Fernando González Urbaneja | I will not be so naïve as to hold up the impartiality, objectivity, neutrality, independence… of the media and journalists. Too many years in the profession to remain trapped in that angelic vision. We are not neutral and independence goes by neighbourhoods, topics and times. Each media outlet, each journalist has his/her preferences, biases, sympathies (and antipathies that may not be very bearable) in more or…
Prime Minister Pedro Sánchez will finally receive the President of the United States, Joe Biden, this Tuesday at the Moncloa Palace. This will be with a view to staging what the Executive has endeavoured to ensure is a solid bilateral relationship after the failed meeting a year ago that ended in a brief chat lasting barely 30 seconds. The US president is travelling to Madrid for the NATO summit, an…
The package of measures – valued at 9 billion euros and approved last Saturday by Pedro Sánchez’s government – to contain the impact of the inflationary spiral, comes into force today. The Royal Decree, with measures ranging from pensions to the butane cylinder, electricity generation and the gas market, was published in the BOE yesterday, Sunday. This was just hours after being announced by the Prime Minister following an extraordinary…
Surprisingly, outside the agenda of the General Shareholders’ Meeting, the representative of Amber Capital – which controls Grupo Prisa (El País, la SER…) and announced a week ago it also controls 4.1% of Indra – has proposed the removal of 4 of the company’s remaining independent directors: Alberto Terol, Enrique Leiva, Carmen Aquerreta and Ana de Pro. A proposal that has had the support of 53% of the capital, including…
Ford’s Valencian plant in Almussafes has finally been chosen to develop the automaker’s two new electric vehicles, thus beating the German plant in Saarlouis with which it was competing. The news guarantees the maintenance of employment in the region in the coming years and ensures that the Valencian plant, which employs around 6,000 people after several redundancy plans, will maintain its workload from 2025. By 2024, the plant was expected…
Morgan Stanley | We have analysed the air traffic from the main European aiports (ADP, Aena, Fraport, Heathrow, Zurich) in May. In general, all of them have beaten our expectations. Specifically, Aena offers the best figures, with 22.2 million passengers, only -10% vs 2019 (and -7% vs 2019 in seat capacity). Looking ahead to the summer, we expect seat capacity to stabilise (-5%/-8% vs 2019), which could come under pressure…
The resignation of both comes in the midst of negotiating far-reaching reforms such as pension and self-employed quotas, as well as welcoming migrants due to the war in Ukraine. The two Secretaries of State that the Minister for Inclusion, Social Security and Migration, José Luís Escrivá – who, with an arrogance worthy of a better cause, disqualified a few weeks ago the Bank of Spain’s criticism of the Government’s proposed…
Link | The governor of the Central Bank of France and member of the ECB’s Governing Council, François Villeroy de Galhau, said in an interview yesterday that the tool being designed by the ECB to prevent fragmentation in the eurozone must send a message that there will be no limits. The more credibility it has, he said, the less it may have to be used. Villeroy defended the sale of…
Renta 4 | S&P has maintained Sabadell’s long-term debt rating at BBB-, while improving the outlook to “positive” from “stable”. Valuation: Positive news. This improvement of the outlook opens the door to a possible improvement of the rating in a time period of 12-24 months if it increases the size of its buffer of subordinated instruments. And that it offers a clear vision on its Additional Loss-Absorbing Capacity (ALAC) cushion…
Juanma Moreno Bonilla, the leader of the PP in Andalusia, will be able to govern the autonomous community with a comfortable absolute majority (58 seats out of a total of 109) after winning 42% of the vote, more than one and a half million ballots, against a PSOE that won less than one million, 25% of the vote, and 30 seats, three fewer than in the previous legislature. Vox, the…