ABC newspaper denounces that “La Moncloa has once again vetoed ABC: the Secretary of State for Communication, Francesc Vallès, has excluded this newspaper from the group of media accompanying the President of the Government, Pedro Sánchez, on the official trip to China that began this Thursday. Despite the fact that ABC applied for accreditation in due time and form, like other media that have been admitted, the Secretary of State…
Fernando González Urbaneja | Listening every day, every hour, to the statements of the ministers takes us to a happy world: everything is going well; everything is historic; impressive achievements. But with the coda that the PP and Feijóo are the worst, capable of ruining everything. So much propagandist mumbo-jumbo that embraces the strategy of information flooding, pounding and pounding. The latest instalment corresponds to the public deficit data for…
Morgan Stanley | Our analyst, Laura Metayer, believes that the Hospitality & Other solutions division is Amadeus’ fastest growing segment (AMS), which is made up of its centralised reservations product (CRS), leading a €1.8bn market, and the newer hotel management system (PMS) in a €2.2bn market. The analyst team estimates that the hospitality IT market, with a size of €7.4bn MSe and growth of >8% CAGR, is moving towards a…
Link Securities | In an interview with the Financial Times, reported by Expansión, Inditex (ITX) Chairman and CEO Marta Ortega outlined a continuity in management based on improving the shopping experience and the efficiency of the group’s operating model, while maintaining the focus on sustainability. Ortega said that the product is the lifeblood of the group and where she can offer the most value, while she is on top of…
The Consumer Price Index (CPI) rose by 0.4% in March compared to the previous month and cut its year-on-year rate by more than 2.5 points to 3.3%, its lowest value since August 2021, according to advanced data published on Thursday by the National Statistics Institute (INE).This moderation in the year-on-year growth rate of the CPI places inflation at its lowest level since August 2021, when a rate of 3.3% was…
Technically, for statistics in Spain to consider a person unemployed, he or she has to meet the administrative requirement of being registered with the SEPE (State Public Employment Service) and be in a position to immediately enter the labour market, which means that millions of unemployed people are lost in the statistics of job seekers. The official unemployment rate stands at 12.8%, which includes three million unemployed people, according to…
Link Securities | TCI, the British fund that has become Cellnex’s main shareholder with 9% of the company, is increasing pressure on Bertrand Kan, who on Monday was relieved of the presidency of the company, to leave the company’s Board of Directors immediately. The fund believes that Cellnex must urgently focus on electing a new CEO, and among the possible candidates, the newspaper Expansión highlights in today’s edition that Marco…
Spanish construction companies have set their sights on the biggest infrastructure project to be tendered this year in the Iberian Peninsula: the high-speed railway line that will connect Lisbon with Oporto. According to the newspaper El Economista, ACS, Ferrovial, Sacyr, FCC, OHLA and Acciona are outlining the consortiums to bid for the first tenders of the infrastructure, whose development has been structured in three phases to be completed in 2030…
Social Security paid out €11,945.6 million in contributory pensions in February, 3 billion more than the 8,946.9 million in March 2018, a few months before Pedro Sánchez came to government. The average monthly retirement pension shot up from the €1,260 it stood at in December 2022 to €1,372 per month, up 9.7%. And since there were no differences by amount bracket, the maximum pension exceeded €3,000 per month for the…
Fernando González Urbaneja | The mini Cabinet reshuffle is irrelevant: two ministers are leaving, two more are coming in, and none of them will leave their mark on the government. Traditionally we call any change of government a crisis, but this latest one has no more to it than the convenience of the Socialist Party to embellish, at least in appearance, its electoral offer. Two ministers are leaving to head…