Spanish Economy Minister Luis de Guindos has been chosen by euro zone ministers on Monday afternoon to replace ECB Vice President Vitor Constancio. Ireland withdrew the only other candidate, central-bank governor Philip Lane, at the start of the meeting.
Articles by The Corner
As part of its restructuring process, Siemens is preparing a stock market listing for its health division, which will be the biggest operation to take place in Germany (it will make its debut on the Frankfurt stock market) since the IPO of Deutsche Bank in 1996. The company is valued at around 40 billion euros.
Spain is the European country with the highest fibre to the home (FTTH) penetration rate in Europe, with 33.9%, after clocking up around 1.61 million new subscrbers between September 2016 and September 2017,
Toxic, unproductive or problematical, or however you want to call those assets which were the ruin of the Spanish banks, are not easy to get rid of. Assets linked to the property bubble reached over 300 billion euros at the worst point of the crisis, between 2011 and 2012. But thanks to the lenders’ huge efforts, the last official figure from the Bank of Spain stands at 190 billion euros.
After thirty years, with the MSCI emerging markets at a historical high, having outperformed developed markets for the past two years. What should we expect going forward ?
On January 23rd, Germany’s Dax jumped to a new record high. But after no more than eight trading days, the German benchmark index lost over 7%, wiping out all year-to-date gains. Deutsche Bank AM’s reaction is optimistic instead: Its preference of German equities is the healthy macroeconomic environment and state of German corporations. On a 2-year horizon, the Dax could even climb to 15,000 points.
After US inflation beat estimates in January, it’s likely the market will end up putting even more emphasis on the possibility of seeing inflation rates higher-than-expected months ago, or even stagflation. And, unfortunately, this will continue to spark potential over-reactions which would give way to strong, quick movements.
Yesterday, SiemensGamesa presented its strategic plan to 2020, baptised L3AD2020. The new strategy is centred on cost savings of 2 billion euros which will allow it recover margins (EBIT/sales) to around the 8/10% level.
The UK Court of Appeal has dismissed a demand from Three which blocked the new frequencies auction (planned for Autumn 2017), in turn blocking Telefonica’s share sale of O2. This is positive news for Telefónica as it means that it eliminates a practical hurdle for the company to be able to carry out the O2 share sale in the UK, raising funds to cut its debt.
Atul Singh and Manu Sharma | The Indian government’s latest budget courts the poor with an indigenous brand of socialism that relies on financial transfers and private provision of services in an election year.