Last year, Endesa explained in a report that “cases of electricity fraud linked to marijuana plantations have doubled in the last four years”. Endesa closed 2021 with 1,636 cases of fraud linked to marijuana plantations, twice as many as in 2018. In 2022 it registered 1,800 cases. The damage is immense because the average consumption of a plantation is equivalent to that of 80 homes. The last plantation dismantled by…
A study prepared with data from the Mercantile Register by Axesor’s economic research bureau indicates that in March this year a total of 11,946 mercantile companies were set up in Spain, compared to the 11,224 created in March the previous year. This represents a growth of 6.4% compared to the same month last year. Axesor points out that “the Spanish economy is resisting both inflationary pressures and the uncertainty generated…
In a Significant Event communicated to the CNMV, the Board of Directors of Cellnex (CLNX) informed that it has received the resignations of Mr Bertrand Boudewijn Kan and Mr Leonard Peter Shore, in their capacity as independent directors, citing “irreconcilable differences with the Board in relation to the management, governance and succession process of the Company”. In their announcement, Mr Bertrand Boudewijn Kan and Mr Leonard Peter Shore stated that…
Alphavalue / Divacons | Sareb has completed a decade since its creation. With the results known since 2022, the entity has already reduced the debt guaranteed by the State by €20,301 million, 40% of the total, so that at the end of 2022 the outstanding debt was €30,481 million. Since 2021, the State took control of the company through the FROB (Spanish Executive Resolution Authority), and its debt has had…
Iberdrola announced on Tuesday a major sale of natural gas assets in Mexico, putting an end to several years of tensions with the country’s government. As the company, headed by Ignacio Sánchez Galán, informed the CNMV late in the afternoon, the subsidiary Iberdrola México and the state fund Mexico Infrastructure Partners (MIP) have signed an agreement of intent whereby a trust headed and managed by MIP will acquire 8,539 MW…
CdM | The passenger car and SUV market is now in its third positive month this year, closing the first quarter with an increase of 44.5%, with a total of 237,563 units. As for the March market, a total of 99,524 units were registered, 66.1% more than in the same month of the previous year. This increase is mainly due to the improvement in both the logistics chain and vehicle…
CdM | Growth in Spain’s manufacturing sector accelerated in March for the second month in a row and reached its fastest pace of expansion since June 2022, with a reading of 51.3 points versus 50.7 in February, according to S&P Global Market Intelligence. A key element was growth in the order backlog, following a nine-month sequence of declines, although the same trend was not seen with respect to external demand,…
Banks granted around €30,206 million in credit and loans to Spanish families and companies last February, the lowest amount granted in a month since August 2021, which represents a year-on-year fall of 15.88% and breaks the upward trend it has been showing since the Covid pandemic. The fall coincides with the almost vertical rise in the Euribor and is explained in its entirety in mortgages, whose production has plummeted by…
Bankinter | Argentina has been ordered to pay between €8 and €18.2 billion for the expropriation of YPF in 2012, Repsol (REP) will not receive any money. Repsol was compensated years ago with €5,000 million in bonds from the Argentine government and will not receive any new compensation for the application of this sentence. The compensation will be received by the law firm and funds that have financed the lawsuit,…
The second vice-president of the Government, Yolanda Díaz has finally formalised the announcement of her candidacy for the presidency of the Government. Yesterday, Sunday, the presentation of her new ultra-left political platform, under the name Sumar, took place. The choice of the party’s name, which means ‘add up’ or ‘sum’ in Spanish, could not have been more appropriate, bearing in mind that no fewer than fifteen political forces will be…