Latest news with #Italy
Reuters
8 minutes ago
- Business
- Reuters
Main goal in Italy bank M&A should be better credit, savings products, central bank says
ROME, May 30 (Reuters) - The Bank of Italy on Friday urged domestic lenders, which are facing an unprecedented wave of hostile takeover bids, not to lose sight of the main goal of merger deals: improving the offer of credit and savings products for customers. Presenting the Bank of Italy's annual report in Rome, Governor Fabio Panetta said consolidation efforts could bring Italy's banking sector more into line with that of the other main European countries. Italy is being rocked by a raft of bids which have pitted the country's second-biggest bank UniCredit ( opens new tab against the government. The lender has challenged in court the conditions Rome has imposed to clear its proposed acquisition of smaller peer Banco BPM ( opens new tab. Bank mergers "must be well-designed and aimed solely at value creation," Panetta said. "Creating value means, first and foremost, offering firms and households adequate financing in terms of quantity and costs; effective and transparent savings instruments at fair conditions; qualified and innovative services consistent with Italy's development needs," Panetta said. The Bank of Italy's role is to make sure banks formed through deals are "sound in terms of capital, liquidity and risk governance," he added. "Other national and foreign authorities operate in accordance with their statutory powers," Panetta said. Italy's government is a on a collision course with European Union authorities because it defends the right to have a say on bank deals -- such as UniCredit's bid for Banco BPM or an asset management tie-up between insurer Generali ( opens new tab and French bank BPCE -- on grounds of national security. "Market dynamics and shareholder decisions" will ultimately determine the outcome of offers, Panetta said.
Telegraph
10 minutes ago
- Business
- Telegraph
Champions League final – bet365 Super Winnings Boost: Get 50% extra on bet builders
It's the Champions League final between PSG and Inter Milan on Saturday and bet365 is marking the occasion by offering a 50 per cent boost on winning bet builders. The deal is available for new and eligible customers. Take a look at our recommended Champions League final bet-builder picks below and read on for our expert analysis. PSG vs Inter – Champions League final bet builder @ 11/2 with bet365 Both teams to score PSG double chance Both teams to receive a card Yann Sommer 4+ saves Fabian Ruiz 1+ fouls Odds courtesy of bet365 Correct at the time of publication and subject to change. If you already have a bet365 account and are looking for a new bookmaker to use for this week's action, check out our list of the best free bets. Leg 1: Both teams to score Inter won their semi-final against Barcelona 7-6 on aggregate and, with PSG having proved their attacking prowess in the knockout rounds, this is a banker that adds some heft to this bet builder. Leg 2: PSG double chance PSG are favourites to win the final in 90 minutes but Inter can't be discounted and showed their fight to eliminate Barcelona, so we're cautiously backing the Parisians to avoid defeat during regular time. Leg 3: Both teams to receive a card There's a lot at stake and it would be a major surprise if there was not at least one card for each side. PSG received two yellows in the second leg of their semi-final against Arsenal, while Inter picked up five when they faced Barcelona at the San Siro. Leg 4: Yann Sommer 4+ saves Inter goalkeeper Yann Sommer made seven saves in each leg of the semi-final against Barca. With PSG sure to be firing plenty of shots, the 36-year-old looks guaranteed to have another busy night. Leg 5: Fabian Ruiz 1+ fouls PSG midfielder Fabian Ruiz has committed at least one foul in four of his previous five games, so there seems a strong chance that this final leg will be a winner. Champions League bet-builder verdict If you placed £10 on this bet builder at odds of 11/2 and it was successful, you would ordinarily win £55. With bet365's 50 per cent boost, you would receive an additional £27.50 in winnings, swelling your total winnings to £82.50 – effectively paying out at odds of just over 8/1. Uefa Champions League final Super Winnings Boost T&Cs: +18. Enhance your winnings by 50 per cent for your Uefa Champions League final bet builders bets with bet365. Only available to new and eligible customers. Bet builders must include 3+ selections and combined odds of 1/1 or greater. Bet restrictions and T&Cs apply.
Bloomberg
18 minutes ago
- Business
- Bloomberg
ECB's Panetta Suggests Inflation Is Almost Defeated in Euro Zone
European Central Bank Governing Council member Fabio Panetta signaled that inflation is nearly fully tamed, while cautioning that further interest-rate cuts require finely balanced judgments. Speaking on the day that his country and two other major euro-zone economies release consumer-price data, the Bank of Italy governor hailed policymakers' progress but warned that their decisions from now on about whether to keep reducing borrowing costs won't get any easier.
