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☆ Pope Francis takes on vested interests to speak out on humanitarian crises
▼ + stars: | 2024-01-23 | by ( Analysis Christopher Lamb | ) edition.cnn.com time to read: +18 min

Pope Francis received an emotional welcome on the island during a visit showing solidarity with migrants fleeing war and poverty. ARIS MESSINIS/AFP/Getty Images Pope Francis confesses in St. Peter's Basilica during the Vatican's Penitential Celebration on Friday, March 4, 2016. Alessandro Di Meo/AP Pope Francis arrives for his visit with prisoners in Santa Cruz, Bolivia, on Friday, July 10, 2015. Franco Origlia/Getty Images Pope Francis and Ecumenical Patriarch Bartholomew I address the faithful in Istanbul on Sunday, November 30, 2014. Gokhan Tan/Getty Images Pope Francis speaks during the feast-day Mass while on a one-day trip to Italy's Calabria region in June 2014.

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☆ Italy's MPS sees 2023 profit above 1 billion euros after tenfold rise
▼ + stars: | 2023-08-04 | by ( Valentina Za | ) www.reuters.com time to read: +3 min

FILE PHOTO-The logo of Monte dei Paschi di Siena bank is seen in a bank entrance in Rome, Italy August 16, 2018. Like peers, Monte dei Paschi (MPS) reaped the benefits of higher rates which have allowed banks to charge more for loans while what they pay out on deposits lags. To fund the voluntary staff exits by sending people into early retirement, Lovaglio oversaw a 2.5 billion euro ($2.7 billion) capital raise in tough markets last November. Shares in MPS traded 3.5% higher by late morning at 2.568 euros each. Core revenues jumped 10% on a quarterly basis to 941 million euros, leapfrogging expectations, with net interest income nearly doubling from last year and up 15% from the first quarter.

Persons: Max Rossi, Siena, Monte, Luigi Lovaglio, Lovaglio, Andrea Orcel, Valentina Za, Alvise Armellini, Keith Weir Organizations: REUTERS, STATE, MPS, Bankers, Thomson Locations: dei, Siena, Rome, Italy, MILAN

☆ Pope Francis meets Benedict's top aide as memoir rattles Vatican
▼ + stars: | 2023-01-09 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

[1/2] Pope Francis talks with Archbishop Georg Ganswein during the Wednesday general audience in Saint Peter's square at the Vatican, September 5, 2018. REUTERS/Max RossiVATICAN CITY, Jan 9 (Reuters) - Pope Francis on Monday privately met Archbishop Georg Ganswein, former Pope Benedict's closest aide, who has rattled the Vatican with a book describing what he says were the strains while two men wearing white lived within its ancient walls. The Vatican's daily bulletin listed Ganswein in the pope's schedule of audiences but as is customary gave no details. Although Francis often compared having Benedict living in the Vatican to having a grandfather in the house, the book describes some tense situations. For the first seven years after Francis was elected pope, Ganswein kept his two jobs.

☆ Former Pope Benedict was first pontiff to resign in 600 years
▼ + stars: | 2022-12-31 | by ( Philip Pullella | ) www.reuters.com time to read: +14 min

[1/3] Pope Benedict XVI blesses a baby as he rides around St Peter's Square to hold his last general audience at the Vatican February 27, 2013. REUTERS/Max Rossi/File PhotoVATICAN CITY, Dec 31 - Former Pope Benedict, who died on Saturday aged 95, was the first pontiff in 600 years to resign, leaving behind a Catholic Church battered by sexual abuse scandals, mired in mismanagement and polarised between conservatives and progressives. Benedict, the first German pope in 1,000 years, had good relations with his successor, Pope Francis, but his continued presence inside the Vatican after he stepped down in 2013 further polarised the Church ideologically. Although he said he would remain "hidden from the world", Benedict did not live up to that promise and in retirement sometimes caused controversy and confusion through his writings. Ganswein's role as a middleman between Benedict and the cardinal was unclear, with many believing he had misled Benedict, the cardinal, or both.

