European Press Roundup: Italian Business Lobby Sees Lower GDP Growth Than Government; BNP Names CIB Chief as Group Deputy COO
October 03 2018 - 06:24AM
Dow Jones News
In Europe today, European shares gained as it looks like Italy's
budget deficit will be lowered, while Aston Martin priced its
initial public offering on the London Stock Exchange, valuing the
luxury-car maker at GBP4.33 billion. Read about the above topics on
Dow Jones Newswires or WSJ.com.
In Other Media...
Confindustria, Italy's main business lobby, sees the country's
economy growing less than expected by the government. Italy's GDP
should grow by 1.1% in 2018 and 0.9% in 2019, according to the
group. The Italian government targets an expansion of 1.6% for
2019, according to media reports. -La Repubblica
BNP Paribas, France's biggest listed bank by assets, has
appointed Yann Gerardin as deputy chief operating officer. Mr.
Gerardin, previously at the head of BNP's Corporate and
Institutional Banking (CIB) unit, takes the place of Alain
Papiasse, who became chairman of the CIB business. -La Tribune
Germany's government reaches a deal aimed at improving air
quality while avoiding disruptive city-wide bans on diesel
vehicles. Drivers will be able to trade in their old diesel
vehicles for discounted new models or opt to upgrade their engines
to reduce emissions. The reaction from car makers, who don't want
to pay for expensive retrofits, has been muted. -DW
Spanish Finance Minister Nadia Calvino will present a 75-page
reform plan, which the government hopes will allay EU fears that
Spain will follow Italy's footsteps. The plan includes proposals
related to energy efficiency, incentives for vocational training
and the digitalization of public administration. The government
move comes after the resignation of two of its ministers and amid
doubts over whether it can muster sufficient support to pass its
2019 budget. -Expansion
It looks like tourist season in Greece will extend into October,
with the number of spots on scheduled flights to Greece during
September and October up by 13.2%, according to data from the
Hellenic Slot Coordination Authority. In the first seven months of
the year, tourist per capita spending rose 17%--even more than
tourist arrivals, which were up 14.6%--spelling good news for
Greece's tourism industry. -Kathimerini
The Serious Fraud Office has admitted defeat in trying to force
a British mining company, Eurasian Natural Resources Corporation,
to hand over documents prepared on its behalf by lawyers and
forensic accountants. The agency opened an investigation against
ENRC over suspected fraud, bribery and corruption around the
acquisition of mineral assets. -The Times
Growth in the Irish services sector improved to a three-month
high in September, a survey showed on Wednesday, prompting firms to
tap an increasingly tight labour market and hire staff at the
fastest pace this year. The Services Purchasing Managers' Index
rose to 58.7 from 58.0 in August. The index has remained above the
50 mark that separates growth from contraction since August 2012.
-The Irish Times
The Italian Parliament plans to launch a new parliamentary
commission to investigate the banking system. The commission should
last two to three years. -Il Sole 24 Ore
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(END) Dow Jones Newswires
October 03, 2018 07:09 ET (11:09 GMT)
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