ArcelorMittal, the leading global integrated steel and mining firm, said it posted net profit of 4.568 billion dollars in 2017 (3.670 billion euros), 157% up from a year earlier. It will also pay a dividend again for the first time since 2015.
Cepsa wants to open up a gap for itself in the sector for commercialisation of residential electricity and gas, with the aim of grabbing a 1o% share over the coming years. It will thus become one of the four main operators along with Endesa, Iberdrola or Gas Natural Fenosa.
“Having board members who have experience of different environments, geographical or business, help the board to function better. On the boards in Spain where I am a member there is this international presence and there are members of different nationalities. But on a board of directors more importance shoud be placed on expertise than on nationality.”
Banco Santander posted profit of 6.619 billion euros in 2017, up 7% from a year ago. The profit figure was affected by extraordinary charges totalling 897 million euros.
The cuts which the Economy Ministry want to implement in the distribution of gas to networks could amount to over 1 billion euros in three years. And this has set off the alarm bells amongst the big financial institutions and international funds, which have invested a lot in this sector in Spain
The launch of Amazon Go on January 22 is poised to alter the retail industry by radically simplifying a chore most of us do every day: grocery shopping. Seattle, home to Amazon’s headquarters, saw the opening of a first grocery store that will operate without a checkout line.
The Cabinet has approved the takeover bid for Abertis launched by Atlantia for the former’s toll motorways in Spain.
Oil continues to flirt with USD 70 per barrel and it remains to be seen if prices are able to lastingly settle above this much-watched level with the latest up move. Global growth optimism, the bullish market mood and technical momentum still provide robust support.
Portugal’s amazing economic recovery (contrary to the general consensus two years ago that it would be the next country to fail amid the sovereign debt crisis) is now reflected in its investment grade (an investment grade rating except from Moody’s). Investors are buying both shares and bonds.
Bankia posted net profit of 816 million euros in 2017, up 1.4% from a year earlier, thanks to the progressive stabilisation of the bank’s gross margin due to a greater marketing push.