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Villarejo

Spanish economy 8th July 2021

Large Companies Infected By Villarejo

Fernando González Urbaneja | Over the last two decades, for very sound reasons, big companies around the world, including Spanish ones, have shown interest in improving their governance model, what is now called “governance”. There is an abundance of academic literature, recommendations from regulators, legal regulations in all areas and explicit commitments from managers and directors blessed by boards of directors and general meetings. It is clear that efforts and…

Repsol's bet on alternative energies

Spanish economy 7th July 2021

Bank Of Montreal Has A 3.4% Stake In Repsol

Bank of Montreal informed the CNMV on Monday that it holds a total of 3.467% of the voting rights of Repsol (REP). However, it does not specify whether this is in its own name or in the name of third parties, nor the average acquisition price. This stake would make it the fifth largest shareholder after Sacyr, with 8.2%, JP Morgan with 6.8%, BlackRock with 5% and Amundi with 4.5%….

Sanchez Biden

Spanish Politics 7th July 2021

Sánchez Tries To See Biden On His First Official Trip To The US

José Hervás (Capital Madrid) | The Spanish lobby in Washington still hopes the President of the United States will finally meet Pedro Sánchez. But for now, Joe Biden has no plans to meet the head of the Spanish Government at the White House on his first official trip to the United States, from the 20th to the 24th of this month. There will not even be a brief meeting in…

Amazon1

Spanish economy 7th July 2021

The 12,000 Spanish SMEs Selling On Amazon Exported €650 M In 2020, 30% More Yr-on-Yr

Amazon published yesterday the “Report on the impact of Amazon on Spanish SMEs 2021,” where it flags that the 12,000 Spanish small and medium-sized companies sellling on Amazon have registered more than 650 million euros in exports in 2020. This is an increase of more than 30% compared to the previous year. In addition, they have created more than 30,000 jobs in Spain and another 3,000 abroad. Despite the difficulties…

Ibex35 screen

Spanish economy 6th July 2021

IBEX 35 Companies Increase Treasury Shares By 38.7% In 2020

IBEX 35© companies increased their treasury shares by 38.7% last year, according to a report by BME’s Research Department. At the end of 2020, the total value of treasury shares held by companies in the index was 3.3 billion euros, which represents 0.63% of the IBEX 35©’s total capitalisation. This was largely due to the 27.2% decrease in the amount of own shares amortised: 4 billion, compared with 5.7 billion in 2019.

full employment

Spanish economy 5th July 2021

20 Million People Working In Spain: A Real Opportunity?

Social Security registers a record high of 19,500,277 people affiliated in June in Spain, In addition, there are still 447,800 people affected by temporary layoffs. Infojobs conjectures that the trend of job creation will consolidate in the medium term. With Social Security enrollment at an all-time high and the European funds still to arrive, is a real opportunity 20 million people working in Spain?

Caixabank

Spanish economy 2nd July 2021

Caixabank, Unions Reach An Agreement: There Will Be 6,452 Departures, 15% Of The Workforce

Caixabank (CABK) has finally reached an agreement with the unions to carry out an adjustment plan of 6,452 employees, equivalent to 15% of the workforce, after reducing the initial proposal by 1,839 people (22%). The departures are expected to take place between November this year and March 2022. And all of them will be voluntary. According to analysts, the associated impact on the profit and loss account is estimated at…

Just Sanchez

Spanish Politics 2nd July 2021

Sánchez’s Credibility

Congress made it clear on Tuesday that the President’s credibility is very low He has reduced the internal socialist opposition but his parliamentary and government allies, those who support him, have little appreciation for him. They support him out of necessity, to avoid worse evils and can leave him alone when it suits them. Without credibility, he will not get very far, not the day-to-day, beyond a minimal agreement on pensions that has the sole merit of pure agreement, the scenography in the Moncloa for show. Dialogue is an instrumental value, it serves to reach agreements and underpin credibility. And there is very little evidence of this.