Companies

Companies, Relevant News Item 26th May 2023

Iberdrola and IFC team up on renewable projects in emerging countries such as Poland, Morocco and Vietnam

Link Securities| The Spanish company and the International Finance Corporation, which belongs to the World Bank Group have announced their union to promote the energy transition in emerging countries, the financial portal bolsamania.com reported on Tuesday. Both institutions have launched an alliance to support clean energy and decarbonisation in different developing countries. The agreement is structured in three pillars, according to IBE: (i) First, IFC will provide IBE with a…

Companies, European economy, European politics, In Europe 25th May 2023

Irish Data Protection Commissioner imposes highest ever fine – €1.2bn – on Meta

Bankinter: The Irish Data Protection Commission imposes a €1.2 billion fine on the technology company for transferring European citizens’ data to the US in breach of EU legislation. Analysis team’s opinion: Bad news, but already expected. It is a significant amount. The largest fine imposed so far. It compares with the €746m the EU fined Amazon in 2021 and is about 4% of Meta’s estimated PBT for the whole of…

Companies, Spanish economy 25th May 2023

NH Hotels appoints Dillip Rajakarier, CEO of Minor, as new group chairman

Link Securities | The Board of Directors of NH Hotel Group (NHH) held on Thursday agreed to appoint Dillip Rajakarier, CEO of Minor, as the new chairman of the Spanish hotel group, according to elEconomista.es. In addition, NHH’s current CEO, Ramón Aragonés, will also take on the role of vice-chairman, the decision comes after the group’s three independent directors resigned on Tuesday 16 May to express their opposition to the…

Companies, Relevant News Item 23rd May 2023

Merlin sells two shopping centres to Hungarian fund Indotek for undisclosed sum

CdM| The Hungarian real estate fund Indotek Group has acquired two shopping centres, one located in Valencia and the other in Barcelona, from Merlin Properties Socimi, without disclosing the amount of the transaction. In a statement, the fund has detailed that, with this transaction, it seeks to consolidate its presence in the country and substantially increase the surface area of its commercial assets in the Iberian Peninsula, where it already…

Companies, European economy 23rd May 2023

E.ON could sell npower, one of UK’s largest electricity retailers for industrial users

Santander | E.ON is reportedly considering the sale of npower, one of the largest electricity traders serving industrial users in the United Kingdom. According to the article that reports this, Centrica and ScottishPower have announced in recent months their intention to exit from marketing to large corporate customers due to high price volatility and low margins. Assessment: E.ON acquired npower from innogy in 2019 and subsequently transferred npower’s residential and…

Companies, Relevant News Item 22nd May 2023

Aena registers 77.4 M passengers between January and April, 1.9% more than in same period of 2019

Link Securities| Aena’s network airports closed 4M2023 with a total of 77.4 million passengers, 32.7% more than in the same period last year and 1.9% more than in 4M2019. A total of 695,549 aircraft movements were recorded between January and April (1.5% more than in 2019) and 336,909 tonnes of cargo were transported, which is 0.1% more than in the same period of 2019. In the month of April 2023,…

Companies, World economy 19th May 2023

Tesla to consider advertising its products, demand problems?

Bankinter: Good performance on Wednesday after the messages launched at the Shareholders’ Meeting. The highlights are: (i) Musk stated that he will remain at the helm of Tesla, dismissing rumours of his possible retirement now that he is also in charge of Twitter. (ii) Deliveries of the Cybertruck will begin this year. (iii) Tesla is working on the development of two new models. (iv) It will consider starting to announce…

Companies, European economy 19th May 2023

Shell to sell low-return businesses, including floating wind power firm Eolfi

Singular Bank| The Dutch energy company wants to sell its French floating wind business, Eolfi, acquired in 2019 to increase its weight in renewable energy in line with its strategy. However, it now wants to offer a higher return to shareholders. This is part of the strategy of the new CEO, Wael Sawan, to be announced in June, where he intends to eliminate activities that do not produce adequate returns….

Companies, Markets, World economy 18th May 2023

Zoom, the return of a company that is not the same as it was in 2019

Renta 4: The price reacts from levels of $60, historical lows of the stock during 2019, before emerging on the upside with the lockdowns of the pandemic. Although the stock is at the same levels as then, the company’s figures have nothing to do with those of that time, for example it has more than $5 billion, 25% of its capitalisation, in cash, without debt. In the short term it…

Companies, European economy 18th May 2023

Repsol to develop 1.7 GW of renewables in Italy with an estimated investment of €500 million

Renta 4 | Repsol to develop 1.7 GW of renewable energy projects in Italy. The project will have 943 MW of generation using wind technology and 825 MW of solar. The total cost is estimated at €500 million. Assessment: Positive impact. Repsol will develop 1.7 Gw of renewable energy in Italy with an estimated investment of €500 million. The portfolio is expected to be operational in 2025. Repsol is thus…

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