Reuters
22 minutes ago
- Business
- Reuters
ECB's Panetta: reduced room for more rate cuts but must be flexible
ROME, May 30 (Reuters) - The European Central Bank has reduced room for further rate cuts but should maintain a pragmatic, flexible approach and make future decisions on a case-by-case basis, governing council member Fabio Panetta said on Friday. ECB policymakers are scheduled to meet on June 5, with financial markets expecting it to lower its key deposit rate to 2% from 2.25%. That would mark the bank's eighth cut in an easing cycle that which began in June last year and has seen the deposit rate come down from 4% to the current 2.25%, reflecting diminishing price pressures and concerns about weak economic growth. "The room for further rate cuts has naturally diminished," Panetta, the governor of the Bank of Italy, said in a keynote speech in Rome. "However, the economic outlook remains weak, and trade tensions could lead to a deterioration," he added. "It will be essential to maintain a pragmatic and flexible approach, considering liquidity conditions and the signals coming from financial and credit markets." Presenting the Bank of Italy's annual report, Panetta said the outcome of trade negotiations between the euro zone and the United States remained uncertain but the tensions were in any case bound to have a "significant impact" on the economy.
Motor 1
23 minutes ago
- Automotive
- Motor 1
Alfa Romeo Could Delay Its Most Important Car
The typical life cycle of a car is around seven years, yet the Stelvio is nearing its 10 th anniversary. It'll still be some time before Alfa Romeo's original SUV transitions to its second generation. A new report claims that deliveries have been delayed to allow development of a version that wasn't initially planned. Stellantis had originally intended to sell the next-generation Stelvio exclusively as an EV, but has had a change of heart and is now working on a hybrid with a gasoline engine. According to Reuters , which cites two people familiar with the matter, deliveries of the next-gen Stelvio won't begin until September or October next year. The original timeline had Alfa Romeo unveiling the midsize luxury SUV later this year and starting shipments in Q1 2026. When contacted by Motor1 , a company spokesperson issued the following statement: Photo by: Alfa Romeo "Stellantis has announced, through a company spokesperson, that it is working on an update to its plan for Italy. The plan includes an expansion and reshaping of activities in the country, in light of current market conditions, uncertainties surrounding EU regulations, and the impact of tariffs. A constructive dialogue is underway in the appropriate forums." The reference to 'market conditions' suggests that Alfa Romeo initially felt confident about launching the new Stelvio as an EV-only model but reconsidered after realizing that electric vehicles were not gaining traction as quickly as expected. The next generation will move from the Giorgio platform to the STLA Large architecture. While STLA Large is electric-first, it also supports combustion engines. Stellantis has already implemented the STLA Large platform for the new Dodge Charger , which is currently available only with electric powertrains. The Charger Sixpack, featuring a twin-turbo inline-six 'Hurricane' engine, is scheduled for the second half of the year, despite Dodge's initial promise to have the gas-powered version on sale by summer. It's still too early to tell whether a potential delay of the Stelvio will also affect the new Giulia. Alfa Romeo has said its BMW 3 Series rival will enter its second generation in 2026. When it arrives, however, it won't be a traditional sedan . Instead, it's expected to adopt a different body style; likely a five-door, slightly lifted liftback in the vein of the Peugeot 408 . The high-performance Quadrifoglio models are also set to return, complete with combustion engines. Alfa Romeo CEO Santo Ficili confirmed the news to our colleagues from Motor1 Italy and hinted at the possible use of Maserati's 'Nettuno' V-6: 2026 Alfa Romeo Stelvio trademark image 4 Source: Alfa Romeo 'A fantastic engine, there will be an evolution in terms of availability. I think it is an engine that can be developed in any brand, as happens in a strong Group like Stellantis where synergies must be sought, so I do not exclude possibilities of this type.' Earlier this week, Stellantis finally announced a replacement for Carlos Tavares , who departed the company in December 2024. Former Jeep CEO Antonio Filosa will now lead the automotive conglomerate, which comprises no fewer than 14 car brands. One of his first trips as CEO will be to Europe, where Stellantis is grappling with a few underperforming brands like DS Automobiles and Lancia. Alfa Romeo, by contrast, is way up in the region. According to the European Automobile Manufacturers' Association (ACEA), shipments in the EU+EFTA+UK region rose by 36.9% to 23,067 units during the first four months of the year. Still, BMW, thanks to a much more diverse portfolio, sold approximately eleven times as many cars in the same period, totaling 264,009 vehicles. Catch Up With Alfa Romeo: Alfa Romeo Won't Make a Sports Car Unless You Keep Buying SUVs The Next Alfa Romeo Giulia Won't Be a Sedan Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Source: Reuters Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
