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Italian stocks lead Europe as budget deficit fears quelled

LONDON (Reuters) - Italian stocks turned from a drag into a boost for European markets on Wednesday as signs the government would target a lower budget deficit quelled investors’ fears of a damaging showdown with the European Commission. Italian bank stocks jumped as much as 3 percent after government bond yields fell back and the spread to Bunds narrowed thanks to reports the government was targeting a lower budget deficit in 2020 and 2021. Still in the thrall of developments on the Italian front, the leading euro zone stocks index and the pan-European STOXX 600 climbed 0.3 percent with bank stocks the best-performing, up 0.8 percent. Italy’s FTSE MIB outperformed, up 0.5 percent with the banks index last trading up 0.7 percent. Unicredit and Intesa Sanpaolo were among the top gainers, up 2.6 percent each, while Mediobanca, UBI Banca, and Banco BPM also rose as much as 5 percent. Banks, which have large sovereign bond holdings, suffer the most from selloffs in the bond mark...
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Dell sees brisk sales of new ultrabooks

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  Dell  Inc's new ultra-thin laptop computer meant to rival Apple Inc's popular MacBook Air is doing much better than the company expected. Sales of the XPS 13 ultrabook, which hit store shelves on Feb. 28, are now more than double the company's internal forecast, driven by strong demand from both consumers and big corporations, Dell said.  "With this product, we went aggressive with the forecast," Dell product marketing director  Alison Gardner  said. "Since we started shipping it to customers, XPS 13 has exceeded our expectations." Almost half of the sales of the XPS 13, which starts at $999, were to corporations, she added. Dell's so-called enterprise business has doubled in the past five to six years and now represents half of the company's profit. While Gardner declined to reveal the exact number of units sold so far or the internal forecast, she said Dell is seeing a lot of sales momentum for the super-thin category of laptops. ...
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Google Drive to offer free storage in the cloud

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Google has launched a new consumer service offering up to 16TB (terabytes) of storage for photos and other online content. Dubbed Google Drive , the service goes head to head with rival cloud services such as Dropbox and Microsoft's SkyDrive. It offers 5GB (gigabytes) of storage for free. People pay on a rising scale for more space. Experts say that Google is "late" to the market. 16TB of space could hold more than 4,000 two-hour movies coded in 720p high-definition resolution. Cloud living   "Today, we're introducing Google Drive - a central place where you can create, share, collaborate and keep all of your stuff," said Sundar Pichai, senior vice president of Chrome and Apps in a blog post. "Whether you're working with a friend on a joint research project, planning a wedding with your fiancé or tracking a budget with roommates, you can do it in Drive." The servic...
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