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  • MILAN, Feb 24- Italian conglomerate Finmeccanica has agreed to sell its rail assets to Japan's Hitachi in a potential 1.9 billion euro deal that will cut its debt by 15 percent and help it to refocus on aerospace and defence. Hitachi, meanwhile, will gain a stronger foothold in Europe to compete with bigger rivals such as Germany's Siemens and France's Alstom,...

  • LONDON/ MILAN, Feb 23- Hitachi Ltd has agreed to buy Italian conglomerate Finmeccanica's rail and signal assets, sources close to the matter said, a deal expected to top $2 billion and give the Japanese firm a stronger foothold in Europe to compete with bigger rivals. For Hitachi, which relocated its rail division to London last year, the main focus of the deal is rail...

  • 33-foot sinkhole in Naples, Italy  Monday, 23 Feb 2015 | 2:48 PM ET

    A water pipe burst and days of heavy rain have caused a 33-foot diameter sinkhole in suburban Naples, Italy.

  • ROME— Italy and Switzerland have signed an accord ending Swiss banking secrecy. Italy hopes the arrangement will help it fight tax evasion. Premier Matteo Renzi says the accord means "billions of euros" will return to Italy in tax revenues.

  • Europe's market closes: Ball in Greece's court  Monday, 23 Feb 2015 | 11:24 AM ET

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including the drop in HSBC shares on growing fines, and the road ahead for Greece.

  • Private equity fund managers, gathering in Berlin on Monday for their largest annual conference, will weigh the potential threat of deep pocketed buyers from developing economies in Asia and the Middle East. This group, which includes China's property and entertainment giant Dalian Wanda Group Co and sovereign wealth funds from Singapore, Qatar, Kuwait and...

  • Private equity fund managers, gathering in Berlin on Monday for their largest annual conference, will weigh the potential threat of deep pocketed buyers from developing economies in Asia and the Middle East. This group, which includes China's property and entertainment giant Dalian Wanda Group Co and sovereign wealth funds from Singapore, Qatar, Kuwait and...

  • *Athens forced to climb down and accept strict oversight. BRUSSELS, Feb 20- Euro zone finance ministers agreed in principle on Friday to extend Greece's financial rescue by four months, averting a potential cash crunch in March that could have forced the country out of the currency area. The deal, to be ratified once Greece's creditors are satisfied with a list of...

  • BRUSSELS, Feb 20- Italy's data privacy watchdog said Google Inc had agreed to it conducting inspections at its Californian headquarters, the first time a European Union regulator will make checks on the company inside U.S. territory. Google has been under investigation by several EU data protection authorities since it consolidated some 70 existing privacy...

  • BRUSSELS, Feb 20- Euro zone finance ministers reached an agreement on Friday to extend heavily indebted Greece's financial rescue by four months, officials on both sides said. An agreement removes the immediate risk of Greece running out of money next month and possibly being forced out of the single currency area. European Union paymaster Germany, Greece's...

  • Fear grows in Europe as ISIS comes to Libya Friday, 20 Feb 2015 | 2:09 PM ET
    Members of the Libyan Police are seen on their vehicles as they prepare for deployment during the start of a security plan put forth by the government to increase security, Feb. 9, 2015, in Tripoli.

    ISIS operations in Libya are making headlines and inciting pronouncements from European officials, but the size of its reach is unclear.

  • MILAN/ LONDON, Feb 20- Telecom Italia posted a further fall in sales and profits on Friday but said the pace of decline was slowing as it steps up spending on faster fixed and mobile networks in Italy and Brazil. Outlining its new investment plan, the heavily indebted company said it would spend 14.5 billion euros in the next three years on laying more fibre optic...

  • *Der Spiegel says ECB making contingency plans for Grexit. BRUSSELS, Feb 20- Euro zone finance ministers drafted an outline agreement on Friday that could form the basis for extending Greece's financial rescue package, officials on both sides said. European Union paymaster Germany, Greece's biggest creditor, had demanded "significant improvements" in reform...

  • MILAN— Italian apparel company Benetton says it plans to offer financial compensation for the 2013 garment factory collapse in Bangladesh that killed 1,127 people, the worst tragedy to strike the global garment industry. Benetton said in a statement Friday that it will contribute to a fund established in early 2014 for victims. Unions campaigning on behalf...

  • CNBC's Simon Hobbs reports on all the market moving events in Europe today, including Greeks confronting finance ministers from the eurozone. German PM Angela Merkel says she wants "significant improvement" from the Greeks.

  • NEW YORK— Spice seller McCormick& Co. is adding some Italian flavor to its lineup by paying up to $97 million for the more than century-old Drogheria& Alimentari. McCormick, whose headquarters are in Sparks, Maryland, said the deal will help it further expand into Europe. Drogheria& Alimentari has annual sales of about $57 million, McCormick said, with about 80...

  • PARIS, Feb 20- Spending by Russian tourists abroad has plunged, diving 51 percent in January after falling 44 percent in December because of the rouble's freefall, according to figures released by tax-refund company Global Blue. Last week, Jean-Francois Palus, No.2 at Gucci owner Kering, said the group's Italian tailor Brioni had witnessed a significant drop in...

  • European markets close: Big Greek offer  Thursday, 19 Feb 2015 | 11:37 AM ET

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a big Greek offer and the response from Berlin.

  • UPDATE 1-OECD raises Italy 2015 GDP forecast to 0.6 pct Thursday, 19 Feb 2015 | 8:12 AM ET

    *Warns market sentiment could turn on Italy. Italy has not posted a single quarter of growth since the middle of 2011.. The 114- page report on Italy's economy contained a 2015 growth forecast of 0.4 percent, but the OECD's head Angel Gurria told reporters at a presentation that the most recent developments had prompted an upward revision.

  • DIARY-Emerging Markets Economic Events to March 4 Wednesday, 18 Feb 2015 | 7:02 PM ET

    ROME- OECD Secretary General Angel Gurria will present the Economic Survey of Italy at a news conference with Economy Minister and Finance Minister Pier Carlo Padoan. SINGAPORE- Singapore Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam will deliver the 2015 Budget statement in the Parliament- 0500 GMT. JERUSALEM- Bank of Israel announces...