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.
Last week the Spanish government announced an offer of nearly 20,000 jobs in the public sector. The offer consists of: 10,318 free entrance posts in the General State Administration and the Justice Administration, as well as a further 5,350 internal promotion posts. There is also a one-time offer of public sector employment involving 4,285 newly created jobs in priority sectors where there is a “deficit” like the Inland Revenue Office, Social Security, Work Inspection and National Identity Document and National Traffic offices.
Japan’s Prime Minister Shinzo Abe signed on Thursday a political agreement on the EU-Japan trade deal, which would be likely completed within months,expectedly by January. Officials said it was not clear at this stage how the EU-Japan deal would be ratified in Europe. Full national ratification gives every national parliament and some regional ones a veto.
The homeownership rate among young adults in the United States has plunged to a record low, helping to explain the slow recovery in single family homebuilding. In order to understand the future of the housing stock, it helps to tell that there are currently 75 million individuals considered to be Millennials in the US with an average age of 27.5. Acording to BoAML, “in theory, this should underpin growth in homeownership. But, it is complicated – we have to understand the ability of Millennials to afford housing and the desire to become homeowners vs. renters.”
Íñigo Recio (GVC Gaesco) | The acquistion of the Italian company Ilva is a strategic operation for ArcelorMittal for the following reasons: 1)it did not have any industrial presence in Italy; 2)the deal means it can cope with steel imports in the Italian market – one of the principal access ports to Europe from non-community steel producing countries (mainly Asia) – and 3) it allows for greater steel prices discipline in Europe.