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The Treasury will issue new economic targets on Wednesday providing the framework for a budget in which Meloni will attempt to keep her tax-cutting promises while also lowering the fiscal deficit. "This budget is Meloni's first real economic test since she came to power last October," said Tim Jones, euro zone analyst for market consultancy firm Medley Advisors. Meloni has much less room for manoeuvre than when she hiked deficit targets in her first budget a year ago. Episodes targeting airlines and investors in Italy's 307- billion-euro ($326.74 billion) bad loan market have followed a similar pattern. Meloni subsequently said no measures were planned regarding non-performing loans, but her party's proposal is still before parliament and uncertainty persists.

Persons: Giorgia Meloni, Meloni, Tim Jones, she's, Morgan Stanley, Reuters.G Rome, Roberto Perotti, Meloni's, Valentina Za, Francesco Canepa, Giuseppe Fonte, Sara Rossi, Gianluca Semeraro, Ed Osmond, Giselda Organizations: Treasury, Advisors, European Central Bank, Reuters, Ryanair, Milan's, Bank of, ECB, Thomson Locations: ROME, Italy, Greece, Rome, Italian, Italy's, Brussels, EU, Milan

☆ Italy to raise 2024 deficit goal to 4.1%-4.3% of GDP, sources say
▼ + stars: | 2023-09-25 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

ROME, Sept 25 (Reuters) - Italy's government plans to raise its 2024 budget deficit target to between 4.1% and 4.3% of gross domestic product (GDP), up from the 3.7% goal set in April, sources familiar with the matter told Reuters on Monday. The fiscal gap next year is, however, seen below 4% of GDP under current trends. That allows leeway worth several billion euros which will help Prime Minister Giorgia Meloni to fund measures in the upcoming 2024 budget. Italy is also preparing to raise this year's budget deficit above the current target of 4.5% of GDP due to the growing impact of costly fiscal incentives for home improvements. Separate sources last week said the updated 2023 goal would be in the region of 5.5% as a proportion of GDP.

Persons: Giorgia Meloni, Meloni, Chris Reese, Mark Potter Organizations: Reuters, European Central Bank, Treasury, Thomson Locations: Italy

CNN —A Mafia boss who spent nearly three decades evading law enforcement before he was arrested in January has died while receiving medical treatment, according to Italian media reports. Crime was a family affair for Messina Denaro, born to a known Mafia boss in Sicily on April 26, 1962. Among those arrested in the 2009-2010 crackdown was his brother, Salvatore Messina Denaro, who refused to testify about his whereabouts. In 2013, his sister, Patrizia Messina Denaro, was sentenced to 14 years in prison, a term she is still serving, for being a member of the Mafia. Felia Allum, professor of comparative organized crime and corruption at the UK’s University of Bath, said in January that Messina Denaro was the last of an old generation of Mafia bosses.

Persons: CNN —, Matteo Messina Denaro, San Salvatore, Rai, Maurizio de Lucia, Messina Denaro, Giovanni Falcone, Paolo Borsellino, Falcone, Borsellino, Giuseppe Di Matteo, Maddalena, Bernardo Provenzano, Salvatore Messina Denaro, Patrizia Messina Denaro, Felia Allum, ” Organizations: CNN, Cosa Nostra, San, Sicilian Mafia, Cosa, Mafia, UK’s University of Bath Locations: L’Aquila, Italy, Palermo, Europe, Milan, Florence, Rome, Messina, €, Corleone, Sicily, Cosa

☆ Jailed Italian Mafia boss Messina Denaro dies: ANSA
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +4 min

[1/2] A screengrab taken from a video shows Matteo Messina Denaro the country's most wanted mafia boss being escorted out of a Carabinieri police station after he was arrested in Palermo, Italy, January 16, 2023. Carabinieri/Handout via REUTERS/File Photo Acquire Licensing RightsROME, Sept 25 (Reuters) - Italian Mafia boss Matteo Messina Denaro, who was arrested in January after spending 30 years on the run, has died, ANSA news agency reported on Monday. Messina Denaro, 61, was suffering from cancer at the time of his arrest. The son of a mafioso, Messina Denaro was born in the southwestern Sicilian town of Castelvetrano in 1962. Despite his notoriety, prosecutors have always doubted that Messina Denaro became the Mafia "boss of bosses", saying it was more likely that he was simply the head of Cosa Nostra in western Sicily.

