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World economy 5th June 2025

OECD revises down forecast for global growth in 2025 to 2.9% from 3.1% foreseen previously

Link Securities | According to a new report published by the OECD, its analysts expect global gross domestic product (GDP) growth to slow this year, with projected growth of 2.9% in both 2025 and 2026, down from 3.3% last year. These analysts justified this weaker outlook to rising global uncertainty, driven mainly by changes in US trade policies. In its report, the OECD warns that more trade barriers could further…

World economy 2nd June 2025

US personal consumption price index rises 2.1% in April, core 2.5%

Link Securities | The Commerce Department released on Friday that US personal income rose 0.8% in April from March, significantly more than the 0.4% increase analysts had expected. This increase was mainly due to a 2.8% rise in personal current transfer income. In addition, compensation of employees rose by 0.5 per cent. Rental income was unchanged, while income from personal rents on assets fell by 0.4 per cent. On the…

World economy 27th May 2025

IAG returns to MSCI World Index following exclusion in 2019 for protecting shareholding from non-EU investors in wake of Brexit

Renta4 | IAG will enter the MSCI World Index from Monday 2 June. Ryanair will also enter the index. The MSCI World Index incorporates some 1,350 medium and large companies from the world’s 23 major developed economies. IAG was part of the index until March 2019 when it was excluded following its decision to shield its shareholding from non-EU investors to protect itself from Brexit. Assessment: Positive news as the…

World economy 26th May 2025

Iberdrola founds East-West Digital company to develop AI-based solutions for global sustainability

Alphavalue / Divacons | The Spanish utility yesterday announced the official launch of East-West Digital, a new company dedicated to the development and commercialisation of AI-powered digital solutions for sustainability. East-West Digital will leverage innovations developed by Iberdrola Innovation Middle East, a world-leading digital solutions innovation centre developed by Iberdrola at the Qatar Science and Technology Park. The company will design, industrialise and commercialise AI-based solutions for sustainability with global…

World economy 16th May 2025

Trump’s fiscal plan includes proposal to increase debt by $4 billion

Norbolsa | Republicans introduce the fiscal plan in Congress, which includes the tax cuts promised by Trump during his campaign (making the tax cuts from the first term permanent; tax exemptions for tips, overtime, private education payments, pensions and local tax cuts). No estimate of the cost (revenue shortfall from the plan) has been provided, which they hope to offset with cuts to the Medicaid healthcare programme, other spending cuts…

World economy 14th May 2025

US and China suspend most tariffs on each other’s products for 90 days

Link Securities | According to the Wall Street Journal, the United States and China announced that they had agreed to suspend most tariffs on each other’s products for a period of 90 days while trade negotiations continue. The United States announced that it would reduce its ‘reciprocal’ tariff on Chinese products from 145% to 30%. China announced that it would reduce its tariff on US products from 125% to 10%….

World economy 13th May 2025

A “Mar-a-Lago Accord” for the Taiwan Dollar? The Economic and Geopolitical Consequences

Alicia García Herrero (Natixis) | The New Taiwan Dollar (TWD) tends to be a boring currency with limited volatility, but the sudden appreciation – if not revaluation – on 2nd and 5th May has surprised the world. The fact that it happens while Taiwan holds negotiation talks with the Trump administration is telling, although there is no official acknowledgement of the coincidence.Until the recent appreciation, the performance of the TWD…

World economy 13th May 2025

Chinese shipping companies resume purchasing space for US-bound goods after cancellations due to tariffs

Link Securities | According to Reuters, shipping agencies based in China have resumed purchasing container space for goods bound for the US after a series of cancellations imposed by US tariffs, as both governments prepare to begin trade negotiations. In this regard, the agency notes that trade between the world’s two largest economies has plummeted since US President Donald Trump imposed tariffs of 145% on Chinese-made products on 10 April,…

World economy 12th May 2025

US tariff uncertainty causes Acerinox’s profit to drop to €10 million in Q1 2025 from €53 million in Q1 2024

Renta 4 | Negative. Acerinox has published its results for Q1 2025, which reflect the slowdown in demand caused by uncertainty generated by tariffs in the United States, a circumstance that has caused Q1 2025 figures to be slightly below our estimates and those of the market consensus (Q1 2025 EBITDA €102 million, compared to Renta 4’s estimate of €111 million, and €109 million, consensus). Neutral/slightly negative impact on the…

World economy 9th May 2025

Sacyr wins water concession in Chile with initial investment of €260m

Intermoney | Sacyr (SCYR) (Buy, Target Price €4.4/share), the Group has been awarded a water cycle concession in the region of Antofagasta (Chile), which will involve an initial investment of €260 million, with a duration of 35 years. This is the largest water reuse project in Latin America, which involves the construction of a wastewater treatment plant for subsequent commercialisation. The main function of the project will be to capture…

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