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☆ Italy to Supply Admiral for EU Red Sea Naval Mission
▼ + stars: | 2024-02-02 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

ROME (Reuters) - Italy will provide the admiral in command of a European Union Red Sea naval mission to protect ships from attacks by Yemen's Houthi militia, Defence Minister Guido Crosetto said on Friday. "The European Union today asked Italy to supply the Force Commander for the Aspides Operation in the Red Sea," Crosetto said in a statement. The EU's foreign policy chief Josep Borrell said on Wednesday he hoped the mission, to be named Aspides - meaning "protector" in ancient Greek - could be launched on Feb. 17. Its mandate would be to protect commercial ships and intercept attacks, but not take part in strikes against the Houthis, Borrell said. (Reporting by Angelo Amante; Writing by Gavin Jones; Editing by Daniel Wallis)

Persons: Yemen's, Guido Crosetto, Crosetto, Josep Borrell, Borrell, Angelo Amante, Gavin Jones, Daniel Wallis Organizations: European, Red Sea, Defence Locations: ROME, Italy, Yemen, Gaza, Union, Red, Israel, Greece, Larissa

☆ Britain, Italy and Finland Pause Funding for UN Refugee Agency in Gaza
▼ + stars: | 2024-01-27 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

LONDON (Reuters) - Britain, Italy and Finland on Saturday became the latest countries to pause funding for the United Nations' refugee agency for Palestinians (UNRWA), following allegations its staff were involved in the Oct. 7 Hamas attacks on Israel. It helps about two thirds of Gaza's 2.3 million population and has played a pivotal aid role during the current war. The United States, Australia and Canada had already paused funding to the aid agency after Israel said 12 UNRWA employees were involved in the cross-border attack. "We call on countries that announced the cessation of their support for UNRWA to immediately reverse their decision," he said on X. (Reporting by James Davey in London and Gavin Jones in Rome, Editing by William Maclean and Andrew Cawthorne)

Persons: Israel, Antonio Tajani, Hussein al, James Davey, Gavin Jones, William Maclean, Andrew Cawthorne Organizations: Saturday, United Nations, West Bank, UNRWA, Foreign Office, Palestine Liberation Organization, PLO Locations: Britain, Italy, Finland, Israel, Israel's, Gaza, Jordan, Syria, Lebanon, United States, Australia, Canada, Palestinian, London, Rome

☆ Italy's Salvini says would consider a sound plan to sell railway stake
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Matteo Salvini, Italian infrastructure minister and deputy PM, attends a news conference for the government's first budget in Rome, Italy November 22, 2022. On Monday Salvini, who is also deputy prime minister, was quoted as saying that he was against selling a stake in the company. But in comments at the Foreign Press Association in Rome, he said his 'no' had referred to the absence of any current sale plans for Ferrovie dello Stato (FS). "If there were an (asset sale) plan that could bring me added value, investments, money ... ($1 = 0.9128 euros)Reporting by Alvise Armellini, writing by Gianluca Semeraro; editing by Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Matteo Salvini, Remo Casilli, Salvini, Giancarlo Giorgetti, Alvise Armellini, Gianluca Semeraro, Gavin Jones Organizations: REUTERS, Rights, Transport, Ferrovie dello Stato, Foreign Press Association, FS, Economy, Salvini's League, Thomson Locations: Rome, Italy, Italian, privatisations

☆ Ailing pope to broadcast Sunday prayer from residence
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +1 min

Pope Francis speaks during the weekly general audience, at the Vatican, November 22, 2023. Vatican Media/Handout via REUTERS/File Photo Acquire Licensing RightsVATICAN CITY, Nov 26 (Reuters) - An ailing Pope Francis will recite his weekly prayer and message on Sunday from the chapel of his Vatican residence instead of the usual venue overlooking St. Peter's Square, the Vatican said in a statement. The Vatican on Sunday said he would deliver his usual midday message from the chapel in his residence to avoid going outside for the short journey to the Apostolic Palace. The message will broadcast on giant screens to the crowds gathered in St. Peter's Square, as well as on the usual television and internet channels, the Vatican said without providing further detail on the 86-year-old pope's condition. Reporting by Philip Pullella Writing by Gavin Jones Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Pope Francis, Francis, Philip Pullella, Gavin Jones, David Goodman Organizations: Vatican, Handout, REUTERS, CITY, Thomson Locations: St, Rome, Dubai

