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☆ Ukraine's Zelenskiy Is Considering Replacing Zaluzhnyi, Others
▼ + stars: | 2024-02-04 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

(Reuters) -Ukrainian President Volodymyr Zelenskiy, in an interview broadcast on Sunday, said he was considering a "reset" to replace several senior officials. Speculation has gripped Ukraine for weeks over suggestions that the president was about to dismiss the highly popular commander, Valeriy Zaluzhnyi. But Zelenskiy said any changes went beyond replacing a single person to harness efforts to oust Russian troops. To win the war, Zelenskiy said, "We must all push in the same direction, we cannot be discouraged, we must have the right and positive energy, negativity must be left at home. On two occasions in the past week, Ukrainian media issued a torrent of reports that Zaluzhnyi's dismissal was imminent.

Persons: Volodymyr Zelenskiy, Valeriy, Zelenskiy, Zelenskyi, Zaluzhnyi, Oleksandr Syrskyi, Kyrylo Budanov, Gianluca Semeraro, Ron Popeski, Diane Craft, Lisa Shumaker Organizations: Reuters, RAI, Russian, CNN Locations: Ukraine, Russian, Italian, Ukrainian, Ukraine's, Kyiv

☆ Pope Francis Calls for Release of Nuns, Other Hostages Kidnapped in Haiti
▼ + stars: | 2024-01-21 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

VATICAN CITY (Reuters) - Pope Francis on Sunday called for the release of hostages, including six nuns, who were kidnapped on a bus in Haiti on Friday, and said he was praying for social harmony in the country. Armed gunmen hijacked a bus in Haiti's capital Port-au-Prince with at least six nuns on board and drove off to an unknown destination taking all passengers hostage, Vatican News reported on Saturday, citing the Haitian Conference of Religious group. "I have learned with sorrow of the kidnapping, in Haiti, of a group of people, including six religious sisters", Pope Francis said after his weekly Angelus prayer. The violence comes ahead of a court decision expected on Jan. 26 on a Kenyan-led multinational force to address gang violence in the country, one of the poorest in the Western Hemisphere. (Reporting by Gianluca Semeraro; Editing by Conor Humphries)

Persons: Pope Francis, Ariel Henry, Gianluca Semeraro, Conor Humphries Organizations: VATICAN CITY, Vatican, Haitian, Religious, Kenyan Locations: Haiti, Port

☆ Intesa CEO says bank profits at peak
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: 1 min

Carlo Messina, Chief Executive Officer of Intesa Sanpaolo bank, looks on during a meeting in Rome, Italy April 18, 2023. REUTERS/Remo Casilli/File Photo Acquire Licensing RightsMILAN, Nov 30 (Reuters) - Bank profits are close to peaking, and net fees will again play a prominent role from next year, giving an edge to banks such as Intesa Sanpaolo (ISP.MI) which has a diversified business model, Chief Executive Carlo Messina said on Thursday. "There is no doubt that we are currently in a peak phase for bank profits," Messina said. Italian banks have posted record profits this year thanks to higher interest rates, which lifted lending costs while deposit returns remained very low. Reporting by Valentina Za, editing by Gianluca SemeraroOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Messina, Remo Casilli, Messina, Valentina Za, Gianluca Semeraro Organizations: REUTERS, Bank, Thomson Locations: Sanpaolo, Rome, Italy

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

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

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

☆ 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

☆ 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

☆ Mediobanca posts record profit ahead of vote on new board
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

A logo of Mediobanca is pictured at Mediobanca headquarters in Milan, Italy, November 12, 2019. REUTERS/Flavio Lo Scalzo/File Photo Acquire Licensing RightsMILAN, Oct 26 (Reuters) - Mediobanca (MDBI.MI) posted its best-ever quarterly profit on Thursday, ahead of a key shareholder vote to name the Italian bank's new board and hand Chief Executive Alberto Nagel a new three-year mandate. Net profit rose 34% year-on-year to 351 million euros ($370 million) in the three months through September, beating a bank-provided analyst consensus of 315 million euros, thanks to contributions from wealth management and insurance. Del Vecchio, who died last year at the age of 87, had criticised Nagel for failing to grow the investment bank's business decisively and hampering expansion at insurer Generali (GASI.MI), in which Mediobanca is the main shareholder. ($1 = 0.9489 euros)Reporting by Gianluca Semeraro; editing by Alvise Armellini and Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

