Italian Banking M&A: Monte dei Paschi di Siena (MPS) has set out the terms of two defensive all-stock swaps to counter Intesa Sanpaolo’s takeover bid for Banco BPM and Banca Generali, valuing the package at about €34bn (Banco BPM: €25.3bn; Banca Generali: €8.72bn) and including a €4bn distribution to MPS shareholders plus expected annual pre-tax synergies of ~€2.6bn. Energy Infrastructure: Terna is pushing Italy’s submarine interconnection build-out, highlighting the Tyrrhenian Link (Sardinia–Sicily–Campania) with 970 km of cables and €3.7bn investment to strengthen the grid and position Italy as a Mediterranean energy hub. Markets & Rates: European shares edged up but stayed on track for a weekly loss as oil prices and bond-market volatility weighed on sentiment; Banca Generali slid after MPS’s counter-move. Tech & Telecom: EE (BT) launched a consumer 5G network slicing offer (“Fast Lane”) for dedicated capacity during busy periods, as Europe moves from trials toward mainstream commercialization. Health & Vaccines: Bavarian Nordic warned that climate change is widening the spread of tick-borne encephalitis and chikungunya risk into more European regions, boosting demand for its vaccines. Crypto & Finance: Reuters reports Tether’s abandoned Uruguay bitcoin mining plan unraveled amid energy-supply disputes, underscoring how mining economics are getting harder as energy costs rise.