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☆ TIM grid sale paves way for state-controlled network operator - minister
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo Acquire Licensing RightsROME, Nov 14 (Reuters) - Telecom Italia's (TIM) (TLIT.MI) planned sale of its fixed-line network to U.S. fund KKR (KKR.N) boosts the prospects of creating a national grid operator under state control, Italy's industry minister said on Tuesday. "Prospectively, I think this [the deal] will enhance the creation of a national grid operator under public control, in full respect of the EU competition law," Minister Adolfo Urso said during an event in Rome. The 19-billion-euro deal ($20.4 billion) is backed by the administration of Prime Minister Giorgia Meloni, which authorised the Treasury to spend up to 2.2 billion euros to take a 20% stake in the network. ($1 = 0.9330 euros)Reporting by Elvira Pollina, editing Federico MaccioniOur Standards: The Thomson Reuters Trust Principles.

Persons: Yara, Adolfo Urso, Giorgia Meloni, Elvira Pollina, Federico Maccioni Organizations: REUTERS, Rights, Telecom, KKR, Treasury, Thomson Locations: Rome, Italy

☆ Italy Finance Minister evokes default risk to defend bank measures
▼ + stars: | 2023-11-14 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

Minister of Economic Development Giancarlo Giorgetti attends the first voting session at the lower house of parliament to elect the new speaker in Rome, Italy, October 13, 2022. "In two or three years' time, when I may not be around but there will be a default crisis, perhaps someone will say that our government was not so crazy," Giorgetti said, without giving further details of this scenario. The average default rate for Italian companies rose for the first time in nearly decade in 2022 to stand at 2.4% in December, compared with a record low of 1.6% in December 2021, credit data company CRIF said last month. The rate has edged up in the first half of 2023 to 2.5%, CRIF added, forecasting it could get to 3% by the end of 2023. ($1 = 0.9346 euros)Additional reporting by Valentina Za in Milan; Editing by Gareth Jones and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Giancarlo Giorgetti, Guglielmo Mangiapane, Giorgetti, CRIF, Valentina Za, Gareth Jones, Alexander Smith Organizations: Economic, REUTERS, Italian Economy, Hamas, Thomson Locations: Rome, Italy, ROME, Italian, Europe, Israel, Ukraine, Milan

☆ UniCredit CEO Orcel's 'bank of Europe' ambition tough to realise
▼ + stars: | 2023-11-14 | by ( Valentina Za | ) www.reuters.com time to read: +6 min

However, his aspirations to make UniCredit the "bank of Europe" are proving trickier to realise with the CEO setting a high bar for mergers and acquisitions in the euro zone's fractured capital markets, despite having what he describes as the biggest war chest among European lenders. UniCredit bought Greece's 9% stake in Alpha Bank (ACBr.AT) and struck a commercial partnership with the Athens-based lender, also acquiring most of its Romanian operations. The CEO works closely with a small M&A team he set up within UniCredit which constantly reviews potential deals in the markets and businesses where the bank operates, people with knowledge of the matter said. But uneven regulation across the euro zone, where progress towards a single banking market has stalled, complicates cross-border deals. Calling on Europe to follow his lead, Orcel says he has unlocked UniCredit's potential by giving it a unified strategy across its 13 markets.

Persons: Andrea Orcel, Merrill Lynch, Orcel, He's, Cole Smead, ALPHA Orcel, Siena, UniCredit, Smead, Jean, Pierre Mustier's, Mustier, it's, Carlo Franchini, Danilo Masoni, Kirsten Donovan Organizations: Discount, MILAN, UBS, Smead Capital Management, Fund, ALPHA, Banco, Alpha Bank, Alpha, Banca Ifigest, Thomson Locations: buybacks, Europe, Arizona, Ukraine, Athens, HVB, Berlin, Milan

☆ Italy's Banca Generali lifts NII target after Q3 profit beat
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Nov 13 (Reuters) - Italian asset manager Banca Generali (BGN.MI) raised its annual net interest income (NII) forecast on Monday after its third-quarter profit jumped nearly 35%, excluding one-off expenses. The group, controlled by Italy's top insurer Generali (GASI.MI), sees NII of around 300 million euros ($320 million) in 2023, up from a previous guidance of 250-280 million, CEO Gian Maria Mossa said in a post-earnings call with analysts. The bank reported a net profit of 80.1 million euros in the three months through September, beating a company-provided consensus estimate of 78.9 million, driven by a strong increase in NII and higher net recurring fees. Quarterly NII came in at 76.6 million euros, up from 36 million in the same period last year, while recurring fees rose by 2.1% to 114.4 million euros over the same period. The group also said it would set aside 26.6 million euros as non-distributable reserves in lieu of paying the windfall tax on net interest income introduced by the Italian government.