☆ Superb Sinner leads Italy to Davis Cup glory against Australia
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +3 min

Italy's number one Sinner produced a devastating display to outclass a helpless De Minaur 6-3 6-0 after Matteo Arnaldi outlasted Alexei Popyrin in the first singles clash. "It helps a lot to play for the whole team and it's been an incredible feeling for all of us," Sinner said as Italy rejoiced at a first Davis Cup title since 1976 and only second ever. Lleyton Hewitt's Australia have now been beaten in the final in successive years having lost to Canada in 2022. Italy and Australia qualify automatically for the 16-nation Finals next year across four cities with the ITF announcing on Sunday that the Final Eight will again be hosted in Malaga. Reporting by Martyn Herman; additional reporting by Gavin Jones, editing by Louise Heavens and Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: deportes Martin, Australia's Alex de Minaur, Jon Nazca, Alex De Minaur, De, Matteo Arnaldi, Alexei Popyrin, Novak Djokovic, Djokovic, Miomir Kecmanovic, Lorenzo Sonego, Sinner, it's, Giorgia Meloni, Arnaldi, Filippo Volandri's, Popyrin, De Minaur, Minaur, Lleyton, Martyn Herman, Gavin Jones, Louise Heavens, Ken Ferris Organizations: Palacio, deportes, deportes Martin Carpena, Davis, REUTERS, Rights, Australia, Serbia, Djokovic, ITF, Thomson Locations: Australia, Italy, Malaga, Spain, Rights MALAGA, Saturday's, Serbia, Italian, Canada

☆ Italy is no country for young chefs
▼ + stars: | 2023-11-25 | by ( Antonella Cinelli | ) www.reuters.com time to read: +9 min

Italy's food is famous the world over but many talented young chefs, hoping to make a career in their country, find themselves frustrated by low pay, lack of labour protection and scant prospects. The current outflow of Italian chefs due to difficult conditions at home is not a new phenomenon. A peep into the kitchens of even the most traditional Italian restaurants shows the local dishes are often prepared by low-paid immigrants. Partly for this reason, young chefs in Italy take home half the salary of their peers in Britain while working longer hours, Mazzei said. British people have become knowledgeable about Italian food, even learning about regional differences, he said, so he preferred to hire Italian chefs to satisfy an increasingly demanding clientele.

Persons: Davide Sanna, Brendan McDermid, Sanna, he'd, It's, Massimo Bottura, Roberto Gentile, Paese, Gentile, Di Marzo, Julio, Francesco Mazzei, Mazzei, Giorgia Meloni's, Francesco Lollobrigida, Antonio Bassu, Bassu, Gavin Jones, Daniel Flynn Organizations: REUTERS, Rights, Star, Michelin, European, European Labour Authority, Reuters, MELONI'S, PRIDE Italian, Thomson Locations: SoHo, New York City, U.S, Sardinia, New York, Italy, Italian, glitzy SoHo, Modena, Spain, Japan, France, Europe, United States, Sicily, ITALY, Le, Toulouse, Britain, Milan, Gaeta, Rome, Naples, Roman, Emilia, Peruvian, Calabria, Italy's, London, Malta, England, Sardinian, Barcelona

☆ Insight: Italy is no country for young chefs
▼ + stars: | 2023-11-25 | by ( Antonella Cinelli | ) www.reuters.com time to read: +9 min

For the past year, the 25-year-old has cooked at Piccola Cucina, an Italian restaurant in Manhattan's glitzy SoHo district, home to designer boutiques and high-end art galleries. The current outflow of Italian chefs due to difficult conditions at home is not a new phenomenon. A peep into the kitchens of even the most traditional Italian restaurants shows the local dishes are often prepared by low-paid immigrants. Partly for this reason, young chefs in Italy take home half the salary of their peers in Britain while working longer hours, Mazzei said. British people have become knowledgeable about Italian food, even learning about regional differences, he said, so he preferred to hire Italian chefs to satisfy an increasingly demanding clientele.

