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Malta, Italy Issue Joint Warning Over Potential Unlicensed Cryptocurrency Exchange

“Malta has warned citizens about an unlicensed cryptocurrency exchange serving its domestic market” writes William Suberg for cointelegraph.com. Regulators ordered the platform to stop operating in a notice Dec. 5.As part of its bid to transform into a so-called “Blockchain Island,” various regulatory overhauls have accompanied MFSA-endorsed deals with industry businesses, including major exchanges such as Binance and Huobi.OriginalCrypto remains far from those legitimate activities, however, sources warning about the likely “scam” scheme earlier this year. “Portraying their platform as a cryptocurrency financial brokerage, OriginalCrypto.com has engineered a clever marketing…

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Dozens arrested in ‘decisive hit’ on Italian mafia in biggest cross-Europe operation to date

“Dozens of suspected members of the ‘Ndrangheta mafia were arrested on Wednesday in co-ordinated raids as part of what is being hailed as the biggest ever EU operation against organised crime” writes Claire Cohen for telegraph.co.uk. Operation Pollino was co-ordinated by Eurojust, the EU’s cross-border justice authority, which described it as a “decisive” intervention against organised crime. “Today, we send a clear message to organised crime groups across Europe.A total of 84 suspects were arrested as police in Italy, Germany, Belgium, the Netherlands and Luxembourg raided the homes of suspected…

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Italy says it’s arrested the mafia’s ‘boss of bosses’ and 45 others in Sicily

“Police said that among those arrested on Tuesday was Settimo Mineo, head of the local mafia families in the Sicilian capital Palermo” writes Giulia Segreti for businessinsider.com. ROME (Reuters) – Italian police have arrested the new head of the Sicilian mafia and 45 other alleged mobsters in a powerful blow to organized crime on the Mediterranean island, Deputy Prime Minister Luigi Di Maio said on Tuesday. Source: businessinsider.com Share This:

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Fiat Chrysler to spend 5 billion euros in Italy to fill plants, keep jobs

“We are talking about 5 billion euros out of a total five-year spend for EMEA of 8.7 billion euros… that’s an extraordinary concentration of new products.”” writes Midwest Communications Inc for 95kqds.com. TURIN, Italy (Reuters) – Fiat Chrysler plans to spend more than 5 billion euros ($5.7 billion) on new models and engines in Italy over the next three years to try to make better use of factories and boost jobs and margins. Source: 95kqds.com Share This:

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Italy’s SNAM signs deal with Volkswagen for gas-powered cars

“MILAN (Reuters) – Italian gas group Snam has a deal with Seat, a unit of German car maker Volkswagen , to boost the use of natural gas to power cars, the two companies said on Monday” writes Midwest Communications Inc for 95kqds.com. “For SEAT, one out of every five vehicles sold in Italy uses compressed natural gas (CNG),” Seat President Luca de Meo said, adding that the deal would “further enhance the development of CNG in Italy and export this success case to other countries.”.  Source: 95kqds.com Share This:

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GBP News Stocks 

European Stocks Slide: Brexit Heads to the Wire, Italy Budget Drama Intensifies

“The Brexit uncertainty was compounded by moves from the European Commission late yesterday to open a so-called “excessive deficit procedure” against Italy for what it calls “a particularly serious case of non-compliance” with EU budget rules” writes Martin Baccardax for thestreet.com. European stocks traded notably lower Thursday, although volumes were low owing to the U.S. Thanksgiving holiday, as investors took a cautious stance ahead of a key weekend summit on Brexit and the ongoing budget standoff between Rome and Brussels. Source: thestreet.com Share This:

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EU begins disciplinary procedures against Italy after rejecting its controversial budget plans

“A previous Italian government had submitted a 2019 budget which would have recorded a deficit of just 0.8 percent” writes Holly Ellyatt for cnbc.com. If so, the Commission will prepare a document that asks Italy how it will remedy its budget plan to abide with the EU rules.The European Union announced it will look to sanction Italy with a fine after the country refused to submit a budget proposal that squares with its rules. Source: cnbc.com Share This:

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A disorderly Brexit will harm ‘unstable’ Italy, says former PM Letta

“Speaking to CNBC Thursday, the former Prime Minister of Italy, Enrico Letta, said an unruly departure by the U.K. from the EU could roil European markets and further destabilize his own country” writes Jack Taylor for cnbc.com. “There is a link, because the Italian situation is a very unstable one, a very complicated one,” Letta said before adding, “Frankly speaking I am scared of an unstable storm, a complicated situation from abroad that can bring instability to the markets and then to Italy too.”.  Source: cnbc.com Share This:

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Italy sticks to its budget targets, defying the EU

“The Italian government said Wednesday it would stick with its high-spending budget plan, in a rejection of calls by the European Union to revised its fiscal targets” writes Ryan Browne for cnbc.com. Rome clung onto its contested budget deficit figure of 2.4 percent of gross domestic product (GDP), a move which is likely to send tremors into domestic and European capital markets Wednesday.The 2.4 percent proposed deficit dwarfs the previous Italian administration’s deficit goal of 0.8 percent of GDP. Italy also kept its growth assumptions for 2019, 2020 and 2021…

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