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Santander’s Madrid HQ Searched By Spanish Authorities In HSBC Tax Probe

Spanish authorities have searched Santander's headquarters in Madrid as part of a probe into alleged money laundering and tax evasion triggered by leaks from HSBC's Swiss private bank, Economia reported. Spanish police were seeking document ...

Daily Headline - global.abi.org - 06/06/2016 - 21:56 - 0 comments

Shares in Spain’s Banco Popular Plunge on $2.8 Billion Rights Issue

Banco Popular Español SA will launch a €2.5 billion ($2.8 billion) share sale in an effort to ease investor concerns about its massive pile of soured property loans, The Wall Street Journal reported. Banco Popular, one of Spain’s weakest major lender ...

Daily Headline - global.abi.org - 05/27/2016 - 01:44 - 0 comments

Spain Facing Fresh Austerity Measures Post Election

Spain’s acting prime minister Mariano Rajoy is planning to implement new austerity measures if he remains in government after a June election, in a bid to avoid a European Commission sanction for failing to control the public deficit, the Irish Times ...

Daily Headline - global.abi.org - 05/24/2016 - 00:14 - 0 comments

EU Delays Decision on Spain and Portugal Over Deficit Breaches

The European Commission has put off a contentious decision on imposing financial sanctions on Spain and Portugal for failing to bring their budget deficits within European Union rules, saying it would revisit the issue in July, after Spain had held a gen ...

Daily Headline - global.abi.org - 05/18/2016 - 21:01 - 0 comments

Spanish Unemployment Up Slightly But Officials Remain Positive

Spain’s unemployment rate rose slightly in the first quarter, to 21 per cent, but job losses were less severe than usual in what is traditionally a weak period for the labour market, the Financial Times reported. The number of out-of-work Spaniards r ...

Daily Headline - global.abi.org - 04/28/2016 - 21:19 - 0 comments

Spain to Overshoot Budget Deficit Target Again

Spain will overshoot its deficit target again this year, the caretaker government said Tuesday, as the country struggles to adhere to budget agreements reached with European Union authorities, The Wall Street Journal reported. Spain is projected to r ...

Daily Headline - global.abi.org - 04/19/2016 - 21:29 - 0 comments

CaixaBank Set to Take Over Portugal’s BPI After Shareholder Drops Opposition

The Spanish lender CaixaBank is set to proceed with a takeover offer for BPI, a Portuguese bank, after reaching an 11th-hour agreement with an Angolan investor who had blocked its bid, the International New York Times reported. BPI announced late on ...

Daily Headline - global.abi.org - 04/11/2016 - 22:11 - 0 comments

Mario Conde, Ex-Bank Chief in Spain, Arrested in Money-Laundering Inquiry

A disgraced former Spanish banker, Mario Conde, was arrested on Monday as part of an investigation into whether he fraudulently repatriated the equivalent of nearly $15 million in money he had hidden offshore while presiding over the collapse of one of S ...

Daily Headline - global.abi.org - 04/11/2016 - 22:38 - 0 comments

Santander To Cut Up To 450 Branches And 1,000 Jobs In Spain

Banco Santander plans to close 450 branches in its Spanish home market in an attempt to bolster profitability and address the rapid shift towards internet and digital banking, the Irish Times reported. The euro zone’s largest bank by market value ope ...

Daily Headline - global.abi.org - 04/03/2016 - 18:43 - 0 comments

Spain Falls Short In Battle To Close Yawning Defict

Spain has veered sharply off course in its long-running effort to reduce the budget deficit, unveiling a 5.2 per cent shortfall in 2015 that is likely to raise alarm inside the European Commission and impose significant political constraints on the next ...

Daily Headline - global.abi.org - 03/31/2016 - 22:51 - 0 comments

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