Daniel Kapellmann | Whereas it took some 10 years to negotiate and enforce a mechanism to strengthen commercial bonds between Canada, the United States and Mexico, today, after 23 years in existence, the North American Free Trade Agreement (NAFTA) may be overrun in just a couple of months.
Fernando Rodríguez |Bankia’s stock market gains after the news that it will takeover BMN exceeded market consesus. But the future of Bankia’s stock price in the short-term will depend on the small print and the ratios of the merger.
Fran Wang via Caixin | China signaled it isn’t ready to reimpose restrictions on coal production, following price spikes several weeks ago when rumors surfaced that the central government might revive supply-reducing curbs.
Wall Street’s market is celebrating eight years of uninterrupted rises. The PER of the SP500 was 10.9 on March 9th 2009, and it is now 19.8, with the historic average at 15.6.
Telefonica has reached an agreement with Vodafone which will allow the latter to access its fibre optic network both in non-regulated areas (the 66 most populated cities in which Telefonica is not obliged to share its infrastructure) as well as in a significant part of the regulated zones.
The Ibex 35 companies ended 2016 with earnings of 34.1 billion euros, up 46.7% from a year earlier. This figure includes the results of Inditex, which on Wednesday reported a 10% rise in profits last year to 3.157 billion euros.
Caixabank has informed Deutsche Bank’s management team of its interest in the German bank’s Spanish subsidiary in the event of a sale. The approach was made in 2016, before Deutsche Bank reached an agreement with the US Department of Justice to reduce the fine for selling “subprime” mortgages to $7.2 billion
Is gold really the best hedge against risk and should we go back to the gold standard? Gold has been stable for a century, but in the last 50 years it has appreciated a lot, seeing a lot of volatility.
One of the benefits of the Talisman acquisition for Repsol has been precisely the reduction of geopolitical risk in its Upstream business, given that the lion’s share of its Downstream activity is carried out in Europe.
Repsol and its partner Armstrong Energy have made the biggest conventional discovery of hydrocarbons in the last 30 years on US territory. The total amount is approximately 1.2 million barrels of light recoverable oil, a figure which is equivalent to four years of consumption in Spain.