Persons: Flavio Lo Scalzo, Alberto Nagel, Revenues, Mediobanca, Delfin, Leonardo Del Vecchio, Del Vecchio, Nagel, Gianluca Semeraro, Alvise Armellini, Valentina Za Organizations: REUTERS, Thomson Locations: Milan, Italy, Italian, Del

☆ UniCredit to have more than 10 bln euros in excess capital by end-2023 - CEO to paper
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

Unicredit logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsROME, Oct 25 (Reuters) - UniCredit (CRDI.MI) will have more than 10 billion euros ($10.60 billion) in excess capital by end-2023 and will consider whether to use it for M&A deals or to reward its shareholders, the lender's Chief Executive said in an interview published on Wednesday . "If M&A at our conditions is complicated, what is left is distribution (of capital). Therefore what we will give back from 2024 will have an ordinary component and probably and extraordianry one," Andrea Orcel told Italian financial daily Il Sole 24 Ore.($1 = 0.9432 euros)Reporting by Gianluca Semeraro, writing by Giulia Segreti, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Andrea Orcel, Gianluca Semeraro, Giulia Segreti, Alvise Organizations: REUTERS, Rights, Thomson

☆ Two U.S. funds to vote Mediobanca outgoing board's slate for board renewal
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 19 (Reuters) - The U.S. funds CalSTRS and New York City Comptroller said on Thursday they would vote in favour of the outgoing board's slate of nominees for the new Mediobanca board at the bank's annual meeting this month. Mediobanca's outgoing board has proposed 15 members, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro ahead of the Oct. 28 meeting. The two funds did not disclose their stakes in Mediobanca. Proxy adviser Institutional Shareholder Services (ISS), Glass Lewis and Pensions & Investment Research Consultants (PIRC) said last week they were recommending Mediobanca investors vote in favour of the outgoing board's slate of nominees. Reporting by Gianluca Semeraro editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Persons: Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Glass Lewis, Gianluca Semeraro, Keith Weir Organizations: MILAN, New York, Services, Pensions & Investment Research Consultants, Thomson Locations: U.S, New, Mediobanca, Italian

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

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

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

☆ Proxy adviser ISS backs Mediobanca's outgoing board slate for board renewal
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

MILAN, Oct 11 (Reuters) - Proxy adviser Institutional Shareholder Services (ISS) said on Wednesday it was recommending that Mediobanca (MDBI.MI) investors vote in favour of the outgoing board's slate of nominees for the Italian bank's new board. The bank's board is elected for a three-year term and the current term expires on Oct. 28, when Mediobanca shareholders will vote on the renewal of the board, including the chief executive. Mediobanca's outgoing board has proposed 15 members for the full board, including a new term for current CEO Alberto Nagel and Chairman Renato Pagliaro. Mediobanca's outgoing board's slate of nominees "is adequately positioned to represent the long-term interests of institutional investors and carry out an effective oversight of the management's action", ISS said in a report. The current board has the support of a group of Italian investors, representing a combined 10.9% stake.

Persons: Alberto Nagel, Renato Pagliaro, Delfin, Leonardo Del Vecchio, Nagel, Del Vecchio, Francesco Gaetano Caltagirone, Gianluca Semeraro, Leslie Adler Organizations: MILAN, Services, Thomson Locations: Italian

☆ Italy's Prysmian sees core profit rising 34% by 2027 under new strategy
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

This will help it increase its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to around 2 billion euros ($2.1 billion) in 2027, from 1.49 billion euros last year, Prysmian said in a statement. Milan-listed shares in the company were up 2.6% by 0730 GMT, among the best performers within Italy's blue chip basket (.FTMIB). "Prysmian is uniquely placed to benefit from the opportunities presented by the structural changes arising from the convergence of the energy transition and digital transformation," Chief Operating Officer Massimo Battaini said in a statement. Annual cash flow is seen growing to between 0.9 billion and 1 billion euros in 2027 from 559 million euros last year. "Targets to 2027 are ambitious and above our estimates," Equita analyst Luigi De Bellis said in a note.

