour before the auction.