The United Arab Emirates will leave OPEC and OPEC+, dealing a severe blow to the oil exporting groups and their de facto leader, Saudi Arabia, at a time when the war with Iran has caused a historic energy shock and destabilized the global economy.
The predictable rejection in the Congress of Deputies of the decree containing the extraordinary extension of rental contracts (Junts plans to vote against and the PNV has confirmed it will abstain), which the Government approved a month ago, opens a scenario of legal insecurity that pits tenants and landlords against each other. All experts consulted agree that a wave of complaints could begin (the UGT union speaks of an “avalanche”) from tenants who see their landlord unwilling to extend the terms of their current contract. The scenario, from a legal point of view, is unprecedented.
Less profitable airports and routes are becoming the first victims of the tensions airlines are facing these days. Although they have collectively increased scheduled seats by 6% for this summer, the companies themselves plan to cut capacity on connections where they obtain low margins, in search of efficiency amidst the kerosene crisis, according to industry sources.
The first quarter of the year does not usually bring good news in terms of employment. It comes after the Christmas campaign and before the start of the summer season has been activated. Therefore, these are three months that usually see a loss of employed people and a gain in unemployed people, as has also happened on this occasion. From January to March, 170,300 jobs were lost, according to data from the Labour Force Survey (EPA) published this morning, and the unemployment rate rose to 10.83%. This represents an increase of 231,500 unemployed people.
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.