The PSOE will register a bill in Congress to enable the General Council of the Judiciary – which was prevented by decree from making new appointments while it remains in office – to make only the appointments of the two judges of the Constitutional Court. The Government is determined to renew the Constitutional Court (TC). To this end, it is going to register a parliamentary initiative that will allow the…
Surprisingly, outside the agenda of the General Shareholders’ Meeting, the representative of Amber Capital – which controls Grupo Prisa (El País, la SER…) and announced a week ago it also controls 4.1% of Indra – has proposed the removal of 4 of the company’s remaining independent directors: Alberto Terol, Enrique Leiva, Carmen Aquerreta and Ana de Pro. A proposal that has had the support of 53% of the capital, including…
Ford’s Valencian plant in Almussafes has finally been chosen to develop the automaker’s two new electric vehicles, thus beating the German plant in Saarlouis with which it was competing. The news guarantees the maintenance of employment in the region in the coming years and ensures that the Valencian plant, which employs around 6,000 people after several redundancy plans, will maintain its workload from 2025. By 2024, the plant was expected…
Morgan Stanley | We have analysed the air traffic from the main European aiports (ADP, Aena, Fraport, Heathrow, Zurich) in May. In general, all of them have beaten our expectations. Specifically, Aena offers the best figures, with 22.2 million passengers, only -10% vs 2019 (and -7% vs 2019 in seat capacity). Looking ahead to the summer, we expect seat capacity to stabilise (-5%/-8% vs 2019), which could come under pressure…
Link Securities| Indra has signed a contract with Airways New Zealand, the country’s air navegation services’ provider, to modernise the airborne radar netwtork with state of the art technology, according to Europa Press on Tuesday. Separately, Indra said in a statement that this move will reinforce the security of the country’s air traffic, allowing for an increase in capacity as well as a reduction in emissions. As part of the agreement,…
The resignation of both comes in the midst of negotiating far-reaching reforms such as pension and self-employed quotas, as well as welcoming migrants due to the war in Ukraine. The two Secretaries of State that the Minister for Inclusion, Social Security and Migration, José Luís Escrivá – who, with an arrogance worthy of a better cause, disqualified a few weeks ago the Bank of Spain’s criticism of the Government’s proposed…
Link | The governor of the Central Bank of France and member of the ECB’s Governing Council, François Villeroy de Galhau, said in an interview yesterday that the tool being designed by the ECB to prevent fragmentation in the eurozone must send a message that there will be no limits. The more credibility it has, he said, the less it may have to be used. Villeroy defended the sale of…
Fernando González Urbaneja | If achieving power is difficult, losing it is bitter; few know how to lose. When Felipe González lost, he did so with the sweet feeling that it was a close call, thus mitigating a defeat that had been foretold; he knew how to lose, half-heartedly; and it did not take him long to realise that his time was up. On Sunday in Seville almost none of…
Renta 4 | S&P has maintained Sabadell’s long-term debt rating at BBB-, while improving the outlook to “positive” from “stable”. Valuation: Positive news. This improvement of the outlook opens the door to a possible improvement of the rating in a time period of 12-24 months if it increases the size of its buffer of subordinated instruments. And that it offers a clear vision on its Additional Loss-Absorbing Capacity (ALAC) cushion…
Juanma Moreno Bonilla, the leader of the PP in Andalusia, will be able to govern the autonomous community with a comfortable absolute majority (58 seats out of a total of 109) after winning 42% of the vote, more than one and a half million ballots, against a PSOE that won less than one million, 25% of the vote, and 30 seats, three fewer than in the previous legislature. Vox, the…