☆ Moody's lifts Italy's debt outlook to stable in boost for Meloni govt
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - Moody's on Friday left Italy's sovereign debt rating at Baa3, one notch above junk, but upgraded the outlook to stable from negative, in an unexpected boost for Prime Minister Giorgia Meloni's government. Most analysts had expected the agency to leave both Italy's rating and outlook unchanged. Moody's had put the euro zone's third-largest economy on a negative outlook in August last year following a government collapse and in the midst of an energy crisis. "The decision to change the outlook to stable from negative reflects a stabilisation of prospects for the country's economic strength, the health of its banking sector and the government's debt dynamics," Moody's said. The European Commission forecast on Wednesday that Italy's debt, proportionally the second-highest in the euro zone, would rise marginally from a projected 140% of national output this year to 141% in 2025.

Persons: Giorgia, Moody's, DBRS, Fitch, Giancarlo Giorgetti, Gavin Jones, Keith Weir, Shounak Dasgupta, Rosalba O'Brien Organizations: P, Economy, Analysts, Saikeerthi, Thomson Locations: Italy, Germany, Bengaluru

☆ Generali has 500 mln euros left for M&A, could return it to investors, CEO says
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

An Assicurazioni Generali SpA's logo is seen on a building of their offices in Saint-Denis, near Paris, France, February 27, 2018. REUTERS/Benoit Tessier/File photo Acquire Licensing RightsMILAN, Nov 8 (Reuters) - Italy's top insurer Assicurazioni Generali (GASI.MI) still has 500 million euros ($533.10 million) left for M&A deals, which will be returned to shareholders if not used for acquisitions, its Chief Executive Philippe Donnet said on Wednesday. In June, the insurer agreed to buy the Spanish unit of U.S. insurer Liberty Mutual for 2.3 billion euros, strengthening its property and casualty segment. I cannot say whether we will make another acquisition before the end of the plan. If we do not use this cash for an acquisition, we will return it to the shareholders", Donnet said.

Persons: Denis, Benoit Tessier, Assicurazioni, Philippe Donnet, Generali, Liberty Seguros, Donnet, Gianluca Semeraro, Gavin Jones Organizations: REUTERS, Liberty Mutual, Holdings, Liberty, Thomson Locations: Saint, Paris, France, Europe, Asia, United States, Connecticut

☆ Italy Grants Citizenship to Baby Girl in Britain to Prevent Weaning off Life Support
▼ + stars: | 2023-11-06 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

ROME (Reuters) - The Italian government on Monday granted citizenship to a critically ill baby girl from Britain, in a move aimed at preventing doctors from weaning her off life support and allowing her to be moved to Italy. Eight-month-old Indi Gregory suffers from a rare mitochondrial disease, which means that her cells do not produce enough energy. Italian Prime Minister Giorgia Meloni's government stepped into the controversy by holding an emergency meeting on Monday which made Gregory an Italian citizen. Had the government not acted, life support machines would have been turned off on Monday, Bignami said. The toddler, Alfie Evans, died a few days after his life support was removed.

