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Enel, hitherto the world's biggest listed renewables developer, plans 35.8 billion euros ($39 billion) of gross capital expenditure in its plan to 2026, of which nearly 19 billion euros will help to modernise and make its networks more resilient. Shares in the state-controlled power group were down 0.4% at 1530 GMT paring a 1% initial loss on the Milan bourse and underperforming a nearly flat blue-chip index. Rising indebtedness was one of the reasons why the Italian government, which is the single biggest shareholder in Enel, decided to oust the group's previous CEO, Francesco Starace. New CEO Flavio Cattaneo pledged to spend only the cash generated by the business, without increasing the debt pile. The group will devote some 3 billion euros to actively manage its customer portfolio through bundled offers, which will include different commodities and services.

Persons: Antonio Parrinello, Enel, Francesco Starace, Flavio Cattaneo, Cattaneo, Stefano De Angelis, Starace, Francesca Landini, Giancarlo Navach, Keith Weir, Giulia Segreti, Elaine Hardcastle, Jonathan Oatis Organizations: REUTERS, Milan bourse, Thomson Locations: Catania, Italy, MILAN, Milan, Enel

☆ Berlusconi family holding adds two board seats as daughter Eleonora joins
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Eleonora Berlusconi, Barbara Berlusconi and Luigi Berlusconi react on the day of the state funeral of former Italian Prime Minister Silvio Berlusconi outside the Duomo Cathedral, in Milan, Italy June 14, 2023. The other new entry is lawyer Michele Carpinelli, an M&A expert and a long-time family adviser, the source added. In his will, Berlusconi, who died aged 86 in June, handed his eldest children, Marina and Pier Silvio, joint control of Fininvest through a combined, indirect 52% stake. Marina and Pier Silvio have been directly involved in running the family business for almost two decades. Pier Silvio, Barbara and Luigi have long been board members.

Persons: Eleonora Berlusconi, Barbara Berlusconi, Luigi Berlusconi, Silvio Berlusconi, Claudia Greco, Berlusconi, Michele Carpinelli, Silvio, Barbara, Eleonora, Luigi, Marina Berlusconi, Berlusconi's, Mediolanum, Elvira Pollina, Keith Weir, Valentina Za Organizations: Italian, Duomo Cathedral, REUTERS, Repubblica, Marina, Mondadori, Thomson Locations: Duomo, Milan, Italy

☆ Italy raises $1 bln as reduces Monte dei Paschi stake
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

NOVEMBER 2007 - MPS buys Antonveneta from Santander (SAN.MC) for 9 billion euros in cash, months after the Spanish bank paid 6.6 billion euros for it. JULY 2011 - MPS raises 2.15 billion euros in a rights issue ahead of European stress test results. JUNE 2014 - MPS raises 5 billion euros in a rights issue and repays the state 3.1 billion euros. JUNE 2015 - MPS raises 3 billion euros in cash after a 5.3 billion euro net loss for 2014 on record bad loan writedowns. It repays the remaining 1.1 billion euro state underwritten special bond.

Persons: Valentina Za, Keith Weir Organizations: MILAN, Monday, MPS, JPMorgan, Treasury, Bank of Italy, Antonveneta, Italy's, ECB, EU Commission, Thomson Locations: Italy, Siena, Santander, Europe

☆ 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

☆ Italians face disruption as workers strike over government budget
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Remo Casilli Acquire Licensing RightsROME, Nov 17 (Reuters) - Italians faced disruption on Friday as transport workers and other public sector employees from two of the country's largest unions went on strike in protest over the government's budget plans for 2024. The CGIL and UIL unions have called a general strike in the central regions of Italy, as well as a walkout by public sector employees across the country. Salvini, who is also transport minister, said he was making sure Italians could still go about their business on Friday. "Yes there is the right to strike, but it's satisfying to protect the right to work for the overwhelming majority of Italians," he told broadcaster Rai's TG2 news programme on Thursday. Striking workers are expected to hold a rally in Rome's central Piazza del Popolo to protest against Prime Minister Giorgia Meloni's right-wing government.

