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☆ Italy arrests Sicilian Mafia boss Matteo Messina Denaro
▼ + stars: | 2023-01-16 | by ( ) www.cnbc.com time to read: +1 min

1 fugitive, convicted Mafia boss Matteo Messina Denaro, was arrested on Monday at a private clinic in Palermo, Sicily, after 30 years on the run, Italian paramilitary police said. Messina Denaro was captured at the clinic where he was receiving treatment for an undisclosed medical condition, said Carabinieri Gen. Pasquale Angelosanto, who heads the police force's special operations squad. Messina Denaro was taken to a secret location by police immediately after the arrest, Italian state television reported. Messina Denaro, who had a power base in the port city of Trapani, in western Sicily, was considered Sicily's Cosa Nostra top boss even while a fugitive. Messina Denaro, who tried in absentia and convicted of dozens of murders, faces multiple life sentences.

☆ Enel signs state-backed credit line worth 12 bln euros
▼ + stars: | 2022-12-23 | by ( Francesca Landini | ) www.reuters.com time to read: +2 min

MILAN, Dec 23 (Reuters) - Enel (ENEI.MI) and a pool of banks signed a 12 billion euro ($12.74 billion) credit facility to fund margin calls linked to the group's derivative trades, Italy's biggest utility said. The financing is 70% guaranteed by the Italian export credit agency SACE and has a term of about 18 months, Enel said on Friday. As anticipated by Reuters, the credit line is part of the Italian government's efforts to shield the country's utilities against volatility on energy markets. Other Italian utilities are expected to apply for the SACE guarantee scheme. Italy's second-biggest utility A2A (A2.MI) told Reuters on Tuesday it would tap the credit facility backed by the credit export agency in January.

☆ Factbox: FACTBOX European companies cut jobs as economy sputters
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Evgenia NovozheninaDec 7 (Reuters) - Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. * FINNAIR (FIA1S.HE): the Finnish airline will cut about 150 jobs, of which 90 are in its home country, as part of a plan to return to profitability. * MICHELIN (MICP.PA): the tyre maker plans to cut up to 1,600 jobs in France, fewer than the 2,300 estimated in its initial voluntary redundancy plan as it seeks to safeguard production. * HUSQVARNA (HUSQb.ST): the garden equipment and tools maker will cut 1,000 jobs, the vast majority of them related to the shift from petrol to battery-powered tools. * H&M (HMb.ST): the Swedish fashion giant, which employs roughly 155,000 people, will cut some 1,500 jobs as part of a 2 billion crown ($189.5 million) savings drive.

☆ Factbox: European companies cuts jobs as economy sputters
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +4 min

☆ Analysis: Investors face dilemma as capital increases fill IPO void
▼ + stars: | 2022-12-06 | by ( Pablo Mayo Cerqueiro | Oliver Hirt | ) www.reuters.com time to read: +4 min

"This is a test as to whether shareholders want to support a company they know well already," he said. In contrast with a drought of initial public offerings (IPO), EMEA companies have raised an overall 33.3 billion euros ($34.99 billion) through capital increases so far this year. Meanwhile, fund managers' cash holdings stand at a near 21-year peak, according to poll data from Bank of America. "However, the market could see more firms turn to shareholders for funding given the rising cost of debt and changing outlook," he added. ($1 = 0.9517 euros)Reporting by Pablo Mayo Cerqueiro and Oliver Hirt; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Gas crisis forces Italy's Ansaldo to raise $569 million in capital
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 29 (Reuters) - Italy's Ansaldo Energia, a state-controlled supplier of power generation equipment, on Tuesday said it would raise cash and push back debt maturities after warning in August that the Ukraine crisis had hit demand for gas power generation. Ansaldo Energia is 60% owned by Italian state investor CDP Equity with the remaining 40% in the hands of China's Shanghai Electric Group (601727.SS). The capital strengthening will amount in total to 550 million euros ($569 million). As part of it, CDP Equity will convert into equity a 200 million euro loan it had extended to Ansaldo as well as 50 million euros in overdue interest payments. Like rivals, the company also had to contend with higher costs for materials used in production, energy and gas prices.

☆ Italy govt officials to discuss plans for Telecom Italia on Tuesday
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

ROME, Nov 22 (Reuters) - Government officials will discuss plans for Telecom Italia (TIM) (TLIT.MI) later on Tuesday, Italy's economy minister said, responding to a question about the former phone monopoly's landline grid. Giorgetti was asked whether the new right-wing government backed Italian state lender CDP's plans to submit an offer for TIM's landline grid by the end of the month. CDP's multi-billion euro preliminary offer for TIM's landline grid is part of a plan to combine it with its broadband unit Open Fiber. The long awaited offer is expected to value TIM's landline grid and submarine cable unit Sparkle at between 15 and 18 billion euros including some 12 billion euros in debt, sources have previously said. Negotiations have been complicated by divergences on valuation, with TIM's top investor, French media conglomerate Vivendi (VIV.PA) demanding 31 billion euros to back a sale.