Persons: Indi Gregory, Giorgia Meloni's, Gregory, Galeazzo Bignami, Bignami, Dean Gregory, Alfie Evans, Alvise Armellini, Gavin Jones, Nick Macfie Organizations: Facebook, Christian Locations: ROME, Britain, Italy, Nottingham, England, Rome, Italian, Vatican, St Peter's

☆ Italy grants citizenship to baby in Britain to prevent weaning off life support
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

ROME, Nov 6 (Reuters) - The Italian government on Monday granted citizenship to a critically ill baby girl from Britain, in a move aimed at preventing doctors from weaning her off life support and allowing her to be moved to Italy. Eight-month-old Indi Gregory suffers from a rare mitochondrial disease, which means that her cells do not produce enough energy. Italian Prime Minister Giorgia Meloni's government stepped into the controversy by holding an emergency meeting on Monday which made Gregory an Italian citizen. Galeazzo Bignami, a junior minister, said the government's move would allow the baby's transfer to the Bambino Gesu paediatric hospital, and that without it her life support would have been turned off on Monday. The toddler, Alfie Evans, died a few days after his life support was removed.

Persons: Indi Gregory, Giorgia Meloni's, Gregory, Meloni, Galeazzo Bignami, Gregory's, Dean Gregory, Alfie Evans, Alvise Armellini, Gavin Jones, Nick Macfie Organizations: Thomson Locations: Britain, Italy, Nottingham, England, Rome, Italian, Vatican, St Peter's

☆ Be cautious, dove Visco tells ECB on last day as council member
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Acquire Licensing RightsROME, Oct 31 (Reuters) - The European Central Bank (ECB) should be cautious in coming months having hiked rates steeply to curb inflation, Bank of Italy Governor Ignazio Visco said on Tuesday on his last day in office. In a speech to bankers in Rome Visco, long seen as a dove on the ECB's governing council, reiterated his frequent calls for prudence. "I think the (ECB's) orientation to keep rates at current levels for a sufficiently long period of time... is a wise decision," Visco said. Visco will be replaced as Bank of Italy governor by Fabio Panetta, a former member of the ECB executive board.

Persons: Heiko Becker, Ignazio Visco, Rome Visco, Visco, Fabio Panetta, Giuseppe Fonte, Angelo Amante, Gavin Jones Organizations: European Central Bank, REUTERS, Rights, Bank of Italy, Bank of, ECB, Thomson Locations: Frankfurt, Germany, Rome, Bank of Italy

☆ Italy drafts plan for direct election of prime minister
▼ + stars: | 2023-10-30 | by ( Angelo Amante | ) www.reuters.com time to read: +2 min

Summary Italy suffers from chronic political instabilityCabinet seen discussing proposed reform on FridayBroad majority needed to avoid referendumROME, Oct 30 (Reuters) - Italian Prime Minister Giorgia Meloni and top ministers on Monday backed a constitutional reform proposal introducing the direct election of the prime minister, in an effort to end the country's chronic political instability. Meloni made constitutional reform a key policy plank of her right-wing coalition after winning power in September last year. Italy has had almost 70 governments since World War Two, more than twice the number in Britain and Germany. Matteo Renzi, who stepped down as premier after his failed reform in 2016, said his small centrist Italia Viva party would be ready to back the direct election of the prime minister. The prime minister need not necessarily be an elected politician.

Persons: Giorgia Meloni, Meloni, Maria Elisabetta Alberti Casellati, Benito Mussolini's, Matteo Renzi, Angelo Amante, Gavin Jones, Jonathan Oatis Organizations: Italian, Monday, Star Movement, Democratic Party, Italia Viva, Thomson Locations: Italy, ROME, Britain, Germany

☆ MFE retains domestic TV rights of Italian soccer cup
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 30 (Reuters) - Italy's top soccer league Serie A said on Monday it had awarded commercial broadcaster MFE-MediaForEurope <MFEB.MI> the domestic TV rights for the next three seasons of the Italian Cup competition. The deal also includes the right to screen the Italian Super Cup which has been revamped earlier this year as a four-team competition rather than being a match between the winners of Serie A and the Italian Cup. That brings the total value of the deal, which covers the three seasons until 2026-27, to around 168 million euros. The company, which is controlled by the family of late media tycoon Silvio Berlusconi, is the current holder of the Italian Cup and Super Cup domestic TV rights, under a three-year contract expiring in June and worth some 145 million euros. ($1 = 0.9415 euros)Reporting by Elvira Pollina, editing by Gavin Jones and Federico Maccioni and Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Silvio Berlusconi, Elvira Pollina, Gavin Jones, Federico Maccioni Organizations: MILAN, Serie, Reuters, Italian, Super, Sky Italia, Thomson Locations: Italy