Persons: Matteo Messina Denaro, Messina Denaro, Denaro, ANSA, Giovanni Falcone, Paolo Borsellino, Giuseppe Di Matteo, Salvatore, Riina, turncoats, Crispian Balmer, Kanjyik Ghosh, Kim Coghill, Gerry Doyle Organizations: Carabinieri, REUTERS, Rights, Mafia, La Repubblica, Messina, Police, Cosa Nostra, Thomson Locations: Palermo, Italy, Rome, Florence, Milan, Messina, Sicilian, Castelvetrano, Sicily, Campobello

ROME, Sept 23 (Reuters) - Italy plans to revisit its contested windfall tax on banks by giving lenders the option to boost their reserve buffers instead of paying the levy, a draft amendment seen by Reuters showed on Saturday. Bank shares tumbled before the economy ministry clarified that it would not collect more than 0.1% of lenders' total assets. More importantly, instead of paying the tax, banks can boost their non-distributable reserves by earmarking an amount equivalent to two and a half times the levy. Such an option is expected to exempt cooperative banks from the tax, as they usually put aside a large part of their profits as reserves. In the current version, the tax would apply if NIM grows by 5% in 2022 and 10% in 2023 from 2021 levels.

Persons: Giorgia Meloni, NIM, Jan Harvey Organizations: Reuters, European Central Bank, Bank, Treasury, Thomson Locations: Italy, Rome, Frankfurt

☆ Italy sees 2023 budget deficit overshoot at around 5.5% of GDP, sources say
▼ + stars: | 2023-09-22 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

Italian Prime Minister Giorgia Meloni reacts at a news conference for her government's first budget in Rome, Italy November 22, 2022. REUTERS/Remo Casilli/File Photo Acquire Licensing RightsROME, Sept 22 (Reuters) - Italy sees its 2023 budget deficit overshooting at around 5.5% of gross domestic product (GDP) from the current 4.5% target, sources told Reuters, pushed up by high interest rates and accounting adjustments regarding costly tax credits. The 3.7% target currently established for next year's fiscal gap is also set to be revised upwards, two sources close to the matter said. However, national statistics bureau ISTAT said any revisions to GDP data for the first and second quarter of this year are likely to be no more than marginal. Italy will unveil its new economic projections next week in the Treasury's annual Economic and Financial Document (DEF).

Persons: Giorgia Meloni, Remo Casilli, Giorgia, Gavin Jones, Toby Chopra Organizations: Italian, REUTERS, Rights, Reuters, Eurostat, Treasury, ISTAT, Thomson Locations: Rome, Italy

☆ Italy has no buyers for Monte dei Paschi, eyes small share sales instead of exit, sources say
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

General view of a branch of Monte dei Paschi di Siena (MPS), the oldest bank in the world, which is facing massive layoffs as part of a planned business merger, in Siena, Italy, August 11 2021. Reuters was first in May to report the Treasury was open to selling down its Monte dei Paschi (MPS) stake on the market if conditions were right. Though the Treasury is considering cutting its stake with share placements, it would retain majority ownership, one of the sources said. Bankers said the capital raise has made any deal more expensive for any buyer, complicating the prospect for a merger. Reporting by Giuseppe Fonte in Roma and Valentina Za in Milan; editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

Persons: Jennifer Lorenzini, Rome, Luigi Lovaglio, Lovaglio, Giuseppe Fonte, Valentina Za, Alvise Organizations: REUTERS, European, Reuters, Treasury, EU, MPS, Banco, Bankers, Thomson Locations: Monte dei, Siena, Italy, Roma, Milan

Biden in May rolled out a new policy to deter illegal crossings, including deporting migrants and banning re-entry for five years, as his administration grappled with migration at record highs. He praised Biden for creating legal pathways for migrants but said they needed to be expanded. Hundreds of migrants who crossed without appointments have been forced to wait between two border walls. Within the last eight days, U.S. Customs and Border Protection (CBP) had processed more than 5,000 migrants in the San Diego area, a San Diego official said on Thursday. An unprecedented number of migrants entering Mexico hail from othercontinents, as the trek to the U.S. southern border increasingly becomes a global migration route.

