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Europe Top News and Analysis Italy

  • Luxury goods manufacturer Prada on Monday reported first-half revenues up 23%, powered by its Miu Miu brand which surged in Asia.

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  • Customers line up to enter a Northern Rock branch in Bromley, in south-east London, 14 September 2007.

    Troubled British mortgage lender Northern Rock has taken legal advice about whether to pay out a 59 million-pound (US$119 million) dividend to shareholders, the Financial Times said on Monday.

  • Customers line up to enter a Northern Rock branch in Bromley, in south-east London, 14 September 2007.

    Three leading hedge funds are planning a break-up of beleaguered British bank Northern Rock, according to a newspaper report on Sunday.

  • The European Central Bank needs to look at the impact of the high-flying euro when it meets next month and draw the appropriate lessons, French Finance Minister Christine Lagarde said on Friday.

  • Norwegian Petroleum and Energy Minister Odd Roger Enoksen has resigned, the prime minister's office said on Friday without naming his replacement.

  • Italy's Deputy Prime Minister Francesco Rutelli said that Alitalia should remain in Italian hands, the daily La Repubblica reported, citing Rutelli.

  • The current financial turmoil will translate into banks' profits rising more slowly and fewer buybacks, while disclosure rules need to be tightened, Gordon Scott, managing director of financial institutions at Fitch Ratings, told "Squawk Box Europe."

  • The European Commission said on Tuesday it was monitoring events at British mortgage bank Northern Rock but it was too early to say whether guarantees pledged by the British government to worried depositors amounted to illegal state aid.

  • Commerzbank is bracing itself for a higher-than-predicted loss from investments related to risky U.S. mortgages that are set to knock a hole in profits, sources familiar with the matter told Reuters.

  • The global credit crunch may force banks to take back up to 1.2 trillion euros ($1.66 trillion) in debt on their balance sheets if investors are unable to refinance it, the Dutch Central Bank (DNB) said on Monday.

  • The euro zone's trade surplus was smaller than expected in July, unadjusted data showed on Monday, but exports continued to grow more quickly than imports.

  • Qatar's state investment fund is close to buying Nasdaq's 31% stake in the London Stock Exchange Group, newspaper reports said on Sunday.

  • EU finance ministers gave the European Central Bank a thumbs-up on Friday for its efforts to combat a global credit crunch and said they hoped the damage to economic growth from market turmoil would be limited.

  • European car sales zoomed ahead in July and August after slow sales most of the year in major car-buying nations, netting strong results for BMW, DaimlerChrysler, Fiat and General Motors.

  • U.K. Chancellor of the Exchequer Alistair Darling Friday called on global economic policymakers and regulators to provide a coordinated response to financial stability issues arising from the recent period of instability in global financial markets. 

  • European stocks closed in the positive territory Thursday, helped by encouraging signs in credit markets.

  • Bankers are refinancing $100 billion-plus of commercial paper debt maturing into next week without major troubles so far, but borrowers are facing shorter maturities and higher costs as liquidity and confidence remain in short supply.

  • FILES - Picture taken 06 June 2007 shows a man walking past the European Central Bank (ECB) in Frankfurt/M. western Germany. The European Central Bank 14 August 2007 injected 7.7 billion euros (10.5 billion dollars) into the money market to calm liquidity fears in the wake of the crisis in the US home loan sector.

    The current turmoil makes a restart of the European Central Bank's tightening cycle uncertain.  It will take months before financial markets  return to normal.