German conservative Manfred Weber, who is running to take over the European Union’s top job next year, would focus more on investment, including in digital infrastructure, if he becomes European Commission President, he told German radio.
The dollar traded slightly below a 16-month high versus a basket of peers, benefiting from save-haven flows sparked by political uncertainties in Europe and fears of a global economic slowdown.
Euro zone, Luis de Guindos, European Central Bank, ECB, Rome
Italy will stand by the main pillars of its budget despite the EU Commission’s request to revise it, Economy Minister Giovanni Tria said.
The Vice President of the European Commission who oversees the euro, Valdis Dombrovskis, said that the EU executive was assessing the need to open excessive deficit procedures against Italy if Rome did not change its budget by Nov. 13.
Italian Economy Minister Giovanni Tria condemned latest European Commission economic forecasts for Italy, which were worse than Rome’s own data, saying the EU analysis was wrong and limited.
European Union commissioner for economic affairs said he was keen to pursue dialogue with Italy over the country’s contentious budget but refused to talk of compromise with Rome, insisting that rules must be respected.
European Union could impose sanctions on Italy if no deal is reached on the country’s budget for next year, the bloc’s commissioner for economic affairs said.
Russian President Vladimir Putin has accepted an invitation to visit Italy, seen as one of the European countries most likely to press for a thaw in relations with Moscow and a lifting of EU sanctions.
IBM Corp’s (IBM.N) $34 billion deal to buy Red Hat Inc (RHT.N) drove shares in the small but fast-growing software maker 50 percent higher on Monday, reflecting the huge premium IBM is paying to ward off any potential challenger bids.