• Italy GDP growth above expectations, uncertainty weighs - CsC


    The Italian economy is growing more than expected, helped by a positive performance in Europe, said CsC, the research institute of the employers federation Confindustria. "GDP is going better than expected and is accelerating. Exports keep gaining market shares, investments continue to grow, as well as constructions," said CsC in its monthly report. However, political uncertainty prevents a full recovery, CsC said. RADIOCOR

  • China's reforms not enough to arrest mounting debt: Moody's


    China's structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody's said. REUTERS

  • EU OK to mini-budget, Italy met rules


    The European Commission said in its spring package Monday that "Italy has confirmed that its additional budget measures requested for 2017 have been taken and that therefore, in this phase, no further step is deemed necessary to respect the debt rule". After this long-awaited green light to a 3.4-billion-euro mini-budget, the EC said "further efforts were needed in 2018" to keep Italy on track. ANSA

  • China credit rating cut to A1 vs Aa3 - Moody's


    Moody's Investors Service said it has downgraded China's long-term local currency and foreign currency issuer ratings to A1 from Aa3 and changed the outlook to stable from negative. The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows. RADIOCOR

  • ISTAT revises upwards 2017 GDP to 1.0%


    ISTAT on Monday revised upwards its 2017 growth forecast from 0.9% to 1.0%, saying that "a more sustained dynamic in world trade is foreseen that should boost exports". Italy's GDP is recovering but there is a gap with the rest of the EU, ISTAT said Monday. It said Italian GDP rose 1.9% in the first quarter of 2017 while eurozone GDP rose 3.5%. ANSA

  • Britain's EU 'no deal' threat is genuine, says Brexit minister Davis


    Britain is prepared to walk away from divorce talks with the European Union without a deal, Brexit minister David Davis said on Sunday, but stressed that he thought an agreement was the most likely outcome. Wary of some in the bloc who might want to see Britain punished for leaving, Prime Minister Theresa May has said that unless she gets the kind of deal she wants from Brussels, she will withdraw without any accord. REUTERS

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