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  • MILAN, Feb 12- A plunge in oil prices and little sign of recovery anytime soon have left Italian oil contractor Saipem ill-prepared to cope with life independent from former parent Eni, even after a 3.5 billion euro fundraising. Saipem said on Thursday shareholders had signed up to 87.8 percent of the offering, worth 3.073 billion euros, leaving the underwriters...

  • MILAN, Feb 11- A plunge in oil prices and little sign of recovery anytime soon have left Italian oil contractor Saipem ill-prepared to cope with life independent from former parent Eni, even after a 3.5 billion euro fundraising. The future looked brighter when state-controlled Eni set in motion plans to cut loose Saipem in July 2014, with oil prices trading at...

  • UPDATE 1-Italy opens tax probe on Google managers-sources Thursday, 11 Feb 2016 | 10:58 AM ET

    MILAN, Feb 11- Prosecutors are investigating five managers at Alphabet Inc's Google as part of a probe into allegations the firm evaded taxes worth 227 million euros in Italy, investigative sources said on Thursday. Meanwhile, tax authorities in some countries, including Italy, are also trying to use existing tax rules to force companies to pay more tax on the...

  • Italy passes bank reforms, but shares drop further Thursday, 11 Feb 2016 | 9:35 AM ET

    Bank shares were broadly down Thursday, as the Milan Stock Exchange's benchmark index fell 5 percent, the worst performer in Europe. Market leaders UniCredit and Intesa SanPaolo shed 8.8 percent and 6.7 percent. That comes after the government late Wednesday approved measures agreed with the European Union to bundle bad loans that have worried investors...

  • Italy opens tax probe on Google managers-sources Thursday, 11 Feb 2016 | 7:36 AM ET

    MILAN, Feb 11- Italian prosecutors are investigating at least three managers at Alphabet Inc's Google as part of a probe into the company's suspected evasion of taxes worth 227 million euros, investigative sources said on Thursday. Meanwhile, tax authorities in some countries, including Italy, are also trying to use existing tax rules to force companies to pay...

  • LONDON, Feb 11- British Gas and EDF Energy, two of Britain's largest household energy suppliers, bowed to pressure from regulators and rivals by cutting domestic gas prices on Thursday. British Gas said it will cut gas prices by 5.1 percent from March 16, followed by EDF Energy which said it would make a 5 percent reduction from March 24. It is the third time British...

  • ROME, Feb 10- A top executive at Amazon.com, Diego Piacentini, is taking a two-year leave of absence to lead Italian Prime Minister Matteo Renzi's digital technology office, the company said on Wednesday. "Come to Italy and we can talk about innovation!" Only some 36 percent of Italian households are covered by so-called next-generation-access networks,...

  • LONDON/ ROME, Feb 10- Europe's top four economies suffered steeper drops in industrial output during December than any analyst had forecast, a grim sign for the global economy as it struggles to sustain momentum. Wednesday's industrial output data for Britain, France and Italy followed news a day earlier of a shock plunge in Germany, setting back expectations...

  • MILAN— Italian lender UniCredit says its earnings dropped in the fourth quarter, on a day its shares were being battered amid broad concerns over the country's banking system. UniCredit reported Tuesday a net profit of 153 million euros, down from 170 million euros a year earlier. UniCredit's stock was down 4.1 percent at 2.88 euros.

  • We have an advantage in potential mergers: BPM CEO Tuesday, 9 Feb 2016 | 2:57 AM ET
    We have an advantage in potential mergers: BPM CEO

    Giuseppe Castagna, CEO of Banca Popolare di Milano, discusses the bank's results and the potential for a merger with other banks.

  • European banks take a beating Monday, 8 Feb 2016 | 11:30 AM ET
    European banks take a beating

    CNBC's Simon Hobbs reports on a broad-based decline in European stocks today, including beaten-down European banks.

  • MILAN/ LONDON, Feb 8- European shares touched a 16- month low on Monday with investors rattled over a slowdown in global economic growth and newly concerned about the region's banking sector. The pan-European FTSEurofirst 300 index was down 3.1 percent at 1,243.21 points by 1521 GMT, its lowest level since October 2014. Shares in Deutsche Bank fell 6.5 percent,...

  • Following the furor around bad loans, the head of one of Italy's biggest banks said now could be the time to buy Italian real estate and Europe's bank stocks.

  • *FTSEurofirst 300 index falls 2.5 percent. LONDON, Feb 8- European equities fell to a 16- month low on Monday, extending the previous week's hefty losses, with cyclical sectors such as banking and automobiles bearing the brunt of a broader sell-off. The FTSEurofirst 300 index of top European shares fell 2.5 percent to 1,250 points by 1252 GMT, its lowest intraday...

  • Should you invest in Italian banks? Monday, 8 Feb 2016 | 1:40 AM ET
    Should you invest in Italian banks?

    Filippo Alloatti, senior credit analyst at Hermes Fund Managers, discusses problems in the Italian banking sector.

  • Op-Ed: Is the ECB running out of bazookas? Sunday, 7 Feb 2016 | 8:35 PM ET

    The latest data showing weak private sector credit flows in the euro area suggest that might well be the case.

  • LONDON/ MILAN, Feb 5- European equities ended lower after a choppy session on Friday, with the sell-off accelerating in late business after U.S. jobs data left investors guessing about the possibility of an interest rate hike this year. "The result is an even more confused picture on the likely pace of rate increases from the Federal Reserve... which is unlikely to be...

  • Italian banks hit by concerns over bad loans Friday, 5 Feb 2016 | 12:31 PM ET

    MILAN— Italian banking shares are getting battered this year as the government tries to bundle and dispose of billions of euros in bad loans while attempting to reform and consolidate the ailing sector. Since the start of the year, Italian banks have lost more than 35 billion euros in market capitalization as investors sold their shares amid concern about some...

  • *Chinese tourists spent up to $1 bln in Moscow in 2015. Shoppers from China accounted for 7 percent of the group's sales in 2015 and while the country's economy is slowing sharply, at least it is still growing unlike Russia's which is shrinking. Chinese visitors have become a more frequent sight in central Moscow, some carrying bright orange shopping bags from...

  • European markets close: VW delays results Friday, 5 Feb 2016 | 11:29 AM ET
    European markets close: VW delays results

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including Italian financials reversing earlier gains, and Volkswagen delaying annual results.