Persons: Gian Maria Mossa, NII, Federica, Milla Nissi Organizations: Banca Generali, Thomson Locations: Italian

☆ Italy's Spalletti asked federation before including Zaniolo in Euro squad
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +3 min

Spalletti told a press conference on Monday: "He (Zaniolo) had nothing to do with that situation (betting on football). "Before calling Zaniolo I spoke to the President (Gabriele Gravina) and the federation and there was nothing against this." Italy can book a place at next year's Euros if they beat visiting North Macedonia and avoid defeat away to Ukraine. Last month Zaniolo's Premier League club issued a statement saying: "Aston Villa can confirm Nicolo Zaniolo is assisting the Italian Football Federation (FIGC) and the relevant authorities' investigation into alleged illegal betting activity." Fagioli has made one appearance for Italy but was not in the squad for the previous round of international games.

Persons: Nicolo Zaniolo, Claudia Greco, Luciano Spalletti, Spalletti, Zaniolo, Gabriele Gravina, Sandro Tonali, Tonali, Nicolo Fagioli, Fagioli, LOCATELLI, Manuel Locatelli, Udogie, he's, Angelica Medina, Ken Ferris Organizations: Soccer Football, Italian Football Federation, Aston Villa, North, Malta, Premier League, Villa, Juventus, Tottenham Hotspur, Chelsea, Spurs, Wolverhampton Wanderers, Thomson Locations: Italy, Ukraine, San Siro, Milan, North Macedonia, England, Turin, Newcastle, Germany, Mexico City

☆ 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

☆ Biden campaign says Trump echoed Hitler with use of word 'vermin'
▼ + stars: | 2023-11-13 | by ( Nathan Layne | ) www.reuters.com time to read: +3 min

Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign rally in Claremont, New Hampshire, U.S., November 11, 2023. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsNov 13 (Reuters) - U.S. President Joe Biden's 2024 re-election team on Monday said former President Donald Trump had embraced the language of Nazi German dictator Adolf Hitler by using the word "vermin" to refer to his political enemies. "Donald Trump thinks he can win by dividing our country. Steven Cheung, a Trump campaign spokesman, rejected the comparisons to Hitler and Italy's Mussolini. White House spokesperson Andrew Bates also said Trump's use of the word "vermin" echoed Hitler and Mussolini.

Persons: Donald Trump, Brian Snyder, Joe Biden's, Adolf Hitler, Trump, autocrats, Donald Trump parroted, Benito Mussolini –, Biden, Ammar Moussa, he’ll, Steven Cheung, Hitler, Italy's Mussolini, Cheung, Andrew Bates, Mussolini, Bates, Tim Naftali, Naftali, Nathan Layne, Howard Goller Organizations: REUTERS, Veterans, Trump, White, Republican, Columbia University's School of International and Public Affairs, Thomson Locations: Claremont , New Hampshire, U.S, Nazi German, New Hampshire, Wilton , Connecticut

☆ Fernandez seals Canada's first BJK Cup title
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +3 min

After the 21-year-old converted match point the Canadian team celebrated wildly on court in front of their jubilant fans. It was then over to Fernandez who duly claimed her fourth singles win of the week by outclassing Paolini. Canada's team will receive $2.4 million in prize money -- a record for the women's team event formerly known as the Fed Cup. "Congratulations to Canada for capturing their first Billie Jean King Cup title," King said. Canada are the 13th nation to win the Billie Jean King Cup and the second new champions in two years following Switzerland’s triumph in Glasgow 12 months ago.

Persons: Billie Jean King, Marina Stakusic, Italy's Martina Trevisan, Marcelo Del Pozo, Leylah Fernandez, Jasmine Paolini, Heidi El Tabakh, Martina Trevisan, Trevisan, Stakusic, Fernandez, outclassing Paolini, Marketa Vondrousova, Gabriela Dabrowski, Barbora Krejcikova, Katerina Siniakova, American King, King, Martyn Herman, Hugh Lawson, Ken Ferris Organizations: La, U.S ., WTA, Wimbledon, Fed, Billie Jean King Cup, Thomson Locations: Seville, Spain, SEVILLE, Canada, Italy, Czech Republic, Czech, American, Glasgow

