Premier inspects quake-hit Italian factories

The government approved some temporary tax relief to owners of property damaged in the quake-struck north Tuesday, as the premier promised swift help for small-scale businesses in the region — one of Italy's more productive.

Germany, France draw battle lines over common bonds

BERLIN/PARIS (Reuters) - Germany dismissed a French-led call for euro zone governments to issue common bonds, a day before a European Union summit which investors are looking to for new measures to counter the bloc's debt crisis. After a torrid week, stock markets rallied on optimism that the Wednesday summit would produce measures to foster growth and ward off the threat of contagion should Greece exit the euro. The FTSEurofirst 300 index of top European shares closed up 1.9 percent and Spanish and Italian borrowing costs fell, leaving scope for disappointment if the EU leaders underwhelm. ...

Monti offers help for earthquake zone

ROME (Reuters) - Italian Prime Minister Mario Monti declared a state of emergency and promised more help on Tuesday for northern regions hit by an earthquake, saying it was vital to restore some of the most economically productive parts of the country. He said the government would suspend property taxes on damaged factories and residences in the region around the towns of Modena, Ferrara, Mantova and Bologna and encourage banks to step up lending to companies hit by the emergency. ...

Monti inspects quake-hit Italian factories

The Italian government declared Tuesday a state of emergency for the quake-struck region of northern Italy, shortly after Premier Mario Monti promised swift help for stricken businesses, especially small-scale farms and factories.

Comic Grillo shakes up Italian politics with shock win

ROME (Reuters) - Italy's political parties had hoped Beppe Grillo would fade away, but the comic who rails against their corruption and ineptitude and says Italy should default on its debt and quit the euro is going from strength to strength. In local elections on Monday, Grillo's Five-Star Movement shook Italian politics by winning control of the northern city of Parma and several smaller towns, capitalizing on voter discontent with economic stagnation and austerity. ...