Telefónica’s decision to reduce its reliance on Huawei is in line with the company’s strategy to have several different providers for the equipment for its 5G networks, which is expected to be widely deployed by 2022.
Atlantic Sentinel | Left-wing separatists would allow the social democrat to become prime minister a second time. Spanish Socialist Party leader Pedro Sánchez fell short of a absolute majority in Congress on Sunday to become prime minister a second time. However, left-wing separatists from the Basque Country and Catalonia have agreed to abstain from a second vote on Tuesday, which should allow Sánchez to scrape by with a majority of one.
Círculo de Empresarios | The Bank of Spain forecasts that the Spanish economy will embark on a gradual path of deceleration until 2022, and therefore maintains its 2% and 1.7% annual growth forecasts for 2019 and 2020, respectively.
Renta4 | The oil company has returned to the market for the first time since May 2017, closing an issue of 8 year bonds for 750 M€ at a price of 99.684% and fixed annual coupon of 0.25%, whose trading admission will be sought in the Luxembourg stock market.
Shaun Riordan | Pedro Sánchez has failed to secure election as Spain´s Prime Minister in the second investiture vote in the Spanish parliament today. He needed only a simple majority. But the break down in negotiations with Podemos, and their decision to abstain, left Sanchez´ socialist party (PSOE) in a minority. The problems between the two parties seem to have centred not on policy but on the distribution of ministerial portfolios in a coalition government. Sanchez conceded that Podemos could hold ministerial positions, but the far left party complained that the portfolios he offered lacked real substance.
According to the estimates of BBVA Research, social security enrollment increased 0.8% in second quarter , and unemployment reduced 1.6%.
J. L.M.Campuzano | Spanish household debt continued to reduce in 2017, reaching 61% of GDP (down 3%), according to the Bank of Spain. It has fallen 24% since its máximum level reached in 2010. Company debt at the end of the year amounted to 78% of GDP, with a fall of 5% over 2016. Company debt has fallen 39% since its maximums.
Israel Rafalovich | In the last few days a saying has frequently been heard in the corridors of the European Commission: “Spain is not Italy. With the new Spanish government it is now a Spanish spring.”
Recently there’s again been talk of a two-speed Europe. During the mini-summit two weeks ago, Merkel, Hollande, Italy, Rajoy, gave the green light to this latest spin. The Spanish PM has said the country would be at the nucleus of this.