Italy

Valdis Dombrovskis, EU Economy Commissioner, said that the extension of a waiver for Russian sanctions showed that 'G7 members are not always in agreement. Dombrovskis stated that the G7 was a forum to discuss and cooperate with like-minded allies. He said, "But, well... we're not always 100% in agreement on everything. This is unfortunately one of those topics." He praised, however, the joint statement after the G7 meeting. It was said to be a positive outcome of the meeting between the central bank governors and finance ministers. Dombrovskis stated that he was reassured by the United States, who said that...

A top government minister announced on Tuesday that Italy would extend a 'cut in fuel excise duty due to expire May 22 as part of efforts to curb the soaring energy prices caused by the Middle East conflict. Matteo Salvini, Deputy Prime minister and Transport & Infrastructure Minister, said during an interview with RTL 102.5 that "we will definitely have to extend the excise reduction." It has spent about?1 billion Euros ($1.16 billion), so far, to reduce?excise duty on?petrol or diesel pump prices. The measure was first introduced in March, and then extended for the first time in late April....

Marco Rubio, Secretary of State on Friday, said that the United States could have a productive relationship with the Catholic Church despite tensions over President Donald Trump's repeated criticisms of Pope Leo. Rubio visited the Vatican Thursday and told reporters that the meeting had been "very positive" before departing Rome. Rubio, when asked about Trump's criticism of Leo for his comments about the Iran War and other issues, said that Trump acts to the benefit of the U.S. Rubio said that Trump acts in the best interest?of the U.S. and "will always speak clearly about how he feels about the?U.S....

Pirelli announced on Wednesday that it would begin producing Cyber Tyres for the United States after Italy curbed its influence with Sinochem, the Chinese investor of the premium tyre manufacturer, in an effort to aid the company's expansion across the Atlantic. Italy's government resolved a dispute last month over Sinochem’s stake in Pirelli by using "golden powers". Sinochem, Pirelli's largest shareholder with a stake of 34.1%, was the cause of the dispute. Sinochem fears that Pirelli may fall foul of U.S. regulations restricting use of Chinese technology within?the automotive sector. Pirelli announced that it would manufacture its connected Cyber Tyre...

Eni, Italy's energy producer, signed a deal with Venezuela's oil ministry and the state-run PDVSA on Tuesday to "relaunch" a heavy crude project within the Orinoco belt. PDVSA has been working with its key partners to sign preliminary agreements that confirm their interest in oil and gas projects or allow them to expand. This is as the government continues a broader?review on all contracts within the oil industry in order for the reform. In recent weeks, U.S. Chevron, British Shell, and Spain's Repsol have also signed similar agreements in order to confirm or expand their partnerships. The agreement with Eni...

Italy has placed new restrictions on Sinochem in an effort to stop a slap on Pirelli's governance, according to people familiar with the matter. Pirelli's largest shareholders Sinochem, a Chinese state-owned company, with 34% of the shares, and Camfin (the investment vehicle of Marco Tronchetti Provera as Executive Vice President), with 26% of the shares, have been involved in a long-running dispute. Tensions grew ahead of the new U.S. regulations that would restrict the use of "Chinese" technologies in the automobile sector. Both Pirelli & Camfin called for "curbs" on Sinochem's ownership, stating that this would complicate Pirelli expansion plans...

Eni, an Italian company, has agreed to purchase a'minority stake' in the natural graphite -producer Nouveau Monde Graphite. This will give Eni access to a critical material that is used in a fase of?energy transition technologies and battery storage. The Italian energy group will be able to enter the vital minerals value chain through the investment in the Canadian firm at a moment when European companies are looking to reduce their dependency on materials that come from China. Eni will be able to negotiate exclusive agreements to supply graphite, and other materials in support of its 'gigafactory' initiative to produce...

The Italian Treasury confirmed an earlier report that Lorenzo Mariani would be the new Chief Executive Officer of Leonardo Defence Group, replacing Roberto Cingolani. Rome, as expected, also proposed the reappointment of Claudio Descalzi at Eni's helm and Flavio Cataneo, Enel's, to their respective energy groups. Cingolani did not win a second term, despite a rise in sales and orders at the state-controlled group since he became its leader in 2023. He also secured a number partnerships with European competitors. Leonardo's shares, which had more than quadrupled in value under Cingolani, dropped this week amid reports of his possible removal,...

