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☆ Italy, France and Germany agree on launches of Ariane 6 and Vega-C
▼ + stars: | 2023-11-06 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

A worker of Ariane Group stands in front of a Ariane 6 rocket's Vulcain 2.1 engine, prior to the visit of French President Emmanuel Macron, in Vernon, France January 12, 2021. Christophe Ena/Pool via REUTERS/File Photo Acquire Licensing RightsROME, Nov 6 (Reuters) - Italy, France and Germany on Monday have reached a deal underpinning future launches of the delayed Ariane 6 and Avio's (AVI.MI) smaller Vega-C rockets, Italy's industry minister said. The smaller Vega-C has been grounded since Dec. 22 after a failed launch. Italy has been campaigning for the rocket to be marketed separately from ArianeGroup subsidiary Arianespace, which currently sells and operates all major European launches. The three-way agreement was signed during a European Space Agency (ESA) ministerial meeting in Seville, Spain.

Persons: Emmanuel Macron, Christophe Ena, Safran, Urso, Arianespace, Josef Aschbacher, Giuseppe Fonte, Cristina Carlevaro, Federico Maccioni, Tim Hepher Organizations: Ariane, Rights, Airbus, Space Agency, ESA, Soyuz, Thomson Locations: Vernon, France, Italy, Germany, Europe, Vega, Milan, Avio, Seville, Spain, Ukraine

☆ Nexi shares fail to open on bid report as CVC declines to comment
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

Bloomberg reported on Tuesday that CVC was in the early stages of considering a possible bid for Nexi, Europe's largest payments company by volume of transactions. Nexi shares have lost 22% this year, adding to a 47% drop in 2022 and stoking speculation about potential takeover interest. By 0730 shares in Nexi were indicated up 16.7% at 6.72 euros a share, not far from a record low of 5.25 euros a share hit earlier this month. The presence of shareholder funds which will eventually need to liquidate their investment and the depressed share price have fuelled persistent speculation about Nexi's future. The government has powers to block any unwanted interest over a company such as Nexi, considered of strategic national interest.

Persons: Alessandro Garofalo, Friedman, Bain, Elisa Anzolin, Giancarlo Navach, Valentina Za, Cristina Carlevaro, Gavin Jones Organizations: REUTERS, CVC Capital Partners, Bloomberg, Nexi, Nets, Thomson Locations: Milan, Italy, Nexi

☆ Pope Deplores 'Desperate' Situation in Gaza
▼ + stars: | 2023-10-18 | by ( Oct. | At A.M. | ) www.usnews.com time to read: 1 min

VATICAN CITY (Reuters) - Pope Francis on Wednesday deplored the "desperate" situation in Gaza as he urged the faithful to take "only one side" in the Israel-Hamas conflict, "the side of peace." Speaking during his weekly audience in St Peter's Square, Francis did not explicitly mention the Gaza hospital strike for which Israelis and Palestinians are blaming each other. He pleaded for all possible efforts "to avoid a humanitarian catastrophe", and said he would lead special prayers for peace in St Peter's Basilica on Oct. 27. (Reporting by Alvise Armellini, editing by Cristina Carlevaro)

Persons: Pope Francis, Francis, Alvise Armellini, Cristina Carlevaro Organizations: VATICAN CITY, Wednesday Locations: Gaza, Israel, St Peter's

☆ Brussels attacker arrived in Italy's Lampedusa in 2011 - sources
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

