Economía

“We are prepared for the worst-case scenario. Repsol is prepared to supply the Spanish economy with the products we produce. When I speak of the worst-case scenario, I refer to a worsening of the situation in Hormuz. I am not saying that will happen. It would be very positive to see a solution in the short term.” This is the warning issued this Thursday by Josu Jon Imaz during the conference with analysts to present the first-half results, in which the company’s profit soared due to rising oil prices and the increased volume of its reserves.

The situation has occurred again. Red Eléctrica has reported that on Wednesday night, specifically at 22:18, the system operator proceeded to activate the active demand response service, provided for in PO. 7.5. The activation lasted until 24:00.

Despite the double-digit increase in prices over the last five years, a significant portion of wage increases aimed at preserving purchasing power has ended up in the State’s coffers as a result of the non-deflation of personal income tax (IRPF). According to a study published today by the employers’ association Pimec, approximately half of the labor cost to correct for inflation is allocated to Personal Income Tax (IRPF) and social security contributions.

The European Commission dealt a very significant blow to Google this Thursday, challenging the United States at a delicate moment in trade relations across the Atlantic. Brussels is shaking up the US tech industry by imposing two fines totaling 890 million euros for violating the European Digital Markets Act (DMA). The sanctions could be a cause for anger in the White House, as the criticized Turnberry trade agreement is about to complete a year and while US President Donald Trump finalizes new tariffs due to the expiration of the 10% global levies he imposed after the Supreme Court annulled his previous tariff barriers in February.

The Spanish Government proposes Yolanda Díaz to lead the International Labour Organization (ILO). This is a possibility that had been speculated about in recent weeks, especially due to the dedication that the current Second Vice-President and Minister of Labour was displaying within the scope of this organization, and today it has been made official.

The drums of trade war are rumbling again.

The law to restrict housing purchases in Catalonia continues its processing in the Parliament with a relevant new development: the PSC and ERC propose to limit its application only to large holders (five or more homes) and to companies (legal entities). This is reflected in the amendments that socialists and republicans have introduced on their own and to which La Vanguardia has had access.

The capital city effect explains part of why the State invested more than twice as much in Madrid as in Catalonia last year. The other part is because the actual spending on works is lower in the Catalan community than in the one that hosts the capital.

Returns in Central and Northern Europe the susceptibility to the ‘well-being’ of the South

The European Commission has today imposed a fine of 550 million euros on AliExpress for the Chinese platform’s failure to control risks related to the sale in the European Union of illegal, unsafe, or counterfeit products on its electronic marketplace. This includes everything from toys to dangerous cosmetics that circulated freely on the platform and, in many cases, remained online for weeks after being detected until they were removed. The company intends to appeal what it calls a “disproportionate” sanction, Reuters reports.