CNBC's Simon Hobbs reports on all the market moving events in Europe on Thursday, including speculation the ECB will not embark on quantitative easing.» Read More
Renzi under pressure to act after Italy fell into recession. ROME, Aug 8- Italy has pushed through a package of support measures for the economy that offers some help to businesses, but pressure is rising on Prime Minister Matteo Renzi to take more significant steps to pull the country out of recession.
WASHINGTON/ ARBIL, Iraq, Aug 7- President Barack Obama said on Thursday he had authorized limited U.S. airstrikes to blunt the onslaught of Islamic militants in northern Iraq and began military airdrops of humanitarian supplies to besieged religious minorities to prevent a "potential act of genocide."
WASHINGTON, Aug 7- John Norris, a commissioner with the U.S. Federal Energy Regulatory Commission, said on Thursday he will resign almost three years before his term expires to take up a post with the U.S. Department of Agriculture.
*NY Times says Obama weighing airstrikes, White House cautious. *France, Pope urge international action to stop Islamists.
ARBIL, Iraq, Aug 7- Islamist militants surged across northern Iraq towards the capital of the Kurdish region on Thursday, sending tens of thousands of Christians fleeing for their lives, in an offensive that has alarmed the Baghdad government and world powers.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, after ECB President Mario Draghi's press conference.
ARBIL, Iraq, Aug 7- Islamic State militants extended their gains in northern Iraq on Thursday, seizing more towns and strengthening a foothold near the Kurdish region in an offensive that has alarmed the Baghdad government and regional powers.
The problem is particularly acute in Italy, where the economy shrank again in the second quarter and where Prime Minister Matteo Renzi has led calls for greater flexibility in European budget rules to allow it to spend more.
Marco Gubitosi, partner at Legance Avvocati Associati, says Italy's economy looks good in the long term but the government must continue with reform.
NEW YORK/ LONDON Aug 7- Investors fretting about the possibility of a big reversal in global stock markets may just want to borrow a slogan from the British- and just keep calm and carry on.
*Western bank still expects robust Russia profits. MOSCOW, Aug 6- Russia will ban all imports of U.S. food products as well as fruit and vegetables from the European Union after President Vladimir Putin ordered retaliation for Western sanctions against Moscow, a state news agency reported on Wednesday.
*Seeks to create Dutch-registered Fiat Chrysler Automobiles. MILAN/ DETROIT Aug 6- Fiat Chief Executive Sergio Marchionne on Wednesday blamed overblown press reports and a "lack of understanding" of the merger with its U.S. unit Chrysler for a share sell-off that threatens to blow the planned tie-up off course.
*Western bank still expects robust Russia profits. ESPOO, Finland/ MOSCOW, Aug 6- Finland warned on Wednesday that Russian retaliation against EU sanctions could push its economy into crisis, while President Vladimir Putin ordered curbs on food imports from countries that join the Western action over Ukraine.
MILAN/ DETROIT, Aug 6- Fiat Chrysler chief Sergio Marchionne on Wednesday blamed overblown press reports and a "lack of understanding" of the merger with Chrysler for a share sell-off that threatens to prevent the tie-up's completion.
*Economy unexpectedly contracts 0.2 percent in Q2. ROME, Aug 6- Italy slid into recession for the third time since 2008 in the second quarter, underlining the chronic weakness of the euro zone's No.3 economy and pressuring Prime Minister Matteo Renzi to complete promised reforms.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a bounce for the German DAX from correction territory and a recession in Italy.
DETROIT, Aug 6- Amid concerns that Fiat shareholders will prevent a merger of the Italian automaker with Chrysler Group, the American automaker reported that second-quarter profit was up 22 percent to $619 million.
ROME, Aug 6- Italian designer label Tod's is edging away from its comfortable driving shoes, ballerina flats and platform sandals in an attempt to diversify its business and revive flagging sales.
MILAN, Aug 6- Shares in Fiat fell more than 8.5 percent on Wednesday to their lowest level this year, with traders citing concerns that investors who voted against the Italian carmaker's merger with Chrysler would exercise their right to sell the stock, potentially jeopardising the tie-up.
Piers Curran, head of trading at Amplify Trading, says Italy and France are the euro zone's biggest concerns and that markets shouldn't expect the ECB to act until October.