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unemployment spain

Spanish economy 4th September 2023

Over 300,000 workers exit Social Security system on August 31

Bankinter : The number of unemployed increased in August by +24,826 persons (after -10,968 in July). It stands at 2.7M persons (-0.9% m/m and -7.6% YoY). The seasonally-adjusted number of registered registered persons increases to 20.7M (+0.1% m/m and +2.8% year-on-year). Ministry of Labour and Social Economy and Ministry of Social Inclusion and Migration. For the trade union USO, the figures are not good, because “On 31 August, more than…

boardofdirectors

Spanish economy 4th September 2023

Managing stagflation

Fernando González Urbaneja | Of recent statements by economic policymakers, I find the Federal Reserve Chairman’s statement at the Jackson Hole retreat revealing. Powell says that they are groping along. And yet the flight is reasonably on track and may land safely. Central bankers, who are as much a determinant of the economy as governments, work towards a goal of general equilibrium, a control of prices (the optimal goal) without…

Telefonica stand

Spanish economy 4th September 2023

Telefónica installs first commercial 5G node in 26 GHz band in Valencia

Link | The company has installed the first 5G node in the 26 gigahertz (GHz) band, the third portion of spectrum that has been reserved in Spain and Europe for the new technology, Expansión newspaper reports today. The node, located in Valencia, is an important milestone, as it is the first commercial node of the technology to be installed.

manufactoring Spain

Spanish economy 2nd September 2023

Spanish manufacturing PMI falls to lowest level of the year, 46.5 from 47.8 in previous month

CdM | Activity in the Spanish manufacturing sector deteriorated in August for the fifth consecutive month and has fallen to its lowest level so far this year, according to the PMI index, which has fallen to 46.5 points from 47.8 points in the previous month, according to the survey by S&P Global and Hamburg Commercial Bank, which has just been reported by Europa Press. The fall in the index in…

Santander. new

In Spain 2nd September 2023

Santander’s pioneering digitised core banking with proprietary software makes it world’s most innovative bank, according to The Banker

CdM | The Spanish bank has been named “world’s most innovative bank” by The Banker magazine. The publication has given the highest recognition of its awards for innovation in digital banking thanks to the successful implementation of Gravity, the digital platform developed by the entity and native in the cloud that is being implemented worldwide to help the bank become a fully digital company. The Banker described Gravity as a…

Montero

Spanish economy 1st September 2023

Treasury postpones new Tobin tax self-assessment model, which affects 52 Spanish companies

Banca March | The Ministry of Finance has postponed the new Tobin tax self-assessment model. Instead of coming into force on September 1, the proposed date is January 1, 2024. The tax in question refers to the tax on financial transactions that was introduced on January 16, 2021 and whose modifications are postponed until next year. The reason for the postponement is that the Community of Navarre and the Basque…

Zara Home

In Spain 1st September 2023

Inditex reopens flagship Zara Home in Madrid to focus on selling furniture to affluent customers

Alphavalue / Divacons | The Galician textile company is boosting its furniture sales with the reopening of its flagship Zara Home store in Madrid. It does not aim to compete with the large multinationals in this sector, which offer cheaper products, but rather to target a public with more purchasing power. The shop, located in Madrid’s Salamanca neighbourhood, has a space of more than 670 square metres distributed over two…

inflation rises

Spanish economy 31st August 2023

Euro area year-on-year inflation rate remains stable at 5.3% in August

CdM | The year-on-year inflation rate in the euro area remained stable in August at 5.3%, which is the lowest rise in prices since January 2022, according to Eurostat’s first estimate, as reported by Europa Press. These data place Spain and Belgium as the countries in the region with the lowest price increases, with 2.4% in both cases. The evolution of prices in the euro area in August was mainly…

sanchez feijoo

Spanish Politics 31st August 2023

Feijóo asks Sánchez to facilitate his investiture as president for a two-year legislature and six State Pacts

The leader of the PP, Alberto Núñez Feijóo, and the acting Prime Minister, Pedro Sánchez, have ended a long-awaited meeting after little more than an hour with no agreements to conclude. During the meeting, the candidate designated by Felipe VI handed Sánchez a document ‘For the equality and welfare of all Spaniards’, an eleven-point agreement in which he asks for support for his investiture in order to tackle six State…

Barça

In Spain 31st August 2023

Who owns FC Barcelona, the shareholders or the creditors?

Fernando González Urbaneja | For years now, professional football has been experiencing a rise in value fuelled by television rights and by new entrants to the sector (sovereign wealth funds and private equity) which are increasing the value of the spectacle to the point of a typical bubble, which will burst when there are no assets left to be fattened. Spain’s top clubs have gone from a situation of bankruptcy…