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The Meloni government is prioritizing families and health care in its budget, allocating over 1.5 billion euros for various measures. Key reforms include a structural cut in the tax wedge, a new family quotient for deductions, and significant investments in health care, with the health fund projected to reach 140 billion euros by 2026. While banks and insurance companies will face financial adjustments, the government assures no new taxes for lower-middle incomes.
The 2025 budget law introduces significant measures aimed at reducing the tax burden and supporting lower and middle-income workers and pensioners, with a gross effect of approximately €30 billion in 2025. Key changes include a tax wedge cut, structural IRPEF rate reductions, and increased resources for public administration and healthcare. Additionally, pensions will see full revaluation, and incentives for employment and business investments are confirmed, alongside extended parental leave benefits.
Doubts about growth prospects persist, with tax revisions potentially slowing consumption and significant cuts to local authorities deemed unsustainable. The 2025 financial maneuver introduces a family quotient for tax deductions, favoring larger families with lower incomes, while also providing a 1,000-euro card for new parents and extending parental leave benefits. However, concerns remain about the impact of restrictive measures on household consumption, which is projected to grow only modestly.
Germany's pharmaceutical landscape faces challenges as Eli Lilly begins construction of a new plant in Rhineland-Palatinate, reportedly linked to a law change allowing confidential pricing for medicines. This shift, criticized for potentially raising health insurance costs, has sparked concerns among health officials about increased expenditures for the public. Eli Lilly denies any direct connection between its investment and the legislative change.
UBS has reduced its price target for Puma SE from €48.50 to €43.50 while maintaining a "Neutral" rating. Analyst Robert Krankowski noted that Puma is currently facing challenges in achieving its profitability targets for 2025, as recent favorable conditions have shifted to headwinds.
UBS has downgraded A.P. Möller-Maersk to neutral from buy. The company, a leader in maritime transportation, operates over 707 vessels and offers port and logistics services. Its net sales are primarily generated from the United States (22.4%), with other significant contributions from various countries.
UBS has downgraded A.P. Møller-Maersk to neutral from buy. The company, a leader in maritime transport, operates a fleet of over 707 vessels and provides port and logistical services. Its net sales are primarily generated from the United States (22.4%) and other global markets.
The ECB is set to meet, with final September Eurozone consumer price data expected to show a significant drop in inflation. Meanwhile, Japanese export data has revealed unexpected weakness, contrasting with shifting consumer spending trends in the US, which still favor leisure activities. Upcoming US industrial output and manufacturing sentiment data will provide further insights into the economic landscape, amid ongoing concerns about the disconnect between sentiment and reality.
In 2023, European companies raised €11.7 billion, a 9% increase from the previous year, driven by a 51% rise in IPOs and refinancings. The UK, Switzerland, and France led fundraising efforts, while venture capital fell by 19%, particularly impacting the French and British HealthTech sectors. Despite a challenging year, refinancing on secondary markets surged by 51%, with the Netherlands achieving the highest levels.
Numarics AG and radicant bank ag, both subsidiaries of Basellandschaftliche Kantonalbank (BLKB), have announced plans to merge, pending regulatory approval. This merger aims to create a comprehensive banking and financial services platform for private and SME clients, enhancing their offerings and market presence. BLKB will remain the majority shareholder, with additional investments from venture capital firms.
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Italian government unveils budget focusing on families health care and tax reforms
Euro
ABI
Rai
ITA
Luigi Sbarra
Marco Elio Rottigni
Giorgia Meloni
Eugenia Roccella
Antonio Tajani
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09:00 17.10.2024
new budget law 2025 focuses on tax cuts healthcare and pension reforms
09:00 17.10.2024
tax reforms aim to support families while addressing economic challenges
09:00 17.10.2024
pharmaceutical company secures law change amid rising health insurance costs
Euro
Eli Lilly and Company
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IND
DEU
USA
Karl Lauterbach
Stefanie Stoff-Ahnis
Olaf Scholz
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09:00 17.10.2024
UBS lowers Puma price target amid profitability concerns and maintains neutral rating
08:40 17.10.2024
ubs downgrades a p moller maersk to neutral amid market shifts
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A.P. Møller - Mærsk A/S
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08:38 17.10.2024
ubs downgrades a p moller maersk to neutral rating
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A.P. Møller - Mærsk A/S
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08:38 17.10.2024
eurozone inflation falls as central banks navigate economic uncertainty
08:23 17.10.2024
european healthtech fundraising shows mixed results amid venture capital decline
07:54 17.10.2024
radicant and numarics announce merger to enhance banking services in switzerland
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UBS SA
Numarics AG
radicant bank AG
Basellandschaftliche Kantonalbank
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Thomas Schneider
Kristian Kabashi
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Sandro Spaeth
Dominique Rey
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06:59 17.10.2024
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