Persons: Jose Luis Gonzalez, Joe Biden, Biden, Andrew Selee, Andres Manuel Lopez Obrador, Oscar Suarez, Suarez, Enrique Lucero, Giuseppe Loprete, don't, Lopez Obrador, Lizbeth Diaz, Laura Gottesdiener, Beth Solomon, Adrees Latif, Mike Blake, Ted Hesson, Rosalba O'Brien Organizations: U.S, REUTERS, Rights, Migration Policy Institute, Tijuana, U.S . Customs, Border Protection, San Diego, CBP, Migrants, Pacific, International Organization for Migration, IOM, Thomson Locations: United States, Rio Bravo, Mexico, Ciudad Juarez, California, Texas, Mexican, San Diego , California, El Paso, Central, South America, San Diego, Tijuana, U.S, Grande, Eagle, Panama, Darien, othercontinents, Monterrey, Mexico City, Washington

REUTERS/Yara Nardi/File Photo Acquire Licensing RightsMILAN, Sept 20 (Reuters) - U.S. fund KKR and Italy's Treasury are set to ask Telecom Italia (TIM) for more time to arrange a joint bid for its landline grid, three sources close to the matter said. KKR (KKR.N) last month won the backing of Prime Minister Giorgia Meloni's government, which authorised the Treasury to join its bid for an asset deemed of strategic national interest. The U.S. fund's preliminary bid valued the business -- dubbed NetCo -- at around 23 billion euros ($25 billion) including debt and taking into account a number of variables. The French group, which owns 24% of TIM, has so far shown little appetite for a deal under KKR's terms. The Treasury is evaluating the request, one of these people said, without adding further details.

Persons: Yara, Giorgia, Arnaud de Puyfontaine, Giancarlo Giorgetti, Elvira Pollina, Giuseppe Fonte, Alvise Armellini, Alexander Smith Organizations: REUTERS, KKR, Italy's Treasury, Telecom Italia, Treasury, TIM, NetCo, Reuters, Vivendi, Thomson Locations: Rome, Italy, U.S

☆ Berlusconi's daughter criticises Meloni over bank windfall tax
▼ + stars: | 2023-09-15 | by ( Angelo Amante | ) www.reuters.com time to read: +2 min

Marina Berlusconi and Luigi Berlusconi attend the funeral of former Italian Prime Minister Silvio Berlusconi at the Duomo Cathedral, in Milan, Italy June 14, 2023. REUTERS/Yara Nardi/File photo Acquire Licensing RightsROME, Sept 15 (Reuters) - Marina Berlusconi, the daughter of former Prime Minister Silvio Berlusconi, on Friday criticised Italy's windfall tax on banks, underlining divisions over the issue in the coalition government that includes her late father's party. Prime Minister Giorgia Meloni has taken personal responsibility for the measure, which targets extra profits made by banks from higher interest rates. "Who determines when a profit is extra and when it is normal?," Marina Berlusconi said to reporters after the assembly of influential Italian business lobby Confindustria. Meloni has said she was open to some modifications, provided the targeted tax take remained unchanged at "just under" 3 billion euros ($3.2 billion).