Confindustria, Italy's leading business lobby, forecast that the economy would grow by 0.5% in this year. This is a reduction from the 0.7% it had predicted in October. It also warned of'strong' 'downside risks' if the Iran conflict continues. The third largest economy in the Eurozone saw its gross domestic product rise by 0.5%, marking the third consecutive year of growth below 1%. Confindustria stated in its bi-annual report that the 0.5% growth scenario for 2026 was based on an "optimistic hypothesis" that?the conflict in Iran would be over by March's end. The business group warned that if the hostilities...

France and?Italy opened talks with Iran on Friday to?negotiate a deal that would guarantee safe passage of?their vessels through?the Strait of?Hormuz. However, Italy denied this report. Since the U.S. began its strikes against Iran on February 28, shipping in the Gulf, and along the Strait of Hormuz - which carries a fifth of all the oil on the planet - has been at a standstill. Global oil prices have soared to levels not seen since the year 2022. The FT reported that France is one of the European nations engaged in talks with Tehran while Italy sought to contact the...

Italy's Energy Minister?said Wednesday that the country could reactivate some coal-fired?power stations if conflict in?the Middle East leads to an energy shortage. Gilberto Pichetto Fratin, Minister of Energy and Environment in Italy, said that "there are coal-powered stations in Italy that I would not like to reactivate. But they're there in reserve for our country." Israeli and U.S. Forces?struck Iranian targets on Tuesday. This prompted Iranian strikes against energy infrastructure in other Gulf States considered U.S. Allies in a area that accounts for just under a third global oil production. Iran also targeted tankers in the Strait of Hormuz. Through...

Spanish stocks slid Wednesday following fresh threats of a trade embargo from the White House. Other regional benchmarks also climbed after a brutal global sell-off that dragged stock prices to more than one-month lows amid fears about the Middle East conflict. The pan-European STOXX 600 index was up 0.6% to 607.92 by 0939 GMT. This follows two sessions in which the index lost more than 4% since Friday's record high. The benchmark index rose the most in the Technology and Healthcare sectors. The STOXX Volatility Index, Europe's fear gauge after four sessions of gains, has slipped 2.3 points. Spain also...

On Thursday, the mayor of Paris warned busy Parisians that they should slow down as large parts Western Europe remain in the grips of a deadly, heatwave which has killed dozens of people, caused power outages, and closed schools and cultural landmarks. In the face of a heatwave in France, Sebastien lecornu activated the highest health service mobilisation level. This meant that non-urgent procedures could be cancelled so as to concentrate on those who are affected by the weather. Paris experienced another scorching day on Wednesday after temperatures in France's capital reached a record high of 40.9 degrees Celsius (105.6...

Children at the Harris Primary Academy Mayflower, located in Chafford Hundred just east of London cooled off by slurping ice lollies and splashing in paddling pools. Advikhaa said, "I feel cooler and airier" about the special measures. These include allowing the children to swap their school uniforms with lighter clothing. The aim is to make it easier for the children to cope with the high temperatures. Thousands of schools across Europe sent their pupils home because they couldn't find a short-term solution to the record-breaking heat. Many schools cannot protect their students from heat because such incidents are becoming more...

The heatwave that swept across Europe Sunday was so severe, temperatures reached as high as 40 degrees Celsius (104 Fahrenheit), causing transport disruptions and widespread warnings. The extreme heat on June 21, also known as the "summer solstice" in the northern hemisphere, and the beginning of the hottest three months of the year raised fears of a persistent and early onset of extreme weather conditions. Italian authorities have issued a red warning for the 21st of June in eight cities including Bologna. Florence, Milan and Turin. The Pope, who was leading a Sunday tradition from a window in the Apostolic...

As temperatures reached record highs, the punishing heatwave that swept across Europe led to emergency meetings in France, warnings for all of Germany, and stress on residents and tourists in Italy. Sebastien Lecornu, the French prime minister, was to convene a crisis conference on Saturday. The national weather agency Meteo France had warned that the heat wave would continue into the next week. It compared it to "major episodes" in 2003 and 2019 Forecasters predicted that temperatures between 39 and 40 degrees Celsius could reach 41C in some parts of Burgundy by Sunday. On Monday temperatures are likely to reach...

