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ROME (Reuters) - Rome and Brussels will start talks next week to iron out technical details for the revamp of ailing carrier Alitalia, three Italian ministers said after what they referred to as a “positive and constructive” first meeting between the two sides on Friday.
FILE PHOTO: An Alitalia Airbus A320-200 passenger aircraft takes off at Fiumicino International Airport in Rome, Italy January 15, 2018. REUTERS/Max Rossi
The new Italian government held a video call with European Union Commissioner Margrethe Vestager over Rome’s plan to nationalise Alitalia, the three ministers, who were involved in the call, said. They said they had agreed with Brussels that it was necessary to ensure economic discontinuity between the old airline and a proposed new carrier.
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(This March.4 story corrects paragraph three to make clear that GAM Holdings closure of the fund related to concerns about perceptions of supply chain finance rather than about asset valuations)
LONDON (Reuters) - A funding crisis at Greensill Capital could spill over to some of its high-risk borrowers and lead to losses for insurers and banks that have done business with the UK-based supply chain finance firm if its clients default, according to several industry experts and a review of public filings.
Greensill, backed by Softbank Group Corp’s Vision Fund, helps companies spread out the time they have to pay their bills. The loans, which typically have maturities of up to 90 days, are securitized and sold to investors, allowing Greensill to make new loans.
It’s widely accepted that mankind has had a massive impact on the planet. What’s less often acknowledged is that the damage is basically irreversible. Humans can only try to limit or correct the consequences of their 10,000-year-long assault on nature. But wilfully trying.
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ROME, March 5 (Reuters) - Italy’s state lender Cassa Depositi e Prestiti (CDP) approved on Friday a preliminary agreement to sell export agency SACE to the Treasury in a deal that will add 4.25 billion euros ($5.07 billion) to the country’s public debt, sources told Reuters.
SACE offers guarantees and financial support to Italian exporters. It also works alongside banks to facilitate companies’ access to credit, a role that has grown since the coronavirus broke out in Italy a year ago.
The Treasury wants to directly control the export agency given its importance in supporting the economy.
Rome helps SACE as a co-insurer, partly sharing its risk exposures which could potentially hurt public finances over time.
Washington denied on Friday that it was considering imposing sanctions on Lebanon's veteran central bank governor Riad Salameh, whose role in the country's financial turmoil has come under fresh scrutiny.