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☆ Italy set to appoint veteran economist Barbieri as new Treasury head
▼ + stars: | 2023-01-19 | by ( Giuseppe Fonte | ) www.reuters.com time to read: +3 min

SummarySummary Companies Barbieri to replace Rivera, who failed to win over MeloniPrevious Treasury chiefs include former PM DraghiBureaucrats in Italy get substantial say in policy-makingROME, Jan 19 (Reuters) - Italy's government is set to appoint veteran economist Riccardo Barbieri as director general of the Treasury, replacing Alessandro Rivera in the influential position, the economy ministry said on Thursday. The move marks a victory for newly installed Prime Minister Giorgia Meloni, who was looking to remove Rivera and put her stamp on key positions. "A cosmopolitan former banker and chief economist, Barbieri is one of the Treasury senior officials who liaises more frequently with Brussels," said Francesco Galietti, head of political risk consultancy Policy Sonar. MPS is 64%-owned by the Treasury following a 2017 bailout that cost taxpayers 5.4 billion euros ($5.8 billion). Rivera spent much of his career within the economy ministry, specialised in the handling of banking and financial crises.

☆ UniCredit CEO says 'we'll see' when asked about Monte dei Paschi -CNBC
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +2 min

Monte dei Paschi is 64% owned by the Italian state, which needs to eventually cut its stake to meet re-privatisation commitments given to the European Union at the time of the bailout. "I think Monte dei Paschi has taken a different direction in their strategy. And they've raised their capital, they're rationalising the bank, they're restructuring the bank," Orcel said in an interview with CNBC. So they need to do that, and then we'll see," he said when asked about a Reuters report that UniCredit was still seen as a potential buyer for Monte dei Paschi, alongside Banco BPM (BAMI.MI). Monte dei Paschi raised 2.5 billion euros in capital in December, despite rocky markets, to finance thousands of voluntary staff exits and cut costs.

☆ Italy committed to secure Intel investment over chip factory, minister says
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

MILAN, Jan 18 (Reuters) - Italy's government is determined to secure an investment by Intel (INTC.O) to build a chip factory in the country, the economy minister said on Wednesday. "Unfortunately, or luckily, we have had a change in the government: things have worldwide changed as regarding costs, but we are still committed", Minister Giancarlo Giorgetti said on the sidelines of a parliamentary audition. In her end-of-year news conference in December, Prime Minister Giorgia Meloni said she considered Intel's investment as highly strategic and would schedule a meeting with the company to explore ways to facilitate it. Giuseppe Fonte, writing by Alessia Pé, editing by Gianluca SemeraroOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's Eni, Esso, other firms' offices searched in fuel pricing probe
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

MILAN, Jan 16 (Reuters) - Italy's antitrust authority said on Monday it had searched the offices of several oil companies, including Italy's Eni (ENI.MI) and Exxon Mobil Corp's (XOM.N) ESSO Italiana unit, over alleged fuel price violations. The authority, which carried out the inspections with the help of Italy's tax police, said it was probing irregularities concerning prices being charged at the pump which were higher than those advertised, as well as failures in advertising fuel prices. Eni, Esso, Italia Petroli, Kuwait Petroleum Italia and Tamoil allegedly failed to adopt appropriate measures "to prevent and counteract this unlawful conduct to the detriment of consumers", the competition watchdog said in a statement. Fuel prices have taken centre stage in Italy after Prime Minister Giorgia Meloni's executive dropped a costly reduction in excise duties introduced by the previous government when the price of petrol exceeded 2 euros per litre. Reporting by Cristina Carlevaro, Francesca Landini, editing by Federico Maccioni, Valentina Za and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Italy's most-wanted man, Mafia boss Matteo Messina Denaro, was arrested Monday after three decades on the run. Messina Denaro, a convicted murderer who has eluded authorities 30 years, is thought to be the leader of the notorious Cosa Nostra organized crime group. A picture released by police early Monday showed Messina Denaro in a police car — visibly older than in his 1990s mugshots — alongside two officers. Matteo Messina Denaro after his arrest on Monday. In 2006, police arrested Cosa Nostra boss Bernardo Provenzano, who police named as the "Capo di Capi," or chief of chiefs, after a 43-year manhunt.

☆ Italy's Eni, Esso offices raided in antitrust probe over fuel price breaches
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

MILAN, Jan 16 (Reuters) - Italy's antitrust authority said on Monday the offices of several oil companies, including Italy's Eni (ENI.MI) and Exxon Mobil Corp's (XOM.N) ESSO Italiana unit, have been searched over alleged fuel price violations. Eni, Esso, Italia Petroli, Kuwait Petroleum Italia and Tamoil allegedly failed to adopt appropriate measures "to prevent and counteract this unlawful conduct to the detriment of consumers," the competition watchdog said in a statement. Eni had no immediate comment, while the other companies involved were not immediately available for a comment. Fuel prices have taken centre stage in Italy after Prime Minister Giorgia Meloni's executive dropped a costly reduction in excise duties introduced by the previous government when the price of petrol exceeded 2 euros per litre. Reporting by Cristina Carlevaro, Francesca Landini, editing by Federico Maccioni and Valentina ZaOur Standards: The Thomson Reuters Trust Principles.