According to a?research project led by Italy that analyzed?seawater samples worldwide, the presence of genes?linked to resistance to antibiotics is present in multiple 'ocean basins including remote waters. The SeA Care project found antibiotic-resistance genes in the Mediterranean, Atlantic, Arctic and other regions, with higher concentrations detected near busy shipping routes and densely populated coastal areas. Researchers said that the results showed oceans as a global repository for pollution coming?from land. They also found genetic traces from antibiotic use and urban discharges far beyond their sources. Researchers added that this could facilitate their spread to remote communities. The study was...

According to the findings of an Italian-led project that analysed seawater samples from around the world, genes linked to resistance to antibiotics are present in multiple?ocean areas, including remote waters. The SeA ?Care project found ?antibiotic-resistance ?genes in the Mediterranean, Atlantic, Arctic and other regions, with higher concentrations detected near busy shipping routes and densely populated coastal areas. Researchers said that the results show oceans are a global reservoir of pollution from land. They carry genetic traces of antibiotic use and urban discharge far away from their source. Researchers added that this could facilitate their spread to remote communities. The...

Pope Leo, who was visiting an area in Italy that is known for its illegal dumping toxic waste, called out firms that seek to make "dizzying profits" at the cost of pollution. The first U.S. Pope, on a trip to Acerra (about 220 km south of Rome), urged people to "reject the temptations of wealth and power linked to practices which pollute land, air, water and social coexistence." Leo wanted to go to the area near Naples, known as "Land of Fires", in which the European Court of Human Rights found last year that authorities had failed to protect residents...

According to a report by the U.N. food and weather agencies, extreme heat is pushing the global agrifood system to the edge, and threatening livelihoods and the health of over a billion people. Heatwaves are getting more intense and longer, causing damage to crops, livestock and fisheries. Extreme heat changes the rules of what and when farmers, fishermen and foresters are allowed to grow. It can even dictate if people are able to work, said Kaveh Zaidi, the head of FAO's climate office. "At its heart, this report tells us that we are facing a very uncertain tomorrow,"?he said. Recent...

Stellantis announced on Thursday that it would stop producing new cars at its Poissy factory near Paris in a period of?three to four years as it works to reduce excess manufacturing capacity across Europe. Jeep and Peugeot are facing a 'chronic' overcapacity problem in the region where auto sales still haven't returned to pre-pandemic numbers. Stellantis' situation has been exacerbated by rapid gains made by Chinese low-cost competitors, as well as slower than expected progress towards electric vehicles. Stellantis was forced to announce a $25 billion write-down in the first quarter of this year. After talks with the unions, a...

Generali, Italy's largest insurer, posted a record profit on Thursday, driven by the company's entire business. It also announced that it would be preparing a 500-million euro ($577.1-million) share buyback. This highlights Philippe Donnet's focus on shareholder returns. Generali's first full-year result since Donnet critics took over the company saw an operating profit record of 8 billion euro, up 9.7%. The adjusted net profit also rose by 14.5%, reaching a new high of 4.3bn euros. Both figures were in line with the analyst consensus provided by the company. Generali said in a press release that lower natural catastrophe claims helped...

The protest was against the housing costs, and the environmental concerns associated with the Winter Games. The "Olympics?" rally was organized by university groups and associations that oppose hosting an event they say disrupts forests, pours concrete onto fragile land and deepens social inequality. The rally, "Olympics? "We're here to protect our territory against speculation...and from the impossible cost of attending events," Giannina, a 76 year old activist said. Tickets were priced between 950 euros and 2,900 euros. The ceremony began at 8:30 pm (1930 GMT), inside Verona’s ancient Roman Arena. The banner said: "Fewer Games, more homes." Francesca (34),...

Heavy snowfall forced schedule changes, and the 'Winter Olympics' freestyle skiing events of the halfpipe and aerials were rescheduled for Thursday in Livigno. Meanwhile, both women & men had to train at the same time for the 'biathlon mass-start. The organisers are confident that the weather will not cause any major disruptions, as the Games end on Sunday. The men's final and qualifiers for aerials were moved to Friday at 0930 GMT. Meanwhile, the men's qualification runs in halfpipe were moved an hour later. The organisers confirmed that the women's semi-pipe qualifiers will begin at 1830 GMT, as soon as...