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  • BRUSSELS, Oct 26- Outside the European Commission's hulking headquarters, a poster on a street lamp proclaims "Titanic: final weeks". It is advertising an exhibition in Brussels on the cruise liner sunk by an iceberg off Newfoundland a century ago. But as Jose Manuel Barroso spends his last few days at the helm of the European Union's often maligned executive arm,...

  • France to trim 2015 budget deficit further Monday, 27 Oct 2014 | 11:32 AM ET

    PARIS, Oct 27- The French government plans to cut its budget deficit by an additional 3.6- 3.7 billion euros next year, Finance Minister Michel Sapin said on Monday, adding that this should allow Paris to respect EU-deficit rules. Together the cost-savings and extra measures should allow France to reduce its structural deficit, which excludes the impact of...

  • BUSINESS-NEWS-SCHEDULE AT 1330 GMT /9.30 AM ET Monday, 27 Oct 2014 | 10:08 AM ET

    MILAN- Italy's Monte dei Paschi di Siena is likely to try to plug a capital shortfall uncovered by Europe- wide stress tests through asset sales and possibly another cash call, but longer term a takeover could be inevitable. LONDON- Europe's banking healthcheck showed countries and lenders are implementing global capital rules at vastly different speeds, and...

  • Italian banks hit hard by European test results Monday, 27 Oct 2014 | 7:31 AM ET

    FRANKFURT, Germany— Europe's far-reaching review of bank shares set off sharp drops in the shares of Italian lenders on Monday after several of them failed the year-long exercise's test of financial strength. Though most of the banks that failed the review were in Europe's economically weaker countries, the results also raised questions about several banks...

  • Carlo Alberto Carnevale-Maffe, professor of strategic management at SDA Bocconi University, says Italian banks were held to a higher standard than other banks in the ECB's stress tests.

  • *Monte Paschi hires UBS, Citi to review options, including merger. MILAN/ ROME, Oct 26-- Italy's Monte dei Paschi di Siena faces a 2.1 billion euro funding shortfall that could force it to seek a merger, after a European banking review revealed serious weak points in the Italian financial system. The historic Tuscan lender, which was founded in 1472 and carried out a 5-...

  • MILAN, Oct 26-- Italy's Monte dei Paschi di Siena is the bank with the biggest capital shortfall among euro zone lenders after a health check aimed at testing the resilience of the bloc's banking sector. The Tuscan-based bank, Italy's third-largest and the world's oldest, still needs to raise 2.1 billion euros even after tapping the market for five billion euros...

  • Rome protesters target plans to make firing easier Saturday, 25 Oct 2014 | 11:26 AM ET

    ROME— Hundreds of thousands of people marched in Rome Saturday to protest against Premier Matteo Renzi's drive to make it easier to fire workers. Demonstrators cheered as CGIL labor confederation head Susanna Camusso promised more protests and strikes unless Renzi abandons efforts to give employers considerably more leeway to fire workers.

  • DIARY - Top economic Events to Nov 6 Friday, 24 Oct 2014 | 8:01 PM ET

    FRANKFURT- Deutsche Bundesbank Board Member Andreas Dombret to give press conference at the Bundesbank in Frankfurt- 1200 GMT. FRANKFURT- ECB Vice-president Vitor Constancio and Supervisory Board Chair Daniele Nouy to hold a press conference on the results of the Comprehensive Assessment- 1030 GMT. LONDON- Bank of England Deputy Governor Minouche Shafik...

  • *Italy, France want more spending room despite EU budget rules. With a recovery coming to a halt in the second quarter and depressed prices reflecting near record unemployment, France and Italy want to shift away from the spending cuts that marked the bloc's response to the 2009-2012 crisis. France and Italy are pushing for more spending room in their budgets in...

  • European markets close: ECB health check     Friday, 24 Oct 2014 | 11:30 AM ET

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including details on the number of euro zone banks that have failed the ECB's stress test.

  • *Italy, France want more spending room despite EU budget rules. BRUSSELS, Oct 24- France and Italy renewed their commitment to reform their economies on Friday in the hope of winning more time to bring their public finances in order but the ECB's president warned more needed to be done to avoid "a relapse into recession". After the bloc's revival came to a halt in the...

  • *Italy, France want more spending room despite EU budget rules. BRUSSELS, Oct 24- France and Italy renewed their commitment to reform their economies on Friday in the hope of winning more time to bring their public finances in order but the ECB's president warned more needed to be done to avoid "a relapse into recession." After the bloc's revival came to a halt in the...

  • UPDATE 1-Stagnating euro zone seeks German shift Friday, 24 Oct 2014 | 8:18 AM ET

    *Italy, France want more spending room despite EU budget rules. BRUSSELS, Oct 24- France and Italy sought on Friday to bridge stark differences with Germany over how to avert economic stagnation and deflation, but Chancellor Angela Merkel warned her peers against repeating the euro zone's debt crisis. After the bloc's revival came to a halt in the second quarter,...

  • Italian court acquits Dolce&Gabbana in tax case Friday, 24 Oct 2014 | 7:11 AM ET

    MILAN— Italy's highest court acquitted Domenico Dolce and Stefano Gabbana of tax evasion Friday in a case that created such public acrimony that the designers closed their Milan stores in protest for several days last year. The Court of Cassation in Rome overturned two lower court convictions, ruling that the designers committed no crime.

  • Shakira to release baby toys with Fisher-Price Friday, 24 Oct 2014 | 7:03 AM ET

    NEW YORK— Shakira is partnering with Fisher-Price to launch a line of baby toys as well as a Web series for moms. The Mattel, Inc.- owned company announced Friday that the First Steps collection of toys and baby gear would be available in November. All of the proceeds will benefit her Barefoot Foundation, which provides education and nutrition to children in...

  • BRUSSELS, Oct 24- Euro zone leaders sought on Friday to bridge stark differences over how to avoid economic stagnation and deflation in the bloc, with Germany facing fresh calls to soften its budget rigor and spend more. After the euro zone's revival came to a halt in the second quarter, France and Italy want to shift course away from the spending cuts that marked...

  • Germany is looking increasingly isolated on its prescription for an economic revival with its focus on balancing the books and avoiding new debt, while France, Italy, the United States and the IMF want to see Berlin agree to more public spending. "What we have heard from Germany is that their potential growth is currently 1.5, or something like that.

  • DIARY - Top economic Events to Nov 5 Thursday, 23 Oct 2014 | 8:01 PM ET

    MILAN, Italy- ECB Executive Board member Peter Praet speaks at the International Banking Conference "Structural changes in the banking sector" organized by Bocconi University- 0820 GMT. FRANKFURT- Deutsche Bundesbank Board Member Andreas Dombret to give press conference at the Bundesbank in Frankfurt- 1200 GMT. LONDON- Bank of England Deputy Governor...

  • *Italy's Renzi says tax cuts will still go ahead. BRUSSELS, Oct 23- Germany and France both called for economic growth to be at the heart of the euro zone's budget strategy on Thursday but German Chancellor Angela Merkel warned against returning to the pre-crisis days of high spending to try to revive the economy. With the euro zone flirting with stagnation and...