☆ Davos draws record crowds, but its relevance is fading
▼ + stars: | 2023-01-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.

☆ Years of cat-and-mouse end as top mafioso cornered in Italian clinic
▼ + stars: | 2023-01-16 | by ( Crispian Balmer | ) www.reuters.com time to read: +5 min

He liked wearing designer clothes, expensive sun glasses and Rolex watches, he loved video games and had a taste for luxury foods. Messina Denaro was born in the southwestern Sicilian town of Castelvetrano in 1962, the son of a mafioso. A mass of these notes was found in 2006 when police caught Bernardo Provenzano, who had led Cosa Nostra after Riina's arrest. In a letter to a contact, Messina Denaro said he couldn't believe how careless Provenzano had been. Nonetheless, the fact he managed to escape arrest for so many years showed he had a fierce, loyal following.

☆ Italian police arrest most wanted mafia boss Messina Denaro in Sicily
▼ + stars: | 2023-01-16 | by ( Vladimiro Pantaleone | ) www.reuters.com time to read: +1 min

PALERMO, Italy, Jan 16 (Reuters) - Italian police said on Monday they had arrested Matteo Messina Denaro, the country's most wanted mafia boss who had been on the run for three decades, swooping on a private hospital in the Sicilian capital Palermo where he had gone for treatment. Prosecutors say Messina Denaro is a boss of Sicily's Cosa Nostra mafia. Italian Prime Minister Giorgia Meloni hailed the arrest as "a great victory for the state that shows it never gives up in the face of the mafia". Messina Denaro, who comes from the small town of Castelvetrano near Trapani, is accused by prosecutors of being solely or jointly responsible for numerous other murders in the 1990s. In 1993 he helped organise the kidnapping of a 12-year-old boy, Giuseppe Di Matteo, in an attempt to dissuade his father from giving evidence against the mafia, prosecutors say.

☆ Sicilian mafia boss arrested after 30 years on the run — the last of Italy's most-wanted crime lords
▼ + stars: | 2023-01-16 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

Matteo Messina Denaro, the boss of Sicily's Cosa Nostra mafia group, was arrested on Monday. He became a fugitive on Italy's most-wanted list in 1993, tied to a series of murders and bombings. His capture followed the arrests of other crime kingpins who had been on the run for decades. He is the last of Italy's three most-wanted mafia bosses who eluded capture for decades, per Sky News. Mafia "boss of bosses" Salvatore Riina, who spent 23 years as a fugitive, was captured in 1993.

☆ Biden, Kishida to discuss Japan ‘stepping up’ security
▼ + stars: | 2023-01-13 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

The Oval Office meeting and signing ceremony at NASA’s Washington headquarters will cap a weeklong tour for Kishida that took him to five European and North American capitals for talks on his effort to beef up Japan’s security. Japan’s defense spending has historically remained below 1% of GDP. “Japan is stepping up and doing so in lockstep with the United States,” White House National Security Council spokesman John Kirby said. Kishida also discussed with Canadian Prime Minister Justin Trudeau, Italian Prime Minister Giorgia Meloni and French President Emmanuel Macron his hopes to improve security cooperation between Japan and their respective nations. “Those days are gone.”Biden administration officials have praised Japan for stepping up in the aftermath of Russia’s invasion of Ukraine.

☆ Biden and Kishida discuss Japan ‘stepping up’ security
▼ + stars: | 2023-01-13 | by ( ) www.cnbc.com time to read: +7 min

Inside the Oval Office, the U.S. president praised Japan for its "historic" increase in defense spending and pledged close cooperation on economic and security matters. Japan's defense spending has historically remained below 1% of GDP. "Japan is stepping up and doing so in lockstep with the United States," White House National Security Council spokesman John Kirby said. Kishida also discussed with Canadian Prime Minister Justin Trudeau, Italian Prime Minister Giorgia Meloni and French President Emmanuel Macron his hopes to improve security cooperation between Japan and their respective nations. Kishida met with Vice President Kamala Harris on Friday before his meeting with Biden to discuss U.S.-Japan space cooperation and other issues.

