The Italian government has dramatically cut its growth economic growth forecast for this year, according to an official document seen by Reuters.
The UK is back in recession, according to the latest growth projections from the OECD, while the recovery in the G7 economies remains ‘fragile'.
Trillions of dollars in fake US bonds have been seized from a warehouse in Zurich alleviating a "severe threat" to global financial security, according to media reports.
Top managers spy high yield opportunities as European Central Bank's liquidity injections transform banks' refinancing operations.
UniCredit SpA (UCG), Intesa Sanpaolo SpA and Banca Monte dei Paschi di Siena SpA (BMPS) are among 34 Italian financial firms downgraded by Standard & Poor's.
Barings' multi-asset team has bought £350m in Italian government bonds in the expectation European banks will use the ECB's Long Term Recovery Organisation (LTRO) to buy government debt.