In Spain

pandora papers

The Investigation Of Large Fortunes Would Amount To €38 Bn, Half Of The Non-Refundable European Funds

The experts of the Spanish Ministry of Finance (GESTHA in its english acronym) estimate that the investigation of large fortunes would raise half of the non-refundable European funds, after the International Consortium of Investigative Journalists (ICIJ) has uncovered the secret files of 14 law firms that reveal opaque societies of politicians, millionaires and artists from more than 90 countries. Specifically, GESTHA calls for the reinforcement of tax investigations into the most serious tax crimes and frauds in order to close the hole through which 38 billion euros – half of the non-refundable Next Generation EU Funds – are escaping due to the greater differential of the underground economy in Spain compared to the European average.


Temporary layoffs concentrate in activities mainly linked to trade and tourism

Spain’s Jobless Falls By 76,113 In September, A Record High For This Month, But How To Recover the 239,200 Still Furloughed?

With the drop in unemployment in September, the total number of job seekers reached 3,25 M at the end of the month. This figure would mean an unemployment rate of around 14.3%. Furthermore, temporary layoffs account for 239,200 workers, which means a decrease of 29,000 still included in these programmes compared to end-August. If we include this group added to self-employed with special benefits, unemployment stands at 3.7 M people, which means an implicit unemployment rate of around 16.3%.


Leroy Merlin's Logo

Leroy Merlin, The Foreign Multinational That Best Reports On Its Contribution In Spain

The Fundación Compromiso y Transparencia has published the annual report about the contribution and transparency of foreign multinationals in Spain, whose ranking is headed for the fourth consecutive year by the French distribution company Leroy Merlin, which is the only that meets all the transparency indicators required in the report. The telecommunications company Vodafone completes the small group of companies classified as transparent in a report that analyses the 35 leading foreign multinationals in Spain, in order to compare them with the IBEX 35 sample.


Acerinox

Nippon Steel Liquidates Its Stake In Acerinox

UBS has sold approximately 21.4 million ordinary shares of ACERINOX (ACX), informing the market that the final terms of the private placement have been set. The sale was carried out via an accelerated bookbuilt offering, aimed exclusively at qualified investors. The shares sold represent approximately 7.9% of Acerinox’s share capital, and the amount of the placement was EUR 225 million, with a sale price of 10.55 euros per share. On…


Acciona's sewage water treatment plant in Atatonilco (Mexico)

Acciona Is Not Only About Renewables: Wins €855 M Water Treatment Contract In Saudi Arabia

Acciona has been awarded the contract for the construction and operation over the next 25 years of three water treatment plants in Saudi Arabia. They will have a total capacity of 440,000 cubic metres per day and will serve a population of 2.1 million. This news is further proof that Acciona is not only made up of its listed renewable subsidiary, but also has profitable businesses within the Group.


telefonica vivo

Brazil Rewards Telefónica/Vivo And Large Operators In 5G Auction On 4 November

José Alves (Capital Madrid) | The big Brazilian operators – Telefónica’s Vivo, Telecom Italia’s Tim and América Móviles’ Claro – have plenty of reasons to celebrate the new deployment conditions Anatel, Brazil’s telecommunications regulator, has announced for the 5G auction on 4 November. It has not been easy due to the long and laborious preparation, which has required three and a half months of public consultation and eight months of…


ITP–Aero

Rolls-Royce Sells ITP Aero For 1.6 billion Euros To Bain, Which Has 10 Months To Find More Spanish Partners

US fund Bain has closed the purchase of 100% of ITP Aero, the aeronautical components manufacturer, for 1.6 billion euros, with SAPA from Guipuzcoa as an industrial partner. JB Capital has also joined the US investment fund and the Andoain-based company as a shareholder. The buyers are committed to maintaining employment – more than 4,000 workers – and the head office and financial headquarters in the Basque Country (in Zamudio,…


Banco Santander

Santander Announces A Cash Dividend Of 4.85 Euro Cents Per Share And A Share Buyback Equivalent To €841 Million

The board of Banco Santander announced today its decision to make an interim distribution from 2021 earnings through a cash dividend and share buyback amounting to a total value c.€1.7 billion -equivalent to 40% of underlying profit for the first half of 2021. The board’s decision has been taken in view of the lifting of the European Central Bank (ECB) recommendation that has limited shareholder remuneration until 30 September 2021…


intangibles

The Pandemic Raises The Value Of Intangible Assets Of Spanish Firms To 38%, Which Is 5% More Than In 2020

According to Brand Finance’s latest Global Intangible Finance Tracker report, the value of Spanish companies’ intangible assets is 38%, 5% higher than in 2020. Over the past 25 years, Spain has seen the value of intangible assets increase from US$43 million in 1996 to US$440 million in 2021, growing at an annual rate of around 10%. During this time, the share of reported intangible value of enterprise value increased from just 0.1% in 1996 to 8.6% in September 2021. On the other hand, the share of unreported intangible value has remained fairly stable, rising from around 24% in 1996 to 22% of enterprise value in 2021. the most intangible sectors are the energy sector followed by distribution and supermarkets (2nd) and engineering and construction (3rd).


Spain Catalonia

What Catalans Think

Fernando González Urbaneja | The latest poll published by La Vanguardia shows 39% of Catalans in favour of independence and 53% against. With these figures, it is understandable that ERC is opting for the slow road, to continue to stir up public opinion in order to achieve its goal, to reach its Ithaca. There was also a question on the language spoken at home: Spanish 41%; Catalan 29%; indistinct 30%. Everyone will draw their own conclusions, but the claim that Catalan society is unanimous or clearly in favour of the “indepes” proposals does not enjoy sufficient support. Conllevanza rather than coexistence.