MADRID | By Julia Pastor | The European Parliament and the EU’s governments have just signed an agreement to develop a law that reinforces controls over high frequency computerized stock exchanges trading, in order to avoid sudden collapses of markets. To minimize the systemic risk, the algorithms will have to be examined and authorised by regulators.
Articles by Julia Pastor
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MADRID | By Julia Pastor | The ECB confirmed on Wednesday that held-to-maturity sovereign exposures portfolios will not be punished, and consequently marked-to-market, in the financial system stress test to be performed at the end of 2014.
MADRID | By Julia Pastor | Prisa, the symbol of the transition from Franco’s dictatorship to democracy, was born in 1972 as a family-owned business but since the end of 2010, the major company’s owner is US hedge fund Liberty Acquisitions Holdings with a stake of 51%. Prisa has recently carried out a new capital increase and all signs suggest that it could start to disinvest some of its more precious assets with the aim of cutting its overwhelming debt to the minimum. Poor management decisions taken along the way? Many workers don’t hide their disappointment with the firm and say things will never be the same.
MADRID | By Julia Pastor | The UK is the European country which has given more financial support to its banking sector with €82.000 millions since 2008, followed by Germany (€64.000 millions), Ireland with €63.000 and Spain with €60.000, according to an European Comission’s report.
MADRID| By Julia Pastor | Spain’s credit quality and solvency is increasingly improving. The country’s risk premium closed at 219 basis points on Tuesday to its lowest level since June of 2012, and under Italy’s. Also Spanish 10-years bonds neared 4% yield, more than double than the German ones. Public debt investors do not have much better options.
MADRID | By Julia Pastor | Banco Santander’s chairman Emilio Botín pointed it out a couple of weeks ago: “Everyone is interested in Spain to invest”. Meanwhile, Bill Gates bought 6% of the FCC. As if light had come to the Spanish economy, €20bn of foreign investment has flooded the country in the first eight months of 2013, doubling last year’s figures.