Business News & Financial News

In Spain, Spanish economy 9th June 2023

The euro area entered a technical recession in 1Q23, the first since the beginning of the pandemic, with a 0.1% fall

CdM | The Gross Domestic Product (GDP) of the euro area recorded a contraction of -0.1% in the first quarter of 2023, marking the entry into technical recession of the region’s economy, following the fall in activity also of -0.1% in the fourth quarter of 2023, according to the latest revision of the figure published by Eurostat. In this way, the community statistics office has revised its previous estimate, published…

European economy, European politics, In Europe, Relevant News Item 8th June 2023

European Commission calls for end to emergency energy measures

Banco Sabadell: According to information in the press, the EC in a report sent to the Council and the European Parliament is calling for the withdrawal of emergency interventions in the wholesale market, such as the cap on income in the electricity market (€180/MWh in Europe and €67/MWh in Spain) for infra-marginal technologies (renewable, hydro and nuclear). The EC considers that electricity price peaks are not expected next winter like…

World economy 8th June 2023

ACS subsidiary to build next Buffalo Bills stadium in New York State for $1.5 billion

The US construction company Turner, a subsidiary of the ACS Group, chaired by Florentino Pérez, will be in charge of building what will be called the New Highmark Stadium, the new home of the Buffalo Bills American football team. It will work in consortium with the local Gilbane Building Company and the construction budget is close to $1.5 billion, according to the newspaper 5Días. The Bill’s future home, which they…

“Even small entities can now have systemic consequences”

Pablo Pardo (Washington) | “Even small entities can now have systemic consequences” says Margaret Franklin, presidente and CEO of the CFA Institute. In the English-speaking world, the acronym ‘CFA’ is often the first step towards serious entry into the financial sector. CFA’ stands for ‘Chartered Financial Analyst’, a qualification held by some 200,000 people worldwide and obtained through an examination administered by the CFA Institute. The CFA, chaired by Margaret…

Carlos Delclaux: “Europe has busied itself with giving lessons… but it has grown very fat with contentment”

Veronika Grimm: “the high costs of fossil energies represent a stimulus to accelerate the transformation towards renewable energies”

Lidia Conde (Francfort) | Veronika Grimm (Rendsburg, Germany, 1971) sits on the German Federal Government’s Advisory Council of Economists, which analyses the country’s economic development on the basis of scientific criteria and publishes a report every autumn in which it expresses its analyses and forecasts. Following its opinion, the government in turn responds to the council’s recommendations. Now, Grimm predicts that the economy of the continent’s leading power will shrink…

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