Business News & Financial News

Spanish economy 1st December 2022

Fedea detects 160,000 ‘hidden’ unemployed: The Employment Service secretly “adjusted” October figures

There was a trick to the surprising decline in unemployment in October, the largest in a month in which it increases almost every year. According to an analysis by Fedea, the result was influenced by a “non-communicated adjustment” by the SEPE in the records of job seekers with fixed-term contracts that generated a gap of 160,000 people with respect to the ‘official’ figure for the fall in the number of…

Companies, European economy, Ibex 26th November 2022

Iberdrola seeks investor for 49% Baltic Eagle offshore wind farm in Germany; would obtain €750 M

Banco Sabadell | According to press reports, Iberdrola has put up for sale a minority stake (49%) in the offshore wind farm Baltic Eagle in Germany (476 MW, with the start of construction expected for 2023, becoming operational in 2024). The wind farm could be valued at 1.5 billion euros (1.1% EV) of which Iberdrola would obtain 750 million. Valuation: The sale of minority holdings to fund renewables expansion is…

Companies, Ibex, World economy 1st December 2022

Acciona Energía to expand MacIntyre wind farm in Australia to 2.000 MW; most important project to date

Renta 4|Acciona Energía has announced the expansion of the MacIntyre wind energy complex which is currently under construction in Queensland, Australia. It will reach a total installed capacity of 2000 MW. The MacIntyre complex is divided into two wind farms, where Acciona Energia owns 70% of 923 MW, while 103 MW belong to Queensland state-owned company CleanCo. Valuation: Positive news. This is the most important project to date of all…

“Carbon Prices Are Having Perverse Effects”

Carlos Schwartz | Natalia Fabra is a director of Enagás and chair of the European programme “CURRENT TOOLS AND POLICY CHALLENGES IN ELECTRICITY MARKETS”. Q:There seems to be a shift in thinking about pricing mechanisms in the energy sector at the moment. A: Yes, it is part of the paradigm shift. It has been realised that, in the case of the electricity market, it is not correct to remunerate power…

“It Cannot Be That The Number Of Public Employees Rises And At The Same Time The Number Of Hours Worked Falls”

“In The Last Ten Years, While Consumption Has Risen By 1.3%, 24 Refineries Have Been Closed In The EU.”

Explains Mariano Marzo, Repsol board member: “If we are going to need oil and gas, and it is clear that they will be necessary for many years to come, we must guarantee their production without demonising them. Failure to do so means tackling an ill-considered energy transition, driven more by ideology than by technology” … “The main risk of this ideological approach, which is quite widespread in many European areas,…

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