UniCredit has appealed to court against Italy govt's terms on its Banco BPM bid, Repubblica says
ROME, May 23 (Reuters) - Italian bank UniCredit (CRDI.MI), opens new tab has appealed to an administrative court against the "golden power" terms the Italian government has imposed regarding its bid for smaller peer Banco BPM, newspaper la Repubblica reported on Friday.
The newspaper did not give its sources for the report, and also said the bank did not confirm the reported move.
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Telegraph
20 hours ago
- Telegraph
Spain could block Gibraltar's removal from EU money laundering list
Spanish conservatives are seeking to stop Gibraltar being removed from an EU list of jurisdictions with lax money laundering and terror financing controls. The centre-Right People's Party (PP) believes keeping the British Overseas Territory on the list is vital to maintaining pressure in negotiations over its future. The populist Vox party will also join an attempt to block Gibraltar's removal because of the party's long-standing support for Spain's sovereignty claim over the Rock, which was ceded by the Spanish king to Britain in 1713. A Vox source told The Telegraph: 'We will, of course, maintain the same position we have consistently held on Gibraltar in every vote. In our view, Gibraltar is a territory unlawfully colonised by the United Kingdom and does not meet the necessary conditions. 'Therefore, we firmly reject any proposal to remove it from the list of territories concerning capital movements.' Inclusion on the EU's 'grey list' comes as a reputational blow and introduces red tape that makes it less appealing to do business with. Gibraltar is on the list with countries including Afghanistan, Burkina Faso, Iran, North Korea and Yemen. The European Commission has proposed removing the Rock, but requires a majority vote in the European Parliament to confirm the decision. Eurocrats failed in a previous attempt to tweak the list, with conservative and socialist politicians forming an unlikely alliance to quash the move. Earlier this year, Right-wing MEPs voted against the changes because of Gibraltar's proposed removal, while their Left-wing counterparts opposed it because of a recommendation to remove the United Arab Emirates. The People's Party urged the Spanish government to intervene to prevent Gibraltar being removed from the EU list in January. It said that the Rock 'continues to be a territory that is too lax with respect to its commitments to combat money laundering and terrorist financing'. The PP also argued that under no circumstances should Gibraltar be removed before a deal was struck between Brussels and the UK on the post-Brexit relationship with the Rock. Its politicians are the second-largest national delegation in the centre-Right European People's Party (EPP) and hold powerful influence over the direction of its voting strategies. 'Sufficiently comprehensive' efforts Commission officials believe that the Spanish opposition could be overcome with a recommendation to add Russia to the list of countries. They have previously said Gibraltar's efforts to counter illicit finance and money laundering are 'sufficiently comprehensive' in order to be removed from the list. The Rock was originally included on the grey list because of concerns over regulations for its gambling industry. It was added in 2023, as negotiations between the UK, Spain and the EU were carried out over the territory's post-Brexit future. The talks have repeatedly stalled over sensitive sovereignty issues, including Madrid's wish for Spanish border police to operate security checks at Gibraltar's airport and seaport. There is strong support for Ukraine among the EU parliament's EPP, and vetoing the changes to the list because of the British overseas territory could become controversial amongst its politicians from other states. 'There is huge support for putting Russia on the list,' Markus Ferber, of the EPP, told the Financial Times. The commission's final list of recommendations is expected to be published next week, after a planned announcement was put on hold at the last minute this week. Moscow was originally listed in 2000 but taken off two years later after fulfilling a number of criteria set to reassure the EU.
Reuters
a day ago
- Reuters
Italy stats bureau cuts 2025 GDP growth estimate, in line with government
ROME, June 6 (Reuters) - Italy's economy will grow by 0.6% this year, national statistics bureau ISTAT said on Friday, trimming a previous forecast of 0.8% made in December amid mounting uncertainty over the impact of U.S. President Donald Trump's tariff policy. In its twice-yearly economic outlook report, ISTAT also predicted that gross domestic product (GDP) in the euro zone's third-largest economy would increase by 0.8% in 2026. ISTAT said growth this year and next will be supported entirely by domestic demand, whereas trade flows will have a negative impact in both years. Prime Minister Giorgia Meloni's government in April halved its economic growth estimate for this year to 0.6%, after the economy expanded by 0.7% in each of the last two years. Most analysts put this year's annual growth at between 0.4% and 0.7%. In 2026, Rome sees GDP growth of 0.8%, down from the previous 1.1% target. Despite Italy's weakening economy, its labour market has held up relatively well. Data this week showed the unemployment rate falling to 5.9% in April from 6.1% in the previous month. ISTAT estimated an average jobless rate of 6.0% this year, down from 6.2% seen in December, and forecast a fall to 5.8% next year.
BBC News
a day ago
- BBC News
Barcelona do not have the money to buy Diaz
Spanish football expert Guillem Balague believes "it would be impossible" for Barcelona to sign Liverpool forward Luis Diaz because they do not have the has been speculation overt he 28-year-old's future at Anfield after he and his girlfriend both wrote lengthy posts on social media that could be interpreted as farewell sources have told BBC Sport that Colombia international Diaz is not for sale."He has put himself in the frame of a possible transfer and he has a decision to make," said Balague on BBC Radio 5 Live's Euro Leagues podcast."He has two years left on his contract and Liverpool have no interest in selling him, but they also have no interest in renewing his contract at the moment."Diaz's agent is friends with Deco - Barcelona's sporting director - and Barca really like Diaz because they are looking for a left-winger."They haven't made an offer yet but they are likely to bid 40-60m euros. Liverpool will point out that Bruno Fernandes was going to go for £100m so they expect the same if they are going to sell him."Barcelona don't have that money and, at the moment, they don't know if they can even raise that money because of the financial approvals needed. It would be a puzzle for them to even get the 60m euros."I think it would be impossible for them."Listen to Euro Leagues podcast on BBC Sounds