Persons: Marina Berlusconi, Luigi Berlusconi, Silvio Berlusconi, Yara, Giorgia Meloni, Pier Silvio, Meloni, Berlusconi, Fininvest, Mediolanum, Antonio Tajani, Elvira Pollina, Giuseppe Fonte, Keith Weir Organizations: Italian, Cathedral, REUTERS, Rights, Forza Italia, Thomson Locations: Milan, Italy

PARIS, Sept 14 (Reuters) - Belgium said on Thursday it would review the potential health risks linked to Apple's iPhone 12, becoming the latest European country to react after France ordered a halt to sales citing breaches of radiation exposure limits. Apple on Wednesday said the iPhone 12, launched in 2020, was certified by multiple international bodies as compliant with radiation standards and that it was contesting France's findings. But Paris' move to halt iPhone 12 sales until Apple fixes the radiation issues detected in two tests raised the prospect of further bans in Europe. Researchers have conducted a vast number of studies over the last two decades to assess health risks resulting from mobile phones. According to the World Health Organisation, no adverse health effects have been established as being caused by mobile phone use.

Persons: Mathieu Michel, digitalisation, Michel, Marine Strauss, Tassilo Hummel, Giuseppe Fonte, Ingrid Melander, Mark Potter Organizations: Apple, World Health, Reuters, Thomson Locations: Belgium, France, Paris, Europe, Belgium's, U.S, Brussels, Rome

☆ Italy poised to shake up Treasury with new unit for state-run firms
▼ + stars: | 2023-09-14 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

The audit court on Thursday approved the decree needed to set up the unit, the sources said, despite making critical observations about some aspects of it. Giorgetti has approached former banker Marcello Sala, currently director for investor relations at the Treasury, to lead the department, they added. Under the reorganisation plan, the influential Treasury department within the ministry led by veteran economist Riccardo Barbieri would be split into two units. The Treasury will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. ($1 = 0.9323 euros)Additional reporting by Valentina Za in Milan Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Sala, Giancarlo Giorgetti, Giorgetti, Marcello Sala, Antonino Turicchi, Dario Scannapieco, Riccardo Barbieri, Valentina Za, Christina Fincher Organizations: Treasury, Economy, ITA Airways, Department, Thomson Locations: ROME, Italy, Siena, Milan

☆ Danelo Cavalcante: Manhunt for escaped Pennsylvania killer draws hundreds of officers to small township where he stole a rifle
▼ + stars: | 2023-09-13 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +7 min

Stealing the rifle was a ‘crime of opportunity’Officers gather as the search for escaped convict Danelo Cavalcante continues Tuesday in Pottstown. Matt Rourke/APThe dayslong manhunt saw one of its most dramatic nights Monday in South Coventry Township, where Cavalcante was still believed to be Tuesday. The search perimeter was expanded to include that area and tactical teams from multiple agencies, helicopters, canine units and mounted patrols converged on the area to search for Cavalcante. Officers enter the woods amid the search for Danelo Cavalcante in Pottstown Tuesday. In addition, Cavalcante is also wanted in a 2017 homicide case in Brazil, a US Marshals Service official has said.

Persons: Danelo Cavalcante, George Bivens, Bivens, “, Cavalcante, –, ” Bivens, Owen J, Giuseppe Gatto, we’re, ” Gatto, Emma de Long, WPVI, ” de Long, Deborah Brandão, he’s, Josh Shapiro, you’d, ”, Matt Rourke, Danelo, John Moriarty, they’ve, ” Moriarty, Brandão Organizations: CNN, Pennsylvania, Police, Pennsylvania State Police, FBI, ATF, US, South Coventry Township, Roberts School District, WPVI, Border Patrol, Team, US Marshals Service Locations: Pennsylvania, Chester County’s, Coventry Township, South Coventry Township, South Coventry, Chester, Philadelphia, Chester County, Pottstown, Pottstown Tuesday, Texas, Virginia, Mexico, Brazil

☆ Italy's new bank tax should count as cost, ABI banking lobby
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: 1 min

MILAN, Sept 12 (Reuters) - Italian banks should be able to deduct from their overall tax bill the one-off tax on income deriving from higher interest rates which the government plans to introduce, industry lobby ABI said on Tuesday. In comments prepared for a parliamentary hearing, ABI also said that the impact of lenders' government bond holdings on their income and capital should also be excluded from the tax. ABI warned the tax risked violating principles set by Italy's constitutional law. It added the sector faced challenges such as a rising cost of funding and a possible increase in unpaid loans driven by the higher rates. Reporting by Valentina Za and Giuseppe Fonte; editign Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

