Italy's Market Authority Mulls Pausing UniCredit's Banco BPM Bid
'We are reviewing' the matter, Consob Chairman Paolo Savona told reporters in Rome, answering questions on whether the regulator may further delay the deadline for the bid, newswire Radiocor reported. The offer period is currently set to end July 23.
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Yahoo
23 minutes ago
- Yahoo
EU's Von der Leyen to Meet Trump in Bid to Clinch Trade Deal
(Bloomberg) -- European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as the two sides aim to conclude a trade deal ahead of an Aug. 1 deadline when 30% tariffs on the bloc's exports are otherwise due to kick in. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Trump Administration Sues NYC Over Sanctuary City Policy After months of talks and shuttle diplomacy between Brussels and Washington DC, the two sides have been zeroing in on an agreement this past week that would see the EU face 15% tariffs on most of its trade. Limited exemptions are expected for aviation, some medical devices and generic medicines, several spirits, and a specific set of manufacturing equipment that the US needs, Bloomberg previously reported. Steel and aluminum imports would likely benefit from a quota under the arrangements under discussion but above that threshold they would face a higher tariff of 50%. 'We'll see if we make a deal,' Trump said as he arrived in Scotland on Friday. 'Ursula will be here, highly respected woman. So we look forward to that.' Trump reiterated that he believed there was 'a 50-50 chance' of a deal with the EU, saying there were sticking points on 'maybe 20 different things' that he did not want to detail publicly. Trump gave similar odds in Washington before leaving, but also said the EU had a 'pretty good chance' of reaching an agreement. Trump announced tariffs on almost all US trading partners in April, declaring his intent to bring back domestic manufacturing, to pay for a massive tax-cut extension and to stop the rest of the world from taking advantage of the US. He has also sought to remove what he describes as barriers for American companies to do business around the world. Alongside a universal levy, the US president has hit cars and auto parts with a 25% levy, and steel and aluminum with double that. He's also threatened to target pharmaceuticals and semiconductors with new duties as early as next month, and recently announced a 50% tariff on copper. The EU has been seeking quotas and a ceiling on future sectoral tariffs that the US has yet to implement but it's unclear if an initial agreement will shield the bloc from potential future levies at this stage. The agreement would also cover non-tariff barriers, cooperation on economic security matters and strategic purchases by the EU in sectors such as energy and artificial intelligence. The terms of any initial deal, which is expected to take the form of a short joint statement, would need to be approved by member states, according to people familiar with the matter. The statement is seen as a stepping stone toward more detailed negotiations. Because of the ongoing uncertainty, the EU has in parallel put together countermeasures in the event of a no-deal scenario, which would see it quickly hit American exports with up to 30% tariffs on some €100 billion ($117 billion) worth of goods — including Boeing Co. aircraft, US-made cars and bourbon whiskey — in the event of no-deal and if Trump carries through with his threat to impose that rate on most of the bloc's exports after Aug. 1 or in future. The package also includes some export restrictions on scrap metals. In a no-deal scenario, the bloc is also prepared to move forward with its anti-coercion instrument, a potent trade tool that would eventually allow it to also target other areas such as market access, services and restrictions on public contracts, provided that there is a majority of member states backing its use. (Updates with Trump remarks in paragraphs 4-6.) Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P.
Yahoo
23 minutes ago
- Yahoo
Breakthrough as Bayern Munich prepare IRRESISTIBLE offer for Luis Diaz
Liverpool's record-breaking transfer window shows no signs of slowing down. Having already added Florian Wirtz, Hugo Ekitike, Milos Kerkez, Jeremie Frimpong and Giorgi Mamardashvili - the Reds are pressing on with a bid for Alexander Isak. Richard Hughes has already overseen around £265m worth of spending - with more to come not only on Isak but perhaps a centre-back too. LFC x New Era Shop Now LFC Signed Merch Shop Now LFC x Titleist Shop Now To finance any further spending, it's likely that sales will be required. Liverpool have got the likes of Federico Chiesa, Ben Doak, Harvey Elliott and Tyler Morton potentially available for transfer this summer. But the two heavyweight departures who could go a long way towards guaranteeing Isak's arrival are Darwin Nunez and Luis Diaz. Bayern ready to sweeten Diaz deal Nunez, 26, has got interest from Saudi Arabia and could be on his way if Liverpool receive around £70m. Bayern Munich, meanwhile are the frontrunners for Diaz - with Liverpool thought to be holding out for €80m for their Colombian winger. The Bavarians have been reluctant to go that high - with the latest reports from BILD indicating that a deal reaching €75m could be sanctioned. However there is a crucial TWIST in Bayern's latest offer - according to the same source. In order to make up the shortfall, Bayern are now willing to insert a Saudi sell-on clause. Diaz is attracting interest from Al-Nassr this summer but would probably prefer to remain in Europe at this stage of his career. But should the 28-year-old opt to pursue a deal in the Saudi Pro League a little further down the line then Liverpool will be there to cash in. Bayern propose "Saudi sell-on" to Liverpool 'SPORT BILD learned: Before Liverpool FC left for their trip to Asia on Sunday, Diaz's agent Raúl Costa was in Liverpool for several days to negotiate and sound out the possibilities of a deal,' a report reads. 'Bayern Munich aren't willing to go as high as €80 million for a transfer fee. Internally, a threshold has been set for Díaz's transfer fee and salary. The transfer fee is expected to be around €75 million. 'However, various models are being discussed. One is to include a sell-on clause in Díaz's contract with Liverpool. 'This means that if he is sold to Saudi Arabia in, say, three years (Diaz is to receive a four-year contract), Liverpool can participate. The fact is: Bayern are very optimistic that the deal can be completed in the next 7 to 10 days!' And so we enter a crucial period for Diaz's future. If Bayern can get this deal over the line - it will add a crucial €75m to the mix for Isak. And then, if and when Diaz heads off to Saudi Arabia, the club will cash in again.
Bloomberg
25 minutes ago
- Bloomberg
Hedge Funds' Bullish Gold Wagers Rise to the Highest Since April
Money managers boosted their bullish wagers on bullion to the highest since April before the US and the European Union made progress on trade talks. Hedge funds and other large speculators increased net-long positions by 19% to 170,868 contracts for the week ended July 22. The level was the highest in 16 weeks, US government data showed on Friday.
