• EU OK to mini-budget, Italy met rules


    The European Commission said in its spring package Monday that "Italy has confirmed that its additional budget measures requested for 2017 have been taken and that therefore, in this phase, no further step is deemed necessary to respect the debt rule". After this long-awaited green light to a 3.4-billion-euro mini-budget, the EC said "further efforts were needed in 2018" to keep Italy on track. ANSA

  • China credit rating cut to A1 vs Aa3 - Moody's


    Moody's Investors Service said it has downgraded China's long-term local currency and foreign currency issuer ratings to A1 from Aa3 and changed the outlook to stable from negative. The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows. RADIOCOR

  • ISTAT revises upwards 2017 GDP to 1.0%


    ISTAT on Monday revised upwards its 2017 growth forecast from 0.9% to 1.0%, saying that "a more sustained dynamic in world trade is foreseen that should boost exports". Italy's GDP is recovering but there is a gap with the rest of the EU, ISTAT said Monday. It said Italian GDP rose 1.9% in the first quarter of 2017 while eurozone GDP rose 3.5%. ANSA

  • Britain's EU 'no deal' threat is genuine, says Brexit minister Davis


    Britain is prepared to walk away from divorce talks with the European Union without a deal, Brexit minister David Davis said on Sunday, but stressed that he thought an agreement was the most likely outcome. Wary of some in the bloc who might want to see Britain punished for leaving, Prime Minister Theresa May has said that unless she gets the kind of deal she wants from Brussels, she will withdraw without any accord. REUTERS

  • Italy Q1 asset management net inflow 27.8 bln eur


    The net inflow of investments for Italian asset management firms rose to 27.8 billion euros in the first quarter from 7.5 billion in the fourth quarter of 2016, according to the trade association Assogestioni. Assets under management totalled 1.984 trillion euros at the end of March, setting a new record, compared with 1.943 trillion at the end of 2016. RADIOCOR

  • Eurozone economic crisis over - Draghi


    The eurozone economic crisis is over, European Central Bank President Mario Draghi said . "The crisis is behind us," he said, adding that "the recovery of the eurozone is solid and ever more ample among countries and (economic) sectors". ANSA

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