Italy employers' head now supports labor reform

MILAN (Reuters) - The head of Italian employers' lobby Confindustria said on Thursday that she supported Prime Minister Mario Monti's labor reform proposal only a week after she defined it as "very bad". "We wanted something different on the firing rules, but because of our great sense of responsibility, we will limit ourselves to making some requests for minor changes to the reform proposal," Emma Marcegaglia said at a conference. ...

Lower euro-zone yields, China GDP view lift Wall Street

NEW YORK (Reuters) - U.S. stocks rose more than 1 percent on Thursday as lower Italian bond yields eased some euro-zone concerns and rumors about China's strong GDP growth bolstered investors' appetite for risk. The S&P 500 popped above its 50-day moving average in a sign that traders may see the recent pullback of nearly 5 percent as an opportunity to catch up with the benchmark's performance. The index is up more than 10 percent for the year to date. ...

Berlusconi refuses to resign, dismisses protest (Reuters)

Reuters - Prime Minister Silvio Berlusconi said on Monday he had no intention of stepping down and dismissed a weekend demonstration by women across Italy over his involvement in a sex scandal.