Ecofin agreed last week on a set of actions to be undertaken between now and end-2018 to reduce EU banks’ amounting €921 billion in September 2016 (almost 9% of the euro area’s GDP. At last the EU finance ministers acknowledged that possible “negative cross-border spillovers” from high NPL ratios in some member states require a common EU strategy to address the problem.
Investments in the global energy sector during 2016 totalled 1.7 billion dollars (1.5 billion euros), equivalent to 2.2% of global GDP, but also representing a 12% decline compared with a year earlier. This is the second consecutive annual drop
After the military welcome that Macron offered Trump last week on the Champs Elysees, it seems appropiate to examine closely French new government resolutions in terms of military spending, and more specifically their plans for one of France defense crown jewel Thales.
Fernando Rodríguez |Javier Cremades is chairman of The Spanish Association for Minority Shareholders of Listed Companies (AEMEC). The association probably represents the most important group of former Popular shareholders on the map of litigants which seems to be being created. Cremades gives his view on this case and on other issues like the divided image foreign investors have of Spain.
Nick Ottens via Atlantic Sentinel | Donald Trump isn’t big on technology. “On another occasion, the president said, “I’m just not a believer in email.” By contrast, Trump has spoken at length about American coal and steel and his desire to revive the two industries.
Wolfango Piccoli via Macropolis | The collapse on 7 July of the latest UN-sponsored talks to resolve the Cyprus issue has increased the risk of a naval confrontation between Turkey and the Republic of Cyprus when Total of France and Eni of Italy begin exploratory drilling in Block 11 of the Cypriot exclusive economic zone (EEZ) this week.
“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.