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In the World 7th March 2025

China sets growth target for 2025 at 5%, with budget deficit rising to 4% from 3% in 2024

Banca March | China sets growth target for 2025 at 5%, with budget deficit rising to 4% (from 3% in 2024). The The government document presented by Prime Minister Li Qiang to parliament sets the GDP target at 5% for the third consecutive year, a demanding goal that will require more aggressive stimulus measures. The focus is on strengthening consumption and counteracting deflationary pressures – the government has lowered its…

IAG

World economy 6th March 2025

IAG fears Trump’s trade war: 17% of 2024 income -€5,406 million- depended on US

Link Securities | The holding company IAG (IAG) fears that the trade war unleashed by US President Donald Trump since his arrival at the White House will affect its business with higher prices and less appetite for flying in general and, in particular, on routes to the United States, one of its main markets, according to Expansión. Last year, 17% of IAG’s income, or €5.406 billion, depended on the United…

Repsolito 1

World economy 4th March 2025

Repsol buys 40% of Unioil and strengthens presence in Philippines and rest of Southeast Asia

Renta 4 | Repsol has reached an agreement to acquire 40% of Unioil, a Philippine lubricant manufacturer. This acquisition will allow it to strengthen its presence in the Philippines and Southeast Asia and add a fifth manufacturing plant to those already existing in Spain, Mexico, Singapore and Indonesia. At the end of 2024, Unioil had a total production capacity of 25,000 tonnes. Assessment: Qualitatively positive news, which is in line…

EEUU consumidores conference board

In the World 3rd March 2025

January Private Consumption Deflator in US drops one tenth, underlying rate two

Banca March | The review of US GDP for Q4 reveals little new, confirming the slowdown in growth from the previous 3.1% to 2.3%, with private consumption continuing to be the driving force of the economy. As for inflation figures, the PCE gives some respite by coming in line with expectations and showing a lower contribution from the services item. When analysing the year-on-year rates, the general rate has dropped…

telefonica edificio

In the World 3rd March 2025

Milei threatens to block sale of Telefónica to Telecom to prevent creation of monopoly

Link Securities | The president of Argentina, Javier Milei, has threatened to block the sale of Telefónica (TEF) in the country to Telecom, considering that it would create a monopoly formed thanks to decades of state benefits, according to Bolsamania.com. Depending on the versions circulating about the potential acquisition of Telefónica by Telecom, of the Clarín Group, the National Communications Agency (ENACOM) and the National Commission for the Defence of…

Commodities Copper wire

In the World 28th February 2025

Trump initiates procedure for possible imposition of tariffs on copper

Banca March | On Wednesday, the US president signed an order instructing the Department of Commerce to carry out an investigation under Section 232. This same mechanism was used in 2017 to establish tariffs on steel and aluminium after a year-long analysis and, therefore, it could require a similar period in this case. Secretary of Commerce Howard Lutnick said the action will also look at products containing copper and stressed…

eeuu supermercado consumo 1

In the World 27th February 2025

Disappointment in US consumer confidence: down to 98.3 from 105.3 previously

Banca March | Consumer confidence in the United States disappoints. In January, the index produced by the Conference Board fell more than expected, dropping to 98.3 from 105.3 previously and well below the predicted 102.5. This decline in confidence was mainly explained by the deterioration of expectations, which fell by nearly 10 points to 72.9, reaching its lowest level since April last year. Thus, after closing 2024 with an increase…

microsoft feriaCM

In the World 26th February 2025

Microsoft reiterates plan to invest $80 billion in AI during this fiscal year

Bankinter | Microsoft reiterates its plan to invest $80 billion in AI during this fiscal year (which ends in June) although it ‘could accelerate or strategically adjust its infrastructure in some areas.’ Bankinter’s analysis team opinion: Microsoft’s comments came after two analyst reports suggesting that Microsoft had cancelled some data centre leases. According to Bloomberg, Monday’s report stated that spending was being replaced by other competitors such as Oracle. These…

EEUU

In the World 25th February 2025

US consumer confidence falls to 15-month low in climate marked by tariff fears and high interest rates

Bankinter | University of Michigan consumer confidence (final figure) fell more than expected in February, to a 15-month low of 64.7 points versus 67.8 expected versus 71.1 previous. The fall occurred in both components of the index, both Current Situation (65.7 versus 68.7 preliminary versus 74.0 previous) and Expectations (64.0 versus 67.3 preliminary versus 69.3 previous). Opinion of the Bankinter analysis team: The decline in confidence comes at a time…

Fed Septiembre 2023

In the World 23rd February 2025

Fed minutes show main risk is possible rise in inflation due to trade policies

Norbolsa | The policy proposals of the new Trump administration were causing inflationary concerns within the US monetary authority, as reflected in the minutes of its last meeting in January. In these, the attendees reflected the main risk of the scenario as the possibility of inflation picking up and not the concern that the labour market would lose strength, expressly citing the potential effects of trade and immigration policies, the…