Italy

Artificial intelligence bulls are dusting off an old economic theory that dates back 160 years to explain why stocks in the sector may still have more to offer, despite China's new cheap AI model DeepSeek. The tech stocks fell on January 27th after DeepSeek was launched. DeepSeek, which costs a fraction of the rival AI models but requires less sophisticated chips and is cheaper than the other AI models, raised concerns about the West's massive investments in data centres and chipmakers. The biggest one-day decline in market capitalisation of any company in history was caused by the U.S. advanced chips...

Italy aims to settle by the end of 2027 a plan enabling the usage of nuclear power again after it was prohibited almost 40 years ago, Energy Minister Gilberto Pichetto Fratin said in an interview published on Thursday by Italian everyday Il Sole 24 Ore. . Prime Minister Giorgia Meloni's conservative federal government has said little modular reactors and advanced modular reactors could assistance decarbonise Italy's most polluting markets, consisting of steel, glass and tilemaking. Nuclear-fired power plants are forbidden in Italy following referendums in 1987 and 2011 but the federal government is now drafting rules to lift the ban...

Italy's Prysmian will abandon a plan to build a plant in the United States to construct cables for offshore wind parks, the group said in a declaration seen on Tuesday. Prysmian, the world's greatest cablemaker and a significant player in offshore wind transmission, does not see a strong enough market in the U.S. for wind farms, a source close to the company informed Reuters. On Monday, President Donald Trump suspended new federal offshore wind leasing pending an ecological and financial evaluation, stating wind mills are unsightly, pricey and harm wildlife. Prysmian's choice not to build the plant was taken in...

European shares dipped on Wednesday, as bond yields surged after financiers priced in less interest rate cuts in Europe and the U.S. this year, while concerns about brand-new tariffs under Donald Trump's presidency likewise weighed on belief. The pan-European STOXX 600 closed down 0.2%, with most regional bourses also in the red. Yields across European government bonds shot up, with the those on the German standard 10-year notes striking their highest level in more than five months, mirroring a rise in U.S. Treasury yields. British federal government bonds took a larger pounding, sending the 30-year yields to a brand-new 26-year...

Czech billionaire Daniel Kretinsky's. energy holding business EPH has signed a deal to get Italian. group Enel's stake in Slovak electrical power producer. Slovenske Elektrarne, the business stated late on Wednesday. EPH will purchase Enel's 50% stake in their joint holding. company, which owns 66% of Slovenske Elektrarne, Slovakia's primary. energy utility, in which the state owns the other 34%. The deal, anticipated to close in the very first half of 2025,. formalises the alternative EPH needed to obtain the stake, EPH stated. Slovenske Elektrarne, which runs nuclear, hydro and. solar power plants, put one brand-new nuclear power unit into....

Commonwealth Fusion Systems, a private company spun off from the Massachusetts Institute of Technology, prepares what it calls the world's first gridscale combination power plant in Virginia, to generate power by the early 2030s, the company stated on Tuesday. The project, if successful, might revolutionize the worldwide energy market by tapping into an essentially endless power source, similar to that which fuels the stars. But it is a long-shot. CFS does not have regional and federal licenses, investors to money the majority of the plant's construction, and the answer to blend's leading technological question: how to get more energy out...

Norway's Vaar Energi has discovered extra oil reserves in its Countach appraisal well near the Goliat field in the Norwegian sector of the Arctic Barents Sea, the company said on Thursday. The preliminary projected gross recoverable resources encountered in the well were in between 4 million and 25 million barrels of oil equivalent, the business, which is majority owned by Italy's Eni, stated in a statement. This brings the overall approximated recoverable resources in the Countach discovery to in between 10 million and 55 million barrels of oil equivalent, it added. The discovery verifies the capacity of the Goliat ridge,...

Italian prosecutors on Wednesday opened a probe into possible murder following an explosion at a fuel depot center near Florence owned by Italian energy company Eni that killed five individuals, two judicial sources said. The sources added that district attorneys were likewise looking to see if preventative measures versus office accidents were purposefully withdrawn ahead of Monday's catastrophe. The entire website in the nearby town of Prato was taken by district attorneys, who are focusing their investigation into upkeep deal with the depot that was going on at the time of the mishap, the sources stated. Eni said on Tuesday...