☆ The party's over for illegal raves, Italy's new government says
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

ROME, Oct 31 (Reuters) - Italy's new right-wing government signalled on Monday it would crack down on unlicensed rave parties, with organisers risking jail terms of up to six years for staging such events. Under proposals agreed by her government, those behind such parties could in future face between three and six years in jail, and would have the equipment used at the raves confiscated. "Happy Halloween to everyone, apart from those from half of Europe who came to cause chaos in Modena in Italy with an illegal rave party," said Matteo Salvini, leader of the League party on Twitter. The League is part of Meloni's coalition, which extends to her hard-right Brothers of Italy party and the mainstream conservative Forza Italia of ex-premier Silvio Berlusconi. ($1 = 1.0118 euros)Reporting by Angelo Amante; Writing by Keith Weir; Editing by Alvise Armellini and Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Italy OKs process to grant state guarantees for Enel credit facility - source
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Companies Enel SpA FollowMILAN, Oct 19 (Reuters) - Italy's Treasury has given a preliminary go-ahead to a request by utility Enel (ENEI.MI) to tap state guarantees for an up to 16 billion euro ($16 billion) credit facility provided by a pool of banks, a source with knowledge of the matter said. The preliminary green light from the ministry sets in motion a process that entails numerous approval steps and stretches over several weeks. Register now for FREE unlimited access to Reuters.com RegisterUnder the process, the boards of the banks in the pool will need to approve the credit facility. Italian state exports credit agency SACE will need to clear the guarantees which will then need a final green light from the ministry itself. Europe's biggest utility has asked to tap a state guarantee scheme Rome has designed to help domestic companies hit by surging energy prices.

☆ Italian state lender CDP readies offer for TIM's network after national vote
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/IllustrationMILAN, Sept 27 (Reuters) - Italian state lender CDP is readying a preliminary offer for Telecom Italia's landline grid, it said on Tuesday, as it presses ahead with plans to create a single broadband company with Open Fiber after a general election on Sunday. CDP is now expected to submit a non-binding offer in the first half of October, two sources familiar with the matter said, cautioning deliberations are ongoing. Register now for FREE unlimited access to Reuters.com RegisterTIM (TLIT.MI) and CDP reached a preliminary agreement in May aimed at creating a unified broadband champion merging TIM's assets with those of Open Fiber under CDP control. Under the preliminary agreement sealed in May, CDP and TIM aimed for a binding deal by the end of October.

☆ 'Tsunami'-like floodwaters kill at least 10 in Italy as people climb trees to find safety
▼ + stars: | 2022-09-16 | by ( Associated Press | ) www.nbcnews.com time to read: 1 min

Floodwaters triggered by heavy rainfall have swept through several towns in a hilly region of central Italy, leaving 10 people dead and at least four missing, authorities said. Dozens of survivors scrambled onto rooftops or up trees to await rescue. “It wasn’t a water bomb, it was a tsunami,” Riccardo Pasqualini, the mayor of Barbara, told Italian state radio of the sudden downpour on Thursday evening that devastated his town in the Marche region, near the Adriatic Sea. He said the flooding left the 1,300 residents of Barbara without drinking water and had impacted phone services. A mother and her young daughter were missing after trying to escape the floodwaters, the mayor told Italian news agency ANSA.

☆ The world's fastest trains -- from China to France
▼ + stars: | 2021-12-10 | by ( Ben Jones | ) edition.cnn.com time to read: +16 min

Chogo/Xinhua/Getty ImagesAs well as boasting the longest network of high-speed lines in the world, China now has the fastest scheduled trains on the planet. A statement of intent by China’s booming railway technology industry, the Fuxing trains have been developed from previous generations of high-speed trains, which were based on technology imported from Europe and Japan. The design also forms the basis of the Siemens “Velaro” family of high-speed trains, which has been sold to Spain, Russia, Turkey, China and to Eurostar for its second generation international trains. Europe’s first dedicated high-speed network is still its best known and most successful, reaching out well beyond France’s borders. Frecciarossa services operate across Italy’s T-shaped high-speed network, linking Turin, Milan and Venice in the north with Bologna, Florence, Rome and Naples.

Persons: Germany's, Philipp von Ditfurth, Thomas Coex, Europe’s, Kiyoshi Ota, Al Boraq, Morocco's Al Boraq, ‘ Al, Boraq, Oriol, Iryo, Frecciarossa, Ed Jones, Alessandro Rota, sandstorms don’t, HHR Organizations: CNN, Japan’s, Vitesse, Getty, Germany's Inter, City Express, Express, Siemens, Eurostar, Bloomberg, JR, Japan Railways, Tohoku, TGV Euroduplex, Alstom, Flickr, Images Spain, Alta Velocidad, Ouigo Espana, Italian State Railways, Alitalia, Arrows, Spanish National Railways, Railway, Haramain, Speed Railway Locations: Scandinavia, Europe, Asia, France, China, Spain, Germany, Italy, Belgium, England, Africa, Morocco, Egypt, South Korea, Saudi Arabia, Taiwan, India, Thailand, Russia, United States, Shanghai, Shanghai’s Pudong, Hangzhou, Chogo, Xinhua, Japan, Beijing, Hong Kong, Harbin, Cologne, Frankfurt, Paris, Amsterdam, Brussels, Turkey, AFP, Lyon, Marseille, Bordeaux, Nantes, Strasbourg, Lille, London, Switzerland, Tokyo, Shin, Aomori, Hokkaido, Honshu, Tsugaru Strait, Tangier, Casablanca, Kenitra, Rabat, Oriol Paris, Madrid, Seville, Malaga, Valencia, Galicia, Barcelona, Alta Velocidad Espana, Korea, South, Seoul, Busan, Gwangju, Mokpo, Pyeongchang, Turin, Milan, Venice, Bologna, Florence, Rome, Naples, Saudi, Bandar Aldandani, Mecca, Medina

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