COPENHAGUEN | By Peter Lundgreen via Caixin | In China, the right phone app can get 30 to 40 million users in six to 12 months. The focus on exporting goods to this market ignores the contributions Europeans could make in the dynamic tech sector.
MADRID | Bankinter Analysis | 3Q Perspectives. Economic cycle speeds up and, mostly, gains soundness and reliability. Global growth will consolidate in 2014/2015 by +3%/+4% with positive news for developed countries and less favorable surprises in emerging markets. Japan and India are the exception to this rule. Spain will also amaze and main economic risk will lie in regional regional integrity issues whose aftermath may be undervalued, regardless the final scenario.
The Corner Analysis | In the grim day in which the French National Front victory broke the expectations of a more united and strong Europe, Spaniards broke the bipartisan establishment for the first time in 35 years. Podemos, born from the Indignados (outraged) movement, was the biggest surprise in the political arena. Voters weary of austerity measures and corruption also punished the political establishment in Greece. Eurosceptics and xenophobe movements dangerously gained strenght in Denmark, Austria, Finland and the UK.
MADRID | By Jaime Santisteban | European Parliament could eliminate roaming mobile phones rates as of December 2015. Although they’ve been reduced in the last years, it still means 2 % of Telefónica Group income. ACF foresees an impact worth 4 % in the company’s EBITDA.
IAG released March air traffic figures which were under target but keep the recent trend. Demand grows (+10.2 % vs March 2013) for the second straight months. Iberia lost -5.1 % compared to February whereas Vueling (+21%) and British Airways (+3.2%) improved. RENTA4 expects no impact on IAG share price.
SCOTTSDALE (ARIZONA) | By Keith Weiner via Truman Factor| I would discourage everyone from making too much out of the Chinese gold carry trade. It’s not a giant conspiracy to buy up all the gold, while suppressing the price. It is not some farsighted plan to anticipate the collapse of the dollar by owning hard assets.
ATHENS | By Nick Malkoutzis via The Agora | Over the last few weeks, several members of Greece’s 2004-2009 government have basked in the same Attica sunlight as the ancients, while displaying the carefree abandon of people who don’t feel responsible for the country’s dire financial state or its shattered reputation.Had public officials done the same in other European countries, their careers would have been destroyed. In Greece, these men claim their absolution and rehabilitation almost unchallenged.
WASHINGTON | By Dean Baker via Caixin | While Britain is lavished with dubious praise for its austerity policies, Japan has made real progress with its experiments in stimulus.
BRUSSELS | By Jacobo de Regoyos | Athens will preside over the European Union for next semester as their citizens take the streets against budgetary cuts and 30% of their population is unemployed. For some, this magnificently ilustrates what an united and supportive Europe means. For others, allowing Greece, under creditors’ surveillance, to be an international reference during half a year is some sort of a risk. In order to avoid gloomy predictions, Foreign Affairs’ Minister, Evángelos Venizelos, has promised hard work and austerity: “A spartan presidency with Athenian values”.
LONDON |By Barclays analysts | The interim nuclear deal concluded this weekend marks an important first step that could eventually lead to the normalization of relations between Iran and the west. However we believe the path to a final deal, one that would lead to the removal of the most sweeping sanctions, remains challenging given that some key stakeholders could act as spoilers.
LONDON | By Barclays analysts | Several data releases over the past few days confirm that the Spanish economy has left behind a very long recession. The data confirm our view of a very gradual recovery in economic activity starting in Q3 2013 (seeEuropean Economics Quarterly, October 2013, for details). The economy grew at +0.1% q/q in Q3 13 after nine consecutive quarters of negative prints.