Business News & Financial News

In Spain 19th June 2025

Entrepreneur Recommended by Sánchez’s Wife Indicted by European Public Prosecutor’s Office

In April 2024, the wife of the Prime Minister and Secretary-General of the PSOE signed at least two letters supporting the UTE (Temporary Union of Companies) formed by entrepreneur Barrabés’s consultancy in two bidding processes initiated by Red.es in 2020. The company, backed by Begoña Gómez, ended up winning the three lots it bid for, totaling €10.2 million, after outperforming other rivals in the subjective evaluation part of the tenders….

In Europe 18th June 2025

First day of Paris Air Show sees Airbus get orders for 132 aircraft from two Saudi companies, Poland’s LOT and Japan’s ANA

Bankinter | Airbus announced yesterday several orders for 132 cargo and passenger aircraft on the first day of the Paris Air Show being held this week, from Saudi leasing company AviLease (40 aircraft of various models, which could be expanded in the future), Riyadh Air (25), Polish airline LOT (27) and Japanese airline ANA(40). Analysis team’s view: Good news on orders, although the company’s main challenge remains to speed up…

World economy 18th June 2025

OPEC+ forecasts supply from producers outside organisation to increase by 730,000 b/d in 2026, compared to 800,000 in previous estimate

Link Securities | According to a report yesterday by Dow Jones, the Organisation of Petroleum Exporting Countries (OPEC) has reduced its estimate for oil supply growth next year for both the US and other competitors, while maintaining its oil demand expectations unchanged as it continues to increase production. OPEC now expects supply from non-OPEC+ producers to increase by 730,000 barrels per day in 2026, compared to 800,000 barrels per day…

“We need to approach negotiations with the U.S. on terms that are completely different from those currently being proposed”

Says Antonio Bonet, president of the Club of Spanish Exporters and Investors. He points out that “Europe has a single tariff applied by all member states, but the U.S. applies a tariff to each country, meaning it can decide that the tariff applied to Spanish black olives is higher than that for Italian olives, as it did at one point. So there is a part of the negotiation between Europe…

“Fifteen years ago, the European economy was larger than that of the U.S. Today, the U.S. economy is one and a half times that of Europe”

“It is a shame that we are able to mobilize economic resources for large-scale projects abroad, but not in our Spanish market”

In an interview with Consejeros magazine, Sacyr’s coordinating advisor, Elena Jiménez de Andrade, explains that now “We have great capacity to win projects, a capacity that until now contrasted with a series of financial limitations and balance sheet size. However, in this strategic cycle, we are going to eliminate those barriers. That is why we have set an ambitious goal for 2033: to triple the value of our assets. We…

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