According to the monitoring of insolvency proceedings published in the Official State Gazette (BOE) carried out by Iberinform, the business fabric registered a year-on-year decrease of -3.5% in business insolvencies in April. For the year as a whole, they accumulate an increase of 12% compared to the same period in 2024. A creditors’ contest is a judicial procedure designed to manage and administer the assets of a company that cannot…
Bankinter | The final CPI for April confirms 2.2% year-on-year, one tenth below the previous month. The underlying rate confirms the rise to 2.4% year-on-year from 2.0% previously. In month-on-month terms, the general rate rose 0.6% (versus 0.1% previously) and the underlying rate rose 1.0% (versus 0.4% previously). Analysis team opinion: Moderate fuel and electricity prices contributed to the moderation of the overall CPI in April. However, the core rate…
Intermoney | Ferrovial (Hold, PO 39) announced its results for March 25 yesterday after the close of the New York market, holding a conference call today at 3 p.m. The main figures from the results, together with our estimates, are shown in the attached table. Overall, EBITDA rose by 22% to €309 million in Q1 2025, compared to Intermoney’s estimate of 24%, confirming the improvements in margins in construction, combined…
The final version of the economic report accompanying the draft Law for the reduction of the maximum legal working hours to 37.5 hours per week acknowledges that the measure will increase the costs borne by companies by up to 7%. In black and white, the document prepared by the Ministry of Labour – which the newspaper El Mundo has accessed – not only admits the increase in the wage bill…
Link Securities | Naturgy (NTGY) agreed on Monday to issue two series of senior unsecured fixed-rate bonds maturing in 6 and 10 years, respectively, under its €12 billion Euro Medium Term Note Programme. The 6-year bond, maturing on 21 May 2031, has a fixed annual coupon of 3.375% and a principal amount of €500 million. The 10-year bond, maturing on 21 May 2035, has a fixed annual coupon of 3.875%…
While the government approves a reduction of the working week from 40 to 37.5 hours by decree, the absenteeism rate in Spain has not stopped increasing since the end of the pandemic. It rose to 7.4% in the fourth quarter of 2024, which is two tenths of a percentage point higher than in the same period of the previous year, while absenteeism due to Temporary Disability (IT) has already reached…
Spain has filed an appeal with the US Supreme Court claiming sovereign immunity to avoid paying three arbitration awards totaling €358 million in favor of NextEra, 9Ren, and Blasket, stemming from the cuts in subsidies for renewable energy projects between 2010 and 2013. In the document, dated May 1st and accessed by the newspaper Expansión, Spain requests that the court annul the judgment issued in August 2024 by the Court…
Banco Sabadell | According to press reports, Iberdrola will halve its investment in renewable energy next year, from around €8 billion to €4/€5 billion per year. Iberdrola has decided to continue rebalancing its investment effort towards networks and reduce its investment in renewables, where it will invest selectively. Thus, between 2024 and 2026, the investment forecast for networks amounts to €21.5 billion. Of the €15.5 billion it will invest in…
The president of the Family Business Institute – and of the Estrella Galicia brewery – Ignacio Rivera, is calling for a state pact on energy on the same day that Pedro Sánchez and Alberto Núñez Feijóo clash again in Congress. “We represent 90% of the business fabric in this country, generate 70% of private employment, and contribute 70% of GDP… and we are worried,” he asserts. “We are not doing…
According to data from the Ministry of Labour and Social Security, the number of unemployed individuals decreased by 67,420 people in April (down 2.6%), to 2,512,718 people. This was a result of hiring in the services sector, which accounted for nearly three-quarters of the decrease in unemployment, a sector particularly active due to the celebration of Easter Week in April. The decrease in unemployment was greater than in the same…