The Art of the Back-Pedal
John Feffer (Fair Observer) | From the US to the UK to Turkey, it is a hallmark of right-wing populists to make a preposterous policy and then be forced to retreat.
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Trump is flouting global trade rules with China yet embracing them with the EU – here’s why it matters
Charles Hankla (The Conversation) | Just as America’s trade war with China may be winding down, its troubles with Europe seem to be growing.
The Inflationary Supply Of Unbacked US Dollars And The Price Of Gold
Let us talk about the relation between the US dollar price of gold and the quantity of US dollar. In fact, one would think that it is, economically speaking, a rather straightforward relationship: All you need is to compare the supply of physical gold and the quantity of US dollar.
Viscofan preliminary 3Q19: volumes and margins feel impact of swine fever
Renta4 | We forecast that the weakness in packaging which has been seen all year will continue, despite the better performance than last year, especially in Europe and Asia (substitution effect) and with African swine fever in China as the main focus of uncertainty for the following quarters.
Real Estate: REITs, best option among traded companies; Merlin Properties main recommendation
Bankinter | At this point of the cycle is it more attractive to invert in real estate through traded companies than real estate assets.
Spain’s unemployment rate falls below 14% for the first time in 20 years
Spain´s unemployment rate fell to 13.92% in the third quarter, compared to the estimated 13.75% and 14.02% in the previous quarter. According to the Active Population Survey (EPA) published on Thursday by the National Statistics Institute (INE), unemployment fell by 16,200 persons in the third quarter, 5% less than in the previous quarter, leaving a total of 3,214,400 unemployed.
Siemens Gamesa’s acquisition of Senvion Deutschland is positive for whole wind energy industry
The purchase price agreed by the Spanish-German renewable energy company for the acquisition of par of the onshore European assets of the aerogenerator maker Senvion Deutschland rises to 200M€.
Enagas: modest results (NAP +2%) but slightly above the consensus
The Spanish gas company presented its results for the first nine months. These are the main figures: Total income 884 M€ (-1.3%), EBITDA in book value 767 M€ (+6.9%). Net Annual Profit 333 M€ (+2.3%), Operational Cash Flow 775 M€ (+17) and Net Debt 4.234 Bn€ (vs 3.623 Bn€ in December 2018).
Santander sells its Puerto Rico subsidiary for PER 9.5X
Renta4 | The bank has reached an agreement for the sale of Santander BanCorp Puerto Rico (including the banking business Santander Puerto Rico and the insurance business Santander Insurance Agency) to First Bancorp for 1 billion dollars.
Corporate profits under pressure
J. P. Morgan | Following a complicated fourth quarter last year, world markets have recovered strongly so far in 2019.