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Sep 21, 2011

Moody’s cuts Fiat on Chrysler risk, weak Europe

MILAN, Sept 21 (Reuters) – Moody’s cut Fiat’s
credit rating on Wednesday to reflect its closer ties with U.S.
automaker Chrysler and the increased risk of a loss of market
share in Europe and greater competition in Brazil.

Moody’s, which had put Fiat on review for a possible
downgrade in April, cut its rating one notch to Ba2 from Ba1,
with a negative outlook.

Sep 20, 2011

UniCredit says no cap hike decision yet

MILAN, Sep 20 (Reuters) – UniCredit Chief Executive Federico
Ghizzoni said on Tuesday Italy’s biggest bank by assets was
still considering all options to boost its capital and was open
to any new investor as it seeks to bolster its financial
strength amid market turmoil.

Ghizzoni also said the bank’s liquidity position was “fairly
good” and dismissed reports of internal discontent with his
performance at the helm since taking over from Alessandro
Profumo a year ago.

Sep 13, 2011

Fiat-Chrysler CEO: euro system could derail

FRANKFURT (Reuters) – The euro single-currency system could be derailed unless European leaders resolve the debt crisis, a situation that has already prompted Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz) and its affiliate Chrysler Group LLC to examine the timing of vehicle introductions, Fiat’s CEO said on Tuesday.

“We are reviewing volumes and the timing of new products to see when it is really necessary to launch them,” Fiat and Chrysler Group LLC Chief Executive Sergio Marchionne said on Tuesday. When asked whether the company was primarily looking at launches in Europe, he said: “No, I’m talking globally.”

Sep 13, 2011

Car industry urges bold action over euro debt

FRANKFURT (Reuters) – Car industry executives from around the globe urged Europe’s politicians to take bolder steps to solve the bloc’s two-year-old debt crisis, warning its single currency could be derailed without more decisive action.

The euro was under pressure again on Tuesday with debt markets increasingly pricing in a Greek sovereign debt default and the U.S. government voicing its alarm at Europe’s inability to get a grip on the crisis.

Sep 13, 2011

Car industry urges bold action over euro debt crisis

FRANKFURT, Sept 13 (Reuters) – Car industry executives from
around the globe urged Europe’s politicians to take bolder steps
to solve the bloc’s two-year-old debt crisis, warning its single
currency could be derailed without more decisive action.

The euro was under pressure again on Tuesday with debt
markets increasingly pricing in a Greek sovereign debt default
and the U.S. government voicing its alarm at Europe’s inability
to get a grip on the crisis.

Sep 13, 2011

Fiat-Chrysler CEO: Euro system could go “off the rails”

FRANKFURT (Reuters) – Fiat and Chrysler chief executive Sergio Marchionne said the euro single currency system could be derailed unless European leaders resolved the debt crisis.

Marchionne said markets were showing little confidence in Europe’s ability to draw a line under the crisis, which has spread to his homeland Italy after engulfing Greece, Ireland, Portugal and Spain.

Sep 13, 2011

Euro system could go “off the rails” – Fiat-Chrysler CEO

FRANKFURT (Reuters) – Fiat and Chrysler chief executive Sergio Marchionne said the euro single currency system could be derailed unless European leaders resolved the debt crisis.

Marchionne said markets were showing little confidence in Europe’s ability to draw a line under the crisis, which has spread to his homeland Italy after engulfing Greece, Ireland, Portugal and Spain.

Sep 13, 2011

Fiat CEO warns euro system could go “off the rails”

FRANKFURT, Sept 13 (Reuters) – Fiat CEO Sergio
Marchionne warned that the euro single currency system could “go
off the rails” unless European leaders effectively resolve the
current debt crisis.

Marchionne, who also runs Chrysler, said the markets were
showing little confidence in Europe’s ability to draw a line
under the crisis, which has spread to his homeland Italy after
engulfing Greece, Ireland, Portugal and Spain.

Sep 11, 2011

Highbrow trumps Hollywood at Venice film festival

VENICE, Italy (Reuters) – Highbrow trumped Hollywood at the Venice film festival this year, with Russian director Alexander Sokurov’s demanding German-language “Faust” taking top prize and Roman Polanski and George Clooney overlooked.

Most prizes at Saturday’s closing ceremony went to less-than-familiar names and faces, with the exception of rising Irish star Michael Fassbender’s best actor award for “Shame.”

Sep 11, 2011

Russian film “Faust” takes top prize in Venice

VENICE, Italy (Reuters) – - Russian film “Faust,” loosely based on Goethe’s classic German text, won the Golden Lion for best picture at the Venice film festival on Saturday.

The movie, directed by the revered Alexander Sokurov, divided critics at the annual cinema showcase, but had been among the favorites to scoop the coveted top prize.