Persons: Valentina Za, Giuseppe Fonte, editign Federico Maccioni Organizations: ABI, Thomson

☆ Is Måneskin the Last Rock Band?
▼ + stars: | 2023-09-12 | by ( Dan Brooks | ) www.nytimes.com time to read: +4 min

The other way Måneskin is isolated from the PNRC is geographic. Over the course of lunch, it became clear that they had encyclopedic knowledge of certain eras in American rock history but were only dimly aware of others. But none of them had ever heard of Fugazi, the post-hardcore band whose hatred of major labels, refusal to sell merchandise and commitment to keeping ticket prices as low as possible set the standard for a generation of American rock snobs. It picks up again with Franz Ferdinand and the “emo” era of mainstream pop rock. While snobs like Larson and me are overrepresented in journalism, we never constituted a majority of rock fans.

Persons: ” De Angelis, Motley Crüe, Fugazi, Franz Ferdinand, Larson, Giuseppe Meazza —, San Siro, Tamara, ” Locations: Los Angeles, Europe, Milan, San, Italy, American

☆ US Caver Who Was Trapped 1,000 Metres Deep in Turkey May Be Rescued by Tuesday
▼ + stars: | 2023-09-11 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

ANKARA (Reuters) - An American caver who had become trapped more than 1,000 metres (3,300 ft) underground in southern Turkey has been moved closer to the surface and is expected to be rescued by Tuesday morning, rescuers said. Previous footage from the operation showed Dickey lying inside the cave and receiving treatment by a medical team. It is a very particular phase of the cave here because there are so many slopes it is a bit tricky," Giuseppe Conti, European Cave Rescue Association technical commission chairperson, told reporters. More than 150 rescuers from Turkey and other countries have been working for days to rescue him from the country's third deepest cave. "The rescue operation will continue from the -180 meters after Mark has rested at the camp here for a while.

Persons: Mark Dickey, Tulga Sener, Dickey, Sener, Mark, Giuseppe Conti, Conti, Ali Kucukgocmen, Aurora Ellis Organizations: Cave Rescue, Rescue Association, Speleological Federation of, Ece Locations: ANKARA, American, Turkey, Mersin, Cave, Speleological Federation of Turkey

☆ US caver who became trapped 1,000 metres deep in Turkey is moved halfway to surface
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Umit Bektas Acquire Licensing RightsMERSIN, Turkey, Sept 10 (Reuters) - Rescuers raced on Sunday to rescue an American caver who had become trapped more than 1,000 metres (3,300 ft) underground in southern Turkey, moving him halfway to the surface. More than 150 rescuers from Turkey and other countries have been working for days to rescue him from the country's third deepest cave. "Our medical team is working really hard to try to keep Mark's condition as stable as possible. Since yesterday, we started lifting the stretcher and transporting him through the cave," Giuseppe Conti, European Cave Rescue Association technical commission chairperson, told reporters. Mark's medical condition right now is very good," said Tulga Sener, medical coordinator for the cave rescue commission.

Persons: caver Mark Dickey, Umit, Mark Dickey, Giuseppe Conti, Mark, Jessica Van Ord, Tulga Sener, Cenk, Dickey, Ali Kucukgocmen, Huseyin Hayatsever, Giles Elgood Organizations: REUTERS, Rights, Rescue Association, Bulent Usta, Thomson Locations: Anamur, Mersin province, Turkey, Rights MERSIN, American, Mersin, Cenk Yildiz

☆ Italian PM: Strong partnership with China more important than BRI
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +2 min

Italian media reported earlier in the day that Italy would quit the BRI and instead seek to revitalise a strategic partnership agreement with China, aimed at fostering economic cooperation, that it first signed in 2004. Meloni met Chinese Premier Li Qiang on Saturday on the G20 sidelines and described the talks as polite and constructive. The Italian government has also been invited to a BRI Forum that China will host in October, she added. Italian politicians have questioned the value of the BRI agreement signed by a previous administration in 2019. In its statement on Saturday, Meloni's office mentioned the 20th anniversary next year of a separate Global Strategic Partnership signed by China and a government led by Silvio Berlusconi in 2004.

