Italy
Italy Municipalities May Face Derivatives Ban Amid $3.4 Billion of Losses Italy, whose cities, regions
and government face potential losses of 2.5 billion euros
($3.4 billion) on derivatives, may restrict their use among
municipalities by boosting oversight and banning upfront
payments.
Chrysler in Hibernation Means Marchionne May Have to Wait on Fiat Spinoff Fiat SpA, the Italian carmaker that
helped Chrysler Group LLC emerge from bankruptcy, may wait to
turn around the U.S. business before deciding on a share sale
or spinoff for its automotive division.
Berlusconi's Control of Italian Media Industry Criticized by Soros Group Italian Prime Minister Silvio
Berlusconi’s effective control of the country’s television
market limits the public’s access to information, a group linked
to billionaire George Soros said.
Italian Stocks Reverse Gains; Eni, Fiat, Intesa, Pirelli, Piaggio Active Italy’s benchmark FTSE MIB Index
reversed previous gains, losing 97.80, or 0.4 percent, to
22,540.85 in Milan.
Eni Cuts 2009 Net Income on Provisions for Settling Nigerian Probe Claims Eni SpA, Italy’s largest energy
company, said a provision for legal proceedings against the TSJK
Nigerian venture reduced 2009 earnings by 250 million euros
($341 million).
Snam Rete Gas Monitoring for Eventual Acquisition Opportunities in Europe Snam Rete Gas SpA Chief Executive
Officer Carlo Malacarne said the company’s acquisition strategy
is to monitor for “possibilities of expansion” in Europe,
waiting for European common rules, speaking in a conference call
with analysts today.
Elia System Operator, Gemalto, IRIS Group, Thenergo: Europe Equity Preview The following companies’ shares may
be active in European trading. Stock symbols are in parentheses
and share prices are from the last close.
Finmeccanica's Agusta Westland Wins $764 Million Helicopter Order in India Finmeccanica SpA said in a
statement that its AgustaWestland unit won a 560 million-euro
order for 12 helicopters from India’s military.
Mondadori, Safilo, Seat Pagine Gialle Will Join FTSE Italia Mid-Cap Index Arnoldo Mondadori Editore SpA will
enter the FTSE Italia Mid-Cap Index after the market closes on
March 19, FTSE Group said in an e-mailed statement yesterday.
Pirelli & C. Stock Upgraded to `Outperform' From `Neutral' at Mediobanca Pirelli & C. SpA, Europe’s third-
largest tiremaker, was upgraded to “outperform” from
“neutral” at Mediobanca SpA, which cited a “deeply improved
outlook.”
Red-Coral Rescue Plans Endanger Italian Jewelry Makers of Torre del Greco The people of Torre del Greco, 10
miles south of Naples, have lived off the red corals found in
the Mediterranean Sea for more than two millennia. A proposal to
list the species as endangered may push the seaside town’s $217
million-a-year coral industry into extinction.
Italy's Biggest Labor Union Plans Strike Tomorrow to Protest Job Losses Workers belonging to CGIL, Italy’s
biggest labor union, will walk off their jobs tomorrow for four
hours to protest cuts at companies such as Fiat SpA, Alcoa Inc.
and Antonio Merloni SpA.
Parmalat Founder Tanzi's Hidden Luxury Yacht Seized by Italian Police The 16-meter (53-foot) yacht
Boobies owned by Parmalat SpA founder Calisto Tanzi was seized
by police almost seven years after the collapse of Italy’s
biggest dairy company led authorities on a hunt for his assets.
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