☆ Births in Italy heading for new record low in 2023 - stats office
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

Rome, Italy, November 14, 2022. REUTERS/Remo Casilli/File Photo Acquire Licensing RightsROME, Oct 26 (Reuters) - Births in Italy are heading for a new record low this year, according to preliminary data that points to a deepening of the country's long-standing demographic crisis. Between January and June there were 3,500 fewer births than in the same period of 2022, the data from national statistics bureau ISTAT showed. In 2022 as a whole, births fell 1.7% to 393,000, a 14th consecutive drop and the lowest number since the country's unification in 1861. The rate is bolstered by immigrants, while among women of Italian nationality it stood at just 1.18 in 2022.

Persons: Leonardo, Viviana Valente, Remo Casilli, Giorgia, women's, Antonella Cinelli, Gavin Jones, John Stonestreet Organizations: Santo Spirito Hospital, UN, REUTERS, Rights, for Economic Cooperation, Development, ISTAT, Thomson Locations: Rome, Italy

☆ Italian PM's former partner loses TV show over sexist comments
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Andrea Giambruno, partner of Italy's new Prime Minister Giorgia Meloni, arrives at the Quirinale Presidential Palace for the swearing-in ceremony of Italy's new government, in Rome, Italy October 22, 2022. REUTERS/Yara Nardi/File Photo Acquire Licensing RightsROME, Oct 25 (Reuters) - /Andrea Giambruno, the former partner of Italian Prime Minister Giorgia Meloni, has been taken off a television talk show he had presented before Meloni left him following sexist comments he made to female co-workers. Audio excerpts also revealed him talking about being in an affair and telling colleagues they could work with him if they took part in group sex. MFE is owned by the heirs of the late Silvio Berlusconi, a former prime minister and Meloni ally. Reporting By Gavin Jones Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrea Giambruno, Giorgia Meloni, Yara, Meloni, Giambruno, Silvio Berlusconi, Gavin Jones, Bernadette Baum Organizations: REUTERS, Rights, Italian, Thomson Locations: Rome, Italy, Giambruno

It was seen on taking power as the country's most right-wing since wartime dictator Benito Mussolini, as Meloni's Brothers of Italy party traces its roots to the post-fascist Italian Social Movement (MSI). At home she pleased her rightist grassroots through measures to defend the traditional family, protect Italy's cultural heritage and try to stem migrant arrivals. That makes it harder for Meloni to keep her tax-cutting promises and makes Italy's debt, equal to 140% of national output, vulnerable to market sell-offs. Last week Meloni weathered the first of several reviews on Italy's debt when S&P Global Ratings confirmed the country's BBB rating with a stable outlook. COMMANDING POSITIONAt home Meloni has so far avoided the domestic political chaos that dogged so many of her predecessors.

Persons: Giorgia Meloni, Juan Medina, Meloni's, Meloni, Benito Mussolini, Valentina Meliciani, Andrea Giambruno, Meliciani, Italy's, Ukraine Meloni, Enzo Moavero Milanesi, Giovanni Orsina, Angelo Amante, Giselda, Gavin Jones, Alex Richardson Organizations: Italy's, REUTERS, Western, Coalition, Italian Social Movement, EU, Ukraine, Democratic Party, Star Movement, League, Forza Italia, Analysts, Thomson Locations: Granada, Spain, ROME, EU, Ukraine, Russia, Italy, Rome, Brussels, Africa

