Tubos Reunidos has acknowledged that it is currently in a situation that compromises its viability and does not rule out filing for voluntary bankruptcy, should it fail to secure new financing or strategic alliances aimed at boosting the activity of the Basque steel group.
The sale of buildings is complex, whether from a single owner or multiple owners, as it presents different scenarios that advise making these types of decisions with prior expert advice.
The chairman of Banc Sabadell, Josep Oliu, resigns as a director of the Puig Brands perfumery and beauty group seven months before his term ended, according to consulted sources. The same sources explained that the departure is voluntary and given the proximity of the expiration date of his position as proprietary director. He had held the position since 2002.
Spain will have to make a “final effort” in the next four months to be able to make the most of the transfers from the Recovery Plan. This was the term used this Thursday by the First Vice-President and Minister of Economy, Carlos Cuerpo, to refer to the challenge for administrations to deploy all direct and non-reimbursable aid from the European Commission before the end of August. At this moment, there are 13 billion euros at stake, although some items are already earmarked.
The shareholder meeting of entertainment giant Warner Bros Discovery approved on Thursday the acquisition by fellow US company Paramount Skydance for 110 billion dollars. Despite strong opposition to the deal in Hollywood, it went ahead with overwhelming support from its owners.
Criteria Caixa has constituted the new management company through which it will invest in third-party funds, as contemplated in the holding’s new strategic plan for the coming years. The objective is to build a portfolio of diversified long-term funds. These investments include the new vehicle that the European Union is going to launch to invest in technology companies called Scaleup Europe. In addition, Criteria already has about 750 million committed to investments.
Delivery drivers, on motorcycles or bicycles, are already part of the urban landscape in large European cities. In Paris, they are especially visible at night, adding more chaos and danger to traffic. Their working conditions are controversial, to the point that on Wednesday four associations filed a complaint with the public prosecutor’s office of the French capital against the Uber Eats and Deliveroo platforms for human trafficking, an accusation of unprecedented seriousness, and for labor exploitation.
EU countries already have their box of recommendations from the European Commission to mitigate the energy crisis stemming from the closure of the Strait of Hormuz. And it does not include the suggestion of teleworking, as an earlier draft stated, but it does include reinforced coordination of energy reserve storage among Member States, one of the few competencies the Community Executive has in this area. Brussels, however, is for the moment shelving the idea of approving a European mechanism to tax the extraordinary profits of energy companies, despite the request from large EU countries such as Spain, Italy, and Germany.
Deutsche Telekom AG is considering a full combination with its US subsidiary T-Mobile US Inc., a deal that would create a multinational telecommunications group and become the largest public merger and acquisition operation in history, according to people with knowledge of the matter.
Food manufacturers and supermarkets are starting to assume they won’t be able to keep containing prices much longer. After weeks of cushioning the impact of rising energy costs, companies warn that the effort has limits and that, if current tensions persist, the transfer to the shopping basket will be inevitable.