AGP Executive Report
Last update: 2 hours agoEU Budget: Ireland’s proposed 8% cut to the bloc’s 2028–34 budget would still leave it about 30% larger than the current plan. Italy opposes cuts, with negotiations set to shape funding for agriculture, regional development and other priorities. Italian Business: China’s Midea has completed its acquisition of a controlling stake in Genoa-based medical imaging group Esaote. Esaote will remain headquartered in Italy and operate independently under its current CEO. Markets and Regulation: Italian finance executive Carlo Comporti has been appointed chair of EU markets regulator ESMA. Brussels is also due to decide by November 16 whether to clear UniCredit’s proposed Commerzbank deal. Banking: UniCredit has received Putin’s approval to restructure and sell part of its Russian business. Separately, Intesa Sanpaolo’s improved €35 billion offer for Monte dei Paschi has won backing from its largest investor. Fintech: Italy’s state-backed CDP led a $27 million funding round for payments firm TrueLayer as it expands across Europe.
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