Italy News

Milan - Italy's largest bank Unicredit said Tuesday it had suffered a staggering 14 billion euro ($19.4 billion) loss last year as it wrote down the value of assets and increased its loan loss provisions.The bank also unveiled a strategic plan that targets gen...

Milan - Italy returned to growth in the fourth quarter last year after its longest post-war recession, official data from the Istat agency showed on Tuesday.Gross domestic product expanded 0.1 percent during the last three months of the year compared to the pr...

The European Securities and Markets Authority (ESMA) has raised doubts about whether Italian banks will be able to book gains in their 2013 results resulting from a hike in the value of stakes they hold in the Bank of Italy, newspaper...

The boxy white and grey factory of this rainy northern town makes fewer than half the washing machines it did when Italy joined the euro.

Milan - An Italian appeals court on Friday acquitted international banks JP Morgan, UBS, Deutsche Bank and Depfa Bank of fraud in the sale of derivative instruments.The Milan court judge's decision overturned a 2012 ruling which ordered the seizure of 89 milli...

Italian sledge hockey player Igor Stella has been suspended from the Winter Paralympics in Sochi after testing positive for an anabolic steroid, the Italian Paralympic Committee (CIP) said on Friday.

A Milan appeals court has acquitted four international banks, including JPMorgan and UBS, found guilty in an earlier trial of mis-selling derivatives to the city of Milan.

Paris - Jerome Kerviel, a French rogue trader who cost Societe Generale bank nearly five billion euros ($6.7 billion) in high-risk transactions, is said to be walking the 1,400 kilometres (870 miles) between Rome and Paris as a protest trek against "the tyrann...

Rome - Italy's financial police searched premises in several cities Wednesday as part of a probe into an association accused of defrauding Banca Monte dei Paschi di Siena, media reports said.Searches were carried out in Milan, Monza and Siena, including at th...

Rome - An Italian judge warned Tuesday that a "new type" of mafia organisation has taken root in Italy, after police discovered a money-laundering operation headed up by a mobster nicknamed the "Bank of Italy".Giuseppe Pensabene, a member of the powerful 'Ndr...