Chief executive Carlo Messina presented a strategic plan  that includes closing 800 branches. Photographer: Alessia Pierdomenico/Bloomberg

Intesa Sanpaolo, Italy’s second-biggest bank, posted a €5.19 billion fourth-quarter loss, following UniCredit in a balance-sheet clean-up befor(...)

A couple enters the Bank of Italy in Rome today. Photograph: Max Rossi/Reuters.

Italy’s treasury has denied its use of derivatives as a hedge on its huge debt pile posed any risk to public finances, following reports the country (...)