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Added on the 29/07/2016 17:55:21 - Copyright : Reuters EN
Italy's Monte dei Paschi di Siena appoints Marco Morelli as its new chief executive, handing the 54-year-old banker the job of convincing investors to back a third cash call for the ailing bank in as many years. David Pollard reports.
The ECB has reportedly given a preliminary nod to the possible appointment of Marco Morelli, head of Bank of America Merrill Lynch in Italy, as chief executive of ailing lender Monte dei Paschi di Siena. As Hayley Platt reports, if confirmed, he'll have a tough job implementing an emergency rescue plan to avert the risk of being wound down.
Fabrizio Viola is to step down as CEO of Monte dei Paschi ahead of a 5 billion euro cash call. Will it be enough to persuade investors they should back efforts to save Italy's third-largest bank from being wound down? Ivor Bennett reports.
A new press centre is set up as Thai authorities tell media and non-essential personnel to leave a camp site near the entrance to a cave where 12 boys and their coach have been trapped for more than two weeks. IMAGES
Italy's third-largest bank, Monte dei Paschi di Siena, will write down bad loans, lay off a tenth of its staff and raise 5 billion euros ($5.4 billion) in an overhaul that could shape the fortunes of the country's wider banking sector. Hayley Platt reports.
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