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European Press Roundup: Italy's New Government Wins Confidence Vote in Senate

In Europe today, Zara-owner Inditex expects like-for-like sales to rise by a mid-single digit in its full-year 2019 and Hermes said its first-half net profit rose to 754 million euros ($832.6 million) from EUR706 million in the same period a year ago. Read about the above topics on Dow Jones Newswires or WSJ.com.

 

In Other Media...

 

Italy's new government led by Prime Minister Giuseppe Conte won a confidence vote in the Senate on Tuesday, the final step needed for the government to exercise its full powers. Senators voted 169-133 in favor of the coalition between the anti-establishment Five Star Movement and the centre-left Democratic Party. -La Repubblica

 

Italy's rail group Ferrovie dello Stato has asked the government to put off the deadline to present a rescue plan for Alitalia to the end of October. The current deadline is mid-September. -Il Sole 24 Ore

 

A Deliveroo television advertisement has been banned in the U.K. after having been judged "likely to mislead" by the Advertising Standards Authority. The regulator ruled that it wrongly implied that delivery was available everywhere in the country. -BBC

 

ZF Friedrichshafen Chief Executive Wolf-Henning Scheider fears a continued weak automotive economy over the next few years. "In this respect, we at ZF assume that the next two years--i.e. a total of three years--will not bring any improvement," he said at the Frankfurt Motor Show, adding that this means stagnation at the current level. -Handelsblatt

 

French telecommunication company Orange wants the French state to keep its shares in the company, Orange's CEO Stephane Richard said in a radio interview. The French state holds a 23% stake in Orange. -Les Echos

 

Annuity rates are at the lowest level in the last 25 years said financial information group Moneyfacts. Securing retirement income is more expensive now due to a plunge in government bond yields. -The Times

 

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(END) Dow Jones Newswires

September 11, 2019 07:44 ET (11:44 GMT)

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