CoM | The UK economy, the second largest in the Old Continent, stagnated in the fourth quarter of 2022, narrowly managing to avoid going into technical recession, following a 0.2% contraction in gross domestic product (GDP) in the third quarter of last year, the Office for National Statistics (ONS) has reported. Despite dodging recession in the last quarter of 2022, the British economy contracted by 0.5% in December, after growing…
Bankinter : Inflation rebounded three tenths to +2.1% in January (in line with expectations), but the fall in producer prices gained inertia (-0.8% vs -0.5% expected vs -0.7% previously). Analysis: The rebound in inflation is explained by the rise in food prices (+6.2% vs +4.8% previously) and the increase in demand, especially in leisure-related products and services after the lunar year. The decline in producer prices is good news because…
Allianz GI: Biodiversity loss is an underestimated environmental problem of our time. How could investors benefit from investing in solutions based on protecting nature? The main key issues are: Food production has caused 80% of deforestation and 70% of terrestrial biodiversity loss.Land degradation has cost 10% of annual global GDP in lost ecosystem services.Currently, only 3% of global climate finance goes to nature-based solutions.Investments in ecosystem restoration generate on average…
BBVA, Inditex, Mapfre, Ferrovial, Gestamp and Antolin are the largest Spanish companies with a presence in the country, to which Spain exported almost 6.1 billion euros up to November 2022, an increase of 22.4% (according to the latest available data published today in the newspaper Expansión). The nearly 70 Spanish companies with a presence in Turkey are assessing the impact of the earthquake that struck the country on Monday and…
Inditex has reached an agreement with the trade unions setting a fixed minimum wage from €18,000 for all employees in the shops of the group’s different brands throughout Spain, an amount to which will be added other variable payments such as those linked to seniority, commissions or night work, among others. It also approves aid for children and adoption, salary increases on Sundays and public holidays, higher commissions and bonuses….
Banca March | The lack of support from Germany and Spain for labelling nuclear-derived hydrogen – pink hydrogen – as “green” within the European taxonomy has infuriated the French government, which claimed to have the commitment of both countries. The dispute could call into question the construction of a gas pipeline linking Germany and Spain, as well as delaying European green legislation.
Agnieszka Gehringer (Flossbach von Storch Research Institute) | Governments are increasingly being given new tasks to achieve various economic policy objectives. Looking at the major eurozone members, this report shows that high expectations about the role of the state in solving the most pressing problems may be frustrated by declining productivity of public spending and decreasing government effectiveness. Public spending in the four large euro area Member States, Germany, France,…
Divacons / Norbolsa | A total of five Spanish banks are in the ECB’s top 20 in terms of assuming lower capital requirements in what is known as Pillar 2 by 2023, according to supervisory data published yesterday by the ECB. According to Alphavale-Divacons, these are Kutxabank, Bankinter, Santander, Caixabank and BBVA. Kutxabank is the Spanish institution that has received the lowest capital ratio for this year in Pillar 2,…
Of the 31 OECD countries analysed, nine recorded an increase in real per capita household income, while twelve recorded a fall, although among the large eurozone economies only Spain maintained its deterioration, with a loss of 7.85%, the worst figure of all the OECD countries. Although this household income exceeded pre-pandemic levels in the third quarter of 2022 in almost all OECD countries, Spain led the group of those that…
Link Securities | Telefónica has signed a strategic partnership agreement with the Saudi Arabian telecommunications operator STC Group to develop joint business in the Middle East and North Africa. With the signing of this agreement, STC Group becomes a member of TEF’s Partners Program, an initiative of alliances with other operators launched by the Spanish company in 2011 and covering more than 65 markets in Europe, Latin America, the Middle…