Pope Francis on Wednesday called on the Syrian rebels who toppled the routine of President Bashar alAssad to stabilise the nation, and govern in a manner that promotes national unity. I hope they find political options that, without other conflicts or divisions, responsibly promote the stability and unity of the nation, the pontiff said throughout his weekly audience at the Vatican. The pope, in his very first public remarks about Syria since the ending of al-Assad's guideline, likewise called on the country's diverse religious groups to stroll together in relationship and shared regard for the good of the country. Francis,...

French digital payments company Worldline on Friday said gas roadworks accidentally harmed its network connection to its data centres in Italy, disrupting services for consumers that have yet to be resolved. The issues took place in the middle of the busy Black Friday shopping season, leading Italian company group Fipe-Confcommercio to reveal strong concern. Worldline's payment services have been interrupted because Thursday early morning, primarily in Italy however likewise in other markets, the business said on Friday. The setup of gas pipes by local authorities badly damaged our supplier's cables and network, the business stated. In an updated statement released...

Germany's leftist Sahra Wagenknecht Alliance (BSW), set to sign up with a new Social Democratled local state federal government in Brandenburg, announced plans on Wednesday to promote the primary refinery that supplies the majority of Berlin's needs to be provided with Russian oil once more. Germany stopped purchasing Russian oil in January 2023 after Russia's invasion of Ukraine. Since then, streams through the Druzhba pipeline to the Schwedt refinery - typically providing 90% of Berlin's fuel - have dropped greatly, as the EU has actually prohibited the Russian oil. The refinery, co-owned by Russian oil business Rosneft, Shell and Eni,...

Italy's Treasury stated on Wednesday it had actually launched an accelerated bookbuilding procedure to place shares in Monte dei Paschi di Siena equivalent to about 7% of the bailedout loan provider's capital. Banca Akros, which belongs to Italy's Banco BPM group, is the joint worldwide coordinator and bookrunner for the sale, Rome stated in a declaration. The deal will allow the ministry to cut its existing 26.7% stake listed below 20% by the end of this year to reveal European Union authorities it no longer manages MPS, in line with reprivatisation commitments agreed throughout a 2017 bailout. The original EU...

A surge in M&A has led to the emergence of Francesco Gaetano Caltagirone as a key player in a reshaping in Italy's financial industry. BATTLES GENERALI & MEDIOBANCA Caltagirone expanded his financial investments in Italy last year, becoming a major shareholder in the bailed out bank Monte dei Paschi di Siena and fund manager Anima Holding. Since 2021, he has become the second largest shareholder of the Milanese bank. The bank in Milan is now the second largest investor. Mediobanca, the largest shareholder in Generali, has had disagreements with Caltagirone over the leadership of the insurer in the past. Caltagirone,...

Italy's Iren stated on Friday it inaugurated a plant to recover crucial raw materials from electronic waste with a new technology that produces three time less carbon dioxide emissions than conventional processes. WHY IT is essential The Italian utility stated the plant will use a mechanical disassembly procedure and specifically developed hydrometallurgical treatment, efficient in drawing out non-noble metals to isolate and thus recuperate rare-earth elements and important basic materials. This is among the first low-impact plants in Europe to recuperate critical basic materials, Iren said in a declaration. BY THE NUMBERS The brand-new plant is able to process more...

New cars and truck sales development in Europe turned unfavorable again in November, after showing a meagre development in October, weighed by sharp declines in France and Italy, and a. stagnancy in Germany, industry information revealed on Thursday. The downturn in electrical lorry (EV) sales was only partly. offset by the growth of hybrid-electric vehicle registrations, which. topped fuel for a third consecutive month, according to the. European Vehicle Manufacturers Association (ACEA). WHY IT'S IMPORTANT European automakers are battling with weak need, high. production expenses, and handling the shift to EVs, while attempting to. ward off competition from China. BY...

Stellantis will keep all of its Italian factories open and increase output from 2026 thanks to the launch of brand-new designs, it stated on Tuesday, as part of a handle the federal government targeted at revitalising Italy's. automotive industry. For its part, Industry Minister Adolfo Urso vowed the. federal government would spend more than 1 billion euros ($ 1.1 billion). next year to support Italy's vehicle supply chain. Rome does not intend to invest the state money to subsidise. the purchase of cars and trucks in 2025, as it did this year. Urso was hosting a meeting with representatives of....

