Italy

In this last period, the BTP-BUND spread has been reported several times in economic newspapers each time the indicator was around 280. In fact, the 280 level is a historical […]

UBS is close to settling a tax evasion case with Italy for about 100 million euros ($110 million), according to people familiar with the matter. The agreement may come within […]

The European Commission has taken the first steps in fining Italy over its national budget, saying it deviates from the EU’s fiscal rules and commitments made by the previous government. […]

Italy, which is embroiled in a bitter budget row with the European Union that is set to come to a head next week, is expected to be the slowest-growing eurozone […]

Experienced Technical Analyst does not look at a price chart as simple moving lines, but tries to understand, through its trends, the history of price balance between buyers and sellers, […]

Gucci has banned the use of fur. The Kering-owned megabrand says the ban with take effect with its Spring/Summer 2018 collections and it has signed up to the Fur Free Alliance, an organisation that promises to end exploitation and killing of animals for fur, as part of a wider sustainability plan.

“Do you think using furs today is still modern? I don’t think it’s still modern and that’s the reason why we decided not to do that. It’s a little bit out-dated,” chief executive and president Marco Bizzarri told BoF ahead of a speech in London outlining the move. “Creativity can jump in many different directions instead of using furs.”

Unicredit, Italy’s largest bank by assets, posted a stronger-than-expected net profit in the second quarter of the year thanks to lower costs and a drop in loan-loss charges.
Net profit came in at 945 million euros, well above a consensus forecast of 676 million euros distributed by the bank and also helped by a positive one-off item in Germany. Revenues for the second quarter fell 7.8 percent year-on-year to 4.85 billion euros. Net Interest Income (NII) totaled €2.7 billion.

Suspected hackers have accessed client data of Italy’s biggest lender, UniCredit, in two attacks over the past 10 months which affected around 400,000 Italian customers, the most serious hack ever reported by a major Italian lender.
The Milan-based bank blamed a “third party provider” for the two data breaches it discovered, which it said happened between September and October 2016 and again between June and July of this year.