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EEUU families

In the World 15th March 2025

Inflationary respite in US: February’s CPI moderates to 2.8% year-on-year against 3% previously, core rate to 3.1% versus 3.3%

Intermoney | Amidst the tariff ‘back-and-forth’, Wednesday’s US inflation data emerged and did not go unnoticed for showing a clear moderation of prices in each of its corresponding readings. Both the monthly and year-on-year CPI and the core CPI moderated compared to the previous month and were below expectations. The different figures were: monthly CPI (+0.2% vs. +0.3% Spain and +0.5% previous month), monthly core CPI (+0.2% vs. +0.3% Spain…

Aeropuerto JFK

In the World 14th March 2025

New JFK terminal -Ferrovial 51% stake- now more than 60% complete, according to planned schedule

Link Securities | Ferrovial’s biggest project currently under construction, the New Terminal 1 (NTO) at JFK airport in New York, is progressing according to schedule and budget, according to the company, as reported today in the newspaper Cinco Días. But as hard as the execution of the work, which is already more than 60% complete, is the commercial task of attracting airlines to an infrastructure intended for international traffic and…

Telefónica

World economy 13th March 2025

Telefónica sells Colombian subsidiary to Millicom for $400 million

Telefónica has agreed with Millicom to sell all the shares it holds in Colombia Telecomunicaciones, representing 67.5% of its share capital, for approximately $400 million, as reported by the company to the CNMV. This represents an equity value of more than seven times EBITDA and the deconsolidation of debt of nearly €1.2 billion. “This operation is part of the asset portfolio management policy of the Telefónica Group and is aligned…

The economic cold war between the US and China is here to stay

In the World 13th March 2025

China’s “Lianghui” points to leadership determination to rebuff Trump’s actions

Alicia García Herrero (Natixis) | China’s most important annual gathering, the so-called Lianghui(两会) will ended on March 11 after over a week of meetings by the legislative body, the National People’s Congress (NPC), but also the most important consultative body, the Chinese People’s Political Consultative Conference (CPPCC). One of the key objectives of these “Two Sessions”, as they are generally referred to in English, was to offer the key economic…

CAF

World economy 12th March 2025

CAF subsidiary Solaris wins first contract in Canada to supply Translink with 107 trolleybuses for €120 million

Link Securities | The Canadian transport operator TransLink, from the city of Vancouver, has awarded Solaris, a subsidiary of CAF, the contract for the supply of 107 trolleybuses for approximately €120 million, with the option of increasing the number of units contracted. At the end of last year, Solaris announced that it had been awarded its first contract in the USA, specifically for the supply of electric buses to the…

china yuanesCM

In the World 11th March 2025

China’s CPI continues to show economy’s weakness, falling back into negative territory

Bankinter | Price indicators continue to show the weakness of the Chinese economy. (i) CPI (February): down 0.7% year-on-year versus 0.4% expected versus up 0.5% previous. Core rate: down 0.1% year-on-year versus up 0.6% previous; (ii) Industrial Prices (February): down 2.2% year-on-year versus 2.1% expected versus 2.3% previous. Bankinter analysis team’ view: More negative news for the Chinese economy. Inflation has fallen back into negative territory (for the first time…

aceros

In the World 11th March 2025

US tariffs on aluminium and steel to come into force this Wednesday

BancaMarch | On Wednesday, tariffs on aluminium and steel will come into force, with Canada, Brazil, the EU and Mexico being the most affected regions. However, it should be noted that in March 2018, when tariffs were applied to these same goods – 25% on steel and 10% on aluminium – productive agreements were reached in some cases. More specifically, the tariffs imposed on Mexico and Canada were withdrawn a…

eeuu empleo 640x420 1 1

In the World 10th March 2025

US economy continues to generate employment: 151,000 new jobs in February

Link Securities | The Department of Labour reported that the US economy generated 151,000 net new non-agricultural jobs in February, up from the 125,000 jobs created in January (143,000, initial estimate), although somewhat below the 160,000 net jobs projected by FactSet consensus analysts. The December figure was revised upwards to 323,000 jobs from an initial estimate of 307,000 jobs. During the month, jobs were created in the healthcare sector (52,000…

FederalReserve

World economy 10th March 2025

Atlanta Fed forecasts US GDP to contract by 2.8% quarter-on-quarter in Q1 2025, compared to 2.3% growth expected two weeks ago

Last week, nearly all sectors of the S&P 500 weakened. The financial sector lost significant ground on the 4th (-4.67%), with stocks like Citi and Wells Fargo showing very poor performance. In the technology sector, the biggest setbacks were seen in Intel (-6.2%) and Tesla (-4.5%). President Donald Trump’s tariff policies can be seen as an act of ‘throwing stones on his own roof’ as they create uncertainty, which has…

repsol banderines

World economy 8th March 2025

As US withdraws Chevron’s licence to export crude from Venezuela, what will happen to Repsol’s strategic assets in Tomoporo and La Ceiba?

Banco Sabadell | According to press reports, the US has withdrawn Chevron’s licence to export crude oil from Venezuela, with the effective date of 3 April. This decision is in response to the failure of the Maduro government to fulfil its electoral commitments and is part of a package of extended sanctions that will also affect companies such as Halliburton, Schlumberger, Barker Hughes and Weatherford, which will have to suspend…