Business News & Financial News

Spanish economy 9th May 2025

Iberdrola to halve investment in renewables next year to focus efforts on networks

Banco Sabadell | According to press reports, Iberdrola will halve its investment in renewable energy next year, from around €8 billion to €4/€5 billion per year. Iberdrola has decided to continue rebalancing its investment effort towards networks and reduce its investment in renewables, where it will invest selectively. Thus, between 2024 and 2026, the investment forecast for networks amounts to €21.5 billion. Of the €15.5 billion it will invest in…

European economy 8th May 2025

Retail sales fall 0.1% in both Eurozone and European Union in March

CdM | Retail sales fell by 0.1% in March in both the Eurozone and the European Union (EU) as a whole compared to the previous month, according to data published by Eurostat, the EU statistics office. In year-on-year terms, the volume rose by 1.5% in the Eurozone and 1.4% in the EU. In detail, compared to the previous month, the volume of retail trade in the eurozone fell by 0.1%…

World economy 9th May 2025

Sacyr wins water concession in Chile with initial investment of €260m

Intermoney | Sacyr (SCYR) (Buy, Target Price €4.4/share), the Group has been awarded a water cycle concession in the region of Antofagasta (Chile), which will involve an initial investment of €260 million, with a duration of 35 years. This is the largest water reuse project in Latin America, which involves the construction of a wastewater treatment plant for subsequent commercialisation. The main function of the project will be to capture…

“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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