When Apple seems more Chinese than American

Ofelia Marín-Lozano (Capital Sicav) | Political events have always had a certain influence in the behaviour of financial markets in the short term. Although what dominates in the long term are company results, any uncertainty coming from the world of politics has a cost, and currently there are many uncertainties weighing on the minds of investors.

Thomas Cook.

Thomas Cook Bankruptcy: Losses (and opportunities) for the Spanish tourism sector

Ana Fuentes | On Sunday, hours before the giant Thomas Cook announced his bankruptcy, several Spanish businessmen in the tourism sector tried to avoid the fall of the British operator with an injection of 107 million. It was not enough. The Spanish employer Exceltur estimates the losses at 200 million euros and thousands of jobs are at risk. Direct competitors such as Tui, shareholder of the Riu Group, AIG and Internet platforms, however, will benefit.


Companies restructuring

When tadpoles become frogs?

José Carlos González Vázquez (UCM/MA Abogados) | Following the Anglo-Saxon model, the new European directive transforms the duties of directors – to the benefit of financial creditors. When? When insolvency is close.


IAG results exceed expectations

IAG results exceeds expectations

Renta 4 │ IAG results for Q219 exceeded expectations. It has maintained its guidance for 2019 and downgraded its expectations for oil prices. Positive impact on share price.

Massive KPMG fine: the straw that breaks the Big Four’s back?

 | Accountancy giants KPMG are set to pay €44 million in fines to settle allegations by the U.S. Securities and Exchange Commission (SEC) that the audit firm, one of the so-called Big Four, inappropriately altered already-complete audits. KPMG is accused of illegally obtaining information that several of their clients were in line for investigation by an American non-profit in charge of overseeing the audits of public companies—and then subsequently doctoring records to conceal transgressions.

cash flow

Net income is just an opinion, but cash flow is a fact

Pablo Fernández | It is commonly said that a company that showed a higher net income last year “generated more wealth” for its shareholders than another company with a lower net income. Also, following the same logic, a company that has a positive net income “creates value” and a company that has losses “destroys value”. Well, all these statements can be wrong.