BBVA has now published its Q4 results. According to Morgan Stanley “net profit of €1.58bn in the last quarter of 2022 beat consensus by 2.5%, with NII (Net Interest Income) 1.4% higher than expected, fees and commissions 2% lower and overall total revenues in line with expectations. Operating profit before provisions and costs were also in line. Good capital data, with CET1 16 bps quarter-on-quarter up (+30 bps vs. consensus)…
“Let’s talk in depth about what the two processes are that have led to the loss of purchasing power by the middle and working class in our country. The first process is that real wages have been falling for more than a decade”, the president explained yesterday in his debate with Nuñez Feijóo, leader of the opposition, adding that “big companies do not raise their employees’ wages by a single…
Norbolsa | Iberdrola has surpassed 7,500 employees at its US subsidiary Avangrid, while at the same time generating a total of 70,000 jobs in the country through its purchases and investments. As the electricity company explained in a statement, the United States is the main destination for its investments, with more than $21,500 million (€19,723 million) for the three-year period 2023-2025. Regulatory stability and the commitment of the different administrations…
According to the USO union, temporary employment in 2022 was slightly reduced compared to 2021, but that of the public sector continues to be higher than in 2020 and 2019. The latest Active Population Survey, at the end of 2022, reflects that the greater precariousness of employment occurs in the public sector, which doubles the rate of temporary employment in the private sector. Thus, temporary employees of all kinds in…
Banca March : This morning, the preliminary inflation figure for Spain was published, which came as a surprise in January, rising by one tenth of a point compared with the previous figure to +5.8% year-on-year, well above the +5% forecast. According to the INE, this evolution is mainly due to the fact that fuel prices rose more than in January 2022, and that the fall in clothing and footwear prices…
Victor Relaño (Capital Madrid) | Strategic Minerals is a company with US and Spanish capital that is in charge of the exploitation of the Penouta mine, located in the municipality of Viana do Bolo in the province of Orense. In June last year, the Xunta de Galicia granted permission for the extraction of 50 million tonnes of ore. The mining company will allocate €40 million for this initiative. Penouta is,…
Bankinter | Umbrella has completed the permitting, licensing and authorisation phase for its first project in the UK, which will consist of a solar photovoltaic plant with a capacity of 20 MW and lithium-ion battery support. The project is located on the outskirts of the city of Stirling, in Scotland. The construction and maintenance of the entire project will be carried out by the wholly-owned subsidiary IM2 Energía Solar. Umbrella…
On December 23, the National Institute of Statistics reviewed Spain’s 2022 GDP growth, having already reviewed it in September and October. After all the revisions, two points were added to the growth of the first semester and 0.6 to that of the third quarter. Now, the statistics give a preview of GDP in 4Q22, which would have grown by +0.2%, with which growth for the year as a whole would…
Data from the Labour Force Survey (EPA) for the fourth quarter of last year confirm that the Spanish economy’s potential for job creation has been deflated, with the slowest pace of job creation since 2013 and the smallest drop in unemployment since 2012. This puts the spotlight on the effect of the labour reform. It was a law designed to increase permanent contracts, but whose effects on employment and unemployment…
Some 98.43% of shareholders voted in favour of the motion to delist the company. For the company to be effectively delisted, approval from the Spanish Securities and Exchange Commission (CNMV) is still required.Christian Bruch, CEO of Siemens Energy and non-executive chairman of the Gamesa Board of Directors, said: “Our top priority is to solve Siemens Gamesa’s current challenges and to turn the business around. Jochen Eickholt and his team have…