Persons: Battaini, Battista, Prysmian, Massimo Battaini, Valerio Battista, Luigi De Bellis, Giulio Piovaccari, Gianluca Semeraro, Sonali Paul, Michael Perry Organizations: Company, Cable, Thomson Locations: MILAN, Netherlands, Milan

☆ Italy's coast guard rescues 177 people aboard burning ferry
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: 1 min

MILAN, Sept 30 (Reuters) - Italy's coast guard rescued 177 people including 27 crew from a ferry that caught fire travelling from the Italian island of Lampedusa to Porto Empedocle in Sicily, it said on Saturday. The ferry's passengers included 83 migrants being transferred from Lampedusa, a coast guard statement said. All passengers were transferred to a coast guard vessel and are on their way to Porto Empedocle, except three who are returning to Lampedusa. During the rescue the coast guard used water jets to cool parts of the ferry affected by the fire, which broke out in the engine room late on Friday night. Reporting by Gianluca Semeraro; Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Gianluca Semeraro, William Maclean Organizations: Porto Empedocle, Thomson Locations: Lampedusa, Porto, Sicily

☆ Armenia seeks EU aid for refugees from Nagorno-Karabakh, Italy says
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +1 min

People gather near an aid center for refugees from Nagorno-Karabakh region in the border village of Kornidzor, Armenia, September 29, 2023. REUTERS/Irakli Gedenidze Acquire Licensing RightsROME, Sept 30 (Reuters) - Armenia has asked the European Union for assistance to help it deal with refugees arriving from Nagorno-Karabakh since Azerbaijan took back control of the region last week, the office of Italy's prime minister said on Saturday. More than 100,000 refugees have arrived in Armenia since Azerbaijan launched a military operation to retake control of Nagorno-Karabakh, the head of the U.N. refugee agency (UNHCR) said late on Friday. Armenia has asked the EU for temporary shelters and medical supplies, the Italian prime minister's office said in a statement, adding that Rome working to promote stabilisation in the region. Reporting by Angelo Amante Writing by Gianluca Semeraro Editing by Helen PopperOur Standards: The Thomson Reuters Trust Principles.

Persons: Irakli, Angelo Amante, Gianluca Semeraro, Helen Popper Our Organizations: REUTERS, Rights, European Union, UNHCR, EU, Thomson Locations: Nagorno, Karabakh, Kornidzor, Armenia, Azerbaijan, Republic of Artsakh, Soviet Union

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

☆ UniCredit picks headhunters to advise board on own slate of nominees
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: 1 min

The UniCredit bank logo in the old city centre of Siena, Italy, June 29, 2017. REUTERS/Stefano Rellandini/File Photo Acquire Licensing RightsMILANO, Sept 26 (Reuters) - UniCredit (CRDI.MI) said on Tuesday it had mandated Egon Zehnder and Spencer Stuart as headhunters to support the board in identifying candidates to be included in the slate of nominees current directors will put forward to appoint their successors. The current board is up for renewal next spring. In June UniCredit Chief Executive Andrea Orcel said he would be "definitely up for more," when asked about whether he would seek a new mandate at the helm of the Italian bank. Reporting by Gianluca Semeraro; editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stefano Rellandini, Egon Zehnder, Spencer Stuart, Andrea Orcel, Gianluca Semeraro, Valentina Za Organizations: REUTERS, UniCredit, Thomson Locations: Siena, Italy, Italian

☆ Group of Italian investors in Mediobanca backs new term for CEO Nagel
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

MILAN, Sept 25 (Reuters) - A group of Italian investors with a combined 10.9% stake in Mediobanca (MDBI.MI) will vote to give Chief Executive Alberto Nagel a new term at a shareholders' meeting on Oct. 28, one of the group's members said on Monday. The bank's board is elected for a three-year term and the current term expires on Oct. 28 when Mediobanca shareholders will vote on renewing the board, including the CEO. The group of investors, who in 2018 signed a consultation agreement on the most important issues regarding the bank, met on Monday. Another member of the group, who did not wish to be identified, said all members of the group would vote to keep Nagel as CEO. Nagel has so far enjoyed the support of institutional investors who collectively account for 45% of the bank's capital.

Persons: Alberto Nagel, Nagel, Del, Delfin, Francesco Gaetano Caltagirone, Mediobanca's, Renato Pagliaro, Angelo Caso, Pagliaro, Gianluca Semeraro, Susan Fenton Organizations: Banca Mediolanum, Delfin, Thomson Locations: Mediobanca

☆ Newborn Baby Found Dead on Migrant Boat off Italy's Lampedusa - ANSA
▼ + stars: | 2023-09-16 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

MILAN (Reuters) - The Italian Coast Guard found a newborn baby dead on a boat carrying migrants to the Italian island of Lampedusa during a rescue operation, ANSA news agency reported on Saturday. The baby was born during the trip and died soon after birth, ANSA reported, adding that around 40 migrants were on the boat. Earlier this week, a five-month-old baby boy drowned during a rescue operation off Lampedusa after a boat carrying migrants across the sea from North Africa capsized. Nearly 126,000 migrants have arrived in Italy this year, almost double the figure by the same date in 2022. In a video message posted on social media, Meloni promised strict action in response to a surge in migrant arrivals this week.

