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☆ U.S. rate cuts increasingly uncertain, but we still expect a couple this year: Pimco analyst
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. rate cuts increasingly uncertain, but we still expect a couple this year: Pimco analystNicola Mai, economist and sovereign credit analyst at Pimco, says inflation in the United States is "likely to prove more sticky."

Persons: Nicola Mai Locations: United States

☆ We're expecting a mild recession at the turn of the year, Pimco says
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're expecting a mild recession at the turn of the year, Pimco saysNicola Mai, portfolio manager and sovereign credit analyst at the investment management firm, says the peak impact of monetary policy tightening occurs around 18 months after the start of a rate-hiking cycle.

Persons: Pimco, Nicola Mai

☆ Italy pushes to limit executive pay in listed state-run firms
▼ + stars: | 2023-05-04 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +2 min

Top managers' multi-million euro salaries and handsome bonuses have come into focus at a time when Italian families are struggling with an inflation rate that neared 9% in April, well above the euro zone average. According to the government draft, the Treasury will work to "contain management costs" when shareholders vote on remuneration policies at state-controlled listed companies. Monte dei Paschi already applies curbs to executives' pay as a bank that was bailed out by the state in 2017. Under terms agreed with European Union authorities, the total remuneration of any MPS executive may not exceed 10 times the average salary of its employees in 2022. Additional reporting by Gavin Jones; Editing by Gavin Jones and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

MILAN, March 25 (Reuters) - Italy's Treasury said it would confirm Luigi Lovaglio as chief executive of Monte dei Paschi di Siena , keeping the veteran banker in charge of the bank as turmoil shakes the industry. Monte dei Paschi (MPS) is due to appoint a new board of directors on April 20 and the Treasury, which owns 64% of MPS following a 2017 bailout, on Saturday said it had filed its slate of nominees for the board. He arrived at MPS just over a year ago, when the Treasury pushed out his predecessor. A merger also remains the preferred option of banking supervisors to buttress MPS' fragile profitability, a second source said. A failed attempt to sell MPS to UniCredit has forced Italy to seek more time from the EU to cut its stake.

☆ Italy to hand Monte dei Paschi CEO Lovaglio new mandate - sources
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 25 (Reuters) - Italy's Treasury is set to hand veteran banker Luigi Lovaglio a new mandate as chief executive of state-owned lender Monte dei Paschi di Siena , two people with knowledge of the matter said. Lovaglio, who built his career at UniCredit (CRDI.MI) where he eventually rose to lead the group's former Polish unit Bank Pekao, arrived at Monte dei Paschi (MPS) just over a year ago, when the Treasury pushed out his predecessor. The state owns 64% of MPS following a 2017 bailout. Lovaglio, one of Italy's most experienced commercial bankers, in November oversaw a make-or-break 2.5 billion euro ($2.7 billion) capital raise which allowed MPS to bolster capital and fund voluntary layoffs. ($1 = 0.9295 euros)Reporting by Valentina Za and Valentina Za; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

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