☆ Germany's Scholz looking 'closely' at Italy's migrant deal with Albania
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

German Chancellor Olaf Scholz looks on next to the President of the Party of European Socialists (PES) Stefan Lofven during the meeting of the Party of European Socialists in Malaga, Spain, November 11, 2023. REUTERS/Jon Nazca Acquire Licensing RightsFRANKFURT, Nov 11 (Reuters) - German Chancellor Olaf Scholz on Saturday signalled an openness to study Italy's deal to hold migrants in Albania as the European Union tries to stem illegal immigration. Scholz's briefing, of which Reuters obtained an audio file, was held on the sidelines of a congress of the Party of European Socialists (PES). Scholz had on Tuesday agreed on a tougher migration policy and new funding for refugees with the heads of Germany's 16 states. Scholz also said six western Balkan states that had been promised EU membership 20 years ago should "soon" be integrated.

Persons: Olaf Scholz, Stefan Lofven, Jon Nazca, Scholz, Andreas Rinke, Vera Eckert, Dditing, David Holmes Organizations: Party of European Socialists, REUTERS, Rights, European Union, Monday Rome, Reuters, Thomson Locations: Malaga, Spain, Albania, Moldova, Ukraine, Georgia, Israel, Gaza

☆ Italy overcome spirited Slovenia to reach BJK Cup final
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

SEVILLE, Spain, Nov 11 (Reuters) - Jasmine Paolini defeated Tamara Zidansek and Martina Trevisan beat Kaja Juvan as Italy secured a 2-0 victory over Slovenia in Seville on Saturday to reach the Billie Jean King Cup final and stay on course for their fifth crown in the team competition. Trevisan earlier put Italy in front in their quest to make the final of the event for a sixth time with a battling 7-6(6) 6-3 victory over Slovenian world number 104 Juvan. "I have to say that today was really tough," Trevisan said as Italy tasted success in their first semi-final appearance in the competition since 2014. Italy's last triumph in the competition came 10 years ago, and they could face stiff competition in Sunday's title clash. Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Jasmine Paolini, Tamara Zidansek, Martina Trevisan, Kaja Juvan, Billie Jean King, Paolini, Trevisan, Shrivathsa Sridhar, Hugh Lawson Organizations: Slovenia, Billie Jean King Cup, Estadio, la, Slovenian, Czech, United States, Thomson Locations: SEVILLE, Spain, Italy, Seville, Czech Republic, Canada, Bengaluru

☆ Booking.com settles Italian tax dispute with 94-million euro payment
▼ + stars: | 2023-11-10 | by ( Emilio Parodi | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMILAN, Nov 10 (Reuters) - Travel website Booking.com (BKNG.O) has agreed to pay about 94 million euros ($100.25 million) to settle a tax dispute in Italy, Genoa prosecutors said on Friday. Italy's Guardia di Finanza tax police alleged in June 2021 that Booking.com evaded 153 million euros of value added tax (VAT) in connection with holiday rentals from 2013 to 2019. Last November, Dutch magistrates accepted a European investigation order (OIE) sent by Italy allowing Italian prosecutors to question two former Booking.com chief financial officers as part of the investigation. Private accommodation sites which are not professionally run often have no VAT number, and Italian tax authorities believe the online travel agency should in such cases act as a withholding agent, collecting tax. In another similar case involving a company's responsibility to collect tax on behalf of tax authorities, an Italian judge on Monday seized 780 million euros from short-term rentals platform Airbnb (ABNB.O).

Persons: Dado Ruvic, Booking.com, Italy's, Toby Sterling, Alvise Armellini, Aurora Ellis Organizations: REUTERS, Apple, Facebook, Italian Revenue Agency, Prosecutors, U.S ., Holdings, Union, Thomson Locations: Italy, Genoa, Booking.com, Netherlands, Friday's, Italian, Delaware, Amsterdam

The option however is not top of the list for the Treasury, one of the sources added. Announced in May, Eni's share buyback is underway and is expected to increase the government's total stake to just above 34% of voting shares. Once completed, the Treasury could potentially sell enough shares for Italy to remain slightly over 30% of Eni's capital when factoring in CDP's stake, another source said. At current market prices, 4% of Eni is worth around 2 billion euros ($2.14 billion). Eni's share buyback is expected to end before April 2024 after the group said last month it would speed up the programme launched to reward investors.

