“A long period of deficient demand can discourage workers. It can also hold back investment: a new project may be profitable but if there is no demand it will not get financed,” says Simon Wren-Lewis. The point is that deficient demand was not due to “fiscal austerity”, but to “monetary austerity”.
The positive trend, which started in the last reporting quarter, should also be confirmed in the upcoming reporting season. However, it should be highlighted that the expected figures are below those from the previous quarter although Julius Baer’s analysts expect positive sales and earnings growth.
On Wednesday, Banco Santander completed a senior non-preferred debt issue for a total of 800 million Australian dollars (534 million euros). This is the first debt issue to be executed in Australian dollars by a Spanish bank.
Yoichi Funabashi and Harry Dempse via Caixin |Yoichi Funabashi and Harry Dempse via Caixin | Sino-Japanese relations have been stuck in a political quagmire for over six years. Tensions over the Senkaku/Diaoyu Islands have resurfaced time and time again since September 2010, when a Chinese fishing boat rammed two Japanese coast guard ships and its captain was arrested by the Japanese.
Five years after saying no to participating in the EU Banking Union, it seems Sweden is now studying the possibility of joining, motivated precisely by the possible benefits the UK’s departure from the EU could bring.
This week Spanish pharmaceutical firm Almirall issued a profit-warning, citing the negative impact of its US business. The stock price has dropped 30% in two days.
J.L. M. Campuzano (Spanish Banking Association) | The Spanish banks have made a big effort over the last few years to provide solutions for more than a million households experiencing difficulties in meeting their mortgages repayments. We estimate that over 10% of current existing mortgages have been refinanced or restructured.
Tariq Al-Shammari | During Barack Obama’s second term in office, the US witnessed significant changes in its National Security Strategy. As per this policy, Washington and London agreed to increase the military and security role of Britain in the Gulf, while America had the opportunity to consolidate its influence in the Asia Pacific. Many articles have been written on this issue by analysts at some of the world’s leading think tanks.
Iberdrola’s stock had a good performance this year despite the difficult conditions faced by the group in two of its main markets (the UK and Spain). The negative effect was mainly on the generation and supply side as earnings in this segment decreased by 32%: the UK’s earnings contracted by 75% and the Spanish by 19%. As pointed by Carax- Alphavalue “this was due to lower plant operations (load factor) with contracting margins added to low hydro production and higher transmission costs
Acciona has obtained one of the biggest rail contracts currently underway in Australia, namely the upgrade of a line to boost the service in Melbourne worth 518 million Australian dollars (around 350 million euros). It sees 100 billion euros of infrastructure development opportunities in Australia and New Zealand in the next 10 years.