☆ Italy's Meloni renews criticism of euro zone bailout fund
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

ROME, Jan 12 (Reuters) - Italy's Prime Minister Giorgia Meloni on Thursday renewed her criticism of the euro zone bailout fund, a 500-billion-euro ($541.55 billion) facility held back by Rome's reluctance to ratify its recently-adopted reform. The ESM was created in 2012, replacing a temporary fund established in 2010, at the height of the euro zone's sovereign debt crisis. The ESM can offer a lifeline to euro zone governments cut off from markets, or lend to recapitalise banks and provide precautionary credit. The fund was reformed with a 2021 treaty that needs to be ratified by all members of the euro zone before it can enter into force, and Italy is the only country that is dragging its feet over the issue. New ESM tasks under the reformed treaty include providing a backstop to the Single Resolution Fund, which is responsible for dealing with failing banks in the context of the Banking Union.

☆ Italian, Japanese leaders agree to form "strategic partnership"
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

[1/3] Japanese Prime Minister Fumio Kishida and his Italian counterpart Giorgia Meloni hold a news conference at Chigi Palace, in Rome, Italy, January 10, 2023. REUTERS/Remo CasilliROME, Jan 10 (Reuters) - Italian Prime Minister Giorgia Meloni and her Japanese counterpart Fumio Kishida agreed at a meeting on Tuesday to strengthen ties in a range of spheres including the economy, trade and defence, the leaders said. "We have agreed to elevate our relations to the level of a strategic partnership," Meloni told reporters in a brief statement after the meeting in Rome. Among the fields of heightened cooperation, Kishida, speaking through an interpreter, cited diplomacy, investment, railways and cinema. (This story has been refiled to remove a typo in the lead)Reporting by Gavin Jones, editing by Crispian BalmerOur Standards: The Thomson Reuters Trust Principles.

☆ Global leaders condemn assault on Brazilian government buildings
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: +7 min

Brazil's democratic institutions have our full support and the will of the Brazilian people must not be undermined. Using violence to attack democratic institutions is always unacceptable. BOLIVIAN PRESIDENT LUIS ARCE"We strongly condemn the assault on the Brazilian Congress, Palace and Supreme Court by anti-democratic groups. A return to normality is urgently needed and we express solidarity with Brazilian institutions. We categorically condemn the assault on the Brazilian Congress and make a call for the immediate return to democratic normality."

☆ Thousands more, including Hungary's Orban, bid farewell to Benedict
▼ + stars: | 2023-01-03 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

[1/3] Hungarian Prime Minister Viktor Orban pays homage to former Pope Benedict in St. Peter's Basilica at the Vatican, January 3, 2023. Vatican Media/Handout via REUTERSVATICAN CITY, Jan 3 (Reuters) - Thousands more people, including Hungarian Prime Minister Viktor Orban, paid homage to former Pope Benedict on Tuesday on the second day that his body lay in state in St. Peter's Basilica. Orban, the first head of government to pay their respects following Italian Prime Minister Giorgia Meloni, stood with his wife before Benedict's body for a few moments in prayer. Francis will preside at Benedict's funeral in St. Peter's Square on Thursday before a crowd that Vatican police say will be in the tens of thousands. Later, that one will be placed into a zinc coffin and then both will be placed into another coffin made of wood.

☆ Global reactions to the death of former Pope Benedict
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +3 min

MARKUS SOEDER, PREMIER OF THE GERMAN STATE OF BAVARIA:"We mourn the death of our Bavarian Pope. The death of Benedict XVI touches me deeply, as it does many people in Bavaria and all over the world. [1/2] Pope Benedict XVI waves as he appears for the last time at the balcony of his summer residence in Castel Gandolfo, Italy, February 28, 2013. UK PRIME MINISTER RISHI SUNAK:"I am saddened to learn of the death of Pope Emeritus Benedict XVI. CARDINAL VINCENT NICHOLS, ROMAN CATHOLIC ARCHBISHOP OF WESTMINSTER:"I am deeply saddened to learn of the death of Pope Benedict.

By acquiring MPS, UniCredit could have bridged in part the gap with domestic champion Intesa Sanpaolo (ISP.MI), which overtook it as Italy's top lender in 2020 by buying smaller peer UBI. Such a deal would have further widened the distance between the top two banks and Banco BPM (BAMI.MI), which ranks third with roughly one-fifth of their assets. Sources with knowledge of the matter have told Reuters Banco BPM together with UniCredit remain potential buyers for MPS. On Thursday, Banco BPM CEO Giuseppe Castagna was quoted as saying MPS was "too big a mouthful" for his bank to swallow. Bankers say an MPS deal could help Banco BPM loosen the grip of Credit Agricole (CAGR.PA), the French bank which this year became the single biggest investor in Banco BPM.

