Tag Archives: Italy

Italy fines car finance cartel 678 million euros

Italy’s anti-trust authority said on January 9 it has fined a swathe of top car makers, including BMW, Fiat-Chrysler, Ford and Toyota, 678 million euros (USD 776 million) for operating a financing cartel. The car manufacturers and their respective banks which offer financing to customers purchasing vehicles were found guilty of running a cartel from 2003 to 2017, the AGCM ... Read More »

Finance Chiefs Face Fresh Crisis Worries Amid Italy Turmoil

Global finance chiefs will be back in crisis-management mode this week as the Group of Seven grapples with the market shock waves from Italy’s political woes. Finance ministers and central bankers from the G-7 nations — who oversee almost half of the global economy — begin three days of meetings at the Canadian ski resort town of Whistler, British Columbia on Thursday ... Read More »

ECB’s Villeroy: can’t compare Italy “No” vote to Brexit

Italian voters’ defeat of a referendum on constitutional reforms cannot be compared to Britain’s vote to leave the European Union, European Central Bank policymaker Francois Villeroy de Galhau said on Monday. Policymakers will still look closely at the consequences of Italy’s decision, Villeroy, who is also governor of the Bank of France, said at a seminar in Japan. Villeroy also ... Read More »

Euro skids, shares hit after Italy votes ‘no’ on reform

The euro fell to a 20-month low on Monday and investors fled riskier assets after Italian Prime Minister Matteo Renzi said he would resign following a stinging defeat on constitutional reform that could destabilize the country’s shaky banking system. Renzi’s defeat deals a body blow to a European Union already reeling under anti-establishment anger that led to the shock exit ... Read More »

Bond yields slip on U.S. jobs data, euro steady before Italy vote

Bond yields fell on Friday as solid U.S. jobs data reinforced the view that the Federal Reserve would raise interest rates gradually, while stock and currency markets were cautious ahead of an Italian constitutional reform vote on Sunday. Crude futures rebounded on a weaker dollar, resuming a rise sparked by a cut in oil output agreed this week by the ... Read More »

EU, Italy reach preliminary deal on fund for savers hit by bank rescues – spokesman

The European Commission and Italy have reached a preliminary accord over the creation of a fund to help compensate savers hit last year by a state rescue of four small lenders, a commission spokesman said on Friday. “There are constructive talks ongoing between the Commission and Italian authorities. We have agreed on the important parameters. It is now in the ... Read More »