colleen barry

MILAN | As GM cuts in US, Fiat Chrysler invests in Italian plants

MILAN — Fiat Chrysler Automobiles said Thursday that its plants in Italy would return to full employment with a 5 billion-euro ($5.7 billion) investment in new cars and engine technology, including a fully electric version of the 500 city car and a plug-in hybrid Alfa Romeo compact utility vehicle. In a plan that contrasts with … Continue reading MILAN | As GM cuts in US, Fiat Chrysler invests in Italian plants

MILAN | Italy to press on with budget, asks EU sanctions be delayed

MILAN — Italy’s leader said Thursday that the government will speed up investments to help economic growth, but that the main points of its big-spending budget plan would not be changed despite the EU’s warning it is in serious breach of the rules. Giuseppe Conte told lawmakers that if eurozone countries impose sanctions against Italy … Continue reading MILAN | Italy to press on with budget, asks EU sanctions be delayed

MILAN | Italy’s doesn’t budge in clash with EU over budget deficit

MILAN  — Italy’s populist government maintained its controversial 2.4 percent budget deficit in responding to EU demands for changes, but made tweaks during a late-night Cabinet meeting Tuesday, including adding plans to sell off some government real estate. Deputy Premier Luigi Di Maio told reporters in Rome that the government was not changing the ambitious … Continue reading MILAN | Italy’s doesn’t budge in clash with EU over budget deficit

MILAN | Iran sanctions, Turkish write-down hit UniCredit profit

MILAN— The Italian bank UniCredit said Thursday that third-quarter profits dropped 99 percent due to one-off provisions to cover any settlement for alleged U.S. sanctions violations in Iran and a write-down on its Turkish unit. Net profits fell to 29 million euros ($33 million), from 2.8 billion euros in the same period last year. It … Continue reading MILAN | Iran sanctions, Turkish write-down hit UniCredit profit

MILAN | Italy stands firm against EU in budget dispute

MILAN — Italy’s leader on Monday indicated his government would stand firm in its plans to ramp up public spending, keeping alive a dispute with the European Union, which is worried the budget would increase the country’s high debts. Premier Giuseppe Conte defended the deficit-busting budget in a news conference in Rome following the noon … Continue reading MILAN | Italy stands firm against EU in budget dispute

MILAN | EU budget chief seeks to ease tensions with Italy

MILAN — The European Union’s budget chief sought to ease tensions with Rome on Friday over Italy’s rule-busting budget, after markets reacted by pushing up Italy’s borrowing costs to the highest levels in five years. Pierre Moscovici told reporters in Rome that he did not see a risk of contagion in the market reaction to … Continue reading MILAN | EU budget chief seeks to ease tensions with Italy

MILAN | Students protest Italy’s spending plans, burning effigies

MILAN  — Students across Italy demonstrated against the government’s education funding plans, in the first widespread show of dissidence against the new populist government. Students demonstrated in 50 cities, including some 3,000 who ended their protest outside the Education Ministry in Rome. Hundreds gathered in the northern city of Turin, where protesters burned effigies of … Continue reading MILAN | Students protest Italy’s spending plans, burning effigies

MILAN | Italian government pleases markets with softer deficits

MILAN — The Italian government on Wednesday softened budget deficit targets that have alarmed investors and eurozone partners, saying they would be gradually lowered after 2019. Economy Minister Giovanni Tria confirmed that the deficit to gross domestic product ratio next year would be higher than agreed by the previous government with the European Commission. But … Continue reading MILAN | Italian government pleases markets with softer deficits