Persons: ANSA, Lampedusa, Giorgia Meloni, Meloni, Gianluca Semeraro, Toby Chopra Organizations: MILAN, Italian Coast Guard, European Union Locations: Lampedusa, North Africa, Italy, Italian

☆ EU chief to visit Italy's Lampedusa amid protests over migrant numbers
▼ + stars: | 2023-09-16 | by ( Yara Nardi | ) www.reuters.com time to read: +3 min

[1/7] A child looks on as migrants are seen inside the hotspot, on the Sicilian island of Lampedusa, Italy, September 16, 2023. Nearly 126,000 migrants have arrived in Italy so far this year, almost double the figure by the same date in 2022. Lampedusa has recently borne the brunt, with thousands of landings this week, more than the island's permanent population. ISLANDERS' PROTESTDozens of Lampedusa residents held protests on Saturday against a plan to build new tent camps to host migrants. Earlier this week, a five-month-old baby boy drowned off Lampedusa after a boat carrying migrants across the sea from North Africa capsized.

Persons: Yara, Ursula von der, Giorgia Meloni, Lampedusa, Von der, Eric Mamer, Gerald Darmanin, Nancy Faeser, Elisabeth Borne, BFM, Emmanuel Macron, Gianluca Semeraro, Ludwig Burger, Jan Strupczewski, Gus Trompiz, Toby Chopra, Mike Harrison Organizations: REUTERS, Italy's, European Union, EU, Twitter, ISLANDERS, Italian Coast Guard, Thomson Locations: Lampedusa, Italy, Italian, North Africa, France, Germany, Rome, Europe, Milan, Frankfurt, Brussels, Paris

☆ Eni to become latest energy giant to exit Nigerian onshore operations
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

Sept 4 (Reuters) - Italy's Eni (ENI.MI) signed on Monday an agreement to sell its unit Nigerian Agip Oil Company (NAOC) to Nigerian counterpart Oando (OANDO.LG), the group said in a statement, in the latest move by an energy giant out of the country. Eni's NAOC, which focuses on oil and gas exploration and production, has interests in four onshore blocks and two onshore exploration leases in Nigeria, the group said. Similar approvals have been held back by legal and political issues in Exxon's and Shell's assets sales. After the disposal of NAOC, in line with the firm's 2023-2026 plan, Eni will retain the unit's 5% stake in the Shell Production Development Company (SPDC) joint venture operated by Shell, the group added. Reporting by Alessandro Parodi; additional reporting by MacDonald Dzirutwe and Libby George; editing by Gianluca Semeraro and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Italy's Eni, Eni's, Jefferies, Alessandro Parodi, MacDonald Dzirutwe, Libby George, Gianluca Semeraro, Louise Heavens Organizations: Italy's, Agip Oil Company, Shell, Exxon Mobil Corp, Eni, Shell Production Development, Thomson Locations: Nigeria, Exxon's

☆ Ferrari nudges up year forecasts after Q2 results, investors unimpressed
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +3 min

EBITDA of 2.19-2.22 bln euros this yearForecast on FY EBITDA margin unchanged at 38%FY revenue expected to grow to around 5.8 bln eurosAdj. The Italian company guided for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to grow to between 2.19 billion euros and 2.22 billion euros ($2.40 billion - $2.44 billion) this year, versus a previous forecast of between 2.13 billion and 2.18 billion euros. The expected cash generation was also broadly unchanged, at around 900 million euros versus a previous guidance of up to 900 million euros. Ferrari shares, which are up around 40% this year, erased small daily gains after the results were published. In the second quarter, adjusted EBITDA grew 32% to 589 million euros, in line with analysts' expectations of 580 million euros, according to a Reuters poll.