Persons: Giorgia Meloni, Remo Casilli, Matteo Salvini, Maurizio Landini, Salvini, Giorgia Meloni's, Italy's, Keith Weir, Sharon Singleton Organizations: Italian, CGIL, UIL, REUTERS, Rights, la Repubblica, TG2, Union, Thomson Locations: Piazza del, Rome, Italy, Rome's, Piazza

☆ Italy arrests six in crackdown on fentanyl smuggling from China to U.S.
▼ + stars: | 2023-11-15 | by ( Emilio Parodi | ) www.reuters.com time to read: +3 min

[1/2] An undated handout picture released by Guardia di Finanza shows banknotes that were seized as a part of an operation against fentanyl trafficking from China to U.S., in Piacenza, Italy. Guardia di Finanza Press Office/Handout via REUTERS Acquire Licensing RightsMILAN, Nov 15 (Reuters) - Italian police have arrested six people in a crackdown on a network that allegedly played go-between for fentanyl trafficking from China to the United States, Guardia di Finanza police and prosecutors in the northern city of Piacenza said on Wednesday. Washington is hoping to secure more cooperation from Beijing in combating production of the potent synthetic opioid fentanyl, a scourge in the United States, when President Joe Biden meets Chinese President Xi Jinping on Wednesday. Among those arrested in Italy is the alleged head of the network, a 51-year-old Italian man suspected of buying fentanyl from China over the past three years. He sold it on to buyers in the United States, and in one case in Mexico, the chief prosecutor said.

Persons: Grazia Pradella, Joe Biden, Xi Jinping, Emilio Parodi, Keith Weir Organizations: Guardia, Finanza, REUTERS Acquire, U.S . Drug Enforcement Administration, Reuters, U.S, U.S . Centers for Disease Control, Prevention, Police, Thomson Locations: China, U.S, Piacenza, Italy, United States, Guardia, Washington, Beijing, Mexico, Rome, Ukrainian, Switzerland, Eastern Europe, bitcoin

☆ The hidden woes of being in a relationship with a startup founder
▼ + stars: | 2023-11-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, a Business Insider reporter gives her unique perspective on navigating life as a startup founder's wife. The big storyA founder's other backerJosh Cochran for InsiderThe startup world is not for the faint of heart. Melia's account of her relationship with Kyle and his startup is equal parts entertaining, heartwrenching, and informative. AdvertisementJosh Cochran for InsiderAs if being a founder spouse wasn't difficult enough, Melia has the bonus of covering the space as a reporter. And while that's true of any relationship, it's especially pertinent in the volatile startup ecosystem.

Persons: —, Josh Cochran, it's, Insider's Melia Russell, Kyle, Melia, takeaways Melia, Lennihan, Alexander Spatari, Pete Weir, Weir, — it's, HENRY, Steve Irwin, Satya Nadella, Bolton Clarke, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Brandon Bell, Getty, Associated Press, Apple, Google, US, York City, Discovery Education, Australia, Microsoft, Cisco Locations: Brandon, York, New York City, San Diego, London, New York

☆ Focus: Giorgio Armani fashions his own legacy with succession plan
▼ + stars: | 2023-11-15 | by ( Elisa Anzolin | ) www.reuters.com time to read: +6 min

[1/5] Giorgio Armani appears at the Emporio Armani Spring/Summer 2024 collection fashion show during Milan Fashion Week in Milan, Italy, September 21, 2023. All are currently board members and, apart from Rosanna, all work for the Armani group. The Armani group has almost 9,000 employees. Any eventual stock market listing requires the favourable vote of the majority of directors "after the fifth year following the entry into force of this statute". The Armani group declined to comment on a potential listing in the mid-term.

Persons: Giorgio Armani, Claudia Greco, Armani, Pantaleo Dell'Orco, Guido Corbetta, Rosanna, Silvana, Roberta, Andrea Camerana, Dell'Orco, women's, Bernard Arnault, Sergio Galeotti, Hans Wilsdorf, Gucci, Corbetta, outlast, Elisa Anzolin, Keith Weir, Alexander Smith Organizations: Milan, REUTERS, Reuters, Milan's Bocconi University, Armani, Entertainment, VIP Relations, Rolex, Kering, Thomson Locations: Milan, Italy, MILAN

☆ Methodology for Analysis of the U.S. Health and Retirement Study
▼ + stars: | 2023-11-14 | by ( The New York Times | Kff Health News | ) www.nytimes.com time to read: +2 min

The Times/KFF Health News data analysis was based on the Health and Retirement Study, a nationally representative longitudinal survey of about 20,000 people over age 50. The analysis defined people ages 65 and above as likely to need long-term care if they were assessed to have dementia, or if they reported having difficulty with two or more out of six activities of daily living. The analysis’ definition of needing long-term care assistance is conservative and is in line with criteria most long-term care insurers use in determining whether they will pay for services. The analysis was developed in consultation with Norma Coe, an associate professor of medical ethics and health policy at the Perelman School of Medicine at the University of Pennsylvania. The financial toll on middle-class and upper-income people needing long-term care was examined by reviewing data that the H.R.S.

