Italy’s 5 Billion Euro Remedy to Fix its Banks

Italian officials and financial firms agreed to create a multibillion-euro fund to help weakened banks raise capital and unload bad loans, as the nation tries to assuage investor jitters and avert a crisis. The new fund, named Atlante, will be supported by numerous institutions, its manager, Quaestio Capital Management SGR, said late Monday after more than a week of meetings among banks, insurers and state lender Cassa Depositi e Prestiti. The fund may be worth about 5 billion euros ($5.7 billion), said Banca Popolare dell’Emilia Romagna Scarl Chief Executive Officer Alessandro Vandelli, speaking on the sidelines of the meeting. Hermes Senior Credit Analyst Filippo Alloatti discusses with Bloomberg’s Manus Cranny on “Countdown.”

Infosys CEO Resigns After Criticism From Founders
58:27 - Infosys Ltd. Chief Executive Officer Vishal Sikka has stepped down following criticism from the company’s founder. Chief Operating Officer Pravin Rao will become interim CEO. Bloomberg's Caroline Hyde reports on "Bloomberg Technology." (Source: Bloomberg)
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