In Spain

Acerinox cool

Acerinox to invest €67m in high-performance alloys division, VDM Metals, and generate 15% more revenue

Renta 4 | The company has informed the National Securities Market Commission (CNMV) of investments in its high performance alloys division (VDM), as well as the presentation of its new excellence plan. Investments in VDM: Acerinox has announced an investment of €67 million, including an atomiser for the production of stainless steel powders and high-performance alloys for additive manufacturing. At the same time, three remelting furnaces will be extended, and…


precios inflacion tickets

Final CPI in Spain confirms 3.1% in December 2023 and core CPI 3.8%; gap between the two decreases +0.7 pp from previous +1.3

Bankinter : Final CPI December 2023 confirms +3.1% year-on-year (from +3.2% year-on-year previous and expected). Underlying CPI also confirms +3.8% year-on-year (from 4.5% year-on-year before). In month-on-month terms, 0.0% month-on-month (from -0.3% month-on-month in November) and in the Underlying +0.2% month-on-month (from +0.1% month-on-month in November). Assessment: No surprises, preliminary data are confirmed. This is fully in line with our estimates in Strategy 2024 (year-end +3.1% year-on-year and annual average…


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Spain is doing well, is it?

J.P. Marín Arrese| Such is the slogan PM Pedro Sánchez trumpets time and again when confronted with any topic concerning the Spanish economy. Former VP Nadia Calviño used to provide a more reasoned approach than this self-complacent appraisal. Growth, while modest, ranks higher than other European countries, fuelling reasonable employment rates even in a sluggish environment. Prices, little by little, are coming under control. Excessive public deficit and indebtedness are…


bancos medina

National Court overturns fine imposed by CNMC on Santander, BBVA, Caixabank and Sabadell for price-fixing

Renta 4 : The National Court overturns the fine imposed by the CNMC (National Markets and Competition Commission) on Santander, BBVA, Caixabank and Sabadell for price-fixing. In 2018, the CNMC imposed a fine of €91 million on Santander, BBVA, Caixabank and Sabadell for violating market practices by agreeing on swap prices. At the time, the banks assumed payment of the fine and made the corresponding provisions for litigation. The distribution…


Sanchez

Sánchez suffers first parliamentary defeat in surreal session of Congress: “The government is making a fool of itself”, says opposition leader

Yesterday, Congress voted on three Decree Laws, to which the only thing to say was yes or no. The government saved two of them after agonising negotiations in which Junts, the party of the fugitive Puigdemont, obtained new and important concessions. These were: giving the Generalitat control of immigration; “shielding” the amnesty by annulling an article of a European directive that obliges the suspension of new laws that are questioned…


Puigdemont

Puigdemont demands Sánchez force 8,700 companies that left Catalonia due to pro-independence process to return

This was stated yesterday by Junts spokesman Josep Rius: “What we want is that these companies that have their majority activity in Catalonia have their headquarters in Catalonia,” he said, adding that “what we propose is to encourage the return of these companies, so that they can return with tax benefits, and those that do not do so but have greater activity in Catalonia should be penalised”. In exchange for…


ERTES extension

Labour ministry threatens employers with rise in minimum wage: “If they do not agree to a 4% rise, we will negotiate a higher one with the unions”

The meeting to agree on the increase in the Minimum Wage (SMI) ended yesterday after barely an hour and a half of meeting between the Government and the social partners without any progress and with a climate clouded by previous threats to employers by the Secretary of State for Labour and Social Economy, Joaquín Pérez Rey. “If we do not reach an agreement around the figure of 4%, if the…


sanchez elections

The legislature, a toothache for the PSOE

Fernando González Urbaneja | The legislature will be like a toothache for the Socialist Party, and the first tests of this will become apparent this week with the validation of the first decree-laws approved by the government, which require majority approval. Two of its allies, Podemos and Junts, have set preconditions for their approval, which is necessary for the government’s first decisions to come into force. Sánchez’s resistance manual, which…


Sacyr2

DWS Investment (Deutsche Bank) raises 3.3% of Sacyr’s share capital

CdM| DWS Investment, Deutsche Bank’s fund manager, has raised a 3.26% stake in the capital of Sacyr, thus becoming one of the significant shareholders of the construction and concessions company. According to the National Securities Market Commission (CNMV) records, and as reported by Europa Press, the German fund manager’s operation translates into 22.3 million shares, valued at current market prices of €71.5 million.


caixabank2

CaixaBank prepares website for sale of second-hand vehicles

Norbolsa | The bank will launch a digital platform for the sale of second-hand cars in the first half of 2024. In this regard, the company is finalising the creation of a digital platform for the sale of second-hand vehicles from a network of eight selected dealers that will cover the whole of Spain. This list of dealers will also be joined by Arval, a subsidiary of BNP Paribas that…