Persons: Norma Coe Organizations: KFF Health, Health, Perelman School of Medicine, University of Pennsylvania

☆ Discovery Education's chief product officer says AI can free up employees to focus on complex tasks — but warns against being 'a hammer looking for a nail'
▼ + stars: | 2023-11-14 | by ( Julia Hood | ) www.businessinsider.com time to read: +8 min

Pete Weir, the chief product officer at Discovery Education, says AI can make mundane tasks easier. This Q&A is part of the "CXO AI Playbook" series — straight talk from business leaders on how they're testing and using AI. "Our employees are looking for guardrails," said Pete Weir, Discovery Education's chief product officer. AdvertisementSo one of the most important things was a big zoom-out on how this is going to affect all of us. What advice do you have for a company that's just getting started on its own AI journey?

Persons: Pete Weir, —, It's, Discovery, Weir, ChatGPT, I've, we've, it's, — it's, We're Organizations: Discovery Education, Service

☆ Lion sleeps it off after Saturday stroll through Italian town
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

LADISPOLI, Italy, Nov 13 (Reuters) - A lion that escaped from an Italian circus has been taking well-deserved naps to recover from a Saturday night out in the seaside town of Ladispoli that sparked panic before authorities managed to recapture him. The adult lion, named "Kimba", escaped from the "Rony Roller" circus on Saturday afternoon and was on the loose for around seven hours before he was sedated with an aesthetic dart. Local authorities are investigating how the lion managed to get out of its metal enclosure. A lion that escaped from a circus near Rome is seen in front of a house before it was captured and sedated to be brought back to "Rony Roller" Circus, November 11, 2023. In a Facebook post on Monday, local mayor Alessandro Grando wrote that he would ask council experts to check if there were legal grounds to revoke the permits for the "Rony Roller" circus.

Persons: Rony Vassallo, Alessandro Grando, Giuseppe Altavilla, Cristiano Corvino, Roberto Mignucci, Oriana Boselli, Federico Maccioni, Keith Weir Organizations: carabinieri, Carabinieri Military Police, Handout, REUTERS Acquire, Reuters, Thomson Locations: LADISPOLI, Italy, Ladispoli, Rome, Ladipsoli

☆ Rare earth finds could help revive coal industry, says CEO who just made a discovery worth billions
▼ + stars: | 2023-11-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

To put that in perspective, the U.S. consumed about 10,000 tons of rare earth elements annually over the past decade. Rare earths are used in advanced military technology, electric vehicles and other applications. Potential boon Atkins told CNBC on Monday that it is logical to think rare earths could be sitting undiscovered elsewhere in the U.S. "This might be something that will kind of awaken the thought that there might be different uses for coal," Atkins said. Ramaco last month started developing the Brook Mine, the first new rare earth mine in the U.S. since Mountain Pass Rare Earth Mine opened in California in 1952.

Persons: Randall Atkins, Atkins, CNBC's, It's, Ramaco Organizations: Ramaco, International, CNBC, Energy Information Agency, Exports Locations: Ramaco Resources, Wyoming, United States, Sheridan, U.S, California, China, Hamilton, Washington, Europe, Moscow, Ukraine

☆ Intesa Sanpaolo gives clients more time to opt out of digital shift
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Intesa Sanpaolo bank logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsROME, Nov 13 (Reuters) - Italy's biggest bank Intesa Sanpaolo (ISP.MI) reopened the deadline for thousands of its customers to opt out of switching to its digital lender Isybank, a document showed, following protests from consumer associations and ruling lawmakers. The complaints prompted Italy's central bank as well as the antitrust authority to look into the way the lender was shifting the clients to the app-based unit. In a note sent to customers on Monday and seen by Reuters, the bank wrote that anyone wanting to remain with Intesa Sanpaolo had until the end of February to say so. The competition watchdog took aim at how Intesa informed account holders of the move, adding it had received more than 2,000 complaints.

