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FederalReserve

World economy 10th March 2025

Atlanta Fed forecasts US GDP to contract by 2.8% quarter-on-quarter in Q1 2025, compared to 2.3% growth expected two weeks ago

Last week, nearly all sectors of the S&P 500 weakened. The financial sector lost significant ground on the 4th (-4.67%), with stocks like Citi and Wells Fargo showing very poor performance. In the technology sector, the biggest setbacks were seen in Intel (-6.2%) and Tesla (-4.5%). President Donald Trump’s tariff policies can be seen as an act of ‘throwing stones on his own roof’ as they create uncertainty, which has…

repsol banderines

World economy 8th March 2025

As US withdraws Chevron’s licence to export crude from Venezuela, what will happen to Repsol’s strategic assets in Tomoporo and La Ceiba?

Banco Sabadell | According to press reports, the US has withdrawn Chevron’s licence to export crude oil from Venezuela, with the effective date of 3 April. This decision is in response to the failure of the Maduro government to fulfil its electoral commitments and is part of a package of extended sanctions that will also affect companies such as Halliburton, Schlumberger, Barker Hughes and Weatherford, which will have to suspend…

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…

chair powell

World economy 30th January 2025

Powell’s wait-and-see stance

Juan Pedro Marín Arrese | Jerome Powell made it clear at the press conference following the Fed’s meeting that he and his colleagues are in no hurry to adjust rates. They will only move should prices undertake further progress to converge with the 2% target or the economy markedly cool down, sharply deteriorating employment. Carefully avoiding casting comments on the new administration’s policies, he emphasised the Fed’s commitment to independence…

telefonica edificio

World economy 29th January 2025

Telefónica hires J.P. Morgan to study sale of HispAm subsidiary in Argentina

Renta 4 | Telefónica (TEF) has hired J.P. Morgan to study the sale of its subsidiary in Argentina, according to press reports. The potential buyers are local companies. MiliCom also stands out, to which Telefónica has already sold several Latin American subsidiaries and is in the process of selling the Colombian one. In addition, Telefónica Peru has sent a relevant fact in which it highlights that it is in talks…

China 3

In the World, World economy 2nd January 2025

Xi Jinping expects China’s economic activity to exceed $17.8 trillion in 2024

Norbolsa | Economic activity is expected to exceed $17.8 trillion in 2024, said President Xi Jinping in his New Year’s speech, acknowledging the new challenges facing the economy in the face of global uncertainty and the pressure to transform old growth engines into new ones. He added that the government will implement new proactive measures to boost growth through 2025. Indeed, looking ahead to 2025, Xi said the country aims…

bbva sabadell fusion 2

World economy 27th December 2024

BBVA obtains authorisation from Mexican Competition Commission for Banco Sabadell takeover bid

Norbolsa | BBVA (BBVA) has already received the green light from the Mexican Competition Commission (Cofece) for its takeover bid for Banco Sabadell (SAB). On Monday, the Mexican regulator gave the bank the go-ahead, which has determined that the notified operation is unlikely to affect the process of competition and free economic concurrence. BBVA’s transaction with Sabadell includes the indirect acquisition of Sabadell’s Aztec subsidiary and the rest of its…

oil barrels

World economy 10th December 2024

OPEC to delay planned 180,000 bpd production hike by three months due to China’s economic slowdown

Bankinter: OPEC is to delay the planned production increase of 180,000 barrels per day by three months. This is positive, if not unexpected, news for oil. The current OPEC cuts amount to 5.86 million barrels of oil per day (bpd), which corresponds to around 5.7% of world oil demand. Within the aforementioned cuts, 3.66M bpd will be extended until the end of 2025 and the remaining 2.2M bpd will start…

iberdrola siemens gamesa 1 thumb 722

World economy 21st November 2024

Iberdrola launches €460-million green bond issue in Australia – first ever by a Spanish non-financial company

Alphavalue / Divacons | The Spanish utility yesterday completed a A$750 million (approximately €460 million) green bond issue to finance its renewable development in Australia. According to the company, it is the first non-financial Spanish company to issue in this market known as ‘Kangaroo’. The issue was made in two tranches: A$350 million (€215 million) for six years and A$400 million (€245 million) for 10 years. Demand reached A$2.1 billion…