Spain’s energy market authorities has published an economic-financial analysis of the energy transport activity which Red Eléctrica carried out during the period 2013-2016. In this report, it has recommended a downwards revision to the financial remuneration rate for electricity transport for the next regulatory period beginning 1 January 2020.
Donald Trump has announced the US’ withdrawal from the agreement with Iran and will reimpose economic sanctions on that country. Bankinter analysts believe OPEC and Russia hold the possible solution to the crude supply problem, substituting the production which could be withdrawn from Iran.
J.L.M. Campuzano | Financial integration is a relevant factor for financial stability and facilitates the transmission of monetary policy. A few days ago, the ECB published an update on financial integration.
Two months after the general elections, Italy continues to be in a political deadlock. In fact,president Mattarella considers new elections in July a possibility if a “truce government” has no majority in Parliament. As negotiations continue, possibly preceded by a transition government, Italian authorities are tasked with passing the budget in the fall and approving a new electoral law that would deliver a clearer winner at the next election.
It seems Abengoa has reached an agreement with its main creditors who did not accept the plan (Liberty, Zurich and Exim US) to refinance its existing debt with a new bond issue under the same economic terms as the former senior debt but with a maturity date of six months earlier (up to March 2022).
As explained by as Philippe Waechter, Chief Economist at Ostrum AM, during the first quarter, growth was robust in the US and in Spain, slightly lower than expected in France and weaker than anticipated in the United Kingdom.
According to data from Citi, in 2017, non -technology companies accounted for two-thirds of all acquisitions of technology companies and 80% of global deal volume involving technology targets over $1bn in size was motivated by disruption.
Spanish Duro Felguera, specialized in turnkey projects within the energy, mining & handling, oil & gas, smart control systems and defense and security sectors, signed a Memorandum of Understanding with Metco Engineering for energy efficiency and resilience projects in the US. The deal is valued over $200 M per year.
Iberdrola which has 8% of Gamesa’s capital and supported the merger deal with Siemens sealed last year, is uncomfortable with the Siemens management in Gamesa. The merger agreement was subject to some conditions regarding the management and corporate governance of the new Gamesa, which Iberdrola is in the view that could be improved.
Eurozone GDP growth in Q1 arrived in line with a GDP tracker at +0.4% on a quarterly basis estimated by AXA IM strategists (versus a consensus of 0.6%) and reflected “the weakness in industrial production in several member states during January and February.”