A member of Belgium soccer team boards a bus at King Baudouin Stadium after play was suspended after a shooting in Brussels, Belgium, October 17, 2023 REUTERS/Yves Herman Acquire Licensing RightsROME, Oct 17 (Reuters) - The Tunisian man suspected of shooting dead two Swedish football fans in Brussels arrived in Italy's Lampedusa island in 2011, two Italian government and security sources said on Tuesday, confirming a report by the ANSA news agency. The suspect spent some time in Italy before moving to Sweden, but was expelled from there under the EU's "Dublin" rules and returned to Italy, one of the sources said. Italian authorities lost track of him some time in 2016 and presumed he had again moved abroad, the source added. In Brussels, Belgian Justice Minister Vincent Van Quickenborne said his country had received an unconfirmed report in 2016 from a foreign police service indicating that the suspected attacker had a "radicalised profile" and wanted to go to a war zone to wage jihad. Reporting by Angelo Amante and Alvise Armellini, editing by Cristina Carlevaro and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman Acquire, radicalisation, Vincent Van Quickenborne, Angelo Amante, Alvise, Cristina Carlevaro, Alex Richardson Organizations: Belgium soccer, King Baudouin, Rights, Belgian, Thomson Locations: Belgium, Brussels, Swedish, Italy's Lampedusa, Italy, Sweden, Dublin, Bologna

☆ Avio's Vega C rockets to fly again in late 2024 after ESA recommendations
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +1 min

The logo of the European Space Agency (ESA) is seen during the ESA Council at Ministerial level (CM22) at the Grand Palais Ephemere in Paris, France, November 23, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsMILAN, Oct 2 (Reuters) - Italy's Avio (AVI.MI) said on Monday its Vega C rockets would return to flight in late 2024 after implementing fixes recommended by an independent panel set up by the European Space Agency (ESA) following a failed satellite launch. An Arianespace mission on Dec. 20 carrying two Airbus (AIR.PA) Defence & Space satellites failed around two and a half minutes into flight when an anomaly occurred with the Zefiro 40 motor used by the Vega C rockets. A task force led by ESA and Avio is working on implementing the recommendations of the enquiry panel, Avio added. Italy's Vega C rocket is due to play an increasingly crucial role in Europe's access to space after Moscow's invasion of Ukraine forced launch firm Arianespace to stop using Russian Soyuz vehicles.

Persons: Benoit Tessier, Vega, Avio, Italy's Vega, Cristina Carlevaro, Alessandro Parodi, Alvise Organizations: European Space Agency, ESA, Palais Ephemere, REUTERS, Airbus, Space, Guiana Space Centre, Russian Soyuz, Thomson Locations: Paris, France, Italian, Ukraine, Russian

☆ Facing fares row, Ryanair hit by new antitrust probe in Italy
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

Ryanair said on Wednesday that internal Italian flights to Sicily would be cut by 10% in its latest winter schedule, blaming the government's planned price cap. Eddie Wilson, the chief executive of Ryanair DAC, the biggest airline in the Ryanair group, said the airline opposed the measure despite the modification. During a visit to Sicily, Wilson contrasted Ryanair's expansion of foreign flights to and from the island with the reduction on domestic routes. "Italian domestic growth has sadly been negatively impacted by the Italian government's unlawful price cap decree to restrict airlines’ freedom to set low air fares," Wilson said in a statement. Ryanair has already reduced its domestic schedule for flights to Sardinia over the winter.

Persons: International Eleftherios Venizelos, Alkis, Eddie Wilson, Wilson, Alvise Armellini, Keith Weir, Cristina Carlevaro, Jason Neely, Barbara Lewis Organizations: Ryanair, Company, Europe's, International Eleftherios, REUTERS, Ryanair DAC, Thomson Locations: Italy, Sicily, ROME, Athens, Greece, Sardinia

[1/2] A bartender pours a drink at a Campari inauguration of a new brand house for Aperol, its best-selling beverage, in Venice. Shares in Campari fell by more than 5% in Milan after the departure of Kunze-Concewitz, who is 56, was announced. Under Kunze-Concewitz, Campari roughly tripled its net sales and profitability, investing around 3 billion euros ($3.2 billion) on acquisitions. Sales of Aperol have increased by 12 times since 2007 and it has become the group's largest brand. Kunze-Concewitz, an Austrian citizen who was born in Istanbul, will remain as a non-executive director at Campari.

