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FCA reviews plan for Italy
DETROIT: Fiat Chrysler Automobiles (FCA) is reviewing its investment plan for Italy after the country approved taxes on the purchase of larger gasoline and diesel cars, Chief Executive Officer Mike Manley said on the sidelines of the Detroit auto show. FCA Chairman John Elkann was also present at the North American International Auto Show in Detroit, Michigan, US, on Monday. The carmaker said in late November it would spend
 
 
Citigroup expects more revenue from lending
NEW YORK: Citigroup said it would earn $2 billion more in revenue from its lending activities this year than in 2018 as it reported better than expected fourth-quarter earnings, sending its shares more than 4 per cent higher. Chief Financial Officer John Gerspach pointed to growing revenue from its consumer banking business and a reduced government surcharge for deposit insurance, as drivers for net interest income this year.
   
Italy and Spain to capitalise on conducive eurozone bond market
LONDON: Record investor demand for the year’s first wave of eurozone government bond sales sets the stage for new debt issuance from Italy and Spain, whose debt agencies are keen to capitalise on the conducive environment, bankers said. Italy announced on Monday that it has hired a syndicate of banks to sell a new 15-year bond to be launched soon, subject to market conditions. Spain is expected to follow with a syndicated bond
 
 
Telecom Italia calls for shareholders’ meet in March
MILAN: Telecom Italia (TIM) has called for a shareholders’ meeting for March 29 to vote on top investor Vivendi’s request to replace five board members, setting the stage for a new showdown between the French media giant and US activist fund Elliott. In December Vivendi, which owns 24 per cent of Telecom Italia, called for the replacement of five of the board members put forward by Elliott, citing a “substantial lack of
   
British car insurance premiums decline 6%
LONDON: The cost of a comprehensive motor insurance policy fell 6 per cent in Britain in 2018, according to a survey, which indicated potential trade barriers brought on by the country’s looming exit from the European Union would hurt prices in 2019. Prices in 2018 were pushed down by changes in the Ogden rate, used to calculate compensation for personal injuries, and the Civil Liability Bill, which includes reforms likely to
 
 
Lindt posts rise in organic sales despite US slowdown
ZURICH: Swiss chocolate maker Lindt & Spruengli on Tuesday said its organic sales rose 5.1 per cent in 2018, in line with its “around 5 per cent” goal despite being hit by a slowdown in North America. Reported sales, which includes currency swings, rose 5.5 per cent to 4.31 billion Swiss francs ($4.39 billion), as “strong increases” in its Europe and the Rest of the World regions compensated for problems in the United States,
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