For the past eight years, Spain’s Social Security has been in the red: while revenue has increased by just 1.8% vs 2009, retirement pension spending is 54% higher than in 2009. Given this, “it is vital to define a new intergenerational social pact”, says CaixaBank’s experts.
Russia’s economy of 140 million people has managed to survive inflation (2.5%) and the fall in the rouble, although it needs to make the energy miracle last one decade more to offset sanctions.
The Euro was by far the best performing G10 currency in 2017, returning 15 % over the period. ETF Securities’ analysts expect that the Euro should end Q1 2018 under the 1.20 level, broadly in line with Bloomberg consensus estimates of 1.19. However, they think “this displays the downside risk to the Euro remain elevated”.
Gas Natural’s main shareholders continue to analyse non-organic growth possibilities via acquisitions. The deal to which both Criteria Caixa (with 25% of Gas Natural) and Global Infrastructure Partner (with 20%) are dedicating more time is an eventual merger with EDP.
Yang Ge via Caixin | The views from inside and outside China sometimes seem worlds apart. On the one hand there are foreigners outside China, who are increasingly anxious about the nation’s potential to create a new global financial crisis. Then there are people on the inside, who sometimes seem oblivious to the huge amount of attention the world is paying them and are more focused on how to earn the next big buck from their massive market of 1.3 billion consumers.
Carrefour has announced a transformation plan to restructure its business over the next five years and turn around the current weak trend in its results.
Latest business surveys point to a strong growth momentum for the Eurozone recovery, closer to 3%. Indeed, following an estimated +2.3% GDP growth in 2017, AXA IM expects it to grow at +2.7% in 2018 .
Benjamin Cole | The US Senate Banking Committee Jan. 17 voted thumb’s up on Jerome Powell, President Trump’s appointment to the Chair of the Federal Reserve. Barring calamity, Powell should take over in February.
Mapping out a horizon for Spain, and recovering a common project for the country, is just what the Círculo de Empresarios (Businessmen’s Association) is trying to do with its latest working documents. The Circulo has 225 members and celebrates its 40 anniversary this year.
The price for Metrovacesa’s return to the stock market will be in the range of €18,0/€19,5 per share, implying an initial market capitalisation of between €2.730 billion and €2.957 billion.