Spanish economy

strike.es

A ‘Hot’ End To The Year In Spain: The Countryside, The Car Industry And Transport On The ‘Warpath’

The Government is facing a ‘hot’ end of the year in the face of demands being made by economic sectors as important to the Spanish economy as the countryside, the automotive industry and transport. They have already announced demonstrations in response to the problems their respective activities are going through. The Spanish economy is recovering the momentum it lost with the arrival of the pandemic. However, the global supply crisis…


endesa enel

Spain Spares Tax Pain For Iberdrola, Endesa; Higher Prices Promise Cashflow Gains Mostly From 2023

Spain’s reversal of plans for a windfall tax on power providers leaves utilities facing modest extra payments rather than multibillion-euro tax bills. Iberdrola SA, one of Spain’s biggest utilities, is a case in point, says Scope Ratings. Enel SpA, the Italian parent of Spanish utility Endesa, has provided less information though it is sticking to an EBITDA forecast for its Spanish activities issued before the energy levy was announced.


Cadiz

“Setting On Fire” As A Political Practice

Fernando González Urbaneja | The mayor of Cádiz has taken the lead in the incendiary protests his city is suffering with a striking statement: “We have had to set fire to Cádiz so that Madrid will take notice of us”. “Setting on fire” as a political practice is nothing new; there were times when it was common, with disastrous results. Here is a mayor with democratic legitimacy and with the…



Grifols

Grifols will use the funds from GIC to cut its debt; meanwhile other payment commitments have been generated

Renta 4 | Grifols (GRF) and GIC have obtained the relevant regulatory authorisations to allow The Sovereign Wealth Fund of Singapore to go ahead with its investment to buy 23.8% of Biomat for 990 million dollars. Grifols will, of course, still maintain operating control of the company, as well as access to the recovered plasma in the over 300 plasma donation centres Biomat has in the United States. The funds…


Garanti BBVA

BBVA: Turkey Is Better Than The US Or Spain

Fernando González Urbaneja | Turkey consolidates BBVA’s internationalisation as the third leg of a bank based on Mexican, Spanish and Turkish business. Three different markets, three currencies, three economic areas. Diversification with risks, perceived as an opportunity. The Turkish bet is not new. It dates back to 2011 when the bank led by Francisco González surprised the market with the purchase of an almost majority stake in Garanti (49%), one…


Acerinox cool

Acerinox Is A Potential Jewel For A Long-Term Investor

Renta 4 |In the case of Acerinox, there is a lot of data which grabs the attention, both at a technical and valuation level. During the last 15 years, the price has been forming a defined lateral range, with resistance between 12,70 and 13,75 euros (historic highs). This kind of very long consolidation (in the price) precedes important long-term trends. So it is possible to consider the potential for an…


escriva

Government And Trade Unions Agree That Companies Will Assume 83% Of The 0.6% Rise In Social Security Contributions

The employers represented by their employers’ associations, CEOE and CEPYME, announced yesterday that it is impossible to reach an agreement with the Government and trade unions to establish an “Intergenerational Equity Mechanism”. This is what the Government and trade unions intend to do, with a 0.6% rise in contributions over 10 years to alleviate the deficit that will result from the retirement of the baby boom of the 60s. In…



BBVA Holvi

With The Turkish Lira At Historic Lows, BBVA Launches A €2.25 billion Takeover Bid For The 51% Stake In Turkey’s Garanti It Does Not Control

BBVA, which currently holds 49.85% of the capital of Turkish bank Garanti has agreed to launch a voluntary takeover bid for the remaining 50.15% it does not hold. BBVA is offering Garanti’s shareholders 12.20 Turkish Liras in cash for each share of the Company. This is a 15% premium to the 10.58 Turkish lira at which the bank’s shares were trading on Friday 12 November. The maximum amount to be…