Italy's economy minister urges caution over privatisations
HELSINKI (Reuters) - Italy's economy minister Roberto Gualtieri said on Saturday that privatisation targets set by the previous Italian government were 'unrealistic', and warned the sale of government shares in public companies should be handled with caution.
HELSINKI (Reuters) - Italy's economy minister Roberto Gualtieri said on Saturday that privatisation targets set by the previous Italian government were "unrealistic", and warned the sale of government shares in public companies should be handled with caution.
The government of the anti-establishment 5-Star and the far-right League, which quit the coalition in August, had set a target of raising 18 billion euros ($19.93 billion) this year from the sale of public assets.
Gualtieri, who last week took office as finance minister in a new executive supported by 5-Star and the centre-left Partito Democratico, said privatisations were not a tool he wanted to use to meet immediate financial needs.
He said the sale of public assets could be a way of reducing Italy's large debt, but should be used with caution because it could harm public companies which are "strategic" to the Italian economy and industrial policy.
Gualtieri, speaking after his first meeting with EU finance ministers since the new Italian government took office last week, also said it would be "counterproductive" if Italy adopted an austerity budget this year. He instead urged the euro zone to adopt an expansionary fiscal stance to revive growth.
($1 = 0.9031 euros)
(Reporting by Francesco Guarascio @fraguarascio; Editing by Mark Potter and Catherine Evans)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Laura Sanicola NEW YORK (Reuters) - Oil prices settled higher on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output. Brent crude futures for August settled up 93 cents, or 1.3%, to $70.25 a barrel after hitting $71 earlier in the session - its highest intra-day price since March 8. U.S.
By Lewis Krauskopf, Shashank Nayar and Medha Singh (Reuters) - Wall Street's main indexes ended little changed on Tuesday, with gains in energy and financial shares countering declines in healthcare, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation. The S&P 500 financial sector hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector
(Reuters) - Zoom Video Communications Inc on Tuesday forecast better-than-expected revenue for the current quarter, after beating quarterly estimates, as the video-conferencing platform expects steady growth from remote work and online learning. Zoom became a household name during the pandemic as businesses and schools switched to its video conferencing platform for virtual classes, office meetings and social catch-ups