European Press Roundup: 'Boris Bus' Maker Enters Administration, Italian Hotel Sector Sees Investment Surge

In Europe today, stocks tumbled as impeachment proceedings against U.S. President Trump added to investors' long list of worries. Thyssenkrupp moved to replace its CEO, and Santander's U.K. business booked a EUR1.5 billion charge amid Brexit uncertainty. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

Wrightbus, one of the largest employers in Northern Ireland with 1,400 staff, has gone into administration after failing to secure a last-minute rescue deal. The maker of the "Boris bus" is the U.K.'s second big insolvency this week after the collapse of Thomas Cook. -Guardian

Investment in Italy's hotel industry is growing, pointing to a record year for the sector, according to a recent report. In the first half of 2019, more than EUR2 billion was invested, up from EUR1.19 billion in 2017. -Il Sole 24 Ore

German oil-and-gas producer Wintershall Dea is considering withdrawing from Libya. Company sources said that the economic and legal framework conditions in the country, which has been shattered by a civil war, were hardly manageable. The subsidiary in Libya has not been able to cover its costs for years. The management of Wintershall Dea and its parent company BASF is in contact with the German government to this end. -Handelsblatt

Italian insurers Assicurazioni Generali and Cattolica didn't submit offers to become partners of UBI Banca in the insurance business. The deadline expired yesterday at midnight. -Il Sole 24 Ore

Dutch Finance Minister Wopke Hoekstra will discuss falling interest rates with banks, but is cautious about a possible ban on negative interest rates. There are rising concerns that interest rates on savings might fall below zero for consumers, which would mean savers would have to pay for their savings. But Hoekstra says such a ban could come "at the expense of the effectiveness of monetary policy and, in an extreme scenario, even damage financial stability." -Volkskrant

Barcelona-based investment fund Squircle Capital has paid EUR105 million for 77% of leading yacht-remodeling company Marina Barcelona 92. The main seller, Turkey's Dogus, had paid EUR56 million in December 2015 for 70% of the company. -Expansion

Spanish department store Corte Ingles targets EUR1 billion revenue from online sales in 2020 as it steps up its digital transformation. To help with this, the company will also launch a new app in 15 days. -Publico

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(END) Dow Jones Newswires

September 25, 2019 09:21 ET (13:21 GMT)

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