Andrew Davis News
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Italian industrial production fell more than economists expected in March, indicating there is little sign the country’s longest recession in two decades is easing.
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Delta Air Lines Inc. plans to return $1 billion to investors by repurchasing stock and restarting its dividend after a decade-long break punctuated by bankruptcy and the biggest acquisition in its history.
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Italy’s government has made “considerable progress” in improving public finances and should now make reducing the euro-region’s second-biggest debt a top priority, the Organization for Economic Cooperation and Development said in a report.
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Enrico Letta’s government is poised to be installed starting today, as the end of two months of political turmoil in Italy was marred by the shooting of two policemen outside the prime minister’s office in Rome.
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Two Italian police officers were shot outside the prime minister’s office in Rome today by a lone gunman while the country’s new premier, Enrico Letta, was being sworn in nearby, police said.
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Giorgio Napolitano was sworn in for a second term as Italian president, fueling hopes he can bring an end to the country’s political gridlock two months after inconclusive elections.
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Italian President Giorgio Napolitano, the 87-year-old head of state, admonished the fractious lawmakers who brought him back for a second term and pledged to break the country’s political impasse.
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Italy’s budget deficit fell last year to the European Union limit for the first time since 2008 as austerity policies offset the effects of the longest recession in more than two decades, official EU figures showed.
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Italian lawmakers will begin the election of a new president on April 18 as the legislature seeks to end a political impasse that’s left the country without a new government six weeks after elections.
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Italy’s debt will reach a postwar record this year as the recession-hit country borrows to contribute to bailouts and pay arrears to suppliers.
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