Eni SpA said it will return more cash to shareholders after the Middle East war drove up energy prices and sent refining margins soaring.

Trucker protests over soaring fuel prices in Italy have forced dairies in the country’s south to stop making their prized buffalo mozzarella, in the latest sign of mounting economic and political frustration.

A worsening energy shock could wipe out Italy’s economic growth next year, with high power prices and European Union carbon costs hurting industrial competitiveness, according to the country’s largest business lobby.

A worsening energy shock could wipe out Italy’s economic growth next year, with high power prices and European Union carbon costs hurting industrial competitiveness, according to the country’s largest business lobby.

Italy’s Eni SpA cut pump prices for at least a month, offering some respite for Prime Minister Giorgia Meloni, who is trying to shield consumers from spiraling costs ahead of a general election next year.

Germany is planning to sharply expand an existing tender that pays suppliers to keep gas available for winter, in a move designed to encourage traders to fill the country’s unusually low storage sites.

Giorgia Meloni’s government introduced a sweeping vehicle ownership tax cut, as the Italian premier seeks to stem the impact of the energy crisis on consumers ahead of a general election next year.

Leonardo SpA, the Italian state-controlled defense company, is aiming to deepen ties with Ukraine’s fast-growing military-technology sector through its new Kyiv unit, seeking partnership, investment or acquisition opportunities, Chief Executive Officer Lorenzo Mariani said.

Italian energy producer Eni SpA aims to eventually lift its Venezuelan production to more than 1 million barrels a day, according to people familiar with the matter, a figure that includes volumes from state-owned Petróleos de Venezuela SA and would bolster US efforts to revive the country’s battered oil industry.

ArcelorMittal SA dropped its planned takeover of a joint venture with struggling carpart manufacturer CLN-Coils Lamiere Nastri SpA after the Italian government imposed restrictions, paving the way for a domestic rival to take control.

Italy’s energy regulator fined A2A SpA €5 million ($5.8 million) for market manipulation dating back to Europe’s energy crisis in 2022, finding that the company held back some gas plants from the market, pushing power prices higher.

Spain and Italy’s feud over migration escalated after Rome bluntly refused to lift new border controls imposed after the sudden influx of 70,000 migrants to a Spanish African exclave.

Italy approved a temporary tax cut on diesel fuel through Aug. 6 as the government seeks to cushion the impact of surging energy prices following the widening of the conflict in the Middle East.

Italian Prime Minister Giorgia Meloni’s government may propose a pricey energy security and defense spending plan ahead of 2027 general elections, according to Corriere della Sera.

Hybrid warfare presents an emerging threat to Europe’s underwater cable and energy links, the chief executive officer of Italian shipbuilder Fincantieri SpA said.

Fincantieri SpA agreed to buy majority stakes in four underwater technology companies, boosting the Italian shipbuilder’s presence in a growing part of Europe’s military buildout.

Metinvest Holding is looking for a new investor to provide equity financing for a €3 billion ($3.4 billion) steel plant in Italy as the Ukrainian group tries to downsize its commitment.

Stellantis NV and Nissan Motor Co. are in talks to take over some of the assets of Marelli Holdings Co., the global auto-parts maker that’s mired in a challenging reorganization in bankruptcy.

More nations are evaluating the European-made SAMP/T NG missile defense system, demonstrating the Franco-Italian interceptor’s emergence as an alternative to hard-to-get Patriot batteries from the US.

Leonardo SpA’s new chief executive officer expects European regulatory approval for its satellite venture with Airbus SE and Thales SA by the end of next year, clearing the way for one of Europe’s most ambitious defense and space projects.