Italy

Ex-BT bosses named in investigation into alleged fraud in Italy unit | Business – Business Article

Three former BT executives, including two who were based in London, have been named in an investigation into alleged accounting fraud in the company’s Italian division, a scandal that forced it to write off £530m and claimed the scalp of its European chief. In a document summing up their case, prosecutors in Italy alleged that a network of BT Italy employees fabricated contracts and invoices and invented fake transactions to hide the unit’s true financial position and hit bonus targets.…

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La dolce vita slips away again as Italy tumbles back into recession | Business – Business Article

Sharing his predictions on the economy less than a month ago, Luigi Di Maio, the Italian deputy prime minister, believed the country was on the cusp of an economic miracle akin to the one enjoyed in the 1960s. “During that period we built highways, now we can build digital highways,” he enthused. His comments were met with derisive laughter. There was even less to laugh about on Thursday when figures revealed that Italy, which is saddled with a public debt…

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