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“New” Sacyr Basing Its Business On Concessions – Aims At Profile Like Vinci Or Eiffage
Sacyr did well out of the housing bubble in Spain: its Ebitda was multipled by 2.9 between 2001 and 2007. Now the new Sacyr is building its business around concessions, aiming to mimic the business models of the French companies Vinci and Eiffage.
Yen, Yin And Yang: Renewed Japan Currency Strength Comes At A Bad Time
“The JPY’s refusal to heed the BOJ’s quest for higher inflation — a consequence of its role as a funding vehicle in the carry trade—has served up a firm reminder of the immense challenges still facing Shinzo Abe’s Japan,” says BNY Mellon senior currency strategist Neil Mellor.
Are European Corporates Really Witnessing A Maturing Economic Cycle?
For the past couple of months, Eurozone business surveys have been reporting growing labour shortages, flags a report from AXA IM. “While bearing in mind the potential differences in sample represent activeness and statistical methodologies, it remains remarkable that these reported hiring difficulties are even larger than reported by US corporates,” the firm’s analysts explain.
Spanish Household Debt Continues To Fall: 61% Of GDP (Down 3%)
J. L.M.Campuzano | Spanish household debt continued to reduce in 2017, reaching 61% of GDP (down 3%), according to the Bank of Spain. It has fallen 24% since its máximum level reached in 2010. Company debt at the end of the year amounted to 78% of GDP, with a fall of 5% over 2016. Company debt has fallen 39% since its maximums.
Should Germany Pay For Greece, Italy And others?
In a speech given on 11 June 2018 in the IFo Institute (Munich), former Greek Finance Minister Yanis Varoufakis noted the urgent need for a fiscal reform, which France and Germany see in a very different way, in order to save the Eurozone.
The QE Is Very Probably Dead
The ECB’s chairman endorsed the optimistic staff forecast enough to justify the end of QE for December 2018 and then spent the rest of the press conference insisting on the downside risks. This was the only way that BoAML’ s analysts find to deliver what they think about Mario Draghi’s main challenge: making sure that there would not be any continuum in the market perceptions between the end of the net purchases and a brisk pace of normalisation on rates.
Why Saudi Arabia Might Wish Push Through An Oil Production Hike At This Point In The Cycle
One of the more interesting stories that seems to have flown beneath the radar of the foreign exchange market this week was that the US government has quietly asked Saudi Arabia and some other OPEC producers to increase oil production by around 1 mn barrels per day, according to Simon Derrick Chief currency strategist of BNY Mellon.
Repsol Enters Full Speed Into Spain´s Electricty Generation Market As Fifth Largest Trader
Repsol and Macquarrie, the fund that controls Viesgo, have agreed the principle points of the agreement for the acquisition of the Cantabrian electricity company combined cycle gas power plants and retail business. The operation is valued at over 500 million euros and involves near 730,000 customers.
Global Synchronisation Of House Prices: Causes And Consequences
After reaching a low point in 2014, house prices in Spain have now been on the rise for several years. As noted by CaixaBank’s strategists, this notable increase in house prices in major cities, especially if compared with the price trends in other areas, is a common phenomenon in many countries.