Persons: Giorgia Meloni, haven't, Meloni, Li Qiang, Silvio Berlusconi, Keith Weir, Giuseppe Fonte, Mark Heinrich Our Organizations: Initiative, Strategic Partnership, Thomson Locations: China, Italy, West, Beijing, New Delhi

☆ Italian PM: Strong Partnership With China More Important Than BRI
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

Persons: Giorgia Meloni, haven't, Meloni, Li Qiang, Silvio Berlusconi, Keith Weir, Giuseppe Fonte, Mark Heinrich Organizations: Initiative, Strategic Partnership Locations: ROME, China, Italy, West, Beijing, New Delhi

The "Made in Italy" fund, which was approved in May, will have an initial endowment of 700 million euros ($756 million) in 2023 and an additional 300 million next year in state cash. Saudi Arabia will focus on energy, sustainability, supply chains and sport to expand its presence in Italy, Investment Minister Khalid al-Falih said at the same event. Italian exports to Saudi Arabia totalled just over 4 billion euros in 2022, much from manufacturing, while imports totalled more than 7.4 billion euros, the bulk from oil products. Also at the Milan event, leading Italian energy company Eni (ENI.MI) and Saudi Acwa Power (2082.SE) agreed to jointly develop a green hydrogen project in the Middle East and Africa. Saudi Arabia has a well advanced project dubbed NEOM to produce green hydrogen at home while Italy so far has not developed yet any plan to produce it in significant quantity.

Persons: Adolfo Urso, Giorgia Meloni, Meloni, shrugging, Urso, Khalid al, Falih, Power, De Nora, Giuseppe Fonte, Keith Weir, Angus MacSwan, Alexander Smith Organizations: Energy, Italy's Industry, Reuters, Italy's, Investment, European Union, EU, Saudi, Eni, Saudi Acwa, Thomson Locations: Italy, MILAN, Saudi Arabia, Saudi, Rome, Riyadh, Milan, Kingdom, Meloni, East, North Africa, Russia, Africa

☆ Italy sees 2023 deficit above target due to home incentives, sources say
▼ + stars: | 2023-09-04 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

ROME, Sept 4 (Reuters) - Italy is preparing to raise its 2023 budget deficit above the target of 4.5% of gross domestic product (GDP) set in April due to the impact of costly fiscal incentives for home improvements, two sources close to the matter told Reuters on Monday. The impact on 2024 budget is still to be assessed and the government could take action again to prevent further deviations from targets, the sources added. He described the Superbonus as a banquet where everyone had a meal and the state was left with the bill. Italy had already hinted in July that it was studying changes to these tax incentives as part of talks with European Union authorities to revamp the country's post-COVID national recovery Plan. The government will update a raft of economic projections by Sept. 27 through the Treasury's Document of economy and finance (DEF).

Persons: Giancarlo Giorgetti, Giorgetti, Lincoln Organizations: Reuters, European Union, Thomson Locations: Italy

Italian Economy Minister Giancarlo Giorgetti gestures during a confidence vote over the 2023 budget at the lower house of the parliament, in Rome, Italy December 23, 2022. "The government plans to maintain the forecasts of 1% in 2023, but inevitable external variables are radically changing the picture," Giorgetti said, speaking at The European House-Ambrosetti economic forum. The total cost of the so-called Superbonus originally introduced in 2020 is approaching 100 billion euros ($107.73 billion), the source added. With interest rate hikes by the European Central Bank to curb inflation dampening economic activity, Rome's growth target of 1.5% next year is increasingly at risk, economists say. As Italy is preparing a difficult 2024 budget, Giorgetti reiterated the commitment to keeping the deficit on a downward trend, leaving little leeway for stimulus.

