![European bank stocks bounce as Italy softens windfall tax blow](/i/c/6ced82d5-0f61-2f9c-2dca-957fdbe170ee.webp)
European bank stocks bounce as Italy softens windfall tax blow
Banking stocks in Italy and elsewhere in Europe rebounded Wednesday after the country watered down a plan to whack its banks with a surprise one-off 40% tax on their windfall profits.
2023-08-09 20:22
![Italy slaps 40% one-off windfall tax on its banks](/i/c/3a925c90-98ff-71f0-93c4-e1be6bf81832.webp)
Italy slaps 40% one-off windfall tax on its banks
Italy dealt a surprise blow to its banks and sent shockwaves across the sector in Europe by setting a one-off 40% tax on profits reaped from higher interest rates, after reprimanding lenders for failing to reward depositors.
2023-08-08 21:20