Il Sole 24 Ore News
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The Italian government plans to press Fiat SpA Chief Executive Officer Sergio Marchionne over concerns he’s shifting the carmaker and heavy truck manufacturer Fiat Industrial SpA away from the country.
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Italy’s economy contracted more than forecast in the three months through March as weak domestic demand extended a recession to its seventh quarter.
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European stocks closed little changed, as the benchmark Stoxx Europe 600 Index extended its highest level since June 2008.
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The Italian government won’t need to make more budget cuts this year to finance a plan to ease taxes, and it remains committed to suspending payment of an unpopular property levy, Finance Minister Fabrizio Saccomanni said.
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Italian Finance Minister Vittorio Grilli, who has led a crackdown on tax evasion, bought his Rome apartment partly with funds from a Channel Islands account and then avoided sales tax on renovations by paying cash for about half the costs, Il Sole 24 Ore newspaper reported, citing documents it obtained.
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The Fondazione Monte dei Paschi di Siena has its headquarters in the baroque Palazzo Sansedoni overlooking the Italian city’s main square. It was there, one day in November, that Chairman Gabriello Mancini delivered the bad news: The foundation, which for 15 years had supported the districts that compete in the renowned Palio horse races, could no longer pay for the spectacle’s colorful medieval costumes.
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The Libyan Investment Authority raised its stake in UniCredit SpA to 2.59 percent from 2.08 percent after buying about 100 million shares, Il Sole 24 Ore reported, without saying where it got the information.
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Nobel Prize-winning economist Paul Krugman told Il Sole 24 Ore that Greece could be forced to abandon the European single currency.
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UniCredit SpA plans to discuss Libyan government investments in the bank on Sept. 23, ahead of a board meeting later this month, Il Sole 24 Ore reported without saying where it got the information.
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Fiat SpA, Italy’s biggest carmaker, agreed with banks to refinance 4 billion euros of debt before the spinoff of the company’s industrial unit, Il Sole 24 Ore reported, without saying where it got the information.
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