☆ Italy PM splits from partner after his sexist TV comments
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] Andrea Giambruno, partner of Italy's new Prime Minister Giorgia Meloni, arrives at the Quirinale Presidential Palace for the swearing-in ceremony of Italy's new government, in Rome, Italy October 22, 2022. REUTERS/Yara Nardi/File Photo Acquire Licensing RightsROME, Oct 20 (Reuters) - Italian Prime Minister Giorgia Meloni said on Friday she had separated from her television journalist partner Andrea Giambruno, who has drawn criticism in recent weeks for sexist comments made on and off air. "My relationship with Andrea Giambruno, which lasted almost 10 years, ends here," Meloni wrote on her social media accounts. The TV journalist had already been widely criticised in August for apparent victim-blaming comments following a gang rape case. Meloni had said after that episode that she should not be judged for comments made by her partner, and that in future she would not answer questions about his behaviour.

Persons: Andrea Giambruno, Giorgia Meloni, Yara, Meloni, Giambruno, Mediaset, Silvio Berlusconi, Alvise Armellini, Gavin Jones Organizations: REUTERS, Rights, Italian, Thomson Locations: Rome, Italy

ROME, Oct 20 (Reuters) - Italian Prime Minister Giorgia Meloni said on Friday she had separated from her television journalist partner Andrea Giambruno, who has drawn criticism in recent weeks for sexist comments. Meloni told reporters last month she should not be judged over Giambruno's remarks and in future would not answer questions about his behaviour. The split comes as the 46-year-old prime minister celebrates her first year in office at the head of a right-wing coalition government that has defended the traditional family as one of its policy hallmarks. "My relationship with Andrea Giambruno, which lasted almost 10 years, ends here," Meloni wrote on her social media accounts. The TV journalist had been widely criticised in August for comments interpreted by many as victim-blaming, following a gang rape case.

Persons: Giorgia Meloni, Andrea Giambruno, Meloni, Giambruno, Mediaset, Silvio Berlusconi, Marco Furfaro, Gavin Jones, Deborah Kyvrikosaios Organizations: Italian, Democratic Party, Thomson

☆ Italy picks UBS, Jefferies, Clifford Chance for MPS privatisation
▼ + stars: | 2023-10-20 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

People pass in front of a branch of Monte dei Paschi di Siena (MPS) bank in Siena, Italy, August 11 2021. REUTERS / Jennifer Lorenzini/File Photo Acquire Licensing RightsROME, Oct 20 (Reuters) - Italy's Treasury said on Friday it had picked UBS (UBSG.S) , Jefferies and Clifford Chance as financial and legal advisers for the privatisation of bailed-out bank Monte dei Paschi di Siena (MPS) (BMPS.MI). After a failed attempt to sell the Tuscan lender to larger peer UniCredit (CRDI.MI) in 2021, Italy agreed to Brussels' new privatisation terms that were never fully disclosed. However, Economy Minister Giancarlo Giorgetti said this week MPS could return to private hands by the end of next year. Both Giorgetti and Prime Minister Giorgia Meloni have said in recent months that the government would try to boost competition among Italy's banks with the privatisation of MPS.

Persons: Jennifer Lorenzini, Jefferies, Clifford Chance, Giancarlo Giorgetti, Giorgia Meloni, Gavin Jones, Richard Chang Organizations: REUTERS, Rights, Treasury, UBS, European Union, MPS, Banco, Reuters, Thomson Locations: Monte dei, Siena, Italy, Rome, Brussels

☆ 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

The budget bill will then go to parliament, which must pass it by the end of the year. Investors have been demanding a higher premium to hold Italian government bonds since Rome last month raised its budget deficit targets for the 2023-2025 period, setting it up for a possible clash with the European Commission. AGEING POPULATIONNext year people earning up to 28,000 euros per year will pay income tax (known as IRPEF) at 23%, according to the officials. Meloni also aims to earmark at least 1 billion euros for measures, which have yet to be detailed, aimed at addressing Italy's demographic crisis. The scheme could increase tax revenues in Italy by between 2 and 3 billion euros, one official said.