Persons: Manuel Silvestri, Bob Kunze, Matteo Fantacchiotti, Kunze Concewitz, Fantacchiotti, Italy's, Cristina Carlevaro, Elisa Anzolin, Keith Weir, Jason Neely, Alexander Smith Organizations: REUTERS, Asia Pacific, Nestle, Diageo, Carlsberg, Jefferies, Reuters, Thomson Locations: Aperol, Venice . Italy, Italian, Campari, Milan, Asia, Austrian, Istanbul

☆ Juventus owners are considering selling club - press
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

Soccer Football - Europa League - Semi Final - First Leg - Juventus v Sevilla - Allianz Stadium, Turin, Italy - May 11, 2023 General view of Juventus flags seen outside the stadium before the match REUTERS/Massimo Pinca/File Photo Acquire Licensing RightsROME, Sept 11 (Reuters) - The Exor holding company that owns Juventus is considering putting the Serie A club up for sale, Italian daily Il Giornale wrote on Monday, without citing sources. Exor believes that after operations to clean up the accounts of Italy's most historically successful team it can put it on sale for at least 1.5 billion euros ($1.61 billion), Il Giornale added. Juventus was banned from UEFA competition for this season after finishing seventh in Serie A last term due to a 10-points deduction for alleged false accounting practices. Speculation has arisen in the past about the possibility of Exor selling Juventus, and in May a company spokesman told Reuters its commitment to the club "remains unchanged." ($1 = 0.9316 euros)Reporting By Gavin Jones, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

Persons: Massimo Pinca, Il Giornale, Agnelli, Exor, Giornale, Gavin Jones, Cristina Carlevaro Organizations: Soccer Football, Europa League, Juventus, Sevilla, Allianz, Rights, Serie, UEFA, Thomson Locations: Turin, Italy, Netherlands

☆ 'Pizza' painting found in ancient Roman ruins of Pompeii
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

ROME, June 27 (Reuters) - A fresco that depicts what might be an ancestor of the Italian pizza has been found on the wall of an house in the ancient Roman city of Pompeii, Italy's Culture Ministry said on Tuesday. While it cannot technically be considered a pizza, since it lacks classic ingredients such as tomato and mozzarella, what was found in Pompeii "may be a distant relative of the modern dish", according to a statement. Pompeii, destroyed by an eruption of the Mount Vesuvius volcano nearly 2,000 years ago, is only about 23 km away from Naples, the modern-day home of the Italian pizza, a UNESCO-protected food. The fresco was discovered in the hall of a house that had a bakery attached to it, which was partly excavated in the 19th century and where digging resumed in January, the culture ministry said. ($1 = 0.9142 euros)Reporting by Cristina Carlevaro, editing by Alvise Armellini and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

Persons: Cristina Carlevaro, Alvise Armellini, Angus MacSwan Organizations: Culture Ministry, UNESCO, EU, Thomson Locations: Naples

☆ Four dead after tourist boat capsizes on Italy's Lake Maggiore
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: 1 min

MILAN, May 29 (Reuters) - Four people died late on Sunday after a tourist boat capsized on Lake Maggiore in northern Italy due to a sudden whirlwind, the fire brigade and media reported. People were celebrating a birthday on the 16-metre-long boat when it capsized and sank in a violent storm. Nineteen survivors swam to shore without serious injury, fire brigade said on Twitter, adding the wreck was found by its divers at a depth of 16 metres. Reporting by Cristina Carlevaro; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ UniCredit raises 2023 goals after stronger-than-expected quarter
▼ + stars: | 2023-05-03 | by ( Valentina Za | ) www.reuters.com time to read: +3 min

UniCredit forecast a 2023 profit above 6.5 billion euros ($7.2 billion), up from January guidance that broadly matched its 2022 result of 5.2 billion euros. Net profit in the first three months came in at 2.06 billion euros, well above an average analyst forecast of 1.3 billion euros in a bank-provided consensus, boosted by an 18% yearly jump in revenues. Net interest income in the quarter topped expectations rising 43.6% year-on-year to 3.3 billion euros. Net fees also unexpectedly strengthened 10.7% from the previous quarter, surpassing forecasts at 2.0 billion euros. "There are a number of opportunities we see across Europe [but] financially we still represent the best value proposition for our investors," he said.