ROME, Dec 29 (Reuters) - Italian Prime Minister Giorgia Meloni took aim at the EU's financial institutions on Thursday, telling the European Central Bank (ECB) to be more careful in the way it communicates and saying the euro zone's bailout fund serves no useful purpose. Turning to the euro zone's bailout fund, Meloni gave no indication on whether Italy would ratify a treaty revamping the so-called European Stability Mechanism (ESM), and said she believed nobody would ever use the fund in its present form. It would also make sovereign debt restructuring in the euro zone more straightforward. Meloni, leader of the hard-right Brothers of Italy party, was strongly against the ratification of the reformed treaty when she was in opposition. Additional reporting by Alvise Armellini Writing by Gavin Jones Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's goal is several big banking groups as it works to exit MPS - PM
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

MILAN, Dec 29 (Reuters) - Italy will work to exit the capital of bailed-out lender Monte dei Paschi di Siena (BMPS.MI) with a view to creating a banking landscape with several large groups, Prime Minister Giorgia Meloni said on Thursday. Meloni said Monte dei Paschi had been "very badly handled" by previous governments leading to taxpayers spending billions of euros to prop up the Tuscan lender, whose restructuring however "appears rather solid." Italy owns 64% of Monte dei Paschi following a 2017 bailout that cost taxpayers 5.4 billion euros. Rome pumped another 1.6 billion euros into the bank as part of a 2.5 billion euro recapitalisation completed in November. In an interview on Thursday Banco BPM CEO Giuseppe Castagna said Monte dei Paschi was "too big a mouthful" for his bank to swallow.

☆ ECB should avoid things that worsen the economy, Italy PM says
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

ROME, Dec 29 (Reuters) - Italy's Prime Minister Giorgia Meloni on Thursday said the European Central Bank should avoid making "pejorative choices" and communicate well on its choices, after its decision to hike interest rates raised financial pressure on Italy. "In the current situation, it would be better to avoid making pejorative choices," Meloni told reporters at her end-of-year news conference, adding the Italian government respected the autonomy of the central bank. Earlier this month, the ECB raised its benchmark interest rate by 50 basis points as widely expected, but also signaled that more hikes would follow in the coming months. Following that move, several ministers in Meloni's right-wing government criticised the European Central Bank and said it risked helping Russia's efforts to undermine the EU economy. Reporting by Angelo Amante, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

☆ Italy PM to meet with Intel to "facilitate" chip factory investment
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

ROME, Dec 29 (Reuters) - Italy's Prime Minister Giorgia Meloni said on Thursday she would request a meeting with representatives of Intel (INTC.O) to discuss a possible multibillion-euro investment by the U.S. chipmaker in Italy. Intel earlier this year announced it aimed to build a chip factory in the country as part of a wider plan to invest as much as 80 billion euros ($85.15 billion) over the next decade in building capacity across Europe. The deal, which is expected to involve state subsidies, has not yen been finalised. "In the coming days I'll seek to schedule a meeting, to ask Intel what we can do to facilitate their investment in Italy, which I think is highly strategic," Meloni said during a year-end press conference. ($1 = 0.9395 euros)Reporting by Giselda Vagnoni, writing by Giulio Piovaccari, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

Prime Minister Giorgia Meloni may say more on this in her end-of-year news conference from around 11:30 a.m. (1030 GMT). It was unclear when the EU health committee, which started its meeting on Thursday morning, would end and what decisions it could take. The Health Security Committee is composed of officials from health ministries across the bloc and chaired by the Commission. It has met frequently at the height of the COVID-19 pandemic in Europe to coordinate policies. China has rejected criticism of its COVID statistics as groundless and politically motivated attempts to smear its policies.

☆ Italy's rightist government tightens rules for migrant rescues
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +3 min

ROME, Dec 29 (Reuters) - Italy's rightist government has approved measures to fine charities who rescue migrants at sea and impound their ships if they break a new, tougher set of rules - a move that one campaign group said could threaten lives. The NGOs' ships must also inform those onboard that they can ask for international protection anywhere in the European Union, the decree said. Captains breaching these rules risk fines of up to 50,000 euros ($53,175), and repeated violations can result in the impoundment of the vessel, it added. Since taking office in October, Prime Minister Giorgia Meloni's government has targeted the activities of sea rescue charities, accusing them of facilitating the work of people traffickers amid a surge in arrivals. The rules making it more difficult to carry out multiple rescues may flout international conventions and were "ethically unacceptable," he said.

☆ Italy's government wins lower house confidence vote on 2023 budget
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

[1/3] Italy's lower house of the parliament holds a confidence vote over the 2023 budget in Rome, Italy December 23, 2022. REUTERS/Remo CasilliROME, Dec 23 (Reuters) - The Italian government on Friday comfortably won a vote of confidence in the Chamber of Deputies, which it called to speed up approval of its expansionary 2023 budget before a year-end deadline. The government won the vote by 221 to 152. If a confidence vote is lost the government must resign but Meloni, with her ample parliamentary majority, ran no risk of this. Opposition parties have accused the right-wing ruling coalition of giving parliament insufficient time to review the budget.

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