Persons: Dado Ruvic, Intesa Sanpaolo, Intesa, Paolo, Letizia, Giorgia Meloni, Carlo Messina's, Giuseppe Fonte, Keith Weir Organizations: REUTERS, Rights, Reuters, Brothers, Thomson Locations: Italy

☆ Lion Sleeps It off After Saturday Stroll Through Italian Town
▼ + stars: | 2023-11-13 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

LADISPOLI, Italy (Reuters) - A lion that escaped from an Italian circus has been taking well-deserved naps to recover from a Saturday night out in the seaside town of Ladispoli that sparked panic before authorities managed to recapture him. The adult lion, named "Kimba", escaped from the "Rony Roller" circus on Saturday afternoon and was on the loose for around seven hours before he was sedated with an aesthetic dart. Footage and pictures, some taken by locals, went viral and showed the lion roaming around the town streets, skirting houses and fences, and standing in front of a carabinieri police car. Local authorities are investigating how the lion managed to get out of its metal enclosure. In a Facebook post on Monday, local mayor Alessandro Grando wrote that he would ask council experts to check if there were legal grounds to revoke the permits for the "Rony Roller" circus.

Persons: Rony Vassallo, Alessandro Grando, Giuseppe Altavilla, Cristiano Corvino, Roberto Mignucci, Oriana Boselli, Federico Maccioni, Keith Weir Organizations: carabinieri, Reuters Locations: LADISPOLI, Italy, Ladispoli, Ladipsoli

☆ A Wall Street banker bought a coal mine sight unseen that could contain $37 billion worth of rare earth minerals
▼ + stars: | 2023-11-10 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +4 min

Over a decade ago, a Wall Street banker bought a coal mine to sell coal. Turns out, the mine contains rare earth elements that could be worth tens of billions of dollars. AdvertisementAdvertisementIn 2011, Randall Atkins, a former Wall Street banker, bought a mine outside of Sheridan, Wyoming, sight unseen, The Wall Street Journal reported. In May, Ramaco announced that Atkins' Brook Mine contains one of the largest unconventional deposits of rare earth elements in the US. Early this year, the White House announced it plans to invest $32 million in domestic rare earth and other mineral projects.

Persons: —, Randall Atkins, Atkins, Ramaco, REE, REEs, David Becker, Patty Webber, They're, haven't, Shannon Anderson Organizations: Wall Street, Service, Street Journal, Casper Star, Tribune, DOE's National Energy Technology Laboratory, International, Inc, Resources, Reuters, Geological Survey, Wyoming Public, Defense Department, White House, Sheridan Press Locations: Sheridan , Wyoming, Atkins, Wyoming, China

☆ CNH launches $1 bln buyback, NYSE single listing plan effective from Jan 2
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

MILAN, Nov 7 (Reuters) - Farm and construction equipment maker CNH Industrial (CNHI.MI) said on Tuesday its plan to abandon the Milan stock market and retain a single listing for its shares on the New York Stock Exchange would be effective from Jan. 2 next year. The Italian-American group, whose shares are currently traded both on the NYSE and in Milan, earlier this year announced a plan to abandon its Italian listing. CNH said in a statement on Tuesday that the Milan Stock Exchange had approved an application it filed to delist its ordinary shares from Milan bourse and had set the Jan. 2 date for when a NYSE single listing will be effective. As part of its New York single-listing plan, CNH announced a new share buyback program worth up to $1 billion. Since it spun-off its truck and bus unit in January 2022, now separately listed as Iveco Group (IVG.MI), the majority of CNH stock trading has progressively shifted to NYSE, the company said.

Persons: CNH, Goldman Sachs, Giulio Piovaccari, Alvise Armellini, Keith Weir Organizations: MILAN, CNH, New York Stock Exchange, NYSE, Milan Stock Exchange, Milan bourse, Euronext Milan, Iveco Group, Milan, BNP, Thomson Locations: Milan, American, South America, York, Europe

☆ Pope skips reading speech because of a cold but continues schedule
▼ + stars: | 2023-11-06 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

[1/4] Pope Francis meets Everton Vieira Vargas, ambassador of Brazil to the EU at the Vatican, November 6, 2023. I greet you all and I welcome you and thank you for this visit, which greatly pleases me," he told a delegation from the Conference of European Rabbis. "Pope Francis has a bit of a cold and a long day of audiences," Vatican spokesman Matteo Bruni said in a statement. "He wanted to greet the European rabbis individually and so he gave them his written speech. In the past, Francis has not read prepared speeches at the last minute in order to preserve his strength.

