MILAN (Reuters) – Italy’s Treasury has injected 1 billion euros ($1.1 billion) into bad loan manager AMCO through a capital hike, increasing the firepower of the state-owned company to 1.8 billion euros, AMCO said on Friday. AMCO, which is fully owned by the Treasury, completed the acquisition of a portfolio of soured loans with a […]
World News
United cancels 737 MAX flights into June as Spirit AeroSystems to freeze parts production
By Ankit Ajmera and David Shepardson (Reuters) – United Airlines Co is extending its cancellations of Boeing 737 MAX flights until June 4 as Boeing’s top supplier, Spirit AeroSystems Inc, <SPR.N> said it would stop making fuselages for the grounded jets. United’s announcement is the longest that any U.S. carrier has scheduled for the grounded […]
Brexit optimism puts European stocks within spitting distance of record high
By Ambar Warrick and Medha Singh LONDON (Reuters) – European stocks came close to a record high on Friday as further confirmation of a Jan. 31 Brexit date saw investors buying into markets that have been roiled by uncertainty for more than three years. British Prime Minister Boris Johnson won approval for his Brexit deal […]
Canadian retail sales decline revives Bank of Canada rate cut bets
By Kelsey Johnson OTTAWA (Reuters) – Canadian retail sales plummeted unexpectedly in October, the latest in a series of disappointing economic data releases that analysts say could force the Bank of Canada to consider a rate cut. Statistics Canada said on Friday that retail trade dropped by 1.2% on lower sales of motor vehicles and […]
Battered Mexican construction sector hopes to exit slump in 2020
By Sharay Angulo MEXICO CITY (Reuters) – Major infrastructure projects recently announced by Mexico’s government and the private sector could next year pull the construction industry out of a protracted slump, though the boost to the economy is unlikely to be significant. Representing some 7.5% of total economic output, construction has contracted for 16 consecutive […]
United Airlines pulls Boeing 737 MAX jets until early June
By Tracy Rucinski and David Shepardson CHICAGO/WASHINGTON (Reuters) – United Airlines Holdings Inc <UAL.O> said on Friday it is extending cancellations of Boeing 737 MAX flights from early March until June 4, the longest that any U.S. carrier is scheduling without the grounded aircraft. The decision follows comments from the U.S. Federal Aviation Administration (FAA) […]
FCA sticks to investment plan for Italy, no redundancies: unions
TURIN, Italy (Reuters) – Fiat Chrysler <FCHA.MI> will stick to its 5 billion euro ($5.5 billion) 2020 investment plan for Italy, union officials said on Friday, adding that the group had confirmed a pledge to get all employees off furlough arrangements and back to work by 2022. Executives of the Italian-American carmaker and representatives for […]
Novartis wins Medicaid approval for new sickle cell drug in key U.S. states
By Carl O’Donnell and Tamara Mathias (Reuters) – Novartis AG <NOVN.S> has secured Medicaid coverage for a pricey new sickle cell disease therapy in two U.S. states just weeks after winning U.S. approval, following an early campaign to convince local officials of its value, according to a company executive and a Reuters review of public […]
Bank of Italy reform in spotlight after latest bank bailout
By Giuseppe Fonte and Gavin Jones ROME (Reuters) – Italy’s ruling coalition may change the way the country’s central bank exercises its supervisory powers, a senior politician said on Friday, following the costly bailout of a small southern bank. In the latest of several state rescues of ailing lenders, the government this week approved an […]
Swedbank says there was risk it was used to launder money in Baltic
STOCKHOLM (Reuters) – Sweden’s Swedbank <SWEDa.ST> repeated on Friday that there was a risk it had been used to launder money, in a response to requests for comment by the Estonian and Swedish financial watchdogs on their separate probes into the bank. Sweden’s oldest retail bank dismissed its CEO earlier this year and accepted the […]