Business News Milan

  • MILAN, June 17- A long-running criminal probe into diamond sales by Italian banks has uncovered what prosecutors say is further evidence of corruption by officials at UniCredit, Italys largest lender, and smaller rival Banco BPM. In addition to UniCredit and Banco BPM, Intesa Sanpaolo and Banca Monte dei Paschi di Siene are also under investigation.

  • MILAN, June 14- Italian Deputy Prime Minister Matteo Salvini said on Friday that it was necessary to find the best solution for both troubled airline Alitalia and for the Ilva steel plant, in order to safeguard thousands of jobs. We can't think of putting 25,000 workers at risk, "Salvini, who is also the head of the ruling League party, told reporters after a meeting in...

  • MILAN, June 14- A plan for the state to issue short-term debt to settle overdue payments to businesses is included in a government contract signed by the two parties in Italy's ruling coalition, the League's chief economist said on Friday. Asked whether the Rome government would go ahead with plans to issue so-called "mini-BOTs," which have been criticized by both...

  • *Berlusconi-controlled Mediaset to rehouse group in Amsterdam. Mediaset, controlled by the family of former Prime Minister Silvio Berlusconi, said a Dutch shell company would carry out a reverse takeover of both Mediaset, and Madrid- listed Mediaset Espana, issuing shares to owners of both. The family's voting rights, however, would be just above 50 percent,...

  • ZURICH/ MILAN, June 7- UBS looks set to agree a 100 million euro settlement of a money laundering and tax case in Italy within the next few weeks, according to people familiar with the matter, in contrast to a similar case in France. Switzerland's biggest bank is battling a number of court cases in Europe over claims it enabled cross-border tax cheats to hide assets in...

  • MEDIASET SAYS DUTCH HOLDING COMPANY MFE TO BE LISTED IN MILAN, MADRID.

  • *Tech stocks rise on hopes of U.S.- China trade thaw. June 7- European stocks posted their best weekly performance since early April on Friday, aided by strong gains in Paris, against a backdrop of hope among investors that central banks would support global growth with more accommodative policies. The Bundesbank slashed its growth projections for Germany and...

  • *Move to Netherlands could help possible deal with ProSiebenSat. MILAN, June 7- Italian broadcaster Mediaset is likely to move its legal headquarters to a holding company in the Netherlands as part of a reorganization that could help pave the way to creating a pan-European TV company, two sources close to the matter said. Mediaset, controlled by the family of...

  • June 6- Euro zone shares underperformed their broader European peers on Thursday, hit by a stronger euro after the European Central Bank matched investors' expectations in keeping rates untouched but refrained from providing as dovish an outlook as hoped. Germany's DAX shed 0.2%, while French stocks fell 0.3%. London- traded equities eked out a gain.

  • *France's Le Maire says wanted to have Nissan support. PARIS/ MILAN, June 6- France was battling to defend its business strategy on Thursday after being blamed for scuppering a $35 billion- plus merger between carmakers Fiat Chrysler and Renault only 10 days after the plan was officially announced. Shares in Italian-American FCA and France's Renault fell...

  • PARIS/ MILAN, June 6- France was battling to defend its business strategy on Thursday after being blamed for scuppering a $35 billion- plus merger between carmakers Fiat Chrysler and Renault only 10 days after the plan was officially announced. Shares in Italian-American FCA and France's Renault fell sharply in early trade after FCA pulled out of talks, saying "...

  • June 6- European shares rose more than half a percent on Thursday, bolstered by expectations of stimulus from the European Central Bank and a rise for Fiat-Chrysler shares after the shock collapse of its merger with Renault-Nissan. The pan-European STOXX 600 index rose 0.6% by 0816 GMT, with bank-heavy indexes in Milan and Madrid both up nearly 1% on the...

  • *France's Le Maire says deal didn't have Nissan support. PARIS, June 6- Shares in Fiat Chrysler and Renault fell sharply in early trading on Thursday after their $35 billion- plus merger plan fell apart only 10 days after being made public, with FCA blaming French politicians. The collapse of the deal, which would have created the world's third-biggest carmaker...

  • PARIS, June 6- Shares in Peugeot-carmaker PSA rose on Thursday, as analysts examined the possibility that Fiat Chrysler might turn back to PSA after FCA withdraw a merger offer for Renault. PSA shares were up 1.5% by 0740 GMT, in sharp contrast to Renault whose shares slumped 6.6% while FCA's shares also fell in Milan. French state bank BPIfrance has a 12.2% stake in...

  • June 6- European shares rose on Thursday, as expectations the European Central Bank will provide more stimulus for an ailing euro zone economy countered disappointment over the collapse of Renault-Nissan's merger with Fiat-Chrysler. Shares of Fiat Chrysler Automobiles MV slipped 1.6%, weighing on Milan's bluechip index, after the Italian carmaker...

  • June 5- European stock markets crept higher on Wednesday as defensive shares gained ground, but rising tensions between Italy and the European Commission over the country's debt dampened sentiment. The European Commission said Italy was in breach of EU fiscal rules due to its growing debt and this justified a disciplinary procedure, a position that firmly...

  • *Firms with Mexico exposure hit, Spanish lenders decline. May 31- European stocks tanked on Friday, with auto-makers hit especially hard, after U.S. "President Donald Trump is playing a Game of Thrones with both foreign and domestic adversaries," Ed Yardeni, president and chief investment strategist at Yardeni Research, wrote in a note.

  • MILAN/ FRANKFURT, May 31- Broadcasters ProSiebenSat.1 and Mediaset denied a newspaper report on Friday that they were in talks on creating a pan-European TV company after the Italian media house bought a 9.6% stake in its German rival this week. The holding company would be based in the Netherlands or Belgium and not in countries such as Italy, Spain or Germany...

  • *Markets shut in Switzerland, Denmark, Sweden, among others. May 30- Jumps for two of Europe's biggest newspaper publishers helped European stocks gain early on Thursday, recovering from a more than 3- month closing low a day earlier as U.S.- China trade concerns continued to weigh on stock markets. Britain's Daily Mail also gained over 8% after it reported a...

  • LONDON, May 30- Global stocks will continue their march to higher ground but an escalation of the U.S.- China trade war poses the biggest risk, Reuters polls of over 200 equity strategists, analysts and fund managers from around the world found. "The trade war is the primary issue, with recent softness in U.S. macro- where resilience had been accepted wisdom- a product...