Telefónica España and trade unions, UGT and CCOO, signed an agreement on Tuesday to extend their Collective Bargaining Agreement, which was due to end this year, until 31 December 2022. The extension includes a 1% wage increase and a bonus of 300 euros to be received in October 2022. The agreement will also serve to consolidate Telefónica España’s new ways of working, with two voluntary teleworking days a week for…
Intermoney | Investment in real estate assets in Spain amounted to around €2.5 billion. This is an increase of 52% compared to the figure for the first quarter of this year, according to provisional data estimated by the consultancy firm CBRE. For the half year as a whole, the total is €4.167bn, a drop of 19% from last year, when one of the best Q1s in history was recorded, just…
Abengoa has informed the Comisión Nacional del Mercado de Valores (CNMV) that Ernst & Young has requested the 3rd section of the Commercial Court of Seville to suspend the powers of the board of directors. E&Y, at the request of the judge, is in charge of the bankruptcy administration of the company (with more than 5 billion in debt). In addition, E&Y – the insolvency administration – has requested that…
Repsol inaugurated its first photovoltaic complex in Manzanares (Ciudad Real) yesterday, called Kappa. The facility has involved an investment of 100 million euros and has total installed capacity of 126.6 megawatts (MW) distributed over three plants: the already operationalPerseo Fotón I and Perseo Fotón II, totalling 90.5 MW; and Perseo Fotón III, currently under construction, which will add the remaining 36.1 MW. It consists of 285,331 solar modules and will…
According to information gathered from nearly 1,000 SMEs throughout the country by the General Council of Economists (CGE) and the Faedpyme Foundation, with the collaboration of the Spanish Chamber of Commerce, only 15.4% of Spanish SMEs believe that they will create jobs this year, while 74.9% believe that they will maintain them and 9.6% that they will reduce them.
The test, which starts today Monday and will last four weeks, will be conducted along with mobile operators and equipment manufacturers in the municipalities of Alcázar de San Juan and La Solana, in the province of Ciudad Real. This trial is intended to assess whether the use of the 700 MHz band for the deployment of 5G may have any influence on DTT broadcasts using the 470 MHz to 694 MHz band, according to the Ministry led by Nadia Calviño. The tests are being carried out prior to the allocation of these frequencies, which will be done via auction next July. The government has already announced it will extend the term of the new frequency licences for 5G from 20 to 40 years, which will allow operators more leeway to amortise the investments made in the deployment of networks.
Luis Alcaide | Spanish exports of goods recorded a historic rise of 71.8 % in April to 25.841 billion euros, and imports rose by 63.9 % to 27.138 billion, compared to April 2020, which was marked by the restrictions of the pandemic. n the cumulative January-April period, Spanish exports recorded a rise of 16.9%, (a growth exceeding that of Germany with 11%, and France with 9.6%) totalling 98.149 billion euros, and imports of 10.3%, with 102.709 billion. This leaves in a trade deficit of 4.560 billion euros, 50.3% lower than a year earlier.
Nippon Steel has announced the sale of a 7.9% stake in Acerinox, the Spanish stainless steel manufacturer, for 218 million euros. The transaction was completed in a private placement by UBS amongst big investors in a few hours at 10.2 euros per share. The price was 5% below the close on Thursday June 17.The Japanese steelmaker was until now Acerinox’s second largest shareholder with 15.8%, behind the 19.35% held by Corporación Financiera Alba, the March family’s investment vehicle. The third investor is Daniel Bravo with 4.5%.
Acciona has already announced the price range, which will oscillate between 26.73 and 29.76 euros per share, for the flotation of 15-25% of its subsidiary, Acciona Energía. This represents a valuation of between 8.8 and 9.8 billion euros (above the stock market value of the parent company, which at close yesterday was 7.5 billion euros). Translated to enterprise value (equity plus debt), the price represents a valuation of 11.9-12.9 billion euros. The stock market debut is expected to take place between June 28 and July 1.
Portocolom | Reducing plastic waste by 70% by 2030 is the aim of the draft Waste Law and to achieve this it includes two taxes on plastic and the obligation to offer tap water in hotels and restaurants, among other measures. The Council of Ministers has given the green light to the draft Law on Waste and Contaminated Soil, and it is pending in the Parliament. The current pandemic has accentuated this contamination by plastics: masks, gloves, food packaging, etc., worsening the situation that we already had. 75% of this plastic will find its way into landfills and the sea. A serious cost to the environment and the economy.