Prime Minister Giorgia Meloni's government has secured final approval for a new electoral law, known as the Melonellum, with 227 votes in favour in the Chamber of Deputies. Opposition parties have announced plans to challenge the legislation before Italy's Constitutional Court.
European Commission Grants Italy Additional Budget Flexibility for Defence and Energy Investment
The European Commission has approved Italy's request to use a national fiscal escape clause, allowing additional budget flexibility equivalent to 0.9% of gross domestic product for defence and 0.6% for energy security infrastructure. The decision gives Rome more room to finance major investment priorities.
Intesa Sanpaolo Advances Monte dei Paschi Takeover as Unipol Plans €2.5 Billion Capital Increase
Italian banking group Intesa Sanpaolo is moving forward with its proposed takeover of Monte dei Paschi di Siena, while insurer Unipol plans a €2.5 billion capital increase to acquire 635 branches. The proposed disposals are intended to address competition concerns surrounding the banking consolidation.
Italy's Government Faces Coalition Divisions Over Budget and Proposed Tax Cuts
Economy Minister Giancarlo Giorgetti is facing disagreements within Prime Minister Giorgia Meloni's governing coalition over plans for a budget without a deficit. Officials are seeking ways to finance promised income tax reductions and the removal of stamp duty without unsettling government bond markets.
Five Italian Banks Back €750 Million Rescue of Banca Progetto Amid Criminal Investigation
Five major Italian banks and the Interbank Deposit Protection Fund are coordinating a €750 million rescue of Banca Progetto following criminal investigations that disrupted its operations. The Bank of Italy is accelerating efforts to sell the lender while protecting customer deposits.
Italian Steelworkers Announce 24-Hour Strike Over Future of Former Ilva Plants
Italian trade unions have called a 24-hour national strike across former Ilva steel facilities, demanding government action to restart suspended production. The dispute comes as the industry awaits a Supreme Court ruling affecting the ownership and future of the Taranto steelworks.
Italy Joins Seven European Countries in Condemning US Sanctions on International Criminal Court
Italy and seven European partners have issued a joint statement opposing American financial sanctions against the International Criminal Court. The governments reaffirmed their support for the Hague-based institution and its role in international justice.
Stellantis Reports 28.3% Rise in Italian Vehicle Production Despite Factory Weakness
Automaker Stellantis says production in Italy increased 28.3% during the first nine months of the year, exceeding 340,000 vehicles. However, output at its Mirafiori and Cassino factories remains under pressure, highlighting uneven conditions across the company's Italian operations.
Italian Fuel Retailers Extend Temporary Price Caps Through October
Fuel distributors Tamoil and Q8 have joined Eni and IP in implementing temporary retail fuel price caps across their Italian service stations until the end of October. The move follows government pressure to ease the impact of rising energy costs on households and transport businesses.
Milan Stocks Fall Sharply as Rising Bond Yields and Oil Prices Hit Banks
Italy's benchmark stock index has suffered heavy losses, underperforming other major European markets as higher government bond yields and rising oil prices triggered selling in banking shares. The decline reflects investor concerns about financing costs and inflationary pressures.
Poste Italiane and Telecom Italia Begin Integration of Digital Infrastructure Operations
Poste Italiane and Telecom Italia have initiated a corporate integration process backed by the Italian government. The initiative aims to bring national digital services closer together and improve broadband connectivity in rural and regional communities.
Intesa Sanpaolo Launches €20 Billion Financing Programme for Italian Service Businesses
Italy's Intesa Sanpaolo has introduced a €20 billion lending initiative for small and medium-sized companies in the services sector. The programme will support digital upgrades, workforce training and wider adoption of electronic payments.
Italy Launches National Database to Target Tax Evasion in Short-Term Rentals
Italy's economy ministry has introduced a centralised database enabling tax authorities and financial police to cross-check property ownership records against online rental listings. The system is designed to identify undeclared income and unregistered activity in the short-term accommodation market.
Bank of Italy Warns Rising Raw Material Costs Could Squeeze Corporate Profits
A Bank of Italy survey shows that major manufacturers and service companies expect raw material costs to rise significantly in the final quarter of the year. The anticipated increases could weaken profit margins and weigh on Italy's near-term economic outlook.
Italian Airlines Seek Government Relief as Fuel and Borrowing Costs Rise
Italy's aviation industry associations are calling for targeted government support as higher jet fuel prices and debt servicing costs put pressure on commercial airlines and air freight operators. The sector warns that sustained cost increases could threaten the financial health of domestic carriers.
TUI Chief Warns Italy and Spain Are Approaching Tourism Infrastructure Limits
The chief executive of travel group TUI has warned that Italy and Spain are reaching the limits of their ability to accommodate further international tourism growth without major infrastructure investment. He suggested that other Mediterranean destinations could attract more visitors as a result.
Italian Supreme Court Upholds Railway Worker Convictions in 2016 Andria Train Disaster
Italy's Supreme Court has confirmed the convictions of a stationmaster and train conductor over the 2016 Andria rail crash, which killed 23 people. The court also upheld the acquittals of senior railway executives, bringing a conclusion to a major criminal case arising from the disaster.
Tornado Hits Western Sicily, Injuring Residents and Damaging Buildings
A powerful tornado has struck the western Sicilian towns of Marsala and Petrosino, damaging buildings and agricultural infrastructure, injuring several people and forcing evacuations. Italian civil protection teams have been deployed to affected communities.
Leonardo Maria Del Vecchio Resigns From EssilorLuxottica Following Leadership Dispute
Leonardo Maria Del Vecchio has resigned from all his positions at eyewear group EssilorLuxottica following a breakdown in relations with chief executive Francesco Milleri. The departure highlights continuing tensions surrounding leadership and succession at the Italian-founded multinational.
Caltagirone Group Opposes Alternative Banking Deals Ahead of Monte dei Paschi Shareholder Vote
Italy's Caltagirone Group says it will vote against proposed alternative transactions involving Banco BPM and Banca Generali at the upcoming Monte dei Paschi di Siena shareholder meeting. The position comes amid broader efforts to reshape ownership and control within Italy's banking industry.
Cariplo Foundation President Supports Banking Consolidation and Delfin Investment in Monte dei Paschi
Giovanni Azzone, president of Fondazione Cariplo, has expressed support for consolidation in Italy's banking sector and welcomed the involvement of Delfin and Benetton holding companies in Monte dei Paschi di Siena. His comments come as major financial institutions pursue changes in ownership and corporate structure.
President Mattarella Warns Against Excessive Focus on Wealth and Military Power
Italian President Sergio Mattarella has criticised the excessive pursuit of wealth and the growing reliance on military force in international affairs. Speaking during celebrations for the Feast of Saint Francis in Assisi, he warned of the consequences for peace and human dignity.
Ferrari Unveils Limited-Edition V12 Model With Manual-by-Wire Transmission
Italian luxury carmaker Ferrari has introduced a limited-edition mod