Reuters UK Business

By Valentina Za MILAN (Reuters) -Prosecutors in the southern Italian city of Bari are investigating an alleged data breach at the country’s biggest bank Intesa Sanpaolo, in which Prime Minister Giorgia Meloni’s account may have been accessed. Here is what we know about the incident so far. WHAT HAPPENED? An Intesa employee at a branch …

What do we know about the data breach at Intesa Sanpaolo? Read More »

MILAN (Reuters) -Italy’s economic growth this year and next will be weaker than the government’s targets of 1% and 1.2% respectively, the International Monetary Fund (IMF) and the country’s main business lobby said on Tuesday.  The euro zone third-largest economy will expand by 0.7% in 2024, in line with last year’s rate, the IMF said …

Italian growth to be weaker than government targets, IMF and business lobby say Read More »

MILAN (Reuters) -Italian luxury group Ermenegildo Zegna reported a drop in third-quarter underlying revenues on Tuesday, joining rivals in flagging a slump in demand in China. The company, whose brands include ZEGNA, Thom Browne and Tom Ford, said organic revenues – excluding foreign exchange moves, acquisitions and disposals, and changes to licensing agreements – fell …

Ermenegildo Zegna sales drop 7% in third quarter as China weighs Read More »

By Ilona Wissenbach FRANKFURT (Reuters) -German automotive supplier ZF intends to withdraw from a planned $3 billion microchip manufacturing project with U.S. chipmaker Wolfspeed in western Germany, an industry source said on Tuesday. The rethink followed Wolfspeed’s decision to put the project on hold because of weaker than expected semiconductor demand and doubts whether its …

ZF to quit Wolfspeed’s German chip project, says industry source Read More »

By Alban Kacher (Reuters) -French investment company Wendel will acquire U.S. asset investment firm Monroe Capital, it said on Tuesday, with an initial investment of $1.13 billion for 75% of the company’s shares. With the acquisition, Wendel said it expects to benefit from the surge in demand for private credit solutions and to further build …

France’s Wendel to acquire Monroe Capital for $1.13 billion Read More »

WASHINGTON (Reuters) -Euro zone inflation is easing and may fall back to 2% quicker than previously thought, supporting the case for further European Central Bank rate cuts, ECB President Christine Lagarde said on Tuesday. The ECB has already cut rates three times this year from a record high, and markets see policy easing at each …

ECB’s rate cut direction clear, pace up for debate, Lagarde says Read More »

(Reuters) -Barclays has re-entered negotiations with Brookfield Asset Management about a deal to sell a stake in its British merchant payments business to the Canadian asset manager, Sky News reported on Tuesday. A deal would make Brookfield a majority stakeholder in Barclays’ merchant payments business, while providing the capital needed to fund the unit’s growth, …

Barclays re-enters talks with Brookfield about deal for UK payments business, Sky News reports Read More »