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Spanish economy

Strike

Spanish economy 18th March 2022

Truck drivers’ strike Threatens To Collapse Spanish Economy

El Mundo headlines today: “The transport strike is overwhelming the government and putting the country’s supply chain in check”. “The government no longer supports the right to strike and calls the transport workers ‘radicals’”, underlines El Español. “The socialist law of pickets turns against the government in the radical transport strike” recalls the digital newspaper Vozpopuli.com… ArcelorMittal and Azucarera have decided to stop production. The dairy, steel and fishing industries…

iberdrolaTC

Spanish economy 17th March 2022

Iberdrola postpones its Investor Day, scheduled for March 22nd, in light of the current context

Bankinter | The company has decided to postpone sine die its Investor Day, during which it gives an update on its earnings outlook, dividend and strategic coordinates. This year’s Investor Day was set for Tuesday 22nd March. The company is maintaining current estimates for its future performance. Analyst team’s opinion: Iberdrola’s decision to postpone its annual meeting with investors is logical. The group is facing a high level of uncertainty…

NuñezFeijoo

Spanish economy 17th March 2022

“The Government Gets Rich”, Feijóo Gets Down In The Mud

Fernando González Urbaneja | From Núñez Feijóo we expect seriousness, consistency, experience… he himself has reiterated this is what can be expected of him at this stage of his political career. He is not lacking in evidence and reasons, although national politics, that which is called Madrid, has its handicap for those of us who come from outside. For those in the PP, Feijóo’s direct attack on Sánchez, with the…

Inditex

Spanish economy 16th March 2022

Inditex posts 2021 profits of €3.243 Bn, up 193% vs 2020

Inditex posted net profit of 3.243 billion euros in its fiscal year 2021, up 193% from a year earlier, when its earnings were hit by the Covid-19 pandemic. The figure was still 11% below the 3.639 billion euros recorded in 2019. Total sales at the Zara owner rose 36% to 27.716 billion euros year-on-year, while online sales increased by 14% to 7.5 billion euros, 25.5% of the total in 2021….

Spanish companies' cost of financing at minimum lows

Spanish economy 16th March 2022

More Than 3 Million Companies Created In Spain In The Last 30 Years

According to a study presented by Informa D&B, during the last three decades more than 3,173,000 companies have been incorporated in Spain. Among those created in 1991, 2001 and 2011 it can be seen that most of them are no longer active. Of those incorporated in 1991, 16% are still in the market, among those created in 2001, only 21% are still in business and 32% of those that started…

Private Equity

Spanish economy 15th March 2022

Private equity turned over 52.220 billion euros in Spain in 2021, up 87% year-on-year

Fernando Rodríguez | The market for Private Equity in Spain clocked up a new historical record of activity in 2021, after two years of declines in investment volumes due to the Covid-19 pandemic. According to data from Mergermarket included in the report from the legal firm Cuatrecasas “Market Trends in Iberian Private Equity Transactions”, the sector turned over 52.220 billion euros in Spain last year. This was 87% more in…

hybrid car

Spanish economy 15th March 2022

The Unbearable Taxation Of Fuels

Fernando González Urbaneja | Inflation is reaching unimagined and growing levels. From a cyclical episode last summer, it has become structural, with fuels (oil and gas) as uncontrollable accelerators. On the one hand, there is the direct effect of increases in electricity (affected by gas) and natural gas prices, and also of fuels (petrol and diesel) linked to the price of a barrel of oil. The direct impact of these…

LNG regasification ship

Spanish economy 15th March 2022

The US Became In February The Main Exporter Of Natural Gas To Spain, Ahead Of Algeria

The United States has consolidated its position in February this year as the main exporter of natural gas to Spain. And for the second month in a row, purchases of this raw material from the US country have exceeded those from Algeria, the main supplier until the end of last year. This is revealed in the statistical bulletin of Enagás, the Spanish gas system operator. It flags that in February…

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Spanish economy 14th March 2022

Collective Bargaining Wages Rise By 2.2% Until February, When The CPI Rose To 7.6%

According to data from the Ministry of Labour, wages agreed in collective agreements rose by an average of 2.26% up to February, two tenths more than in January and almost eight tenths above the average for 2021 (1.47%). However, this is far off the CPI, whose final figure for the second month of the year was 7.6%, the highest rate in almost 36 years. Most of the agreements registered up…

Sanchez Feijoo

Spanish economy 14th March 2022

New Leader Of The PP Debuts With An Agreement With The Government, Which Agrees To Lower Taxes

Yesterday, during the meeting of the Summit of Autonomous Community Presidents held on the Canary Island of La Palma, Prime Minister Pedro Sánchez proposed a change in his fiscal policy by proposing a tax cut, set out in the so-called Declaration of La Palma. Sánchez has not specified what this tax cut the government is working on will entail. He has limited himself to assuring it will alleviate the “sectors…