Crédito y Caución (Atradius) | In India, GDP growth slowed to 7.0% in 2022, down from 8.3% in 2021. In 2023, GDP growth is likely to slow even further to 4.4%, owing to a rapidly weakening global backdrop and slackening domestic demand. There is widespread weakness in the manufacturing industry. Industrial production fell month-on-month on a seasonally adjusted basis in July and August. These trends, in combination with a manufacturing…
The former Minister of Industry in the Socialist government of José Luis Rodríguez Zapatero will today present in Madrid his book “El virus interminable” (Ediciones B). In it he analyses the mistakes made during the pandemic and the pending issues in the event of a new health crisis of this type in our country. On this occasion, the newspaper La Razón interviewed him. Q- Could the management of the data…
Matt Christensen (Allianz GI) | The COP27 climate summit takes place in Egypt in November, providing a check-in on global progress towards net zero in a year dominated by economic and geopolitical pressures. There are reasons to be optimistic. • The focus of this year’s COP27 is on “delivery” after an eventful year that has also revealed the flaws in our existing energy mix• The financial sector will be in…
Spain’s industrial sector slowed in October as a result of a sharp rise in production costs and a slump in demand across the Old Continent, where figures “clearly indicate that the manufacturing economy is in recession”. Spain’s Purchasing Managers’ Index fell by 4.3 points to 44.7 in October, both the worst figure among the major European countries and the biggest decline of all. And the worst figure since the coronavirus…
Almudena Díez | Ismael Clemente, CEO of Merlin Properties, explains that “What we are seeing today is that the adoption rate of teleworking in Spain is very low. In fact, it is one of the lowest, not only in Europe, but in the world. With the exception of the public administration, which has adopted it massively, with the risk of generating inefficiency” Q: A Bankinter director told us that the…
Ezentis, formerly Avanzit and Radiotrónica, is once again facing serious financial problems that threaten its viability. The company has asked the Sociedad Estatal de Participaciones Industriales (SEPI) for help on the verge of the end of the public business rescue fund. The energy and telecommunications infrastructure installation company has confirmed to the CNMV that it has requested 70 million euros in public money. The aim is to recover the group’s…
Hamza Mudassir (The Conversation) | The world’s richest man, Elon Musk, is now Twitter’s largest shareholder after acquiring a 9.2% stake in the social media platform for just under US$3 billion (£2.3 billion). The announcement drove Twitter’s share price up 27%, and it continued to grow in after-hours trading. This investor enthusiasm is not surprising. Social media platforms have been suffering lately thanks to newly developed pressures in their ecosystems….
Fernando González Urbaneja | The same PP leaders who last year closed ranks with Casado as a firm candidate for the Moncloa (the polls were favourable to them at the time) have applauded with the same intensity another leader who emerged from a fratricidal internal crisis that was hardly exemplary. A crisis with a few victims (Casado and his few loyalists) that has weakened the party, several of its leaders…
Fernando González Urbaneja | The risk of inflation which last autumn seemed temporary, caused by a temporary rise in energy prices, has become systemic. And the longer-term and worrying consequences threaten stagflation (inflation without growth and with unemployment). Economic textbooks warn that inflation is a monetary phenomenon that can be cured with monetary policy, with restrictions in the form of interest rate rises and a reduction in the money supply….
J.P. Marín-Arrese | Biden needs to bolster his tarnished presidency before the upcoming elections. Failing to deliver his electoral promises for the less well off, he faces the grim prospect of losing control of the Chambers. His economic record seems appallingly lacklustre as inflation is eroding incomes of most American households. Moderate Democrats allied themselves with Republicans to dump bombastic plans to provide widespread social benefits. Growth and jobs are…