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electricity prices

Spanish economy 20th December 2021

The Soaring Electricity Prices To Lower The Spanish GDP Growth In 2021 and 2022 by 0.1% And 0.3 %, Respectively

Oriol Carreras Baquer & Eduard LLorens i Jimeno (CaixaBank) | The price of electricity, something that would usually barely catch the reader’s attention, has populated the headlines and been a topic of dinner conversations since the middle of the year. This change is not a trivial one: the price of electricity soared beginning in July, and by October it had almost quadrupled the average for 2018-2019. What is the reason for this increase and what impact will it have on the economy? These are the questions that this article attempts to answer.

banco santander

Spanish economy 17th December 2021

UniversalPay claims €1 Bn from Santander as compensation for failing to reach accord on a breach of contract with Popular

Renta 4 |  UniversalPay, EVO Payments’ Spanish affiliate and former partner of Popular in paying services by credit card, is claiming 1 billion euros from Santander in compensation, after both parties failed to reach an agreement. UniversalPay lodged the claim (which was admitted to proceedings before the summer) against Santander for a breach of the terms in its contract with Popular referring to the exclusivity of the paying services by…

Indra Tecnocom

Spanish economy 16th December 2021

After The Government’s Assault, The March Family Sells Its Shares In Indra, Which Falls Sharply (-11.5%) On The Stock Market

Indra plunged 11.51% on Wednesday in the stock market to 9.34 euros, after Corporación Financiera Alba announced its gradual exit from the company after selling 5% of the capital to SAPA. Following the announcement, Indra recorded its biggest fall on the stock market since March 2020. The March holding company sold this stake to the defence group for just over 90 million euros and will leave the company’s board in…

IAG stil commited to accord with Globalia

Spanish economy 15th December 2021

Iberia, Air Europa Suspend Merger In exchange For €75 M And A Buy Option

Intermoney | Iberia (IAG) y Air Europa have found common ground to avoid the purchase of the Hidalgo family’s airline by International Airlines Group (IAG)’s Spanish affiliate being definitively derailed. The two firms are finalising an agreement to temporarily suspend the transaction in exchange for compensation of 75 million euros, given by the former to the latter. This move is aimed at avoiding the deal being blocked by the European Commission,…

inditex all

Spanish economy 15th December 2021

Inditex: Record Sales With 11% Fewer Shops

Inditex’s (ITX) net profit for the first nine months of its fiscal year (1 February 2021 to 31 October 2021) rose 273% to 2.5 billion euros. In the watertight third quarter, the textile company said sales, profit before tax and net profit reached an all-time high. During the third quarter of 2021, sales growth at constant exchange rates progressively accelerated to 21% compared to the third quarter of 2020 and…

aena airport

Spanish economy 15th December 2021

Traffic in Aena airports drops 27% in November 2021 vs 2019

Intermoney | Aena (Hold TP 135 euros/share) yesterday published the traffic figures for its airports, which in November once again showed a recovery with respect to pre-pandemic levels. Last month, traffic dropped 27%, compared to a 31% and 40% fall in October and September, respectively. On the other hand, for the year to date, the decline is 58%, with 107 million passengers. By airports, Madrid Barajas and El Prat clocked…

medidas sanitarias covid 19 oficinas ibercaja thumb

Spanish economy 15th December 2021

Ibercaja Banco, With A ROE Of 6.62%, Wants To Go Public

Ibercaja Banco (BB+ e, BB+ p) intends to list on the Spanish stock exchange early next year, according to Expansión newspaper. Ibercaja posted Q3’21 results which showed net profit for the quarter amounted to €72mn, up from €55mn in Q2’21 and €42mn a year earlier. This translated into a RoE of 6.62% in Q3’21, up from 6.46% in the previous quarter and 4.79% a year ago. The absolute number of…

ai person

Spanish economy 15th December 2021

The First Map Of AI In Spain Detects 209 Key Players In Business Digitisation

Iberinform | Who will drive the digitalisation of the Spanish economy? That is the question that the Map of Artificial Intelligence in Spain prepared by Iberinform, in collaboration with AI-Network and BigData Magazine, tries to answer. The result is a business and educational ecosystem made up of 209 key players that will have a multiplier effect on the digitisation of our business network. According to the results, 161 Spanish companies…

tasa google tasa tobin

Spanish economy 14th December 2021

Spain, France, Italy, the UK, Austria and Turkey will remove the Google tax and transfer tax policy to the new US and OECD-Led project

Up to six European countries have already announced that they will abandon the Digital Services Tax (DST) (known as the Google tax) after its failure to raise revenue. They have expressed their intention to eliminate this tax and transfer their tax policy to the new international project, led by the US, on which the Organisation for Economic Co-operation and Development (OECD) is already working. These countries will wait for the OECD’s new tax rules to be approved before eliminating their Google taxes.

IAG

Spanish economy 13th December 2021

Iberia Shelves Air Europa Takeover And Notifies Brussels

Iberia’s withdrawal of the memorandum of understanding in which the airline anticipated the conditions that could be imposed by the European Commission to approve the operation, makes it practically impossible to get the go-ahead from Brussels. As José Hervás explains today in Capital Madrid: “In the last two weeks there has been a 180-degree turn in the negotiations between the airline Iberia, the IAG group and the European Commission regarding…