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Public Administration Contracts, Concession of public land, Penalty clause for non-fulfillment or delay, Civil Cassation, Section III, Interlocutory Ordinance no. 24704 of 09/14/2021

The Third Civil Section has handed over the documents to the First President for the possible assignment of the case to the United Sections regarding the resolution of the conflict that has arisen, regarding the concession of public land by public bodies to private individuals, if the application of a penalty clause for non-fulfillment or delay in accessing the authoritative title, may be based on mere unilateral adherence to a regulation or must be transfused into a deed signed by the concessionaire. Source Supreme Court of Cassation...

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Companies, Audiovisual systems, Protection of assets unrelated to the employment relationship, Civil Cassation, Section IV, Judgment n. 25732 of 09/22/2021

Protection of assets unrelated to the employment relationship or to avoid illegal behavior Art. 4 of the l. n. 300 of 1970 With reference to art. 4 of the l. n. 300 of 1970 - as amended by articles 23, paragraph 1, of the legislative decree n. 151 of 2015, and 5, paragraph 2, of Legislative Decree no. 185 of 2016 - the Labor Section stated that controls, including technological controls, put in place by the employer aimed at protecting assets unrelated to the employment relationship or at avoiding unlawful conduct are allowed, in the presence of a well-founded suspicion about the...

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USA, ISM, manufacturing goes up in September

Business expansion. US manufacturing activity accelerates in September. This was indicated by the ISM - Institute for Supply Management on the basis of the usual monthly survey. The purchasing managers' index of the manufacturing sector stood at 61.1 points from 59.9 in August. The figure is higher than the expectations of analysts who estimated a level of 59.6 points. The indicator that is used to assess the health of the US manufacturing sector remains well above the key threshold of 50, which acts as a watershed between expansion and contraction of activity. Among the various components of the index, that of new orders is...

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Nautical industry, estimated turnover growth in the calendar year 2021

Structural strengthening Export for 2.8 billion euros Full order book of Italian superyacht shipyards over the next three years Close to the maximum levels of turnover in the 2007/2008 two-year period. Industry 4.0 The estimated growth of the global turnover of the Italian nautical industry indicates a value of + 23.8% in the calendar year 2021, with a range of variation of ± 5% which determines an overall value between € 5.5 and 6 , 0 billion. The survey on the trend of the nautical year which ended on 31 August 2021, carried out by the Confindustria Nautica Research Office on the basis of a significant...

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Corporate, Companies and Entities whose securities are traded on regulated foreign markets, Civil Cassation, Section V, Interlocutory Ordinance no. 19381 of 08/07/2021

Art. 30, paragraph 1, n. 5, l. n. 724 of 1994 - Text prior to the changes made by l. n. 296 of 2006 - Applicability - Scope - Companies and entities whose securities are traded on Italian regulated markets - Existence - Companies and entities whose securities are traded on foreign regulated markets - Exclusion - Articles 18 (pursuant to Article 12 of the TCE) and 49 (ex art. 43 TEC) of the TFEU - Violation The Fifth Civil Section of this Court, with two twin orders, asked the EU Court of Justice to give a preliminary ruling pursuant to...

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Guarantee contracts, Surety, Civil Cassation, Section III, Judgment n. 22157 of 03/08/2021

Guarantees granted by the State or charged to the Treasury in relation to debts of particular categories of subjects - Nature of first demand guarantee - Exclusion - Applicable principles - Consequences in terms of activation of these guarantees. The III Civil Section has stated, in the interest of the law and pursuant to art. 363, paragraph 3, cpc, the following principle of law: "In the case of guarantees granted by the State or placed in any case by the public tax authorities by specific provisions of the law in relation to debts of particular categories of subjects, they, in the...

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Corporate, Merger, Incorporated company, Extinction, Civil Cassation, United Sections, Judgment no. 21970 of 07/30/2021

Merger - Incorporated company - Extinction - Active and passive entitlement in court - Intervention by the incorporating company - Effects The United Sections affirmed the following principle of law: the merger by incorporation extinguishes the incorporated company which cannot initiate a judgment in the person of its former director, without prejudice to the right for the acquiring company to explain pursuant to and for the effects of art. 105 cpc voluntary intervention in the course of a case. Source Supreme Court of Cassation...

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Turnover of Industry.

In June it is estimated that the turnover of the industry, net of seasonal factors, registers a cyclical increase of 3.1%, resulting from growth in both markets (+ 4.7% in the foreign market and + 2.1% in the indoor). In the second quarter, the overall index shows an increase of 5.2% compared to the previous three months (+ 5.5% on the domestic market and + 4.8% on the foreign one). With reference to the main groupings of industries, in June the seasonally adjusted indices of turnover show economic increases for all the main sectors: energy (+ 6.0%), intermediate goods (+ 5.0%), consumer...

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Italian industrial production, Growth in April and May 2021, Low inventories and accelerating demand.

Italian industrial production is expected to further increase in the spring months, after the recovery already recorded in the first quarter (+ 0.9%). After the retreat registered by ISTAT in March (-0.1%), in April and May the activity advanced at a moderate pace (+ 0.3% and + 0.4% respectively), supported by both components of the application. Entrepreneurs show greater optimism: the confidence index rose in May to its highest levels since the autumn of 2017, in line with the improvement in the health crisis and the relaxation of restrictions. Low inventories and accelerating demand herald further recovery of activity also in the summer...

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Banking contracts, Nullity of fidejussion contracts, Uniform conditions prepared by ABI, Civil Cassation, First Section, Interlocutory Ordinance n. 11486 of 30/04/2021

The First Civil Section handed over the documents to the First President, for the eventual assignment of the case to the United Sections in relation to the question, considered to be of the utmost importance, concerning the nullity of contracts stipulated in compliance with restrictive agreements on competition, in order to verify its applicability to bank guarantees given in compliance with the uniform conditions prepared by ABI, and in particular to establish: a) whether the total or partial coincidence with the aforementioned conditions justifies the declaration of nullity of the clauses accepted by the guarantor or only legitimizes the exercise of...

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