Persons: Giorgia, Giancarlo Giorgetti, DBRS, Fitch, Moody's, Meloni, Giuseppe Fonte, Keith Weir Organizations: Treasury, European Commission, P, Thomson Locations: ROME, Rome, Ukraine, Italy

☆ Italy not tied to any deadline to exit Monte Paschi, FinMin says
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

View of the entrance to the headquarters of Monte dei Paschi di Siena (MPS), the oldest bank in the world, which is facing massive layoffs as part of a planned corporate merger, in Siena, Italy, August 11, 2021. REUTERS/Jennifer Lorenzini/File Photo Acquire Licensing RightsMARRAKECH, Oct 13 (Reuters) - Italy will exit bailed-out bank Monte dei Paschi di Siena (MPS) (BMPS.MI) when market conditions are appropriate as it is not tied to any deadline, Economy Minister Giancarlo Giorgetti said on Friday. After a failed attempt to sell the bank to UniCredit (CRDI.MI) in 2021, Italy agreed with Brussels new privatisation terms that were never fully disclosed. Both Giorgetti and Prime Minister Giorgia Meloni have said that the government would try to boost competition among banks with the privatisation of MPS. ($1 = 0.9499 euros)Reporting by Elisa Martinuzzi, writing by Giuseppe Fonte, editing by Jane Merriman and Gavin JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Jennifer Lorenzini, Giancarlo Giorgetti, Giorgetti, Giorgia Meloni, Meloni, Elisa Martinuzzi, Giuseppe Fonte, Jane Merriman, Gavin Jones Organizations: Monte, REUTERS, Rights, European Union, World Bank, International Monetary Fund, MPS, Banco, Treasury, Thomson Locations: Monte dei, Siena, Italy, Rights MARRAKECH, Rome, UniCredit, Brussels, Marrakech

☆ Proxy adviser Glass Lewis backs Mediobanca outgoing board's slate for board renewal
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 13 (Reuters) - Proxy adviser Glass Lewis said on Friday it was recommending that investors in Italian bank Mediobanca (MDBI.MI) vote in favour of the outgoing board's slate of nominees for the new board. The board is elected for a three-year term, and the current one expires on Oct. 28, when Mediobanca shareholders will vote on its renewal, including the chief executive. Mediobanca's outgoing board has proposed 15 members, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro. On Wednesday, proxy adviser Institutional Shareholder Services (ISS) said it was recommending that Mediobanca investors vote in favour of the outgoing board's slate of nominees. Reporting by Gianluca Semeraro; editing by Gavin Jones and Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Glass Lewis, Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Gianluca Semeraro, Gavin Jones, Kirsten Donovan Organizations: MILAN, Services, Thomson Locations: Italian

☆ IMF's chief economist urges Italy to toughen budget plans -media
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Susana Vera/File photo Acquire Licensing RightsROME, Oct 12 (Reuters) - The International Monetary Fund wants Italy to make its 2024 budget framework more stringent, as tax cut plans made the Fund "a bit worried", its chief economist, Pierre-Olivier Gourinchas, said in a newspaper interview on Thursday. Gourinchas told the Corriere della Sera daily that Italy's structural deficit, net of interest spending, was not seen as falling fast enough. The IMF was "a bit worried" by planned tax cuts that "don't necessarily seem to go in the right direction", he added. It would be "desirable" if Prime Minister Giorgia Meloni's government revised its fiscal plans to make them more stringent before they are approved by parliament, he said. Over the next month Italy's budget faces scrutiny from credit ratings agencies, with S&P Global, DBRS, Fitch and Moody's all reviewing their assessment of the euro zone's third largest economy.

Persons: Pierre, Olivier Gourinchas, Susana Vera, Gourinchas, Giorgia, DBRS, Fitch, Moody's, Gavin Jones, Clarence Fernandez Organizations: Research Department IMF, Reuters, International Monetary Fund, World Bank, REUTERS, Rights, Monetary Fund, della Sera, IMF, P, Thomson Locations: Marrakech, Morocco, Italy, Rome

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