Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
Investor confidence is the biggest problem that Italy is facing, the country's finance minister told Class-CNBC Monday.
The euro zone's third largest economy has struggled to convince investors that it is on a sustainable fiscal path. Since the anti-establishment government came into power last June, concerns have risen about Italy's ability to repay its debts.
This is because the coalition government has increased public spending and Rome is already dealing with the second highest debt pile in the euro area – at about 130 percent of debt- to-GDP.
These concerns have been mirrored into rising yields on Italian government debt – the higher the yield, the riskier the investment is perceived. For instance, the yield on the 10-year Italian paper peaked last May from below 2 percent to about 3 percent in a matter of days, on the back of the possibility that two anti-establishment parties were about to take power. The same yield is now trading at about 2.7 percent – still one of the highest in the euro area.
"I think investor confidence is Italy's biggest problem. But confidence can be restored," Giovanni Tria, Italy's finance minister told CNBC.
"I see a lot of international appreciation for Italy's industrial system and for our economy. We need to boost our own domestic morale even in the shot-term, but I think that our basis is very strong," Tria, who is a technocrat and not a member of any of the coalition parties, said.
Data from the Ifo Institute showed last month that investor sentiment in the 19 member region dropped to its lowest level in more than four years. Out of eight euro zone countries analyzed, Italy registered the weakest level of economic climate.
The numbers point to a tough ride ahead for Italy, especially after Rome fell into recession in the last quarter of 2018.