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Tag: Italy

Italy’s Outgoing Finance Minister Says Giorgetti Right Choice as Successor
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Italy’s Outgoing Finance Minister Says Giorgetti Right Choice as Successor

MILAN (Reuters) - Outgoing Italian Finance Minister Daniele Franco gave his blessing to the appointment of Giancarlo Giorgetti as his successor, saying in a newspaper interview on Friday they shared the same ideas of what Italy needed and would certainly do well.Giorgetti, the outgoing industry minister in Mario Draghi's government and the deputy leader of the right-wing League party, looks well placed to become economy minister in a new government led by rightist leader Giorgia Meloni.Giorgetti is considered one of the League's most moderate and pro-European figures. President Sergio Mattarella is expected to give Meloni a mandate to form Italy's new government on Friday."We share the idea that Italy's economic development depends on what happens in the production system, first and for...
European Shares Dip as U.S. Inflation Data Looms; Ahold Jumps
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European Shares Dip as U.S. Inflation Data Looms; Ahold Jumps

(Reuters) -European shares edged lower on Wednesday on losses in technology stocks ahead of key inflation data from the United States, while gains in supermarket major Ahold Delhaize kept declines in check.The pan-European STOXX 600 index dipped 0.1%, tracking a second straight session of losses after a strong start to the week.A higher-than-expected U.S. Consumer Price Index report for July could spook markets after a surprisingly robust hiring report last week. Markets are expecting a high chance of a 75 basis point interest rate hike by the Federal Reserve next month as the U.S. central bank remains focused on taming decades-high inflation."Markets seem to be going into today's all-important U.S. CPI a little on the apprehensive side," Deutsche Bank strategist Jim Reid wrote."It's ce...