More than 3 million passengers used Heathrow airport in October, encouraged by the easing of UK travel restrictions prior to the Autumn half-term holiday. Spanish infrastructure group Ferrovial is the largest stakeholder in Heathrow, with 25 percent.
The number of companies with foreign parent companies in Spain amounts to 19,675, according to the study carried out by Informa D&B (a subsidiary company of Cesce), leader in the provision of Commercial, Financial, Sectorial and Marketing Information. This figure represents only 1.38% of the country’s business network as a whole, but they sell more than 215,000 million euros, 17% of the total turnover. In terms of the number of…
This week, awareness of climate change and its consequences hits harder than ever before thanks to COP26. While European countries have arguably started to take climate considerations into account in their budgets, there is still a long way to go. Here is an interesting analysis by the rating agency Scope on the costs and consequences of climate change for countries, their economies and their sovereign ratings, including Spain.
Distributors from 13 different countries have launched the Ready4H2 initiative to support the development of a hydrogen market that will contribute to the transformation of the continent’s energy infrastructure and the fulfilment of the EU’s climate neutrality goals. The participating Spanish companies are: Nedgia (from the Naturgy group), Nortegas, Madrileña Red de Gas, Redex and Gas Extremadura.
The business climate in Germany’s automotive industry has worsened slightly. The ifo barometer for the industry fell to 8.5 points, down from 9.8 points in September. In July, the indicator had stood at 28.7 points. “Manufacturers and their suppliers have very different takes on the current situation,” says Oliver Falck, Director of the ifo Center for Industrial Organization and New Technologies. Business for manufacturers continues to be very good; the…
Allen Goves (MFS Investment Management) | Policy was left unchanged at today’s meeting, as widely expected, yet despite rising inflation. This is because of the ECB’s stress that the current rise in inflation is likely to be transitory. Growth is still considered strong but is moderating and risks are broadly balanced. This meeting was perhaps characterized by its emphasis on inflation drivers. Importantly, the ECB continues to stress that many…
The European Stability Mechanism (ESM) proposes raising the ceiling on public debt set by EU fiscal discipline rules from 60 to 100 per cent of GDP, and combining it with a rule limiting public spending to ensure fiscal sustainability, as reported by EFE. In a paper published in advance of the review of these rules, economists at the eurozone bailout fund argue that, in the current context, insisting on the…
Both the IFO German business climate indices for October and the Bundesbank’s latest monthly bulletin point to a stagnation of the German economy in Q4 2021. Germany’s business climate index, compiled by the IFO institute, declined in October to 97.7 points from 100.4 points in the previous month, and below the 98.0 points expected by analysts. After four consecutive months of decline, the index was at its lowest level in…
Iberdrola will invest £6 billion (7.1 billion euros) in the UK through its subsidiary Scottish Power to develop the East Anglia Hub offshore wind farm complex. Iberdrola’s chairman made the announcement at the Global Investment Summit organised by Boris Johnson to boost foreign investment. The British PM thanked “for the investment and commitment to the country. You are always welcome”. The East Anglia Hub will be one of the largest…
The first effects of the SPD victory are beginning to be felt: Bundesbank President Jens Weidmann will leave the institution at the end of the year “for personal reasons”. Weidmann represents Germany on the ECB council, where he is the longest-serving councillor. In a letter to German President Frank-Walter Steinmeier, Weidmann explained that he has come to the conclusion that “after more than 10 years – since May 2011 –…