Meloni’s Judicial Reform Defeated at the Polls
Italy’s constitutional referendum on judicial reform has failed, with the "No" vote winning 53.7% in a high-turnout election that spells trouble for the Meloni government. Meanwhile, markets are seeing a rebound, Epic Games is cutting over 1,000 jobs, and energy prices remain volatile.
News Roundup — March 25, 2026
Top Stories
Judicial Referendum: "No" Wins 53.7%
- What happened: Italian voters have rejected the Meloni government’s judicial reform. The "No" side secured 53.7% of the vote against 46.3% for "Yes." Turnout hit an impressive 58.9%—a massive jump compared to the 39.37% seen during the 2020 parliamentary reduction referendum.
- Why it matters: This is a clear political blow to the Meloni administration, which championed the reform. The Prime Minister called it "a missed opportunity" but insisted they would push forward. Meanwhile, opposition leader Elly Schlein celebrated the "extraordinary participation," crediting young voters for the result, while CGIL leader Maurizio Landini praised the defense of judicial independence.
Protests Erupt: Calls for Meloni to Resign
- What happened: Spontaneous protests broke out across Italy following the results. Demonstrators were heard chanting for Meloni’s resignation, and at courthouses in cities like Naples, some magistrates were seen singing "Bella ciao."
- Why it matters: The protests show that this vote has turned into a major referendum on the government’s stability ahead of future general elections.
Markets Rebound as Oil Prices Dip
- What happened: European and Italian markets saw a bounce-back on March 23 after weeks of anxiety over Trump’s trade policies. Oil prices, however, took a hit, and the 10-year BTP yield climbed above the 4% threshold.
- Why it matters: The instability in energy markets, compounded by Middle Eastern tensions, continues to cast a shadow over the global economy. The rising BTP yield has sparked fresh concerns regarding the cost of Italy’s public debt.
Business & Economy
Epic Games Cuts Over 1,000 Jobs
The Fortnite developer announced a massive round of layoffs on March 24, affecting over 1,000 employees. This is one of the most significant cuts the gaming industry has seen in recent months as the tech and gaming sectors continue to restructure globally.
ENI and STM Pay Out Dividends
Two FTSE MIB heavyweights, ENI and STMicroelectronics, issued dividend payouts on March 23. These are key dates for retail investors, even amid the current political uncertainty.
Wall Street Closes Strong
US markets ended the March 23 session on a positive note, led by strong performance in the financial sector. The US rally provided a nice boost to European markets the following morning.
Global News
Energy Markets Feeling the Heat
Middle Eastern conflicts are still putting major pressure on raw materials. While oil prices dropped slightly on March 23 due to potential diplomatic progress, uncertainty remains high, and traders are keeping a close eye on crude oil futures.
Tech Industry Layoffs Continue
The cuts at Epic Games are just the latest in a wider trend of downsizing across the tech and gaming worlds. These restructurings are affecting thousands of workers and continuing to influence the sector's performance on the stock market.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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