Banco Santander increased attributable profit in the first half of 2018 to €3,75 2 million, 4 % higher than the same period of last year after a €300 million net charge primarily related to integration costs for Banco Popular. At the time of the Popular acquisition, on June 7 th 2017, the Group said it expected to register € 300 million in integration costs per year until 2019.
Articles by The Corner
Yu Yongding via Caixin | Washington launched its trade war against Beijing in part because of China’s long-running trade surplus with the U.S., but it turns out that the surplus isn’t as large as advertised. U.S. President Donald Trump has said that his country has an annual trade deficit of $500 billion with China. This is nonsense.
Benjamin Cole | Fed Chair Jerome Powell has stated the Fed’s 2% target is symmetric, which may be code words for “inflation a little above 2% is tolerable.” The US central bank may find fighting inflation resembles heart surgery with a chainsaw.
J.L.M. Campuzano (Spanish Banking Association) | In a modern world ever more dominated by technology and the growing digitalisation, the performance and weight of investment in intangible assets draws attention. We are talking about software and R&D, but also about data and whatever activity that generates property rights and economic competences, including publicity and staff training
Within the framework of the comercial dispute that the US has opened with the EU, the Trump administration has launched a special crusade against the producers of black olives in Spain. According to US authorities, they have been exported to the US at “dumping prices” and damaged the Californian olive sector. The US Commerce Department began investigations in July last year on the Spanish industry, which are awaiting final confirmation. The definitive decision will be known today Tuesday.
Eelke Heemskerk and via The Conversation | Who holds the power in international politics? Most people would probably say it’s the largest states in the global system. Yet multinationals like Apple and Starbucks still wield phenomenal power. They oversee huge supply chains, sell products all over the world, and help mould international politics to their interests.
America’s interests — not to mention image — took a major hit in Helsinki during the meeting between US President Donald Trump and Russian President Vladimir Putin. This is more than sufficient to provoke America’s concern about the direction Donald Trump is taking the country.
Acciona will construct a desalination plant in Saudi Arabia with a daily capacity of 210,000 cubic metres, having won the contract worth more than 200 million euros with the Saudi public company Saline Water Conversión Corporation (SWCC).
Sabadell has just announced the sale of real estate assets to the fund Cerberus for 9.1 billion euros. The assets have been given a net value of 3.9 billion euros, which means Sabadell will have to make provisions for 92 million euros. Cerberus will hold 80% of the joint Enterprise called NewCo, leaving Sabadell with 20%. Specifically, the operation has been structures through the issue of two portfolios of real estate assets commercially named “Challenger” and “Coliseum”.
German main bank expects to report pre-tax profits of around €700 M and a net profit of €400 M for the second quarter of 2018. However, some analists do not agree with Deutsche Bank´s optimism. For example Alphavalue points out that the bank has shown sleight of hand in selling results that appear better than they are.