Business News & Financial News

Spanish economy 25th April 2024

Sánchez loves Gómez… and threatens to resign on the day a judicial investigation into his wife’s shady business dealings is opened

Yesterday morning, a judge opened an investigation into the shady business dealings of Begoña Gómez, the wife of Prime Minister Pedro Sánchez, which we have already reported on in The Corner: “Something fishy in La Moncloa: Pedro Sánchez’s wife recommended two companies in a public tender for a €7-million contract” And in the afternoon, in a letter posted on his social networks, the president of the government announced that he…

European economy 25th April 2024

German government revises 2024 growth estimates upward from 0.2% to 0.3% year-on-year

Bankinter : The German government has improved its growth estimates for 2024. It revises upwards by one tenth of a percentage point to +0.3% YoY (vs +0.2% prev.) the GDP growth expected this year. Maintains the estimate of +1.0% for 2025. Analysis: Positive news. The German government expects both consumption and industrial activity to perform better than estimated this year. The good evolution of inflation (+2.2% in March), the likely…

World economy 25th April 2024

Meta achieves $12.369bn BNA, ad revenue rises, but guidance looks sluggish

Bankinter: 1Q2024 results good, but guidance weak. The stock falls 15% in the aftermarket. Key figures vs. consensus (Bloomberg): Revenues $36.455M (up 27% year-on-year) vs. $36.125M consensus estimate and $34.500M/$37.000M by the Company, EBIT $13.818M (up 91%) vs. $13.400M and EBITDA $12.369M (up 117%) vs. $12.070M estimate. Daily active users reached 3,240M (up 7% year-on-year) vs. 3,190M in the previous quarter and 2,114M estimated. Average revenue per ad up 6%…

“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