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CAF factory

World economy 5th December 2023

CAF consolidates alliance with Mitsubishi with award of new €150M contract in Philippines for North-South commuter line

Intermoney: The company informed the CNMV (National Securities Market Commission) on Friday that it has been chosen by Mitsubishi as subcontractor for the design and supply of seven electrical units in the Philippines. Specifically, the units are for the new North-South commuter rail line that will connect Clark International Airport, northeast of Manila, with the province of Laguna in the south of the island of Luzon. The project is expected…

Fed 10junio19 1

In the World 4th December 2023

Powell considers it “premature” to talk about rate cuts

Bankinter| Fed Chairman Jerome Powell made a statement in which he considered that it is premature to talk about rate cuts. In fact, they are prepared to act by raising rates if necessary. They will continue to take decisions meeting by meeting but monetary policy will remain restrictive until there is certainty that they are close to the 2% target. On the labour market, conditions remain very solid. The recent…

EEUU bienes duraderos

In the World 2nd December 2023

US grows 5.2% in 3Q23 compared to 2.1% in previous quarter, largest increase in two years

Link Securities| According to the second estimate of the data, released yesterday by the Commerce Department, US Gross Domestic Product (GDP) expanded 5.2% in 3Q2023 relative to 2Q2023 in annualised data (2.1% in 2Q2023), slightly more than the 4.9% initially estimated. The FactSet consensus of analysts expected growth of 4.9%. The increase in GDP in 3Q2023 is the largest in annualised data since that achieved in 4Q2021. In this second…

China ghost towns

In the World 1st December 2023

Through the looking glass: China’s property crisis and its implications

Alicia García Herrero (Natixis)| China’s real estate crisis has lingered for over two years. While the recurring headlines from Evergrande to Country Garden have dampened foreign investors’ sentiment on China-related assets, the brewing spillovers have dragged domestic consumer and business confidence. What is new is that policymakers seem to believe that the problems have reached a tipping point recently. Although many policy changes have largely fallen short of expectations, the…

Indra aeropuertos

In the World 29th November 2023

Indra to provide Vancouver International Airport (Canada) with most advanced control tower in the world

Link Securities| The Spanish company will supply Vancouver International Airport (Canada) with the world’s most advanced control tower. In a press release issued by Indra, the company explained that it is a digital system to control the movement of aircraft on the apron with which the Canadian airfield manager will start its own programme of digitalised apron management services. Indra will deliver an integral digital tower solution equipped with a…

black friday 2018

In the World 27th November 2023

Black Friday balance: online spending up 9% to $16.4bn in US, and 8% to $70.9bn globally

Bankinter: According to Salesforce, which aggregates data from retailers’ websites, online spending amounted to $16.4bn in the US (+9%); $70.9bn globally (+8%). Average discounts were 30%. Mastercard estimates that online retail was up +8.5% in the US and +1% in physical shops. According to Adobe Analytics, online spending reached $9,800Bn (+7.5%) vs. $9,600Bn estimated. On Thanksgiving, according to the same source, online sales were $5.6 billion (+5.5%), in line with…

SAN BBVA

In the World 24th November 2023

BBVA and Santander reach agreements with Geely and GAC Motor to finance close to 30,000 vehicles in Mexican market in one year

Link Securities | BBVA (BBVA) and Banco Santander (SAN) have reached agreements with Geely and GAC Motor to finance nearly 30,000 vehicles in the Mexican market in one year, a market that both entities consider strategic, according to Expansión newspaper on Friday. BBVA and Geely have signed an agreement whereby the bank will be the exclusive financier of the Asian brand in the country through the launch of Geely Financial…

No Picture

In the World 23rd November 2023

China to recommend economic growth target of between 4.5% and 5.5% for next year

Link Securities| China’s government advisers will recommend economic growth targets for next year ranging from 4.5% to 5.5% at the annual policymakers’ meeting, Reuters reported yesterday. Thus, five of the seven advisers who spoke to the news agency said they favoured a target of around 5 per cent, matching this year’s target. In turn, one adviser will propose a target of 4.5 per cent, while the other suggested a range…

XI Biden

In the World 23rd November 2023

Biden-Xi dialogue instrumental for a successful EU-China Summit in Beijing

Alicia García Herrero (Natixis) | The Biden-Xi summit in San Francisco on 15 and 16 November 2023 might feel underwhelming for its lack of concrete announcements, especially given the long list of pending issues which had piled up since their last encounter on the sidelines of the G20 in Bali. Disappointments were equally shared by the two sides. On the Chinese side, the most pressing issue was likely the lifting…

eeuu madeinCM 1

In the World 21st November 2023

Conference Board’s advance indicator, below previous month and below expectations: 0.8%

Link Securities| The Conference Board’s index of US leading economic indicators, the Leading Economic Index (LEI), declined 0.8% in October compared to September, after falling 0.7% in September. The FactSet consensus of analysts expected a decline of 0.6%. In the April to October time period (last 6 months) the LEI has contracted by 3.3%, a smaller decline than the 4.5% drop it experienced during the previous six months (October 2022…