Acerinox calls for European protectionism

Nipon Steel Sells Half Of Its Shares In Acerinox

Nippon Steel has announced the sale of a 7.9% stake in Acerinox, the Spanish stainless steel manufacturer, for 218 million euros. The transaction was completed in a private placement by UBS amongst big investors in a few hours at 10.2 euros per share. The price was 5% below the close on Thursday June 17. So much paper has penalised the company’s share price and Acerinox started Friday 18th’s session with…

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ECB's president Christine Lagarde

The ECB’s Holistic Approach

Laura Becerra (Caixabank Research) | If we want to get a better understanding of monetary policy decision-making, we must pay close attention to changes in financial conditions. To do this, there is an important initial step: knowing how to measure them.

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merchbank

em currency performance since taper tantrum

The EM Currency Rally Still Has Legs

James Barrineau (Schroders) | Since March of last year, emerging market (EM) currencies have risen by a gaudy 12.8% versus the US dollar. Near-term there have been some sizable moves, such as a 10% gain for Brazil’s real versus the US dollar since the end of March this year. That naturally leads to the suggestion that EM currencies may be getting expensive, but such a view does not take into…

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interviews

nuria aliño

“I am Surprised That There Are So Few Open Banking Fintechs In Spain”

“Traditionally, financial services were provided by banks – in many countries three or four institutions have 80 or 85% of the market, and they do not always have a focus on financial inclusion – but that is no longer the case and there are new providers, such as ‘ANT FInancial’ in China or ‘Mercado Libre’ in Latin America, which started with payments and now offer a wide range of services. That is why open banking is important for the World Bank, because it favours competition and financial inclusion”, says Nuria Aliño, advisor to the World Bank.

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