Persons: Chris Helgren, Italy's, Eni's, Lucia Albano, Giancarlo Giorgetti, Jan Harvey Organizations: Eni, REUTERS, MILAN, Italy's Treasury, Bankers, Treasury, European Union, Economy, Ferrovie dello Stato, Thomson Locations: Vancouver , British Columbia, Canada, Rome, Italy, dei

☆ Take Five: That rate cut trade
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Nov 10 (Reuters) - Markets are keen to trade rate cuts and big central banks are pushing back, shining a new light on upcoming data in that tug of war. Traders, anticipating roughly three quarter-point Fed rate cuts next year, will now turn their attention to Tuesday's inflation data to confirm their view on the outlook. A sharper cooling could fan the peak rate talk, fuelled by October's employment report, which pointed to an easing in labor markets. Reuters Graphics Reuters Graphics3/ ONCE BITTENThe robust dollar suddenly appears vulnerable to the push and pull in the market's Fed rate cut bets. The data could also help justify, or challenge, recent remarks from BoE chief economist Huw Pill that mid-2024 could be the time for rate cuts.

Persons: Brendan McDermid, Lewis Krauskopf, Kevin Buckland, Danilo Masoni, Alun John, Dhara, Jerome Powell, Ping, Powell, Rishi Sunak, Sunak, BoE, Huw Pill, Sumanta Sen, Pasit, Riddhima Talwani, Prinz Magtulis, Jayaram, Dhara Ranasinghe, Tomasz Janowski Organizations: New York Stock Exchange, REUTERS, Traders, Reuters, Beijing, Reuters Graphics Reuters, Bank of England, Thomson Locations: New York City, U.S, China, New York, Tokyo, Milan, London, Washington, September's, Germany, Europe, ITALY, Italy

The EU's proposed "Euro 7" law would tighten limits on health-harming pollutants from combustion engine cars. The European Commission, which drafts new EU laws, has said the health benefits would far outweigh the costs. However, EU countries and lawmakers - which are in charge of negotiating the final law in the coming months - have each agreed to weaken the rules. Green lawmakers criticised the vote as a missed chance to reduce the roughly 70,000 premature deaths per year in Europe attributed to vehicle pollution. "The EU is missing the opportunity to be the future leader in green technology," Green EU lawmaker Bas Eickhout added.

Persons: Yves Herman, Alexandr Vondra, Bas Eickhout, Adolfo Urso, Kate Abnett, Alvise Armellini, Sharon Singleton Organizations: REUTERS, Rights, New, European Commission, Commission, Italy's Industry, EU, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Union, Europe, Italy, Czech Republic

☆ Italy's Nexi confirms guidance after earnings meet forecasts
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

The logo of Italian payments group Nexi is pictured inside their headquarters in Milan, Italy, March 28, 2019. Nexi said it had sold ID, a system to verify users' online identity and data, which it had lined up for disposal during its latest capital markets day to streamline its operations. Nexi's earnings before interest, tax, depreciation and amortisation came in at 495.8 million euros ($531 million), fractionally ahead of analyst forecasts. Revenues totalled 872 million euros, in line with expectations. ($1 = 0.9343 euros)Reporting by Valentina Za, editing by Giulia SegretiOur Standards: The Thomson Reuters Trust Principles.

Persons: Alessandro Garofalo, Nexi, amortisation, Valentina Za, Giulia Segreti Organizations: REUTERS, Thomson Locations: Milan, Italy

☆ MPS gets dismissal of $481 mln in claims upheld in court
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 9 (Reuters) - Milan's civil appeals court on Thursday upheld a ruling rejecting a 450 million euro ($481 million) damage claim brought by Luxembourg-based fund Alkem against Monte dei Paschi di Siena (BMPS.MI), the bank's former top management and its adviser Nomura , the court said in a statement. The rulings are beneficial for MPS which is 64% owned by the state following a 2017 bailout, and must be re-privatised. Alken had sought around 450 million euros in compensation and Virmont SA another 4.7 million, the court said, adding there were further smaller claims from some Italian investors. The civil appeals court in Milan also cited the ruling of the criminal court of appeal in Milan that had acquitted all the defendants in the case centring around the two derivatives deals, a decision confirmed by Italy's top court last month. ($1 = 0.9356 euros)Reporting by Emilio Parodi, editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

Persons: Siena, Nomura, Alken, Emilio Parodi, Valentina Za Organizations: MILAN, Monte dei, Deutsche Bank, Nomura, MPS, Virmont SA, Thomson Locations: Luxembourg, Milan

☆ It's Not Guantanamo, Italy's Tajani Says, Defending Albania Migrant Camps
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

