Jeffrey Immelt clinched General Electric Co.’s biggest acquisition ever, the $17 billion purchase of Alstom SA’s energy assets, after the resolution of the French government’s last condition for the deal.
Prime Minister Matteo Renzi won Italy’s European Parliament elections with the biggest share of the vote in more than half a century, turning away a populist tide that overwhelmed governments in Paris and London. Italian bonds surged.
The weekend announcement by Italian Prime Minister Mario Monti that he will resign triggered a rush to sell off Italian debt and stocks, as investors blanched at the uncertainty that will follow the departure of “Super Mario.”
Italian Prime Minister Mario Monti and one of his challengers in next month’s elections, Silvio Berlusconi, sparred over the government’s unpopular property tax and economic policy in a weekend media blitz.