Fernando González Urbaneja | The PP’s current crisis, with an uncertain outcome as yet, as there is still much to be done, is a good case study of the role of the media in the evolution of politics and events. The basic function of journalism is to inform with a diligent search for the truth. Reporting after verifying sources and protagonists with transparency, admitting some exceptions, but not many. Sources…
With the latest official data published by the National Institute of Statistics on the employment of people with disabilities in Spain, the Randstad Foundation has calculated that in 2020 there were in the country 1.93 million people with disabilities of working age (16 to 64 years), reaching 6.3% of the total population in that age group. This figure is the highest since 2014 and has had a growth of more…
Renta 4 | The official period for JP Morgan to receive non-binding offers for up to 25% of the capital finished on February 7, after a book was drawn up where the perimeter of the renewable subsidiary’s assets were finalised. Two combined cycle plants with some 1.600 MW have been excluded. Repsol (REP) has 700 MW in operation in hydroelectric plants, which it inherited from Viesgo, after it bought a…
Fernando González Urbaneja | There are few doubts about the quality of democracy, which can clearly be improved and which is moving backwards like a crab. It is not irrelevant that in The Economist’s ranking of democracies, Spain’s is slipping backwards and dropping down the rankings. The reasons for this backwardness are to be found in the open crisis in the government of judges, which puts their independence at risk;…
J.P. Marín-Arrese | The centre-right party leader, Mr Casado, has been at odds for months with the president of the Madrid region, Ms Díaz Ayuso. He has not provided any convincing reasons for refusing her bid to head the PP in the Madrid region. Now, we know he feared a corruption scandal might spark off as the regional government, which she heads, granted a public procurement to a family friend…
Renta 4 | Ferrovial, along with its partner Carlyle, could invest 1 billion dollars (approximately 880 million euros and accounting for 7% of the group’s construction portfolio) to build the new terminal at New York’s JFK airport. The concession period would last until 2060 and Ferrovial-Carlyle would hold 51%, according to the news. Valuation: Positive news, both at the quantative level (the size of the project) and the qualitative level (the…
The latent tension in the Partido Popular (PP) in recent months between the party’s national leadership and the president of the Community of Madrid exploded out of control yesterday. On Wednesday night two national media – El Mundo and El Confidencial – published that the party had spied on Ayuso. The alleged spying was allegedly intended to produce a dossier with evidence of the alleged corruption that has been touching…
Fernando González Urbaneja | It is a speculative but interesting question to take the political temperature of these liquid times. The Sánchez method in the face of government alliances is none other than to do what the mathematics indicate… apart from a German-style grand coalition. Sánchez made a pact with Unidos Podemos, with the addition of ERC, Bildu and others, contrary to all his repeated and emphatic statements of the…
Link | Repsol today presented its results for the 2021 financial year, of which we highlight the following aspects: -Revenues reached EUR 52.13 billion, an improvement of 49.1% year-on-year, and slightly higher (+1.2%) than the FactSet consensus estimate. – EBITDA in CCS terms (at replacement cost) reached EUR 7.071 billion (+73.1% y-o-y; +6.8% consensus). -Adjusted net profit, which measures the performance of the businesses, reached EUR 2.454 billion in 2021,…
Renta 4 | ACS could sell its renewables subsidiary Zero-e after the Easter break. This is a firm with 2.900 MW in operation and development. The value of the deal, according to the press, could be around 1 billion euros. And the transaction could mean ACS will give up control of the company. Valuation: There are no details on the assets which are currently under manangement or on the portfolio…