PARIS (Reuters) - A deal that allows Italy to build migrant reception and detention camps in Albania respects European Union rules, Italy's foreign minister said on Thursday, dismissing suggestions they were an Italian Guantanamo Bay. Italian opposition parties have denounced Meloni's plans as a deportation, with Riccardo Magi, a lawmaker with the centrist +Europa group, evoking the notorious Guantanamo Bay extrajudicial camps used by the U.S. in Cuba to detain Islamist terrorism suspects. It's a normal humanitarian accord," Tajani said. The German government agreed to look into whether asylum procedures could be carried out outside the European Union, though Chancellor Olaf Scholz expressed scepticism on whether that was constitutionally possible and if countries would agree to it. (Reporting by John Irish; additional reporting by Alvise Armellini; editing by Nick Macfie)

Persons: Giorgia Meloni, Meloni's, Riccardo Magi, Antonio Tajani, It's, Tajani, Chancellor Olaf Scholz, John Irish, Alvise, Nick Macfie Organizations: PARIS, European, of Human Rights, Court, Justice, European Union Locations: Italy, Albania, Italian Guantanamo, U.S, Cuba, Guantanamo, Germany

☆ Thales Alenia Space to invest over 100 mln euros in Space Smart Factory in Rome
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Thales Alenia Space, a French-Italian joint venture between Thales (TCFP.PA) and Leonardo (LDOF.MI), will invest over 100 million euros ($107.15 million) to set up a Space Smart Factory at the Tecnopolo Tiburtino hub in Rome. The project to build an all-digital factory for the production of satellites is co-funded by the Italian Space Agency through Italy's post-pandemic recovery funds, the company said in a statement on Thursday. "The facility will form part of a system of interconnected space factories in Italy, employing advanced technologies to build satellites of different sizes for various fields and applications." the note read, adding Rome's plant will be one of the largest digital and reconfigurable facilities of its kind in Europe. Thales Alenia Space is jointly controlled by Thales, with a 67% stake, and Leonardo, with the remaining 33% stake.

Persons: Leonardo, Alessia, Kirsten Donovan Organizations: Thales Alenia Space, Thales, Smart Factory, Italian Space Agency, Thomson Locations: French, Italian, Rome, Italy's, Italy, Europe

☆ Italy reach BJK Cup semis, Australia stay alive
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Paolini, who like Trevisan also won her singles against France, then dispatched Anna-Lena Friedsam 6-3 6-2. It is the first time Italy have reached the semi-finals of the competition since 2014. Captain Alicia Molik changed her line-up and world number 155 Storm Hunter rewarded her faith by posting a 7-6(2) 6-4 victory against Anna Danilina, ranked a lowly 802nd. Later on Thursday, reigning champions Switzerland face the United States in Group A needing to win to stay in the hunt. Canada can secure their place in the semi-finals if they beat a Poland side without world number one Iga Swiatek.

Persons: Billie Jean King, Jasmine Paolini, Germany's Anna, Lena Friedsam REUTERS, Marcelo Del Pozo, Martina Trevisan, Eva Lys, Trevisan, Anna, Lena Friedsam, Alicia Molik, Storm Hunter, Anna Danilina, Yulia Putintseva, Kim Birrell, Hunter, Ellen Perez, Martyn Herman, Toby Davis Organizations: La, Germany, France, Slovenia, Kazakhstan, Switzerland, United States, Thomson Locations: Seville, Spain, Italy, Kazakhstan, France, Germany, Australia, Slovenia, United, Canada, Poland

The parents of baby Indi Gregory, who has a rare metabolic disorder known as mitochondrial disease, have fought legal battles in a bid to continue life support for their child. The legal tussle is the latest in a series of similar cases in Britain that saw doctors and parents spar over the treatment of terminally ill children and the respective rights and responsibilities of parents and medical professionals. The campaign group Christian Concern, which is supporting Indi’s parents, said the parents plan to appeal the ruling. The fatal disease has caused progressive brain damage in baby Indi, leaving her totally dependent on life support, according to evidence presented to the High Court in London. Instead, he said continuation of treatment would “perpetuate a high level of pain and suffering” for the baby.

