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Strong earthquakes hit central Italy; no deaths reported


ROME A series of strong earthquakes rocked a wide area of central Italy on Wednesday, striking fear among residents rattled by a deadly tremor in August, but there were no reports of casualties and few serious injuries. | Video


EU executive asks Italy to explain rising 2017 budget deficit 25 Oct 2016

BRUSSELS The European Commission asked Italy on Tuesday to explain why its 2017 structural budget deficit is rising instead of falling as requested by EU finance ministers and why the headline budget gap is to be much higher than Rome promised in May.


PM says Italy cannot handle rate of migrant arrivals 25 Oct 2016

ROME Italian Prime Minister Matteo Renzi on Tuesday said that the country cannot handle the same number of migrant arrivals next year that it has seen in 2016, calling on other European countries to do more.

Saipem cuts more jobs as crisis drags on 25 Oct 2016

MILAN Italian oil contractor Saipem will cut 800 more jobs across Europe in the next four years as part of a plan to cope with a prolonged market crisis that will trim revenues next year.


Italy's Renzi bullish on growth ahead of referendum 25 Oct 2016

ROME Prime Minister Matteo Renzi said on Tuesday he was optimistic Italy's economy would grow by 1 percent this year, just a few weeks after he cut the official forecast to 0.8 percent.


Sales surge at Kering's Gucci, slip at sister brand 25 Oct 2016

PARIS Italian fashion brand Gucci confirmed its turnaround with a 17 percent rise in third-quarter comparable sales, helping make up for a 10.9 percent sales drop at sister brand Bottega Veneta, parent Kering said on Tuesday.


Italian bank Monte Paschi gambles on turnaround by year-end 25 Oct 2016

MILAN Italian lender Monte dei Paschi di Siena plans to lay off a tenth of its staff, shut branches and sell assets to win investor backing for a 5 billion euros (£4.45 billion) cash call that could shape the fortunes of the wider banking sector. | Video


Monte dei Paschi to offer debt conversion to all bondholders 25 Oct 2016

MILAN Italy's Monte dei Paschi di Siena plans to offer a voluntary debt-to-equity swap to all holders of its 5 billion euros (£4.45 billion) in subordinated bonds, including retail investors, the bank's top executives said on Tuesday.


Italy's Monte dei Paschi postpones capital plan to Tuesday - sources 24 Oct 2016

MILAN Italy's Monte dei Paschi di Siena has postponed the release of a statement on a capital-boosting strategic plan and third-quarter results to Tuesday, sources close to the matter said, without giving a reason for the delay.


Italy's front line in fight to save banks - a storage room 23 Oct 2016

MILAN Storage rooms crammed with loan documents have emerged as a hidden front line in Italy's battle to save its banks from the threat of financial crisis.


Islamic State holds up Iraqi army south of Mosul

QAYYARA/BAGHDAD, Iraq Islamic State fighters kept up on Wednesday their fierce defence of the southern approaches to Mosul, which has held up Iraqi troops there and forced an elite army unit east of the city to put a more rapid advance on hold. | Video