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pensiones playita

In Spain 28th February 2024

Spending on pensions reaches record €12,668 million in February, 6.2% up on February 2023

Social Security allocated a record €12,668 million to the payment of the ordinary monthly payroll of contributory pensions in February, 6.2% more than in the same month in 2023, according to the Ministry of Inclusion, Social Security and Migration, which reported on Tuesday. Following the rise in pensions in line with the CPI applied since the beginning of the year, the average retirement pension increased by 4.8% year-on-year in February,…

iag aireuropa

Spanish economy 27th February 2024

EC foresees significant competition concerns in IAG’s purchase of Air Europa

Banc Sabadell: The European Commission (EC) would see significant competition problems in the purchase of Air Europa by IAG (IAG), much more than in 2019, when the operation was initially considered, due to the greater weight of the Spanish market since then. It should be recalled that the EC communicated at the end of January that it was initiating a detailed investigation (phase II) into the proposed acquisition of Air…

poor

In Spain 27th February 2024

Percentage of population at risk of poverty or social exclusion in Spain rises to 26.5%, according to INE

The percentage of the Spanish population at risk of poverty or exclusion rose half a point in the last year to 26.5%, while the population with “severe material and social deprivation” climbed to 9%, the highest rate since 2014 and 1.3 points higher than the previous year, according to the National Statistics Institute (INE). With this, severe poverty has shot up to its highest level in a decade, mainly due…

industrial production worker

Spanish economy 26th February 2024

Spain’s industrial prices rise in January to -3.8%: energy up, non-durable consumer goods down

CdM | The annual rate of the general Industrial Price Index (IPRI) was -3.8% in January, 2.5 points above that recorded in December of the previous year. By economic destination of the goods, among the industrial sectors that had a positive influence on the evolution of the annual rate of the general IPRI, the following stood out: Energy, with a rate of -12.6%, eight points above that of the previous…

MobileWorldCongress

Spanish economy 26th February 2024

The 18th Mobile World Congress begins today in Barcelona

The welcome dinner of the 18th Mobile World Congress (MWC) 2024, the world’s largest mobile technology fair, brought together Felipe VI, the President of the Government, Pedro Sánchez, and the President of the Generalitat, Pere Aragonés, who, as in previous editions, did not participate in the reception of the Monarch as a gesture of rejection of the Crown. The Mobile World Congress (MWC), the most important technology congress in the…

Ministerio Trabajo

In Spain 23rd February 2024

European justice urges Spain to make more than 800,000 temporary workers suffering from abusive contracts permanent

A new victory in Brussels for the thousands of temporary workers in the public sector – estimated at more than 800,000 – who for years have been chaining together temporary contracts without the possibility of becoming permanent, as is the case with temporary workers in the private sector. The High Court of Justice of the European Union (CJEU) has published a new ruling that calls for a change in the…

grifols edificio

Spanish economy 23rd February 2024

Grifols believes new attack by Gotham aimed solely at destabilising stock and creating doubts among investors

Link Securities | The company sent a Significant Event to the National Securities Market Commission (CNMV) in which it stated that it once again categorically refutes Gotham’s malicious, false and misleading insinuations which have the sole aim of destabilising Grifols and provoking doubts among institutional investors. Grifols stated that it has already answered each of their malicious and misleading questions. Grifols’ Board of Directors continues to reiterate its strong commitment…

Repsol Strategic Plan

Spanish economy 22nd February 2024

Repsol announces dividend hike (30% to €0.9/share) despite 25% drop in 2023 profit to €3.168 billion

The company increases the cash dividend by approximately 30% in 2024, to €0.9 per share (€1.095 billion in total) and commits to increasing it by 3% annually. With this, Repsol will distribute €4.6 billion in cash in the 2024-2027 period. This remuneration will be complemented with share buybacks of up to €5.4 billion, in the expected price environment, thus allocating up to €10 billion to remunerate shareholders over the next…

telefonica gran via logo nuevo

Spanish economy 22nd February 2024

Telefónica confirms dividend (€0.30/share) despite ending 2023 with losses (-€892m) due to restructuring in Spain and impairment in UK

Telefónica (TEF) closed 2023 with a loss of €892 million due to extraordinary items, including the provision for the restructuring plan in Telefónica Spain and an impairment of goodwill in Virgin Media O2 (VM02). The operator’s ordinary net profit in 2023, excluding provisions and extraordinary items, grew 17.1% to €2,369 million. Group revenues rose 1.6% last year to more than EUR €40,000 million (€40,652 million). Net financial debt increased mainly…

orange masmovil

Spanish economy 21st February 2024

EU approves Orange-MásMóvil merger after agreeing remedies with Digi

The deal, valued at €18.6 billion, will create the largest operator by number of customers in Spain, with more than 7.3 million broadband customers, more than 30 million mobile services and more than 2.2 million television customers. The conditional EU approval for the merger of Orange SA and Másmóvil Ibericom SA, Spanish mobile phone companies, has taken almost two years to receive approval from Brussels, and given the significant competition…