Business News & Financial News

Spanish economy 19th April 2024

Puig Brands (Carolina Herrera, Paco Rabanne, Jean Paul Gaultier…) to go public on May 3, with valuation over €12.7 billion

Puig Brands – the group that owns Carolina Herrera, Paco Rabanne, Jean Paul Gaultier, Nina Ricci and Charlotte Tilbury – will go public on 3 May at a price of between €22 and €24.5 per share. That means a valuation of between €12.7 and €13.9 billion. And although it has not yet approved a shareholder remuneration policy, it says it expects to pay out 40% of its profits in dividends….

European economy 19th April 2024

Spain’s electricity cheapest in Europe, at €0 for half the hours in April

ASE Group | Until the 17th, the daily price of the Spanish wholesale market (POOL) in April stood at €5.40/MWh, the lowest since records have been kept for such a long period. Grupo ASE analysts highlight that in almost 50% of the hours the price has been zero or lower. In 84 hours (20.6% of the total) negative prices were recorded (between €0 and €-1/MWh) and the average price between…

World economy 18th April 2024

IMF revises growth projections upwards, signals “soft landing” for global economy

BancaMarch | The good and “less good” news from the IMF forecasts. Starting on the more optimistic side, they revise growth projections slightly upwards and suggest that the global economy may be approaching a “soft landing”. The “less good” refers to projections over a five-year horizon (+3.1%), the lowest in decades. GDP growth estimates for the global economy in 2024 increase by one tenth of a percentage point from those…

“Spain has a good energy plan but if things don’t change, it won’t be fulfilled”

José Bogas, ENDESAS’s CEO, explains in Consejeros magazine that “295,000 million of investment is needed for the period 2021-30, and we have many years ahead of us when when we are not investing at this pace. Of these 295,000 million, 118,000 million are for renewables; 85,000 for energy efficiency, but almost nothing has been done so far; 53,000 for networks, which is more than 5,000 every year and we have…

“In banking funds, there are sales targets and conflicts of interest”

“An electric car in Germany today emits more CO2 than a diesel or a petrol car. That’s the reality, because 50% of electricity is generated with coal”

The CEO of Repsol, Josu Jon Imáz, took part on June 22 in a debate organised by the newspaper El Correo, and took the opportunity to warn of the hypocrisy, inefficiency and paradoxes of European energy policy.For example, in Spain it is forbidden – by law – to explore for and produce natural gas “and at the same time we are encouraging companies to bring gas from the United States,…

…in the last week