Business News & Financial News

In Spain 13th June 2025

Police Uncover “Criminal Organization” in PSOE… Sánchez Apologizes but Says He’s Staying: “This Isn’t About Me”

Spain was stunned to discover how three of Pedro Sánchez’s four closest friends, who accompanied him in taking power first in the PSOE and then in the government, allegedly rigged elections, collected millions in commissions from public works contracts they awarded from the government, and placed their prostitutes in public sector jobs. A nearly 500-page report compiled by the Civil Guard transcribes eight audio recordings from meetings where they divided…

In Europe 13th June 2025

Telefónica commits to concrete investment in relevant digital infrastructure to convince EC to approve telecoms mergers

Link Securities | The company is willing to invest in data centres and cybersecurity services to convince European regulators to approve telecoms mergers, as the Spanish company aims to lead consolidation on the continent, Expansión newspaper reported yesterday. The group hopes its commitment to make concrete investments in major digital infrastructure will help convince the European Commission (EC) that fewer and larger telecoms operators would increase the bloc’s technological resilience,…

In the World 13th June 2025

Pending ratification by China, US to levy 55% tariff on Chinese imports and China 10% on American imports

Bankinter: Principle of a trade agreement between the US and China. Trump announced yesterday an agreement whereby China will supply the US with minerals and rare earths in exchange for allowing its students access to American universities. The US will levy a 55% tariff on imports from China (current 25% + 10% base rate + 20% for fentanyl trade) and China will apply a 10% tariff on US imports. The…

“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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