Italy’s deepening political turmoil has pushed European democracy to the brink of collapse, the leader of the UNI Global Union has said. Rome’s power struggle has rattled global financial markets in recent days, amid renewed fears that euroskeptic parties in the euro zone’s third-largest economy could frame a new election as a de facto referendum […]

Illusionist David Copperfield was found negligent but not financially responsible for a British tourist’s injuries during a signature vanishing act that used participants from the audience of a Las Vegas Strip show in 2013, a jury said Tuesday. Gavin Cox and his wife, Minh-Hahn Cox, alleged negligence by the multimillionaire magician, the MGM Grand hotel, […]

European markets are set to open mixed Wednesday morning, amid a deepening political crisis in the euro zone’s third-largest economy. The FTSE 100 is seen 13 points lower at 7,621; the CAC is expected to open off around 8 points at 5,400 while the DAX is poised to start 3 points higher at 12,661, according […]

Italy’s Prime Minister-designate Carlo Cottarelli is considering giving up his mandate to form a government to open the way for an election as early as July 29, two party sources said on Tuesday. Such a move would require President Sergio Mattarella to dissolve parliament in coming days. If there were to be a vote at […]

A key member of the European Central Bank (ECB) has fired a not-so-subtle warning to Germany over the central bank’s independence. Yves Mersch, an executive board member of the ECB’s monetary decision-making body since 2012, told the Frankfurt Finance Summit Tuesday, that the ECB’s flexibility and autonomy should not be challenged. “If some countries want […]

Italy’s central bank chief warned on Tuesday that the state was “only ever a few short steps” from losing investors’ trust as markets dumped stocks and bonds, fearing repeat elections will become a de facto referendum on the country’s euro membership. Prime minister-designate Carlo Cottarelli is set to unveil his cabinet on Tuesday, as tensions […]

Moody’s said on Tuesday it would downgrade Italy if the fiscal policies of the next government were unable to place the country’s public debt ratio on a sustainable downward trend. The political developments of the last few days have no bearing on Friday’s decision to place Italy’s ratings under review for downgrade, the credit rating […]

The contagion risks from a potential Italian implosion should concern market participants once again, according to analysts. The euro zone’s third-largest economy is currently in the midst of an ongoing power struggle, with investors fearful the looming prospect of snap elections could be fought over the country’s role in the European Union and its membership […]

A gunman killed two police officers and a passer-by on Tuesday before being himself shot dead in the center of the eastern Belgian city of Liege, public broadcaster RTBF said on its website. Belgium’s anti-terrorist crisis centre was monitoring the situation, Interior Minister Jan Jambon said on Twitter. It was unclear, however, what lay behind […]

Thousands of officials, civil society leaders, private sector players and economic experts have convened this week in Paris for the annual summit of the Organization for Economic Cooperation and Development (OECD), a 35-nation intergovernmental economic body dedicated to promoting trade and economic progress. Much like the World Economic Forum (WEF) at Davos in January, the […]