☆ Italian investor in UniCredit, Banco BPM sees 'strategic value' in deal
▼ + stars: | 2023-04-19 | by ( Valentina Za | ) www.reuters.com time to read: +2 min

Italy's No.2 bank UniCredit was preparing an offer for number three Banco BPM in 2022, before the Ukraine conflict forced CEO Andrea Orcel to focus on its Russia exposure. Orcel had looked to move on Banco BPM soon after becoming UniCredit CEO two years ago, but instead entered talks with the government over a possible Monte dei Paschi (BMPS.MI) acquisition that eventually fell through. Fondazione CRT holds 1.9% of UniCredit and 1.8% of Banco BPM. Twenty years later that gap is still there so the strategic value of the deal remains". Born from the merger of BPM with Verona-based Banco Popolare, Banco BPM controls 12% of Lombardy's banking market, twice UniCredit's market share.

☆ Italian police arrest four for stealing Leclerc's watch
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

ROME, April 4 (Reuters) - Italian police have arrested four people wanted in connection with the theft of a luxury watch from Ferrari's Formula One driver Charles Leclerc last year. Leclerc, who is from Monte Carlo, had his exclusive Richard Mille timepiece stolen from his wrist in the Italian seaside resort of Viareggio last April. The theft took place when the Formula One driver was approached by two people wearing motorcycle helmets who asked for a selfie. An investigative source said it was not yet possible to say if either of the watches found were the one stolen from Leclerc. Reporting by Cristina Carlevaro and Giselda Vagnoni; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Meta, Italy's Mediaset sign deal against online piracy
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: 1 min

MILAN, March 29 (Reuters) - Italy's top commercial broadcaster MFE-Mediaforeurope (MFEB.MI) said on Wednesday its unit Mediaset had partnered up with Facebook owner Meta Platforms (META.O) to fight online piracy. Under the multi-year partnership, Mediaset will work with Meta to implement a set of tools and systems to protect its unit Reti televisive Italiane (RTI)'s copyrighted content, including live broadcasts. Meta will also provide RTI with training and support to make the most effective use of the U.S. group's 'Rights Manager' tool to allow the Italian company to authorise, manage and protect its content. Reporting by Federico Maccioni, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

CROTONE, Italy, Feb 28 (Reuters) - Rescuers pulled the body of a man out of the sea on Tuesday, raising the death toll from a migrant shipwreck near the southern Italian coast to at least 64, including about 14 children. Rescuers said most of the migrants came from Afghanistan, as well as from countries including Iran, Somalia and Syria. Pakistan's foreign ministry said 20 Pakistani citizens had been on the boat, and 16 of them had survived but four were missing. Italian Prime Minister Giorgia Meloni said in an interview on Monday that she had written to European Union institutions calling for immediate action by the bloc to stop migrant boat trips so as to prevent more deaths. Reporting by Angelo Amante, Remo Casilli writing by Cristina Carlevaro, editing by Keith Weir and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's MPS to rejoin Milan's blue-chip index from March 20 - sources
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

ROME, Feb 27 (Reuters) - Banca Monte dei Paschi di Siena (MPS) (BMPS.MI) is set to rejoin the FTSE MIB blue-chip index on the Milan stock exchange after six years of absence, two market sources told Reuters on Monday. MPS is currently in the FTSE MID Cap index and left the blue-chip index in March 2017. At 1536 GMT, its stock was up by more than 3.6%, outperforming Italy's bank sub-index (.FTITLMS3010). One trader said MPS' stock has benefited from very high liquidity following November's 2.5-billion-euro new share issue, making it eligible for blue-chip status. At the same time, Italian cement maker Buzzi Unicem (BZU.MI) is "very likely" to be downgraded from the blue-chip to the FTSE MID Cap index, the trader said.

