Italian government softens shock bank windfall tax in bid to calm market turmoil

  • 📰 businessposthq
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 71%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The country’s biggest lenders are scrambling to claw back gains after a detrimental day of trade on Tuesday

The Italian government backtracked on part of its new windfall tax on banks, saying it would introduce a cap to limit the impact for many lenders as it tries to calm a market rout that wiped out $10 billion from the banks’ market value.

It comes as the country’s biggest lenders are scrambling to claw back gains after a detrimental day of trade on Tuesday.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK Markets Wrap: Banks and commodity stocks led Tuesday’s fallers on FTSEGlobal trading sentiment was already weak after Chinese imports and exports both tumbled more sharply than expected
Source: businessposthq - 🏆 8. / 71 Read more »