Persons: Giancarlo Giorgetti, Remo Casilli, Giorgetti, Giuseppe Fonte, Giancarlo Navach, Giselda Vagnoni, Susan Fenton Organizations: REUTERS, European Central Bank, European Union, Thomson Locations: Rome, Italy, CERNOBBIO, Cernobbio, Ukraine

☆ Italy set to take over Telecom Italia's submarine cable unit -draft
▼ + stars: | 2023-08-29 | 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/Illustration/File Photo Acquire Licensing RightsMILAN, Aug 29 (Reuters) - Italy's Treasury can take full ownership of Telecom Italia's (TIM) (TLIT.MI) submarine cable unit Sparkle as part of an agreement with U.S. fund KKR (KKR.N) to jointly bid for the group's landline grid, a draft government decree showed on Tuesday. The cabinet on Monday approved two decrees providing for the Treasury to take a 15-20% stake in NetCo, a venture comprising both TIM's domestic fixed-access network and submarine cable unit Sparkle. It was valued at up to 1.2 billion euros in KKR's preliminary bid for NetCo, sources have said. The Treasury stake in Telecom Italia's grid would have the same property rights assigned to other shares, one of the decrees indicated.

Persons: Dado Ruvic, TIM's, Elvira Pollina, Giuseppe Fonte, Alvise Armellini, Jason Neely Organizations: Telecom Italia, REUTERS, Treasury, Telecom Italia's, U.S, KKR, Reuters, Telecom, Thomson Locations: NetCo, TIM's Milan

☆ Italy to propose ex-minister Franco for ECB board, source says
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +2 min

Italy's Economy Minister Daniele Franco addresses a news conference after the G7 Summit in Koenigswinter, near Bonn, Germany May 20, 2022. REUTERS/Benjamin Westhoff/File photo Acquire Licensing RightsROME, Aug 20 (Reuters) - Italy will put forward former economy minister Daniele Franco as its candidate for the executive board of the European Central Bank (ECB), a source close to the matter said on Sunday. He was appointed economy minister in 2021 in Mario Draghi's unity government, helping Italy navigate the COVID-19 crisis and the turbulence caused by Russia's invasion of Ukraine. However, in a surprise move, Economy Minister Giancarlo Giorgetti decided instead to propose his predecessor, a source close to the matter told Reuters, confirming a report in Il Sole 24 Ore newspaper. The government had initially put Franco forward as the Italian candidate to lead the European Union's lending arm, the European Investment Bank (EIB).

Persons: Daniele Franco, Benjamin Westhoff, Fabio Panetta, Franco, Mario Draghi's, Piero Cipollone, Giancarlo Giorgetti, Giorgia Meloni, Crispian Balmer, Giuseppe Fonte, Christina Fincher, David Holmes Organizations: REUTERS, Rights, European Central Bank, ECB, Bank of Italy, European Investment Bank, Reuters, Thomson Locations: Koenigswinter, Bonn, Germany, Italy, Ukraine, France, Rome, Italian, Franco

☆ ‘And Just Like That …’ Episode 9 Fashion: Dressing for the Apartment You Want
▼ + stars: | 2023-08-10 | by ( The Styles Desk | ) www.nytimes.com time to read: +1 min

This article contains spoilers for Episode 9 of the second season of “And Just Like That …”Colorful, overflowing closets are familiar backdrops for “And Just Like That …,” but in the new episode, Carrie and her friends leverage the full power of the clothes inside. The protagonists seem to dress intentionally, as if they are aware of what they can say with a pinstripe or pantsuit. When Giuseppe (Sebastiano Pigazzi) attends the political event for Herbert Wexley (Christopher Jackson), the poet embodies the role of the polished artist in a blazer and vest. Ahead of Episode 9, members of The New York Times’s Styles desk discussed the colors, undergarments and pet portraits in the latest installment of the series. Jeremy Allen This episode’s fashion again felt very “Emily in Paris.” Carrie is sporting a beret as she strolls around the park with Aidan at the end of the episode!

Persons: Carrie, Sarah Jessica Parker, Miranda, Cynthia Nixon, Kristin Davis, Giuseppe, Sebastiano Pigazzi, Herbert Wexley, Christopher Jackson, Times’s Styles, Jeremy Allen, Emily, ” Carrie, Aidan Organizations: Charlotte, Manhattan, The Locations: Paris

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