Equity

Italy launched its first 50-year Bond on Tuesday. Like Spain, France and Belgium, in a statement, the Italian Finance Ministry said the bond would mature on March 1, 2067 and would be issued “in the near future”, as widely announced in recent weeks. The sale was arranged by Banca IMI, BNP Paribas, Goldman Sachs, HSBC France, JP Morgan Securities and Unicredit.
Italy joined other euro zone countries that have locked in historically low rates by selling ultra-long debt this year.

Nestle and Britain’s R&R Ice Cream have completed the transaction to create their new Froneri ice cream and frozen food joint, Nestlè said on Monday.

The 50/50 joint venture will combine Nestle and R&R ice cream businesses across Europe, the Middle East, Argentina, Australia, Brazil, the Philippines and South Africa. Froneri will also include Nestlé’s European frozen food business (excluding pizza and retail frozen food in Italy), as well as its chilled dairy business in the Philippines. Operational headquarters will be located in the UK. The terms of the transaction were not disclosed.

Greek government is facing public discontent as it prepares to approve a new austerity measures and to proceed with a controversial new round of privatisations to secure more cash from its creditors.
Tsipras government presented on Monday its 2017 draft budget to parliament, projecting an economic growth of 2.7% after eight years of recession from a 0.3 percent contraction this year.

Commerzbank plans to cut around 9,600 jobs in the next few years and scrap its dividend for the time being as it restructures to become profitable. The restructuring plan through 2020 will cost about €1.1 billion ($1.2 billion). Actually it employs about 45,000 full-time staff.

"The focus on the core business, with some business activities being discontinued, and the digitalisation and automation of workflows will lead to staff reductions amounting to around 9,600 full-time positions," Commerzbank said.

BlackBerry, the canadian firm that invented the smartphone, stops making mobil phones, John Chen, BlackBerry executive chairman and CEO, said Wedsneday.

The new strategy will enable Blackberry to “focus all of our efforts on where we can deliver differentiation in software and security” which is “aligned with where the market is going,” CEO John Chen said as the company released Q2 earnings.

Boris Johnson, the current British foreign minister, said that since early 2017, it will start the divorce process by the European Union and then Britain will most likely invoke Article 50. In this way the former mayor of London spoke in New York where United Nations Security Council held meeting on Syria perpetuating stalemate.

He told the BBC: "The government is working towards an Article 50 letter which as you know will be produced, probably, in the early part of next year.

he German bunds rallied Thursday after the United States Federal Reserve left interest rates unchanged and downgraded the economic outlook, encouraging investors to seek safe-haven assets.

At its two-day meeting, ended on Wednesday, the U.S. central bank held its target range on short-term rates unchanged at 0.25 percent to 0.50 percent, leaving the door open for a possible rate increase in December.

SBB will cut 1,400 jobs over the next four years: the same federal railways have made the announcement in the morning, motivating the measure with the need to reduce costs and increase competitiveness.