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  • 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...

  • MILAN, Feb 5- European equities were steady on Friday as a rise in the shares of major banks and industrial companies offset a fall in stocks such as defense group Finmeccanica and steelmaker ArcelorMittal. Data on Friday showed that U.S. non-farm payrolls increased by 151,000 jobs last month and the unemployment rate was at 4.9 percent, the lowest since...

  • MILAN— Italian bank Intesa Sanpaolo reported a 73 percent drop in fourth-quarter profits on lower net interest income and a drop in investment returns. Italy's second-largest bank by assets, Intesa Sanpaolo reported Friday fourth-quarter net income of 13 million euros, down from 48 million euros a year earlier. Fees and commission income rose 6 percent to 1.9...

  • *European Commission has proposed further reforms. *European Commission demanding answers from Volkswagen. They came close to securing a rare veto in the European parliament of a policy that had the backing of the EU's member state governments and, more grudgingly, the executive European Commission.

  • *ING up on solid results, reassuring message on oil risk. MILAN, Feb 4- European shares fell on Thursday as weak U.S. data fed concerns that the world's biggest economy may be slowing down, with export-oriented auto stocks leading the decline and Credit Suisse tumbling after reporting a full-year loss. "The dollar is weakening because the market is starting to worry...

  • *Founder Del Vecchio takes helm as executive chairman. But Leonardo Del Vecchio's return to the helm of Italy's Luxottica, owner of Ray Ban and Oakley sunglasses, at the age of 80 and insistence none of his six children should carry the burden of such a big firm beg the question of who might fit the bill. Positions are not being filled, two of the sources said,...

  • *France, Italy, Spain, Portugal at odds with EU commitments. BRUSSELS, Feb 4- Almost half of euro zone countries are facing a clash over EU deficit reduction rules unless they change policies, European Commission forecasts showed, posing a challenge to EU laws that set limits on spending to protect the value of the euro. Governments also argue that they need to spend...

  • The craftsmen of Murano, an island near Venice, didn't have such technology, yet they still turned out museum-worthy pieces known for their artistry and beauty, using techniques that remained exclusive for centuries. Through years of researching Venetian glass collections at American and European museums and comparing the artifacts with more...

  • *Pan-European index down almost 10 pct this year. MILAN/ LONDON, Feb 3- European shares fell sharply on Wednesday as disappointing economic data from the United States further undermined sentiment already hurt by weak earnings updates. "Sentiment has weakened materially and is being undermined by mounting worries over global economic growth spanning from...

  • LONDON/ MILAN, Feb 3- European shares fell on Wednesday as weak earnings from some leading companies weighed on markets, although Syngenta surged after ChemChina agreed a bid for the Swiss seeds and pesticides group. Markets extended losses after a report in the United States said the service sector in the world's largest economy slowed more than expected in...

  • BRUSSELS, Feb 3- European lawmakers on Wednesday backed a compromise deal to reduce car emissions that will still allow vehicles to exceed official pollution limits, defying calls for more radical reform following Volkswagen's emissions-test cheating scandal. The European Commission, the EU executive, had already begun trying to close a known gap between...

  • DIARY-Top Economic Events to Feb 16 Tuesday, 2 Feb 2016 | 7:01 PM ET

    WEDNESDAY, FEBRUARY 3 LONDON- Treasury Select Committee Hearing- The Economic and financial costs and benefits of UK's EU membership with Bank of England's Chief Executive Officer of the Prudential Regulation Authority Andrew Bailey- 1415 GMT. ROME- UK Finance Minister George Osborne and Italian Economy Minister Pier Carlo Padoan take part in a debate...

  • SAN FRANCISCO— Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether CEO Marissa Mayer can save her own job. The long-anticipated purge, announced Tuesday, will jettison about 15 percent of Yahoo's workforce along with an assortment of services that Mayer decided aren't worth the time and...

  • MILAN, Feb 2- Italian oil services group Saipem said on Tuesday it would appeal an Algerian court ruling ordering one of its units to pay a 34,000 euro fine for allegedly inflating prices on contracts to build a gas pipeline. The company, which is jointly controlled by oil major Eni and state lender fund FSI, is also in the midst of a highly-dilutive 3.5 billion euro...

  • DUBAI, Feb 2- Iran has no problem with U.S. companies investing in its economy and creating joint ventures, President Hassan Rouhani said on Tuesday, and he called for foreign investment and diversification away from oil. The president said the lifting of sanctions last month under a nuclear deal with world powers would see foreign investment turn Iran into an...

  • *Shares in New York, Milan fall to record lows. Ferrari's New York- listed shares fell more than 14 percent to their lowest since the maker of red cars with the prancing horse logo was listed on Wall Street last October. On a conference call with analysts, the company said it expects this year's growth to come primarily from the United States and Europe, its two main...

  • ROME, Feb 2- Italy's Meridiana Fly held talks with the country's development minister on Tuesday about the ailing airline's future, its CEO said after the meeting, but did not comment on speculation Qatar Airways could come to the rescue. I can't say more at this stage, "Meridiana Chief Executive Marco Rigotti said when asked about potential talks with Qatar...

  • DETROIT, Feb 2- Fiat Chrysler Automobiles and Nissan Motor Co reported higher U.S. sales for January, indicating a stronger-than-expected start of the year for the auto industry than many observers expected. Fiat Chrysler shares traded in Milan rose from the minutes after its U.S. sales were announced. They were up 1 percent at 6.45 euros on Tuesday afternoon in...