Persons: Andrew Boyers, Benedetto Vigna, Bernstein, Daniel Roeska, Vigna, Giulio Piovaccari, Gianluca Semeraro, Keith Weir, Sharon Singleton Organizations: Prix, Silverstone Circuit, REUTERS, Ferrari, Daytona, EMEA, Thomson Locations: Silverstone, Britain, MILAN, Italian, personalisations

☆ Mediobanca to launch new $223 mln buyback after record year
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

MILAN, July 27 (Reuters) - Italy's Mediobanca (MDBI.MI) said on Thursday it would buy back its own shares for around 200 million euros ($223 million) in its new fiscal year after closing the previous one with record revenues and profits. The bank posted a 13% yearly rise in net profit to 1.03 billion euros in the 12 months through June, after one-off hits totalling around 190 million euros. Mediobanca booked a 49.5 million euro impairment on Swiss asset manager RAM while also setting aside 26 million euros to fund voluntary staff exits to boost generational turnover. "Mediobanca in the next three years will deliver strong growth in wealth management, more efficient risk weighted asset (RWA) management, and enhanced shareholder remuneration," Chief Executive Alberto Nagel said in a statement. ($1 = 0.8976 euros)Reporting by Gianluca Semeraro; editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

Persons: Mediobanca, Alberto Nagel, Gianluca Semeraro, Valentina Za Organizations: MILAN, Thomson

☆ Generali buys U.S. asset manager Conning under deal with Cathay Life
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

MILAN, July 6 (Reuters) - Generali (GASI.MI) has agreed to buy Connecticut-based asset manager Conning Holdings as part of a partnership with Cathay Life, a unit of Taiwan's Cathay Financial Holding (2882.TW), the Italian insurer said on Thursday. Cathay Life will become a minority shareholder in Generali Investments Holding, which comprises the majority of the group's asset management activities, with a stake of around 16.75%, Generali said. Furthermore Generali will become one of the top 10 players in asset management in Europe, he added. Generali and Cathay Life will enter an asset management agreement for at least 10 years. The acquisition of Conning and its affiliates increases Generali's total Assets Under Management (AUM) to $845 billion (775 billion euros), up from 620 billion euros at the end of March.

Persons: Philippe Donnet's, Generali, Carlo Trabattoni, Woody Bradford, Gianluca Semeraro, Valentina Za, Keith Weir Organizations: MILAN, Holdings, Cathay Life, Cathay Financial, Cathay, Generali Investments, Wealth Management, Generali, Thomson Locations: Connecticut, United States, Europe, Asia

☆ Papal envoy says Moscow visit focused on humanitarian issues, not peace plan
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

MILAN, July 2 (Reuters) - Papal envoy Cardinal Matteo Zuppi said on Sunday his mission to Moscow on the Ukraine war was focused on humanitarian issues and had not involved any discussions of a peace plan. Pope Francis had in May asked Zuppi, head of the Italian bishops' conference, to carry out a peace mission to try to help end the war in Ukraine. There is not a peace plan, not a mediation", Zuppi told state broadcaster RAI. On the same day, a Vatican statement said the visit was "aimed at identifying humanitarian initiatives, which could open roads to peace". During his Sunday blessing, Francis called on pilgrims to keep praying for peace, "even during summer time and especially for Ukrainian people".

Persons: Cardinal Matteo Zuppi, Pope Francis, Zuppi, Vladimir Putin's, Yuri Ushakov, Kirill, Volodymyr Zelenskiy, Constantinople, Francis, Gianluca Semeraro, David Holmes Organizations: MILAN, Papal, Russian Orthodox Church, RAI, Thomson Locations: Moscow, Ukraine, Russian

☆ Pope Francis doing well after first night in hospital, Vatican says
▼ + stars: | 2023-06-08 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

[1/2] A nun kisses the hand of Pope Francis during the weekly general audience on the day he is due to undergo abdominal surgery, in St. Peter's Square at the Vatican, June 7, 2023. REUTERS/Yara NardiROME, June 8 (Reuters) - Pope Francis was doing well on Thursday morning after his first night in hospital following abdominal surgery, the Vatican said. "The night went well," the Vatican said in a brief statement, adding that more information would be released later in the morning. Fancis underwent a laparotomy, or open abdominal surgery, and a mesh prosthesis was used to reconstruct the abdominal wall. It is the third hospital stay for Francis since cardinals chose the Argentinian in 2013 as the first Latin American pope.

Persons: Pope Francis, Yara, Francis, Sergio Alfieri, hopsital, Alfieri, Fancis, Federica Urso, Gianluca Semeraro, William Maclean Organizations: Vatican, REUTERS, Thomson Locations: St, ROME, Rome, Portugal, Fatima, Mongolia

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