If ever a few sentences can change a lot than this might be Beppo Grillos announcement from today:
Italy's maverick 5-Star Movement should cut ties with the anti-European Union U.K. Independence Party (UKIP) and consider hooking up with the Liberals in the European Parliament, 5-Star founder Beppe Grillo said on Sunday.
If the switch in allegiance goes ahead, it would see 5-Star enter mainstream European politics and move away from the anti-system fringes, a shift that might reassure other EU capitals that have grown uneasy about its rising popularity.
Writing on his blog, Grillo said his party was in talks with the Alliance of Liberals and Democrats for Europe (ALDE) and asked 5-Star members to back the initiative in an online ballot.
ALDE is headed by former Belgian prime minister Guy Verhofstadt. He is a keen European federalist and his strong, pro-EU views would seem at odds with the euroskeptic 5-Star.
UniCredit says will complete cash call in time for bond payouts
Stock Markets15 minutes ago (Jan 12, 2017 09:18AM ET)
By Valentina Za and Gianluca Semeraro
MILAN/ROME (Reuters) - The chief executive of Italy's biggest bank UniCredit (MI:CRDI) pledged on Thursday to complete a 13 billion euro ($14 billion) share issue by March 10, in time to make payouts due on high-risk bonds that came under pressure on the market.
UniCredit's shareholders met on Thursday to approve Italy's biggest corporate cash call to help clean up its balance sheet and restructure under new CEO Jean Pierre Mustier, distancing itself from the protracted banking crisis.
Responding to market watchdog Consob, UniCredit on Thursday clarified the cash call had not been requested by European Central Bank supervisors.
UniCredit detailed a plan last month to offload 17.7 billion euros in bad loans and cut 14,000 jobs. It said then that loan writedowns would make up two thirds of 12.2 billion euros in one-off charges it would book in the last quarter.
Economic Indicators7 minutes ago (Jan 24, 2017 03:03AM ET)
Investing.com - French private sector activity rose at the fastest rate in five-and-a-half years in January, adding to optimism over the economic outlook of the euro zone’s second largest economy, according to data released on Tuesday.
The preliminary reading of the Markit services purchasing managers’ index came in at a nineteen-month high of 53.9 this month from 52.9 in December.
Economists had forecast an uptick to 53.2.
The manufacturing PMI ticked down to 53.4 from 53.5 a month earlier, in line with forecasts.
The composite output index, which measures the combined output of both the manufacturing and service sectors rose to 53.8 from 53.4, beating expectations for 53.3. Source: https://www.investing.com/news/economic-...