Top Stories

European economy

bbva sabadell

European economy 4th September 2024

BBVA gets go-ahead from UK regulators for indirect acquisition of TSB

Norbolsa | The British prudential regulator has authorised BBVA to take indirect control of TSB (Sabadell’s UK subsidiary). This authorisation is one of the conditions to which the takeover bid is subject, as it required 50.1% of Sabadell’s share capital, the approval of the National Markets and Competition Commission (CNMC), and finally this authorisation from the UK Prudential Regulation. On the other hand, yesterday, the Minister of Economy, Carlos Cuerpo,…

coche fabricas

European economy 4th September 2024

Spain’s manufacturing PMI slows to 50.5 in August from 51 in July, Eurozone’s stagnates at 45.8

CdM | The expansion of Spanish factory activity moderated in August to seven-month lows, according to the Purchasing Managers’ Index (PMI), which stood at 50.5 points from 51 points the previous month, reports Europa Press. Operating conditions in the Spanish manufacturing economy, in general, continued to improve in August, although the latest data showed divergent trends in several key areas. Thus, although new orders increased, production fell slightly, employment declined…

tsb takeover

European economy 2nd September 2024

Banco Sabadell moves ahead with restructuring plan for UK subsidiary and makes 250 redundancies

Alphavalue/ Divacons | The bank chaired by Josep Oliu has carried out the 250 redundancies included in its restructuring plan in the first half of 2024. According to its latest financial report, TSB had a workforce of 4,990 employees at the end of June, 436 fewer than at the end of 2023. It was on 8 May, a week after BBVA announced its interest in taking over Sabadell, when TSB…

Solaris CAF

European economy 2nd September 2024

CAF hydrogen bus subsidiary Solaris consolidates position in Europe with three new orders in Germany, Czechia and France worth €30 million

Link Securities | CAF subsidiary Solaris has announced three hydrogen bus deals for cities in Germany, the Czech Republic and France, with the overall volume awarded exceeding €30 million, Bolsamania.com reported yesterday. In this way, the company continues to consolidate its leadership in the European market as the largest manufacturer of hydrogen buses. In Germany, the operator REVG Kerpen has chosen CAF to supply a total of 26 Solaris Urbino…

telefonica telxius

European economy 2nd September 2024

Cellnex buys six new NOS telecom tower sites in Portugal, bringing total to 6,400

Norbolsa | The company has strengthened its presence in Portugal by acquiring six new telecommunications tower sites from NOS, extending its partnership initiated in 2020. Through its subsidiary On Tower Portugal, Cellnex already manages some 6,400 sites across the country. The transaction is pending approval by the Portuguese Competition Authority. Under the agreement, Cellnex and NOS have signed an initial 15-year contract, extendable to successive additional 15-year periods, under which…

inflacion CM 1

European economy, In Europe, Relevant News Item 22nd August 2024

Eurozone inflation rebounds in July to 2.6%, core remains at 2.9% for third month in a row

CdM | The inflation rate in the euro area stood at 2.6% year-on-year in July, one tenth of a percentage point higher than the rise in prices observed in June. Moreover, as confirmed by the EU statistics office, Eurostat, in the EU as a whole the rate has risen to 2.8%, two tenths of a percentage point more than in June. The acceleration in price increases in the euro area…

coches venta

European economy, European politics, In Europe, Relevant News Item 22nd August 2024

EC lowers tariffs on Chinese car imports after concluding investigation

Link Securities | As part of the conclusions of the European investigation into China’s anti-competitive subsidies, the European Commission (EC) has revised tariffs on Chinese car imports downwards, after gaining a clearer picture of the support enjoyed by China’s car industry, according to Expansión newspaper on Tuesday. In this sense, the EC said yesterday that it considers that Chinese manufacturers enjoy an “unfair” advantage because of the subsidies they receive…

exportaciones comercio viajes 1

European economy, In Europe, Relevant News Item 20th August 2024

Eurozone trade surplus rises to €22.3 billion in June

Link Securities | According to Eurostat data, the Eurozone’s trade surplus rose to €22.3 billion in June, exceeding analysts’ consensus forecast of €13.3 billion and also surpassing the €18 billion surplus in the same month last year. Imports decreased by 8.6% year-on-year to €214 billion, mainly due to lower purchases of manufactured goods (-11.0%); transport equipment and machinery (-11.0%); mineral fuels, lubricants and related products (-9.1%); and chemicals (-6.8%). Meanwhile,…

eurozone

European economy, In Europe 16th August 2024

Eurozone maintains pace of expansion: GDP grows 0.3% in second quarter

CdM | The Eurozone maintained the pace of expansion in the second quarter, when gross domestic product (GDP) grew by 0.3% over the previous three months, according to the second reading of the data published by Eurostat, the statistical office of the European Union (EU), which coincides with the first estimate. Compared with the same quarter of the previous year, GDP increased by 0.6% in the euro area following growth…

alemania reichstang

European economy, In Europe 12th August 2024

Germany’s inflation rises to 2.3%: falling energy prices fail to offset higher services prices

CdM: Germany’s inflation rose by one tenth of a percentage point in July to 2.3%, Destatis, the Federal Statistical Office, has confirmed, blaming the rise on higher services prices. “The fall in energy prices is holding down inflation,” but “on the other hand, we continue to see above-average price increases in services,” said the agency’s president, Ruth Brand. Specifically, prices for services were 3.9% higher than in the same month…