One dead after flash floods hit Italy’s northern Piedmont region
Widespread flooding claimed one life and left swathes of Piedmont submerged on Thursday after torrential rain swept through the northern region.
A 92-year-old man was found dead in Monteu da Po, northeast of Turin, after he remained trapped inside his home following severe local flooding, according to Italian media reports.
The victim was believed to have drowned, reports said.
Firefighters across the entire Piedmont region carried out over 300 operations on Thursday after multiple locations were hit by flash floods and landslides.
The provinces of Turin, Biella and Verbano Cusio Ossola were among the hardest-hit areas, according to Italian media reports.
Train services between Turin’s Porta Nuova station and the ski resort of Bardonecchia were temporarily suspended on Thursday afternoon.
Over 40 provincial roads in the Turin province were also closed to traffic due to flooding.
Piedmont President Alberto Cirio said late on Thursday that he had asked the government to declare a regional state of emergency to address “the significant damage” caused by the wave of extreme weather.
Besides Piedmont, other parts of Italy’s northwest were hit by torrential rain on Thursday.
Power outages were reported in 37 municipalities in the Aosta Valley after heavy rainfall damaged some high-voltage lines, according to Il Corriere di Torino.
Italy says it will meet NATO's defence spending target this year
Italy will meet NATO's defence spending target of 2 percent of gross domestic product (GDP) this year, Economy Minister Giancarlo Giorgetti said during a parliamentary hearing on Thursday.
According to NATO figures, Italy's defence budget for 2024 was 1.49 percent of GDP – among the lowest within the 32-member alliance.
"We are acutely aware of the need to increase this expenditure in the coming years," Giorgetti told lawmakers.
The announcement came less than a week after Deputy PM Antonio Tajani said that the government intended to raise the defence spending as “a direct response to calls from the United States”.
“When they say they can’t be the only ones responsible for Europe’s security, they are right,” he added.
Since taking office in January, US President Donald Trump has on multiple occasions urged NATO allies to increase military spending as high as 5 percent of GDP.
In response, the European Commission has recently unveiled plans to allow member states to raise defence spending by 1.5 percent of GDP each year for four years, without them facing any of the disciplinary procedures that normally kick in once a government deficit rises above 3 percent of GDP.
Italian coffee pot maker Bialetti to be sold to China's NUO Capital
Bialetti, the Italian manufacturer of the famed octagonal moka coffee pot, has struck a deal to sell the business to Chinese investment firm NUO Capital, according to Italian media reports.
Under the new deal, NUO Capital, which is controlled by Chinese tycoon Stephen Cheng but registered in Luxembourg, will pay €53 million for 78.6 percent of Bialetti's shares.
A tender for the remaining shares will then be launched at a price of no less than €0.467 each.
Founded in 1933 by Alfonso Bialetti, an engineer who produced the first coffee pots from his workshop in Crusinallo, Piedmont, the Italian manufacturer has struggled in recent years amid fierce competition from capsule coffee makers.
Bialetti launched an expansion plan involving the opening of stores in shopping malls and city centres in the late 2010s, but the venture took a hit during the Covid pandemic.
The company posted a €1.1-million loss in 2024, closing the year with adjusted net financial debts of €81.9 million.
Egidio Cozzi, who’s set to stay on as Bialetti’s CEO after the acquisition, said on Wednesday: “Today Bialetti is a more solid company, with a clear strategic vision and a globally recognised brand.”
“With Nuo’s arrival, we’re entering a new chapter full of opportunities. We’ll keep investing in innovation, global expansion, and authenticity,” he added.
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