Top Stories

European economy

caf cartel fachada

European economy 25th June 2024

CAF to supply 88 buses to Swedish transport operator Nobina for €50 million

Intermoney: According to various media reports, Nobina, one of Sweden’s leading transport operators, has awarded CAF (Buy P.O. €42) the supply of 88 electric buses of various Urbino intercity and city models for the regions of Skåne, Värmland, and the city of Malmö. The total amount of this order will exceed €50 million. CAF continues to consolidate its position in Sweden, following several contracts won last year, including the supply…

BBVA Holvi

European economy 20th June 2024

BBVA to launch digital bank in Germany in 2025 after positive experience in Italy

Alphavalue / Divacons | BBVA will launch its digital bank in Germany in 2025. This was announced by the bank’s country manager in Spain, Peio Belausteguigoitia, during the Summer Courses of the Association of Economic Information Journalists (APIE), held at the Menéndez Pelayo International University (UIMP) in Santander. On the other hand, Belausteguigoitia ruled out the possibility of his institution going after another entity if the takeover bid it has…

inflacion precios

European economy 20th June 2024

Eurozone inflation rebounds to 2.6% in May and core rate rises to 2.9%

CdM | Eurozone inflation rose two tenths of a point in May to 2.6%, while the underlying rate, which excludes the impact of energy and food, also rose two tenths of a point to 2.9%, according to data published by Eurostat, the European Union (EU) statistics office. This means that the Consumer Price Index (CPI) recorded its first increase since December last year, reaching the highest level since last February….

Carrefour

European economy 19th June 2024

Carrefour could be hit with €200m fine after franchisees complain about obligation to source from group companies

Singular Bank: The French supermarket multinational fell 4.8% today after falling nearly 10%. The French finance minister has recommended that the company be fined €200m in the course of a lawsuit by its franchisees. The franchisees denounce practices such as forcing them to source their supplies from companies in the group, thus preventing them from having access to more competitive prices. The company has denied any irregular practices and hopes…

puerto valencia

European economy 18th June 2024

Eurozone achieves trade surplus of €15 billion with rest of world in April, compared to €11.1 billion deficit in April 2023

Link Securities | Eurostat published yesterday that, according to its first estimate of the data, the Eurozone goods trade balance reached a surplus of €15,000 million with the rest of the world in April, compared to a deficit of €11,100 million in April 2023. In April, exports of goods from the Eurozone to the rest of the world amounted to €247.6 billion, an increase of 14.0% year-on-year. For their part,…

coche electrico

European economy 14th June 2024

EC finalises new tariffs on Chinese EV imports: taxes set to rise from 10% to around 25%

Norbolsa | The European Commission (EC) is finalising new tariffs on Chinese EV imports, following a lengthy investigation into state subsidies. Taxes on these vehicles could rise from the current 10% to around 25%, according to EU sources, but the figures are still being fine-tuned and countries such as Germany are pushing to lower them because of their dependence on China. Berlin has accepted higher tariffs, but is trying to…

fcc edificio

European economy 12th June 2024

FCC completes £398m purchase of Urbaser’s UK subsidiary

Link Securities | The company communicated yesterday through a Significant Event sent to the National Securities Market Commission (CNMV) that the Environment area, through its subsidiary FCC Environment UK, Ltd., has completed the purchase from Urbaser of its subsidiary’s business in the United Kingdom, a transaction announced in December 2023. The estimated enterprise value of the transaction (including debt and equity) is £398 million (approximately €464 million). The transaction was…

Caixabank kio 2

European economy 11th June 2024

With world’s highest savings rate at 15%, European banks’ profits will hold up

Morgan Stanley | Our analyst A. S. reiterates the OW on European banks as, among other things, he believes that earnings are going to be more resilient than the market is discounting. The savings rate in Europe is at 15% (the highest in the world) and should be able to be monetised in a positive rate environment into deposits and asset management products, rather than the bond market. He estimates…

ESAs

European economy 10th June 2024

European banking, insurance and financial supervisors agree common position on ‘greenwashing’

emisores | The European banking (EBA), insurance (EIOPA) and finance (ESMA) regulators have published their respective Progress Reports on Greenwashing, in which they ‘present a high-level common position on greenwashing applicable to market participants in their respective competences’. The reports of the so-called ESAs – or European Supervisory Authorities – assume a coordinated definition of what greenwashing is, ‘a practice whereby sustainability-related communications, statements or actions do not clearly and…