Persons: —, Indi Gregory, Robert Peel, Indi, Gesu, Peel, ”, Justice Peel, Giorgia Meloni, Dean Gregory, Indi's, ’ Organizations: Britain's, Queen's, Italy —, Queen’s, Health Service, Court, Christian Locations: Italy, Britain, Nottingham, London, Poland

☆ Telecom Italia core profit up 9% as grid share deal helps domestic sales
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

That is ahead of a 1.37 billion euro company-provided analyst consensus. Total domestic sales rose 2.2% in the quarter to 2.98 billion euros, also above forecasts. The company confirmed its 2023 financial targets, including a stabilisation of core earnings and service revenue in Italy. In the nine months, service revenue at TIM's domestic operations fell 1.3% to 7.9 billion euros. TIM's net financial debt stood at 26.3 billion euros as of Sept. 30, marginally up from the end of the previous quarter.

Persons: Stefano Rellandini, Giorgia, Pietro Labriola, Elvira Pollina, Valentina Za Organizations: Telecom Italia, REUTERS, Vivendi, Italy's, KKR, TIM, Thomson Locations: Rozzano, Milan, Italy, TIM's

☆ Italy beat France in BJK Cup Finals after two singles wins
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

[1/4] Tennis - Billie Jean King Cup Finals - Estadio de La Cartuja, Seville, Spain - November 8, 2023 Italy's Martina Trevisan celebrates during her match against France's Alize Cornet REUTERS/Marcelo Del Pozo Acquire Licensing RightsSEVILLE, Nov 8 (Reuters) - Singles wins for Martina Trevisan and Jasmine Paolini gave Italy victory over France in their opening Group D clash at the Billie Jean King Cup Finals in Seville on Wednesday. Trevisan recovered from a slow start to beat the experienced Alize Cornet 2-6 6-2 6-2 in the opening rubber. France will seek to at least get a point on the board in the later doubles. Italy have now beaten France five times in their last seven meetings in the flagship women's team competition. Later on Wednesday hosts Spain face Canada in the first action in Group C.Reporting by Martyn HermanOur Standards: The Thomson Reuters Trust Principles.

Persons: Billie Jean King, Martina Trevisan, France's Alize Cornet, Marcelo Del Pozo, Jasmine Paolini, Trevisan, Alize Cornet, Paolini, Caroline Garcia, Martyn Herman Our Organizations: La, Italy, France, Billie Jean King Cup, Wednesday, Spain, Thomson Locations: Seville, Spain, France, Italy, Canada

☆ 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 PM hails migrants deal with Albania as possible model for EU
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

The agreement announced on Monday is the first example of a non-EU country accepting migrants on behalf of an EU nation. "I believe it (the deal) could become a model of cooperation between EU and non-EU countries in managing migration flows... I think this agreement features a bold European spirit," Meloni told Il Messaggero daily. Asked about the scheme by two Italian newspapers, Rama said Italy had not been the only EU country to propose such a deal, but he said he accepted Rome's offer as a sign of "gratitude". In the 1990s, Italy took in large numbers of Albanians and Rome is now one of the most solid backers of Albania's EU accession hopes.

Persons: Ursula von der Leyen, Giorgia Meloni's, Yara, Giorgia Meloni, Meloni, Il, Rama, Federico Maccioni, Alvise Armellini, Nick Macfie Organizations: Italian, REUTERS, Rights, European Union, EU, European Commission, La Stampa, Thomson Locations: Lampedusa, Italy, Albania, EU, British, Rwanda, Rome

☆ MBDA's British arm signs $5 bln deal to bolster Poland's air defence system
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

British Secretary of State for Defence Grant Shapps walks outside Number 10 Downing Street, in London, Britain, October 24, 2023. REUTERS/Hannah McKay Acquire Licensing RightsLONDON, Nov 7 (Reuters) - The British arm of defence firm MBDA has signed a 4 billion pound ($4.92 billion) deal to supply Poland with ground-based air defence systems, the British government said on Tuesday. Britain's Ministry of Defence said the partnership would boost Poland's Narew air defence programme and help bolster European security amid the conflict in Ukraine. "This is another crucial step forward for our historic defence ties with Poland, supplying next generation air defence capabilities to act as a clear deterrent to our adversaries," British Defence Secretary Grant Shapps said. The air defence system would be able to launch missiles at air threats such as cruise missiles and fighter jets at ranges of more than 40 kilometres, the ministry said.

Persons: Defence Grant Shapps, Hannah McKay, MBDA, Grant Shapps, Mariusz Blaszczak, Italy's Leonardo, Sachin Ravikumar, Alan Charlish, William James Our Organizations: State, Defence, REUTERS, Britain's Ministry of Defence, British, Airbus, Britain's BAE Systems, Thomson Locations: London, Britain, British, Poland, Ukraine, Poland's

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