Top Stories

In Spain

Sanchez

In Spain 23rd January 2025

Sánchez in the Labyrinth: Junts and PNV Reject Two of Three Laws that Government Brings to Congress

Junts (Puigdemont’s party) rejected yesterday in Congress the ‘omnibus’ decree that included the revaluation of pensions, the extension of transport discounts, and aid for those affected by the DANA. However, the measure also contained other types of initiatives that it would have been incomprehensible for the political right to support, such as the suspension of evictions during 2025, which facilitates squatting. The rejection highlights the parliamentary weakness of the Executive…

iberdrola galan davos 2022

Spanish economy 23rd January 2025

Iberdrola chairman says dividend can grow every year and electricity demand will continue to rise

Bankinter | In an interview at the Davos Forum, the company’s chairman Ignacio Galán said that “it is perfectly possible to grow and pay a higher dividend every year”. He considers the commitment to the dividend and the profitability of the 350,000 small investors who are Iberdrola shareholders to be a priority for the group. Galán anticipates that the demand for electricity will grow in the coming years as growth…

Sabadell

In Spain 22nd January 2025

Banco Sabadell to establish HQ in Catalonia once again

Amid the BBVA’s takeover bid for Banco Sabadell, the bank has decided to leave its current headquarters in Alicante—where it moved on October 5, 2017, at the beginning of the Catalan independence process—to return to Catalonia, to Sabadell. This decision is pending ratification by the Board of Directors. According to analysts, returning to Catalonia will allow Banco Sabadell to gather political and social support to hinder the ‘assault’ by the…

telefonica edificio

In Spain 22nd January 2025

Telefónica could take control of Indra technology subsidiary, Minsait, to create national telecoms and technology champion

Link Securities | The government, with the appointment of Marc Murtra as executive chairman of Telefónica, plans for the operator to take control of all or part of Indra’s technology subsidiary, Minsait, according to information from El Periodico reported by Bolsamania.com. With this major corporate move, the executive aims to create a national telecommunications and technology champion. At the same time, it would also enable Indra to gain weight in…

energia mercados

In Spain 21st January 2025

Energy sector: Congress to overturn extension of energy tax due to PNV’s vote against

According to press reports, the Congress will overturn this Wednesday the energy tax by the vote against it by the PNV, who would not have negotiated with the Treasury. Likewise, Junts would also be against the measure and Podemos considers that the PSOE would have failed to fulfil its commitments. Thus, the royal decree-law approved at the end of December that extended the tax burden to the sector which included…

exports gorgeous

Spanish economy 21st January 2025

Spanish exports fall 6.4% in November

Luis Alcaide | Spanish merchandise exports did not perform well last November, falling by 6.4% year-on-year in euros. This is compared to a decline of 4.1% in the eurozone, 2.7% in Italy, and 5.1% in France. Imports also recorded a decrease of 3.7% compared to November 2023. The export-import coverage rate stands at 86.4%, one of the lowest levels in the last decade for the month of November. The year-on-year…

TelefonicaMarcmurtra

In Spain 21st January 2025

Indra Board appoints Angel Escribano as executive chairman and board member following Marc Mutra’s departure to Telefónica

Intermoney | On Saturday afternoon, Telefónica (TEF) informed the National Securities Market Commission (CNMV) that it was dismissing its current chairman, Jose María Álvarez-Pallete, and appointing Marc Murtra (current chairman of Indra) as the new chairman. Indra (IDR) yesterday issued a statement announcing the resignation of its current chairman, and also announcing the appointment of Ángel Escribano as the new executive chairman. Escribano is co-founder and owner with his brother…

TelefonicaMarcmurtra

In Spain 20th January 2025

Government takes control of Telefónica

Last Saturday, in an extraordinary meeting, the board of directors of Telefónica accepted the resignation of Álvarez Pallete – agreed upon the day before at Moncloa – and the appointment of Marc Murtra, who was until then the president of Indra. Murtra had similarly ascended to the presidency of Indra after a government maneuver. Murtra, a man close to the PSC, finds himself with a company whose shares are trading…

CaixaBank nuevito

In Spain 18th January 2025

Caixabank issues €1 billion worth of perpetual convertible preference shares at 6.250% p.a. until 24 January 2033

Renta 4 | The entity has approved the issue of perpetual preference shares convertible into newly issued shares of CaixaBank (CoCos), excluding pre-emptive subscription rights, in the amount of €1,000 million. The issue will be carried out at par and the remuneration, the payment of which is discretionary and subject to certain conditions, has been set at 6.250% per annum until 24 January 2033. Thereafter, it will be reviewed every…

young spaniards

In Spain 17th January 2025

With average rent at €1,072 and young people earning €1,048 on average, only 14.8% manage to become independent

The first half of 2024 closed with a decrease in independence, dropping from 16.3% to 14.8% of young people – aged between 16 and 34 – residing in Spain over the course of a year. This means there are 62,458 fewer young people living outside their family home than a year ago. It is the lowest figure since data on independence has been available – since 2006 – despite an…