☆ Italy faces new drought alert after another dry winter
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

MILAN, Feb 20 (Reuters) - Weeks of dry winter weather have raised concerns that Italy could face another drought after last summer's emergency, with the Alps having received less than half of their normal snowfall, according to scientists and environmental groups. Italian rivers and lakes are suffering from severe lack of water, the Legambiente environmental group said on Monday, with attention focused on the north of the country. Last July Italy declared a state of emergency for areas surrounding the Po, which accounts for roughly a third of the country's agricultural production and suffered its worst drought for 70 years. "We need to recover 500 millimetres in the north-western regions: we need 50 days of rain," he added. Latest weather forecasts do however signal the arrival of much-needed precipitation and snow in the Alps in coming days.

☆ Italy's Eni, Esso, other firms' offices searched in fuel pricing probe
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

MILAN, Jan 16 (Reuters) - Italy's antitrust authority said on Monday it had searched the offices of several oil companies, including Italy's Eni (ENI.MI) and Exxon Mobil Corp's (XOM.N) ESSO Italiana unit, over alleged fuel price violations. The authority, which carried out the inspections with the help of Italy's tax police, said it was probing irregularities concerning prices being charged at the pump which were higher than those advertised, as well as failures in advertising fuel prices. Eni, Esso, Italia Petroli, Kuwait Petroleum Italia and Tamoil allegedly failed to adopt appropriate measures "to prevent and counteract this unlawful conduct to the detriment of consumers", the competition watchdog said in a statement. Fuel prices have taken centre stage in Italy after Prime Minister Giorgia Meloni's executive dropped a costly reduction in excise duties introduced by the previous government when the price of petrol exceeded 2 euros per litre. Reporting by Cristina Carlevaro, Francesca Landini, editing by Federico Maccioni, Valentina Za and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Italian police arrest most wanted mafia boss Messina Denaro in Sicily
▼ + stars: | 2023-01-16 | by ( Vladimiro Pantaleone | ) www.reuters.com time to read: +1 min

PALERMO, Italy, Jan 16 (Reuters) - Italian police said on Monday they had arrested Matteo Messina Denaro, the country's most wanted mafia boss who had been on the run for three decades, swooping on a private hospital in the Sicilian capital Palermo where he had gone for treatment. Prosecutors say Messina Denaro is a boss of Sicily's Cosa Nostra mafia. Italian Prime Minister Giorgia Meloni hailed the arrest as "a great victory for the state that shows it never gives up in the face of the mafia". Messina Denaro, who comes from the small town of Castelvetrano near Trapani, is accused by prosecutors of being solely or jointly responsible for numerous other murders in the 1990s. In 1993 he helped organise the kidnapping of a 12-year-old boy, Giuseppe Di Matteo, in an attempt to dissuade his father from giving evidence against the mafia, prosecutors say.

☆ Italy's Eni, Esso offices raided in antitrust probe over fuel price breaches
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

MILAN, Jan 16 (Reuters) - Italy's antitrust authority said on Monday the offices of several oil companies, including Italy's Eni (ENI.MI) and Exxon Mobil Corp's (XOM.N) ESSO Italiana unit, have been searched over alleged fuel price violations. Eni, Esso, Italia Petroli, Kuwait Petroleum Italia and Tamoil allegedly failed to adopt appropriate measures "to prevent and counteract this unlawful conduct to the detriment of consumers," the competition watchdog said in a statement. Eni had no immediate comment, while the other companies involved were not immediately available for a comment. Fuel prices have taken centre stage in Italy after Prime Minister Giorgia Meloni's executive dropped a costly reduction in excise duties introduced by the previous government when the price of petrol exceeded 2 euros per litre. Reporting by Cristina Carlevaro, Francesca Landini, editing by Federico Maccioni and Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

☆ Edison CEO denies EDF planning to sell Italian company - paper
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

MILAN, Jan 5 (Reuters) - Edison's (EDNn.MI) chief executive said on Thursday that rumours French power group EDF (EDF.PA) plans to sell its Italian arm are "groundless". There is not an Edison dossier at the moment", Nicola Monti was quoted as saying in an interview with Italian daily La Stampa. EDF denied an Italian media report last August that it was considering a sale of its Italian unit. Energy analysts have said a sale of Edison could help EDF reduce its debt and press ahead with an ambitious investment plan. Italian media reported in August that EDF planned to kick off a sale process for Edison in the first quarter of this year once the nationalisation process had been completed.

