Business News & Financial News

Spanish economy 24th April 2024

Bank of Spain warns government that housing policy – rent cap etc. – is having opposite effect to that intended

The Bank of Spain reviews the main real estate measures promoted by the Government, both in the purchase and rental segments, and concludes that they could end up resulting in an increasingly smaller market with higher prices. The BdE analyses rental price controls, a measure introduced temporarily by the decree on anti-crisis measures after the Russian invasion of Ukraine but made permanent by the housing law passed in April last…

European economy 23rd April 2024

Renault sells 549,099 vehicles in 1Q24 (up 2.6%) and confirms profit outlook for 2024

Norbolsa| Renault increased its sales in 1Q24 thanks to its financing division (up 27.9% year-on-year) and confirms its profit outlook for 2024. The company sold 549,099 units in Q1, 2.6% more than in the same period of 2023, registering a 1.8% increase in Q1 revenues to €11.7 billion, above estimates of €11.49 billion. Renault reiterated its guidance for FY24, with an operating margin target of at least 7.5% and FCF…

World economy 24th April 2024

BoJ preview: A still negative neutral rate calling for pause notwithstanding weak Yen

Alicia García Herrero (Natixis) | After the Bank of Japan (BoJ) terminated the key non-conventional monetary policy tools in March, namely the negative policy rate and the yield curve control (YCC), evidence on a strengthening virtuous circle between inflation and wages has been limited. However, real wages -which fell by -1.8% YoY in February – are unlikely to turn positive soon. Furthermore, services inflation excluding imputed rent softened to +2.9%…

“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,…

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