After several months of buildup, the Trump’s tax reform was finally unveiled on September 27. To better understand the potential implications for investors, Curt Overway, CFA from Natixis Global AM offers insight on what the tax reform proposal means for investors’ portfolios. A few observations can be made.
Since it announced the sale of its concessions division in Mexico, its biggest source of earnings, OHL is expected to look for alliances to regain muscle. A merger with another European construction company could be a possibility.
John Bruton | The current political system in the United Kingdom, and the anxieties and obsessions it has generated, determine the British position on Brexit. This expresses itself in an artificially inflexible and brittle interpretation of the 2016 referendum result. Scope and time are needed for creative thinking.
J.L.M. Campuzano (Spanish Banking Association) | An interesting study from the ECB about the structure of the financial sector in Europe shows the increasing weighting in the non-banking financial sector’s assets and the consolidation carried out by the lenders.
CaixaBank is one of the two Catalan banks which recently moved its headquarters and its fiscal centre from Barcelona to Valencia, due to the p0litical crisis in Catalonia. In the first nine months of 2017, the lender obtained net attributable profit of 1.488 billion euros (up 53.4% from September last year), and its largest quarterly profit, with 649 million euros.
According to market sources, Tecnicas Reunidas has presented the most competitive offer to construct two gas projects tendered by Saudi Aramco. Other companies involved in the bid are Saipem and Samsung E&C. The result could be announced at the beginning of November.
Jens Bastian via Macropolis | China is rather a newcomer to the region of southeast Europe. Compared to other countries and multilateral institutions – such as Russia, the European Commission or the EBRD – China is starting almost 30 years after the Fall of the Berlin Wall to establish a footprint in the region
Liberbank has signed a binding agreement to set up a company with Bain Capital Credit and Oceanwood. The aim will be to administer, develop and dispose of a portfolio of foreclosed property assets belonging to the LBK group.
Hochtief has launched a €18.76 cash or share offer on Abertis, raising speculation around a potential price war between Atlantia and Hochtief.
Nick Ottens via Atlantic Sentinel | When Greece resisted demands for spending cuts from its creditors last year, Prime Minister Alexis Tsipras appealed to the president of the European Council, Donald Tusk, for talks with the other 27 heads of government. Theresa May clearly hasn’t learned Tsipras’ lesson.