The Italian Treasury seeks to raise some €3.7bn through the IPO of Poste Italiane. The government will offer around 40% of the company at a price of between €6 and €7.50 per share, the Finance Ministry said in a statement following the regulatory body Consob’s approval of Poste Italiane request for an IPO. The company will be valued between […]
Brian Jack has been appointed head of treasury at Kames Capital, the UK based manager Jack will report to head of investment implementation Bob Laws, and will be responsible for overseeing management of the cash and liquidity team, and assets of more than £5bn. Jack joins from Ignis Asset Management, where he headed the Cash […]
The Italian Treasury is set to become Banca Monte dei Paschi di Siena (MPS)’s major shareholder starting from July, according to local press. The move comes from MPS’s duty to repay interest payments on state loans, worth €243m in 2014, in shares should a capital loss occur. Given the Tuscan bank’s recent record loss of €5.3m, it […]
The Italian Treasury has denied that derivatives dating from the 1990s posed any risk to the stability of public finances following reports that Rome faced €8bn in losses from one set of contracts.
Investors in the ‘safe haven’ of 10-year Treasuries will lose one third of their capital if yields on the debt returns to its 50-year average of 6.5%, according to Jan Dehn, strategist at Ashmore Investment Management.
Fifteen years ago, in May 1997, Tony Blair’s new government granted the Bank of England its independence. Since then its fortunes have been mixed.