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Spanish economy

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Spanish economy 13th February 2014

Spanish recovery: PM Rajoy fights to sell optimism in electoral year

BARCELONA | By Joan Tapia | Markit analysts point out the positive impact of the wage reductions that increase the competitiveness of Spanish products and help export. If Europe pulls the cord – as the PMI show- the economy could accelerate in the coming months. The Government exaggerates these data (reforms, foreign capitals inflow, and European growth) to underline that the economy will create jobs in 2014 while other analysts – more independent or from other political areas – show more caution.

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Spanish economy 11th February 2014

Bill Gates bites Spanish market again with Prosegur’s little purchase

MADRID | By The Corner Team | When Bill bought 6% of Spanish construction company FCC in last October Spain’s analysts remarked renowed investors interest in the country and anticipated the trend would continue in the coming months. On Tuesday, Bill Gates counterbacked with the acqusition of 2-3% of private security Prosegur.

Spanish economy 5th February 2014

Big Spanish banks rise profits fourfold to €8bn

MADRID | By Francisco López | As lower provisions, sale of assets and gains from financial operations enable big names such as Santander, BBVA, Caixabank, Bankia, Popular and Sabadell to multiply profits by four, the FT encourages to invest on Spanish banks, especially on medium size entities. However they have an unfinished business: profitability.

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Spanish economy 30th January 2014

An independent Scotland could affect some Spanish Iberdrola’s assets

MADRID | By Julia Pastor | A Downing Street report, elaborated as part of the political campaign before Scotland’s independency referendum, explains that Iberdrola’s subsidiary Scottish Power could lose the regulation advantages that London negotiated with Brussels. Some have understood the issue as a warning or a threat about risks for Iberdrola to be forced to sell its electricity transportation grid at Great Britain’s north. It only would comprise high-tension lines, which means a little portion of 20-25% of Iberdrola’s income coming from Scottish Power.

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Spanish economy 30th January 2014

Spain’s Growth Accelerates, Job Creation Not Quite Yet

MADRID | By  The Corner Team | Spain’s GDP expanded 0.3 percent in the quarter ended Dec. 31 from the previous three months. For the first time since 2011, the euro region’s fourth largest economy’s growth increased for a second straight quarter, according to official estimates. Market makers are underlying their faith on this new-found economic momentum, and their trust comes as fresh air for the government, who predicted a faster rate recoverty than initially expected. Still, job creation needs to pick up from a depressing 26%.

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Spanish economy 23rd January 2014

Less unemployment also means less jobs in Spain

MADRID | By Fernando G.Urbaneja | With no possibility to devaluate currency, 3.7 million jobs have dissapeared in Spain’s society. This data should force Spanish political leaders as well as population to start a long and profound debate.

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Spanish economy 22nd January 2014

Spanish Banking Sector Smiles Again Thanks to 2013 Business Results

MADRID | By Francisco López | The new season for presenting results starts this week with much better expectations than in previous years. After two years recording negative results in Spain, most market watchers consider that 2013 allowed the return to positive figures thanks to cost reductions, the increase in financial operations, the low interest margin and a lower impact on the accounts of the harsh restructuring process started in 2009.