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  • MILAN, July 28- Italy's third-biggest lender, Monte dei Paschi di Siena, has received a last-minute rescue proposal by Swiss bank UBS, just hours before it is due to unveil its own bailout plan to meet regulators' concerns over its stability. The bank said in a statement on Thursday night it had received two letters from UBS and former Italian Industry Minister...

  • *Wall St rebounds after disappointing Ford Motor results. NEW YORK, July 28- U.S. stocks mostly rose on Thursday in anticipation of results from tech heavyweights Alphabet and Amazon.com, while the yen eased after Reuters reported the Bank of Japan was considering expanding monetary stimulus to address signs of weak inflation. Expectations of further...

  • WASHINGTON— Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m.. WASHINGTON— Commerce Department releases personal income and spending for June, 8:30 a.m.. TOKYO— Honda reports fiscal first quarter results.

  • LONDON/ MILAN, July 28- Italy's Monte dei Paschi di Siena,, which is scrambling to put together a privately backed bailout, suffered a setback on Thursday when three banks turned down a request to back a planned 5 billion euro cash call. The troubled lender is trying to pull together a banking consortium to guarantee its proposed capital increase in the next 24 hours...

  • LONDON, July 28- Morgan Stanley and Italian lenders UniCredit and Intesa SanPaolo have rebuffed a proposal by Italy's third-largest lender, Banca Monte dei Paschi di Siena, to back its proposed 5 billion euro cash call, a source familiar with the matter told Reuters. The troubled lender is trying to pull together a banking consortium to guarantee its proposed...

  • LONDON/ MILAN, July 28 (Reuters)- European shares fell on Thursday with Lloyds leading a weaker financial sector lower and disappointing earning updates from firms including oil major Royal Dutch Shell also weighing. Lloyds fell 5.8 percent after the British bank warned of a likely drop in demand caused by Britain's vote last month to quit the European Union,...

  • NEW YORK, July 28- Global stock markets fell on Thursday in the wake of disappointing U.S. and European corporate results while the dollar took its biggest tumble in almost two months after the U.S. Equity markets retreated after Royal Dutch Shell in Europe reported a more than 70 percent fall in quarterly profit that was well below analysts' estimates.

  • LONDON, July 28- Investors bought over 8 billion euros of new debt from Italy on Thursday, at some of the biggest premiums seen since early 2015, a day before Rome faces a crunch health check of its banks. It was against this backdrop that Italy sold 6.5 billion euros of five- and 10- year government bonds, along with up to 2 billion euros of floating-rate CCTeu...

  • LONDON, July 28- Investors bought over 8 billion euros of new debt from Italy on Thursday, at some of the biggest premiums seen since early 2015, a day before Rome faces a crunch health check of its banks. It was against this backdrop that Italy sold 6.5 billion euros of five- and 10- year government bonds, along with up to 2 billion euros of floating-rate CCTeu...

  • LONDON, July 28- Italian government bond yields edged up on Thursday as investors prepared for an auction of a new 10- year bond a day before European Union stress tests that are expected to highlight problems at some of Italy's banks. Italian benchmark bonds have underperformed their Spanish peripheral peers since Britain's June 23 vote to leave the European...

  • Italy has shaped euro banking industry for years: Axiom

    How bad will the ECB stress tests be for Italian banks? Gildas Surry, senior analyst at Axiom Alternative Investments, discusses which lenders will be in the spotlight.

  • LONDON/ MILAN, July 27 (Reuters)- European shares rose on Wednesday with the market underpinned by well-received earning updates from companies including Peugeot and LVMH, while Deutsche Bank fell after a poor update. German carmakers including Volkswagen rose, helping the auto-heavy German index DAX recover all the losses it made since UK's shock vote to...

  • LONDON/ MILAN, July 27- Italy's third-largest lender, Monte dei Paschi di Siena, has asked at least eight investment banks to guarantee a 5 billion euro cash call as it races to ease regulatory concerns over its stability, a source said. The health of the 544- year-old bank, the world's oldest, poses a threat to the wider Italian banking system, the euro zone's fourth...

  • MILAN— Italian retailer OVS has announced that designer Jean Paul Gaultier will do a capsule collection that will be in stores in November. The collection will feature 60 pieces, including accessories, for both men and women with the label Jean Paul Gaultier for OVS. OVS has previously collaborated with Elio Fiorucci and Costume National, and most recently...

  • Strong earnings boost Europe stocks

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including Taylor Wimpey trading "normal" after Brexit, LVHM boosting USA champagne sales and more.

  • MILAN— An Italian judge has indicted the Eni oil company, former CEO Paolo Scaroni and eight others on a charge of bribing an Algerian official to win an 8 billion euro contract. The court issued the indictment on Wednesday, months after Italy's highest court overturned another preliminary court ruling throwing out the case. Prosecutors allege that Scaroni and...

  • MILAN— Fiat Chrysler Automobiles on Wednesday raised its earnings forecasts after reporting a 25 percent increase in second-quarter profits as SUV and truck sales offset the impact of slumping demand for passenger cars in North America. The carmaker said it was raising its revenue forecast to above 112 billion euros from 110 billion euros, while increasing...

  • MILAN— About a month on from Britain's vote to leave the European Union, there's little evidence that economic activity across the continent has been derailed yet. That's some reassurance for the 19- country eurozone as it faces a host of other problems, many of which relate to Italy, the bloc's third-largest economy. Nixon said "the more immediate challenge" for...

  • Italian banks don’t face systemic crisis, but need work: Pro

    William Hobbs, head of investment strategy UK and Europe at Barclays Wealth and Investment Management, says there’s a lot that needs to be done for Italy’s banks, and recapitalization won’t completely fix that.

  • BRUSSELS, July 26- European Union authorities are making contingency plans for the possible winding down of Banca Monte dei Paschi if the Italian lender has a poor reading in stress tests this week and no private or public support is available, an EU official said. The European Banking Authority, an EU agency, will announce on Friday results of the tests conducted...