MILANO, Oct 14- Shares in Italy's Gedi shot up more than 10% in early trade on Monday after an offer for the publisher of leading daily la Repubblica, which was rejected by its controlling shareholder. Gedi's holding company CIR is controlled by De Benedetti's three sons, to whom the father transferred his stake seven years ago. De Benedetti at the weekend said he...
LONDON, Oct 14- Euro zone bond yields fell on Monday, pulling away from last week's 2 1/ 2- month highs, as a note of caution surrounding both Brexit and U.S./ China trade talks encouraged investors back into fixed income. Britain and the European Union said on Sunday a lot more work would be needed to secure an agreement on Britain's departure from the EU, pushing...
Mario Draghi fought the headwinds of German-imposed fiscal austerity on sinking euro area economies and led the monetary union to economic recovery.
MUMBAI, Oct 13- India might have thought the worst of a bad loans crisis was past, but a severe cash crunch in the real estate industry could augur fresh strife for its banks. With about $10 billion of development loans coming up for repayment in the first half of 2020, according to Fitch Rating's Indian division, the fallout could spread to mainstream banks that...
MELBOURNE, Oct 14- ConocoPhillips has agreed to sell its northern Australian business to its partner Santos Ltd for $1.39 billion, in a deal that will boost the Australian oil and gas group's output by 25%. The deal, which was not unexpected, marks the second major acquisition by Santos in less than a year, following a sharp turnaround in its fortunes under Managing...
LONDON, Oct 13- Europe's climate change credentials face an acid test this week when the bloc's lending arm, the European Investment Bank, decides whether or not to stop funding fossil fuel projects beyond next year. The European Commission plus Germany, Italy, Poland, Latvia and potentially Spain would like the bank to keep funding some types of gas projects to...
MUMBAI, Oct 13- India might have thought the worst of a bad loans crisis was past, but a severe cash crunch in the real estate industry could augur fresh strife for its banks. With about $10 billion of development loans coming up for repayment in the first half of 2020, according to Fitch Rating's Indian division, the fallout could spread to mainstream banks that...
MILAN, Oct 12- French billionaire Vincent Bollore, the second biggest investor in Mediobanca, has thrown his weight behind the Italian bank's chief Alberto Nagel, who has come under attack by new Mediobanca shareholder Leonardo Del Vecchio. Del Vecchio, the 84- year-old founder of eyewear giant Luxottica, has openly criticized Nagel's management choices...
FRANKFURT, Oct 10- The European Central Bank can buy just over one year's worth of German bonds under its new asset-purchase program and must bend its own rules to keep the scheme running longer, risking fresh internal and legal conflict, two sources familiar with the process said. That opened a rift in a normally collegial Governing Council-- conservative...
Del Vecchio, who founded spectacles maker Luxottica in the 1960 s, told Business Insider Italia, that Mediobanca was too small, having missed out on a number of possible deals. Del Vecchio grew Luxottica via acquisitions and merged it with French lens manufacturer Essilor last year. He invited Mediobanca on Wednesday to build up its investment banking business...
*Vietnam suffering capacity issues in wake of trade war. HO CHI MINH CITY/ HANOI, Oct 11- A new front has opened in the U.S.- China trade war as companies shifting manufacturing to Vietnam engage in a fierce battle for skilled labor, aggravating an existing shortage and prompting calls for education reforms to address the problem. Vietnam has emerged as one of the...
ROME, Oct 10- Italy plans to sell more debt denominated in foreign currencies next year after demand for its first U.S. dollar bond in nearly a decade exceeded expectations, the head of debt management at the Treasury said. Italy's first U.S. dollar bond since 2010 drew more than $18 billion in orders this week, allowing the Treasury to raise $7 billion and helping to...
The changes under consideration include shutting down a bond trading platform called BondVision, and moving the management functions of Italian securities' clearing operations from Milan to London, the sources said. The British group is moving ahead with a $27 billion plan to buy Refinitiv after Hong Kong's bourse scrapped an unsolicited $39 billion bid...
*FTSE 100, FTSE 250 up 0.3%. *FTSE 100 confirms "Death Cross" pattern. The FTSE 100 ended 0.3% higher, after flipping back and forth during the day on mixed signals over the state of affairs between Beijing and Washington, while the midcap index that has a greater UK exposure also rose by the same level.
*Optimism around U.S./ China trade talks, Brexit deal. LONDON, Oct 10- Euro zone government bond yields rose to three-week highs on Thursday on optimism around trade U.S./ China trade talks and after the British and Irish prime ministers said they still saw a path to a Brexit deal. Chinese Vice Premier Liu He said on Thursday that China is willing to reach an agreement...
ROME, Oct 10- Italy plans to sell more debt denominated in foreign currencies next year after demand for its first U.S. dollar bond in nearly a decade exceeded expectations, the head of debt management at the Treasury said. Italy's first U.S. dollar bond since 2010 drew more than $18 billion in orders this week, allowing the Treasury to raise $7 billion and helping to...
*Hong Kong a magnet for travellers and shoppers. PARIS, Oct 10- A strong sales update from LVMH boosted stocks across the luxury goods sector on Thursday, as months of unrest in Hong Kong proved less of a drag on the Louis Vuitton owner in the third quarter than expected. Luxury labels rely on Hong Kong as a magnet for travellers and shoppers across Asia, and several...
ROME, Oct 10- Italy plans to sell more debt denominated in foreign currencies next year after demand for its first U.S. dollar bond in nearly a decade exceeded expectations, the head of debt management at the Rome Treasury said. Italy's first U.S. dollar bond since 2010 drew more than $18 billion in orders this week, allowing the Treasury to raise $7 billion and...
*Budget to be around 17 billion euros over seven years. LUXEMBOURG, Oct 10- European Union finance ministers agreed on a small budget for the euro zone on Thursday, ending two years of talks that exposed their divisions over greater integration after a sovereign debt crisis that nearly destroyed the euro. The new budget-- the first for the euro zone as a whole-- will...
BRUSSELS/ ATHENS, Oct 10- Plans to cut bad loans at Greek banks by up to 30 billion euros gained approval on Thursday from the European Union, which said they did not violate state aid rules. Banks in Greece have been working to reduce a pile of about 75 billion euros in bad loans, the legacy of a financial crisis that shrank the country's economy by a quarter.
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