Persons: Pope Francis, Everton Vieira Vargas, Francis, Matteo Bruni, " Bruni, Philip Pullella, Keith Weir, Hugh Lawson Organizations: Vatican, Handout, REUTERS Acquire, CITY, Conference, COP28, Thomson Locations: Brazil, Argentina, Dubai, Nations

☆ Five killed as floods hit Italy's Tuscany region
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

[1/5] An aerial view shows flooding following heavy rains in Prato, Tuscany, Italy November 3, 2023, in this screen grab taken from a handout video. However, Giani said the death toll had risen to five after rain swept away cars and forced people to evacuate the lower floors of buildings. The government was expected to declare a state of emergency which would allow the rapid release of help for Tuscany. The governor of Tuscany said there were challenging issues around two large rivers in the area, the Bisenzio, north of Florence, and the Ombrone, in the southern part of the region. Another person was missing in the northeastern Veneto region, the local governor was quoted as saying by Sky TG24.

Persons: Storm Ciaran, Eugenio Giani, Giani, Luigi D'Angelo, Giorgia Meloni, Sky, Ciaran, Giulia Segreti, Federico Maccioni, Keith Weir, Sonali Paul, Mark Heinrich Our Organizations: Fire Brigade, REUTERS Acquire, Rights, Civil, Sky, Thomson Locations: Prato , Tuscany, Italy, Rights FLORENCE, Italian, Tuscany, Europe, Florence, Pistoia, Rosignano, Montemurlo, Veneto, Northern Ireland, Britain, Belgium, Netherlands, France

Italian Prime Minister Giorgia Meloni reacts during a meeting of European heads of state or government in Granada, Spain October 6, 2023. REUTERS/Juan Medina/File Photo Acquire Licensing RightsROME, Nov 3 (Reuters) - Italian Prime Minister Giorgia Meloni said on Friday that her chief diplomatic adviser had resigned, carrying the can for a prank call fiasco that led to the release of unfiltered remarks on Ukraine and migration. "This matter was not handled well, we are all sorry, Ambassador (Francesco) Talo took responsibility for it," Meloni said, announcing that her aide had quit. Meloni's office confirmed on Wednesday that she had a phone conversation with a Russian comedian who successfully posed as a high-ranking African Union official. Reporting by Angelo Amante and Alvise Armellini, editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Persons: Giorgia Meloni, Juan Medina, Francesco, Talo, Meloni, Angela Merkel, Recep Tayyip Erdogan, Britain's Prince Harry, Angelo Amante, Alvise, Keith Weir Organizations: Italian, REUTERS, Rights, NATO, African Union, Kyiv, Democratic Party, Lexus, Thomson Locations: Granada, Spain, Ukraine, Israel, Afghanistan, Pakistan, Russian, Italy, Russia, Kremlin

☆ Italy Extends Border Controls With Slovenia Deeper Into November
▼ + stars: | 2023-11-02 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

ROME (Reuters) - Controls at the border between Italy and Slovenia will continue this month, Rome's parliament minister said on Thursday, and the government could decide to further extend their duration. Italy reinstated police checks at the border in its northeast as of Oct. 21 for an initial 10 days, suspending the free movement normally allowed within most of the European Union under the Schengen treaty. Last month, Italian Interior Minister Matteo Piantedosi said the border checks were likely to be extended into next year, citing the risk of terrorists among the migrants in transit on the Balkan route. Ciriani said 10 people had so far been arrested on charges of aiding and abetting illegal immigration as a result of the controls. (Reporting by Giuseppe Fonte; Writing by Angelo Amante; Editing by Keith Weir)

Persons: Luca Ciriani, Matteo Piantedosi, Ciriani, Giuseppe Fonte, Angelo Amante, Keith Weir Organizations: European Union, Hamas, Slovenian Locations: ROME, Italy, Slovenia, Israel, France, Belgium, Rome, Croatian, Italian

☆ Italy PM Meloni talks of Ukraine fatigue, migration in prank call
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Italian Prime Minister Giorgia Meloni reacts during a meeting of European heads of state or government in Granada, Spain October 6, 2023. REUTERS/Juan Medina/File Photo Acquire Licensing RightsROME, Nov 1 (Reuters) - Italian Prime Minister Giorgia Meloni spoke of international fatigue with the conflict in Ukraine and a lack of support for Italy in dealing with migration in a phone call with Russian pranksters. Asked about Russia's war in Ukraine, Meloni, speaking in English, said: "I see that there is a lot of fatigue, I have to say the truth, from all the sides. Prankster Lexus, or Alexei Stolyarov, said Meloni was at least someone who was willing to share her real opinions. Meloni, Italian prime minister for a year, split with her TV presenter partner last month after off-air video excerpts from his programme showed him using foul language and appearing to make advances to a female colleague.

