Top Stories

In the World

Seul South Korea

World economy 7th November 2023

South Korea’s economy to accelerate in 2024 thanks to better exports, higher capital flows and easing of financial conditions

Trinh Nguyen (Natixis) | External headwinds may seem to be only getting stronger, but the worst is likely over for the Korean economy. For most of 2023, the peninsula was reeling from the lagged impact of 300bps rate hike, double digits decline of exports, and uncertainty from US-China geopolitical rivalries that have negatively impacted its key sectors such as semiconductor production. In response, policy makers have made a series of…

MUJERES CEO 768x442 1

In the World 6th November 2023

US companies experience biggest CEO drain in 20 years

F.R.| Through October of this year, some 1,425 CEOs have left their positions at US companies across all industries and statuses, 47% more than the same period last year and the highest number since 2002, according to the latest quarterly Challenger CEO Turnover Report from talent consultancy Challenger, Gray & Christmas. In the third quarter alone, there were 518 CEO departures – mostly from government organisations, NGOs or healthcare companies…

US jobs

In the World 6th November 2023

First signs of weakness in US labour market: unemployment up slightly to 3.9%

BancaMarch: First signs of weakness in the US labour market, known on Friday. On the one hand, the Non-Farm Employment Creation figure was below 200,000 jobs, and practically half of September’s figure (150,000 against 180,000 expected and against 297,000 of the previous month, revised downwards). In line with the lower job creation, we also saw unemployment rise by one tenth of a point to 3.9%, a rise that came in…

China IPC

World economy 6th November 2023

China’s October Caixin PMIs point to a near stagnant economy

Renta 4: Opening higher (Eurostoxx futures +0.6%, S&P futures 0%), picking up Wall Street’s gains after the close of European markets and awaiting the US employment data. In the background, China’s October Caixin PMIs, like the official ones, show a slowdown and point to an almost stagnant economy: services 50.4 ( versus 51 estimated and 50.2 previously) and composite 50 (versus 50.9 previously). At the corporate level, Apple’s results yesterday…

INVERSION ESG 768x320 1

In the World 3rd November 2023

Three out of four global listed companies already use ESG metrics for incentives

F.R.| 77.7% of listed companies in Europe and the US included ESG metrics in their 2022 annual reports on long-term incentive plans, 68% more than the previous year, according to the 2022 Global Report on ESG Metrics in Executive Incentive Plans prepared by Willis Towers Watson (WTW) based on an analysis of 1,073 such reports on both sides of the Atlantic. In the case of Europe, 90% of the sample…

fed powell nov 2023

World economy 2nd November 2023

Fed remains cautious and meets expectations, leaves rates at 5.25/5.50%

Bankinter| The US Federal Reserve (Fed) met expectations and left the benchmark interest rate unchanged at 5.25%/5.50%. Assessment: The Fed’s statement did not introduce any new developments and the decision met expectations by repeating rates once again. However, the key to the meeting was Powell’s message. In line with the previous meeting, the tone remained cautious. The Fed Chairman once again said that the central bank “will proceed carefully”, avoiding…

Iberia

In the World 2nd November 2023

IAG subsidiary Iberia to expand connections between Madrid and Latin America for next summer

Link Securities| Iberia, a member airline of IAG, announced its operations for next summer, with which it aims to expand its leadership in connections between Madrid and Latin America to strengthen its position as the main gateway between Europe and that region, the newspaper Expansión reported. Between April and October, the IAG subsidiary will operate 328 weekly flights to Latin America, with 3.1 million seats, 17.2% more than last year,…

OHLA

In the World 31st October 2023

OHLA wins two contracts in California worth around €180 million

Bankinter| OHLA has been awarded two new civil works contracts in California, United States, worth close to €180 million, according to Europa Press. Specifically, the first contract, awarded by the San Gabriel Valley Council of Governments for nearly €127 million, involves the construction of a bridge at the Union Pacific Railroad crossings at Montebello Boulevard and Olympic Boulevard, creating an underpass. The company said the project will significantly reduce traffic…

bank of japan

In the World 30th October 2023

Increasingly nervous BoJ due to overly weak Yen still not expected to move at October meeting

Alicia García Herrero | The Bank of Japan (BoJ) is in the spotlight once again. While the crisis in the Middle East deepens, higher oil prices have lifted the US 10-year Treasury yield beyond 5% although it has retrenched a little once again. At the same, the 10-year JGB yield is capped by the BoJ’s Yield Curve Control (YCC) at 1%. On the back of a further widening interest rate…

ArgentinaTC

In the World, World politics 23rd October 2023

Current economy minister Massa pulls off surprise win in first round of Argentina presidential election

Bankinter| Sergio Massa has sprung a surprise and won the first round of the presidential elections in Argentina. With 99% of the votes counted and a 78% turnout, the current Minister of Economy and candidate of the current coalition governing Argentina (Unión por la Patria) obtained 36.7% of the votes. Javier Milei (La Libertad Avanza), who until now had been leading the pre-election polls, obtained 30.0% of the votes. The…