Volterra semigroups have invariant subspaces (Q1283030)

The article is devoted to the solution of the Volterra semigroup problem. This problem was raised by \textit{E. Nordgren, H. Radjavi} and \textit{P. Rosenthal} [Indiana Univ. Math. J. 33, 271-275 (1984; Zbl 0579.47041)] and has the following form: does every (multiplicative) semigroup of compact quasinilpotent operators on an infinite dimensional Banach space have a nontrivial invariant subspace? The problem is solved with no additional conditions related to nuclearity, positivity, special spectral behaviour and so on. Some consequences are also considered.