Personal equity firm Carlyle has actually consented to offer Italian firm Forgital, which makes created elements generally for the aerospace sector, to U.S. alternative financial investment firm Stonepeak, the two business stated on Monday. The deal values the Italian company more than 1.5 billion euros ($ 1.6 billion) consisting of financial obligation, two sources close to the matter told Reuters. We have high conviction in long-lasting aerospace end-market demand and think Forgital is placed to take advantage of these tailwinds, Conor Sutherland, Handling Director at Stonepeak, said in a declaration. The deal is anticipated to close in the 2nd quarter...

Europe's STOXX 600 opened on a soft note on the final day of an unstable week, with financiers assessing France's political uncertainty and awaiting euro zone inflation data to see if a larger European Reserve bank rate cut is on the cards for December. The pan-European main stock index was flat at 0815 GMT, bracing for its 5th weekly decline in six. The index was still on track for a modest month-to-month gain in three, even though the possibility of Europe being a U.S. tariff target and France's political problems have actually dampened investor belief towards the bloc, to name...

The Italian parliament on Thursday approved a bill to change town planning laws to resolve a building stalemate in Italy's financial capital Milan triggered by lots of investigations by district attorneys. The costs, dubbed Conserve Milan, was submitted by the judgment centre-right majority with the recommendation of the main centre-left opposition PD celebration. Following the clearance in the lower house, it still needs to be authorized by the Senate. Milan had actually been on a roll since 2015, when the Exposition global exhibition assisted to change the city into a hot area for developers. Ever since, it has actually attracted...

New automobile sales in Europe were flat in October, after succumbing to 2 consecutive months, market data revealed on Thursday, while the shift to totally electric or hybrid models picked up speed in the month. An uptick in overall sales in Spain and Germany, of 7.2% and 6% respectively, balance out a contraction in France, Italy and Britain, the European Car Manufacturers Association ( ACEA) stated. WHY IT'S IMPORTANT European automakers are battling with weak demand, high production expenses, and managing the shift to EVs, while attempting to fend off competition from China. BY THE NUMBERS The variety of new...

India's imports of steel over the period from April to September were led by shipments from China, according to provisional government information evaluated by Reuters on Friday, and the South Asian country stayed an internet importer of the alloy. The world's second-biggest manufacturer of unrefined steel imported 4.7 million metric lots of the ended up metal from April to September, up 42.2% from a year ago, the information revealed. China exported 1.4 million metric lots of steel to India throughout the duration, up 36.7% from a year back. Hot-rolled coil was India's most significant import, comprising 44% of general completed...

India's Tata Steel signed a. agreement with Italybased Tenova on Friday for an electric arc. furnace at its Port Talbot plant in Wales, weeks after Britain's. most significant steelworks ended blast furnacebased production. The closure of the last blast heating system at Port Talbot, when. the largest steel operates in Europe, was the conclusion of. decades of decrease in Britain's steel industry, which has. had a hard time to compete with inexpensive imports. The plan was for the Tata Steel-owned site to be based on. a 3 to four-year-long decarbonisation strategy to build an. electric arc heating system which will...

storyp1> MARANELLO, Italy, Oct 17 (Reuters) Ferrari RACE.MI on Thursday unveiled its brand-new limited edition supercar, which incorporates features from Stamina motor competitions and Formula 1 and has already offered out despite its 3.6 million euro ($3.9 million) base cost. The hybrid butterfly-door F80 is a highlight in Ferrari's model roll-out technique aimed at keeping its rich consumers engaged, as it prepares to introduce its first and so far highly secretive purely electrical cars and truck at the end of next year. The F80 is the cars and truck which raises the bar of our range, Chief Marketing and Commercial...

Shares in Moncler and LVMH were sharply greater in early trading on Friday after the owner of Louis Vuitton and Moet & & Chandon champagne invested in the Italian outerwear specialist, in a deal which will provide it a seat on the board. Under the deal announced late on Thursday, LVMH acquired a. 10% stake in Double R, the financial investment lorry managed by the. CEO's Ruffini Partecipazioni Holding, which presently has actually a. 15.8% stake in Moncler. Moncler shares, which had fallen 6.5% up until now this year, were. up as high as 10% in morning trading, set for...