☆ Factbox: Former pope Benedict, his papacy and resignation
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +4 min

VATICAN CITY, Dec 28 (Reuters) - Former pope Benedict, who Pope Francis said on Wednesday was "very sick", resigned in 2013, the first pontiff in 600 years to take such a step rather than rule for life. - Benedict, the first German pope in 1,000 years, was elected on April 19, 2005 to succeed the widely popular Pope John Paul II, who reigned for 27 years. The Vatican under Pope John Paul II had failed to take action against Maciel despite overwhelming evidence of his crimes. Some loyalists failed to accept that he had resigned the papacy willingly and continued to consider him "my pope". Pope Francis, by contrast, also loves classical music but appreciates Italian pop songs from the early 1960s and also likes tango music from his native Argentina.

☆ ECB sets capital requirements for Monte dei Paschi for 2023, removes dividend ban
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] The entrance of the Monte dei Paschi bank headquarters is seen in Siena, central Italy, January 29, 2016. REUTERS/Max RossiMILAN, Dec 27 (Reuters) - The European Central Bank has set the minimum capital requirements for Banca Monte dei Paschi di Siena (MPS) (BMPS.MI) for next year and also removed a ban on the distribution of dividends, the lender said in a statement on Tuesday. The ECB told Monte dei Paschi it must maintain a Common Equity Tier 1 ratio - a measure of financial strength - of at least 8.8%, the statement added. The lender raised 2.5 billion euros ($2.6 billion) in cash in November, braving stormy markets with a new share issue. After a failed re-privatisation attempt last year, Monte dei Paschi is working to improve its appeal for a potential buyer under new CEO Luigi Lovaglio so as to allow the state to cut its 64% stake in a merger deal with a stronger rival.

☆ Countries split on plastics treaty focus as UN talks close
▼ + stars: | 2022-12-03 | by ( Valerie Volcovici | ) www.reuters.com time to read: +4 min

The High Ambition Coalition of over 40 countries, including EU members, Switzerland, host Uruguay and Ghana, wants the treaty to be based on mandatory global measures, including curbs on production. That approach contrasts with the country-driven pledges advocated by countries including the United States and Saudi Arabia. Critics say such an approach would weaken a global treaty. Industry representatives at the talks touted the essential role of plastics in daily life, calling for the treaty to focus tackling waste rather than measures to sap production. Environmental group Greenpeace said that without a strong treaty, plastic production could double within the next 10 to 15 years, and triple by 2050.

☆ Monte dei Paschi to get some $29 mln from local banking foundations - source
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

The logo of Monte dei Paschi di Siena bank is seen in a bank entrance in Rome, Italy, August 16, 2018. REUTERS/Max Rossi/File PhotoFLORENCE, Italy, Oct 11 (Reuters) - Monte dei Paschi di Siena (BMPS.MI) is set to get around 30 million euros ($29 million) for its new share issue from local banking foundations, including the Tuscan bank's former top shareholder, a source with knowledge of the matter said. In some cases, including that of the Fondazione Monte dei Paschi di Siena, they have seen their fortunes wiped out by the demise of the banks they owned. A fourth banking foundation, Cassa di Risparmio di Pistoia e Pescia (CariPistoia), has not yet taken a decision on a possible 3 million euro contribution, the source added. The chairman of CariPistoia had told Reuters the foundation was not interested in investing in Monte dei Paschi.

The logo of Monte dei Paschi di Siena bank is seen in a bank entrance in Rome, Italy August 16, 2018. Closer ties could hamper MPS' future search for a merger partner as the state seeks to cut its 64% stake. The banks organising the stock issue, however, have long seen the need for cornerstone investors, sources had previously said. Anima could contribute up to 250 million euros towards MPS' capital raise, when including an upfront payment for the improved partnership terms, a source had previously said. The state is allowed to cover 64% of MPS' capital raise based on the size of the stake it acquired after a 2017 bailout.

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