Persons: Giorgia Meloni, Juan Medina, Vovan, Meloni's, Meloni, Lexus, Alexei Stolyarov, Alex Marrow, Federico Maccioni, Keith Weir, Mark Heinrich Our Organizations: Italian, REUTERS, Rights, Russian, Lexus, African Union Commission, United Nations General Assembly, Thomson Locations: Granada, Spain, Ukraine, Italy

☆ Michelangelo's 'secret room' in Florence to open for visitors
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

Artist Michelangelo's sculpture known as Vatican Pieta is displayed at Opera del Duomo Museum next to its other versions in Florence, Italy, February 23, 2022. Michelangelo's "secret room" is located inside the Museum of the Medici Chapels and contains charcoal sketches of human figures which have been attributed to the artist, who is said to have taken refuge there in 1530. Dal Poggetto believed the artist had taken refuge in the room after falling foul of Pope Clement VII. Small guided groups of four people will be able to visit the room from Nov. 15 for a maximum of 15 minutes. The room is accessed via a cramped and narrow stairway and the number of weekly visitors will be capped at 100 people.

Persons: Jennifer Lorenzini, Michelangelo, Paolo Dal Poggetto, Dal Poggetto, Pope Clement VII . Small, Silvia Ognibene, Keith Weir, Alvise Armellini, Jonathan Oatis Organizations: del Duomo Museum, REUTERS, Rights, Museum, Thomson Locations: Florence, Italy, Rights FLORENCE, Medici

☆ Italy to Raise Taxes for Flat Owners Doing Multiple Short-Term Rentals
▼ + stars: | 2023-10-28 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

ROME (Reuters) - Italy's government plans to hike taxes on short-term rentals by people letting out more than one flat, a draft of the 2024 budget seen by Reuters showed on Saturday. The move comes in the wake of criticism of Airbnb and other short-term rental platforms for contributing to a shortage of affordable housing for residents in the most popular tourist destinations. Italian legislation allows owners to rent out their apartments and pay a tax rate of 21% on earnings. Prime Minister Giorgia Meloni intends to raise that band to 26% "in the case of the short-term rental of more than one apartment in each tax period," the draft showed. However, the government has scaled back its initial plans as previous drafts reported by Reuters envisaged increased taxation also applying to short-term rentals of single apartments.

Persons: Giorgia Meloni, Meloni, Giuseppe Fonte, Keith Weir Organizations: Reuters Locations: ROME

☆ Italy to raise taxes for flat owners doing multiple short-term rentals
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +1 min

ROME, Oct 28 (Reuters) - Italy's government plans to hike taxes on short-term rentals by people letting out more than one flat, a draft of the 2024 budget seen by Reuters showed on Saturday. The move comes in the wake of criticism of Airbnb (ABNB.O) and other short-term rental platforms for contributing to a shortage of affordable housing for residents in the most popular tourist destinations. Italian legislation allows owners to rent out their apartments and pay a tax rate of 21% on earnings. Prime Minister Giorgia Meloni intends to raise that band to 26% "in the case of the short-term rental of more than one apartment in each tax period," the draft showed. However, the government has scaled back its initial plans as previous drafts reported by Reuters envisaged increased taxation also applying to short-term rentals of single apartments.

Persons: Giorgia Meloni, Meloni, Giuseppe Fonte, Keith Weir Organizations: Reuters, Thomson

☆ Mediobanca CEO and allies keep grip on bank after shareholder vote
▼ + stars: | 2023-10-28 | by ( Gianluca Semeraro | ) www.reuters.com time to read: +3 min

Mediobanca CEO Alberto Nagel poses for a photograph in the occasion of a news conference to present Mediobanca's new business plan in Milan, Italy, November 12, 2019. Under Nagel, Mediobanca has moved away from its historic role as a financial holding company and boosted its wealth management and consumer credit operations, also through acquisitions. But his strategy had come in for criticism, initially from the late Leonardo Del Vecchio, whose holding company Delfin has a 19.7% stake in Mediobanca. The Delfin list took 32% of the total capital in the vote. A small group of institutional investors who had filed a third list took the remaining seat.

Persons: Alberto Nagel, Flavio Lo Scalzo, Delfin, Nagel, Pagliaro, Mediobanca, Leonardo Del Vecchio, Renato Pagliaro, Del Vecchio's, Francesco Milleri, Delfin's, Gianluca Semeraro, Keith Weir Organizations: REUTERS, Companies, MILAN, Thomson Locations: Milan, Italy, Mediobanca, Generali

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