Top Stories

In Spain

ryanair aviones

Spanish economy 3rd June 2024

Consumer Affairs fines Ryanair, Vueling, easyJet and Volotea €150 million for charging cabin baggage fees

The Ministry of Consumer Affairs has fined Ryanair (RYA-IE), Vueling (a member of the IAG holding company), EasyJet (EZJ-GB) and Volotea €150 million for charging for cabin baggage and forcing them to print tickets, among other things. Consumer Affairs, which opened a sanctioning procedure last August, prohibits in its resolution charging for hand luggage on board and for seat selection when travelling with dependents, sanctions the alleged lack of transparency…

Telefonica novisima

Spanish economy 1st June 2024

Telefónica beats MasOrange and Vodafone in rural 5G bid to receive €298 million in subsidies

Bankinter | Telefónica (TEF) has beaten MasOrange and Vodafone in the government’s rural 5G plan called UNICO Redes Activas. It gets €298 million in subsidies to deploy 5G networks at 4,123 sites until February 2026. MasOrange gets €143 million for 1,948 sites and Vodafone €66 million for 1,200 sites. The project will benefit more than 1.8 million inhabitants who will have access to 5G coverage. Grants for the programme come…

poor

Spanish economy 31st May 2024

Economic and Social Council says 25% of Spaniards at risk of poverty or social exclusion

The high percentage of the population at risk of poverty or social exclusion is a problem that Spain is unable to tackle. More than 25% of citizens are in this situation, i.e. one in four. The report on the socio-economic and employment situation of the country by the Economic and Social Council (CES), presented on Thursday, warned of this issue. After highlighting the good progress of the economy, its president,…

energy sector

Spanish economy 31st May 2024

Government considering letting “supertax” on energy companies disappear

Banc Sabadell: According to the press, the vice-president and minister for energy transition, Teresa Ribera, has expressed her willingness to let the 1.2% tax on energy sales disappear after Brussels’ request that the interventionist measures adopted during the energy crisis be abandoned. Initially, the government had considered using the general budget to include tax breaks linked to investment, but the decision to withdraw the draft public accounts left the extension…

precios inflacion tickets

Spanish economy 30th May 2024

Spain’s CPI rises 3/10 of a percentage point in May to 3.6% due to electricity, underlying up to 3%

CdM | The Consumer Price Index (CPI) rose by 0.3% in May compared to the previous month and raised its year-on-year rate by three tenths to 3.6%, thus registering its highest level since April 2023, according to data released on Thursday by the National Statistics Institute (INE). Annual CPI rate The agency explained that the rise in the CPI to 3.6% is due to the increase in electricity prices, following…

telefonica vivo

Spanish economy 30th May 2024

Telefónica Brasil negotiating to buy Brazilian operator Desktop

Telefónica Brasil, a subsidiary of TEF, confirmed on Wednesday that it is “in talks” to buy Brazilian operator Desktop, although at the moment there is no definitive decision or formalisation of a deal. The company has assured that it is constantly analysing market opportunities and investments aligned with its strategy and has committed to keep its shareholders duly informed of any move. For its part, Desktop has reiterated that at…

separatists leaders

In Spain 30th May 2024

Amnesty negotiated by Sánchez with prosecuted Catalan pro-independence supporters to obtain their votes and become president to be approved today

Today, the Congress of Deputies is expected to approve the amnesty that Pedro Sánchez had branded as “unconstitutional” but which he finally negotiated with Carles Puigdemont to obtain in exchange the seven votes of Junts that he needed to be able to go to the presidential investiture after losing the elections on 23 July 2023. It is very possible that any of the judges who are forced to apply it…

Rovi 300x154 1

Spanish economy 29th May 2024

Laboratorios Rovi could sell third-party manufacturing business for between €3.1 and €3.7 billion

Banco Sabadell: According to press reports, Laboratorios Rovi (ROVI) could obtain between €3,100 million and €3,700 million (73% capitalisation and EV of ROVI’s total; there is no data on what it represents in terms of the group’s EBITDA today) for its third-party manufacturing business (CDMO). The valuation would be based on the application of a multiple between 12x and 14x EV/EBITDA to the €261 million of EBITDA that the division…

Sanchez

In Spain 29th May 2024

PSOE supports PP bill to avoid losing another vote in Congress

The strict application of Pedro Sánchez’s “resistance manual” generates ridiculous situations such as the one experienced yesterday in the Congress of Deputies, when the PSOE parliamentary group – in view of its solitude in rejecting the PP’s proposal to tighten congressional control over the government’s foreign policy – chose to vote in favour of the proposal as well. Some of the government’s allies in the investiture, such as ERC, had…

Berkeley

Spanish economy 29th May 2024

Berkeley asks ICSID for arbitration in $1bn claim against Spain for not being able to exploit its uranium mine in Salamanca

Berkeley Energia, the company that is trying to move forward with a uranium extraction project in Salamanca, has filed a request for international arbitration against the Spanish government with the ICSID, which depends on the World Bank, in which it demands compensation of $1 billion (around €920 million at the current exchange rate) for blocking its plans. It could become the largest arbitration against Spain. According to Berkeley, the decisions…