Fernando González Urbaneja | Vice-president Calviño, who goes her own way, different and distant in the cabinet, congratulates herself on the growth in employment over the year. And she uses the data to devalue the INE’s estimates on the evolution of GDP during the first half of the year. The first problem we see has to do with the data: both the employment and GDP figures are very much conditioned…
The Spanish government sent a letter last week to the European Commission, in which it urged the region to adopt a common response to the electricity problem at the European level. The letter called for a reform of the wholesale electricity market and the creation of a European gas purchasing platform and strategic reserves. However, the institution dismissed Spain’s request. It will limit itself to guiding member states on measures to temporarily reduce the electricity bill within the margins of EU regulations.
According to a report by Javier Romera in the newspaper El Economista, the Murcian wine company is going to request the appearance of John Waldron, President and Chief Operating Officer of the group worldwide, David Salomon, CEO worldwide, Alvaro del Castaño, General Manager in Spain, and Jaime Suarez, Executive Director of Corporate Derivatives, before the Court of Instruction number 2 of Jumilla (Murcia). They are to testify about the execution…
According to National Institute of Statistics, Spanish GDP registered a rise of 1.1% in the second quarter of 2021 with respect to the previous quarter in volume terms. This rate is 1.7 points higher than that recorded in the first quarter and 1.7 points lower than that reported on 30 July. The year-on-year change in GDP stands at 17.5%, compared with -4.2% in the previous quarter. This rate is 2.3 points lower than that recorded on 30 July.
Fernando Rodríguez | Of the 125 Spanish listed companies which submitted the Annual Corporate Governance Report (IAGC) for the 2020 financial year, 29.6% have in their shareholding an individual, natural or legal person, who holds the majority of voting rights. This person “exercised or could exercise control,” according to the ad hoc report published by the Spanish National Securities Market Commission (CNMV). The report flags that amongst 64% of the…
J.P. Marín-Arrese | The Opposition accuses the Spanish PM of clinging to power regardless of the ways and means for achieving that goal. He indeed broke his electoral promise of never coming to terms with extreme-left Podemos. Before the polls, he told voters he wouldn’t sleep in peace sharing his bed with that party’s leader. After Election Day, he rushed to set up a coalition government with him, making his…
José Alves (Capital Madrid) | France is experiencing a historic moment in its rail industry: the beginning of the end of the national public service monopoly for passenger transport. Since the nationalisation of the network (1937) this has been in the hands of the state-owned SNCF. The government had announced this, as required by the EU, but it will be another three and a half years before the decision taken…
According to the consultancy firm Knight Frank, which in its Global House Price Index has analysed the evolution of prices in 55 countries from 1Q20 to last spring 2021, in the USA, New Zealand, Canada, Australia, Luxembourg and Sweden housing has risen by more than +15%, above the average (+9.2%). Turkey leads the ranking with an increase of +29%. Spain is the market with the biggest fall in the global ranking, with a decrease of 0.9%. India is the other lagging country in the list, with a 0.5% decline.
Grifols and Tiancheng Pharma, the main shareholder of Germany’s Biotest, have agreed that Grifols will buy Biotest with the aim of increasing its plasma collection capacity. Tiancheng Pharma owns 89.9% of Biotest’s ordinary shares and 1.1% of the preferred shares. The consideration of €1.6 Bn for the 100% of Biotest will be paid in cash and represents a premium of 23%.
J.C. González Vázquez * | On August 3rd, the Council of Ministers finally approved the long-awaited Bill for the adaptation of our insolvency legislation to EU Directive 2019/1023 regarding preventive restructuring frameworks, discharge of debt and disqualifications. In addition, measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt. Great hopes had been placed on it because it was thought that it would help to save…