ROME/PARIS, Dec 21 (Reuters) - Italy's Vega rockets have been grounded and an investigation is under way after the latest model failed on its second mission, destroying two Earth-imaging satellites and further complicating Europe's access to space on top of the war in Ukraine. A spokesperson for Arianespace said both the Vega C and its Vega predecessor had been grounded pending the findings of an investigative commission co-chaired by technical officials from the European Space Agency and Arianespace itself. Italy's Vega C rocket is due to play an increasingly crucial role in Europe's access to space after Moscow's invasion of Ukraine forced Arianespace to stop using Russian Soyuz vehicles. But Arianespace has been forced to scrap plans to announce a Vega C launch schedule for 2023 in coming weeks. Analysts said only a few operational alternatives to Vega C exist, such as potential rideshares aboard U.S.-based SpaceX's bigger Falcon 9 or Firefly Aerospace's new Alpha launcher, which can loft roughly half the payload weight of Vega C.Other options, though somewhat larger than Vega C, include rockets from Japan and India.

☆ Talks over new job contracts at Italian auto groups to continue in January - union
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

MILAN, Dec 12 (Reuters) - Ongoing talks over new job contracts in Italy for Stellantis (STLA.MI), Ferrari (RACE.MI), CNH Industrial (CNHI.MI) and Iveco (IVG.MI) will be extended into January, a union representative said on Monday. Gianluca Ficco of UILM union told Reuters talks, which where initially scheduled to end this week, would "predictably" continue next month, when unions and the four companies deal with key issues, including proposed salary increases. Stellantis was not immediately available for comment. Reporting by Giulio Piovaccari, editing by Cristina CarlevaroOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's Cucinelli and EssilorLuxottica sign eyewear license accord
▼ + stars: | 2022-11-21 | by ( Gabriel Araujo | ) www.reuters.com time to read: +1 min

[1/2] Glasses manufactured by EssilorLuxottica, stand on display in their exhibition space at SILMO in Villepinte, near Paris, France September 24, 2022. REUTERS/Benoit TessierMILAN, Nov 21 (Reuters) - Brunello Cucinelli (BCU.MI) signed an exclusive license deal with French-Italian glasses maker EssilorLuxottica (ESLX.PA) for the design, manufacture and distribution of eyewear under the Italian luxury group's brand, the two companies said in a statement on Monday. The new ten-year agreement will be effective from next January, while the first collection of glasses will be launched in the first quarter of 2024. The deal is an extension of the current collaboration between the two firms that began in 2021, including a capsule collection signed by Brunello Cucinelli and EssilorLuxottica's exclusive brand Oliver Peoples, they added. Reporting by Cristina Carlevaro editing by Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

☆ Italian auto groups view 8.4% pay hike request as too high, union says
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

MILAN, Oct 26 (Reuters) - Four auto groups believe pay increase requests proposed by Italian unions, including a 8.4% annual rise for next year, is too high, the UILM union said on Wednesday as talks got underway. The FIM-CISL, UILM, Fismic, UGLM and AQCF unions also requested wage increases of 4.5% for 2024 and 2.5% for 2025 to help workers recover purchasing power lost due to a Europe-wide spike in consumer price inflation. He added Stellantis considered the new contract it is discussing with unions a "valuable tool" to achieve its competitiveness ambitions in Italy. Unions and the companies have scheduled seven more meetings to be held between mid-November and mid-December. Reporting by Giulio Piovaccari Editing by Cristina Carlevaro, Mark Potter and David GregorioOur Standards: The Thomson Reuters Trust Principles.

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