White House National Security Advisor Jake Sullivan and Chinese Foreign Minister Wang Yi met this weekend in Malta. The aim is to pave the way for a meeting between Presidents Joe Biden and Xi Jinping expected to take place in November. The two governors may have the opportunity to meet at the Asia-Pacific Economic Cooperation Forum in San Francisco. The Chinese minister said the two sides had agreed to hold…
Link Securities| Avangrid, Iberdrola’s US subsidiary, expects to obtain almost $1.36 billion in additional revenues from the increase in its electricity and gas rates in New York, according to elEconomista.es today. The company’s new tariff plan, which covers the period 2023-2026, includes double-digit increases and is expected to come into effect next month. The extra revenue, regulated by the state of New York, will be spread over three fiscal years:…
BancaMarch : China is showing signs of stabilising. The battery of indicators published on Friday morning has been favourable, with a rebound in consumption and also in industrial production. In contrast, the real estate market continues to deteriorate. Starting with consumption, retail sales rebounded more than expected in August, growing at +4.6% year-on-year, above the previous 2.5% and exceeding the +3% forecast. Thus, for the first eight months of the…
Intermoney| The company, through its US subsidiary Turner, has been awarded the contract for the expansion of a hospital in the city of Rochester, located in the state of New York, according to Cinco Días newspaper. This initiative has a planned investment of €600 million. The ACS firm will undertake the hospital refurbishment works in consortium with Pike Construction Services; Ballinger is in charge of the design work and Hammes…
BancaMarch: The World Trade Organisation (WTO) forecasts a weakening of international merchandise trade. The World Trade Report 2023 reveals world trade volume growth of 2.7% in 2022 and the forecast for 2023 is 1.7%, below the average between 2010 and 2022. The slower increase this year is due to high inflation and rising interest rates undermining global GDP growth and reducing demand for goods from major economies. The report also…
Alphavalue / Divacons| The trial against Google began in the US on Tuesday, a legal battle that will last at least 10 weeks. The case is about whether Google is considered a monopoly in the online search business. This is the first antitrust case against Big Tech in the US in more than 20 years. In October 2020, the Department of Justice decided to take Google to court, in a…
Link Securities | Leighton Asia, a company of ACS’s Australian subsidiary Cimic Group, has won a contract with property developer Elan to build a luxury residential project in Gurgaon (India) for AU$190 million (around €114 million). The project, named The Presidential, consists of 728 flats and is Leighton Asia’s largest residential project to date. The initial phase of the project comprises civil and structural works, with a built-up area of…
Intermoney | The Spanish company (Mantener, PO€26), through its US subsidiary Webber, has won nine construction projects in the United States in recent weeks, specifically in Texas and Florida. The total budget amounts to €932 million. Among the new work in the pipeline is its first major civil engineering project in Florida. This project, Ferrovial’s first in Florida, with a budget of €75 million, consists of the reconstruction of one…
Alicia García Herrero (Natixis)| India’s GDP expanded 7.8% year-on-year in Q2 2023, beating expectations and printing the highest number in a year. The major push comes from consumption which contributed nearly half of the growth. The strong demand is also fostering industrial production as India’s manufacturing PMI has expanded for 25 straight months and further risen to a high of 58.5 as of August, far above any other Asian country’s…
Repsol has just announced the signing of an agreement to buy the US renewable energy development group ConnectGen for $768 million (around €715 million) from 547 Energy, the renewable energy development platform of Quantum Capital Group. According to the statement, with this transaction Repsol “strengthens its position as a global player in this energy sector, increases its international presence and contributes to its goal of reaching 20,000 MW installed by…