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Catalan Economy Feels the Pinch Amid Bid to Split From Spain

Jittery businessmen in Catalonia, spooked by signs the recent tumult over the region's latest bid to secede from Spain is hurting the local economy, have put their investment plans on ice as they brace for the Catalan parliamentary election on Thurs ...

Daily Headline - global.abi.org - 12/18/2017 - 22:25 - 0 comments

Hedge Funds to Fight Spanish Government for Toll Road Payout

Global hedge fund managers have said they are willing to pursue the Spanish government in the courts for a “zillion years” until they get a full payout over a series of bankrupt toll roads, the Financial Times reported. The group, some of whom were i ...

Daily Headline - global.abi.org - 12/04/2017 - 21:45 - 0 comments

Catalan Crisis Will Hit Spanish Economic Growth

Spain’s constitutional crisis in Catalonia will lower the country’s projected economic growth next year, according to Madrid’s finance minister. Luis de Guindos said the country’s GDP growth projection had been lowered by about 0.4-0.5 percentage points to 2.3 per cent next year — “a small impact” ...

Daily Headline - global.abi.org - 11/06/2017 - 22:19 - 0 comments

Stocks and Bonds Rattled as Spain Moves to Suspend Catalan Power

Spanish bonds were shaken and the country’s stocks erased two days of gains as Prime Minister Mariano Rajoy’s government deployed its ultimate constitutional weapon in a bid to bring Catalonia’s bid for independence to an end, Bloomberg News reported. Sp ...

Daily Headline - global.abi.org - 10/20/2017 - 00:10 - 0 comments

Catalonia Crisis: The Main Questions for Investors

Financial markets have swung their attention towards Spain after the Catalan regional government held a contested independence vote on Sunday, setting it on a collision course with Madrid, the Financial Times reported. Investors have been spooked by ...

Daily Headline - global.abi.org - 10/05/2017 - 23:06 - 0 comments

Business Fears Economic Fallout From Catalonia Confrontation

Business in Catalonia has warned that political instability, violence and legal uncertainty could deter investment and hurt the economy, as tensions escalate ahead of the region’s planned independence referendum on Sunday, the Financial Times reporte ...

Daily Headline - global.abi.org - 09/27/2017 - 22:24 - 0 comments

Brazil Cancels Abengoa's Power Transmission Licenses

Brazil’s Mines and Energy Ministry has canceled nine licenses to build transmission lines that had been granted to Spain’s Abengoa SA after the company abandoned construction works in 2015, a senior official said on Wednesday. The decision formalizing ca ...

Daily Headline - global.abi.org - 09/20/2017 - 18:11 - 0 comments

Spain’s Construction Sector Rises from the Ashes

When Juan Velayos left his job at the accountancy firm PwC to become chief executive of Spanish housebuilder Neinor Homes two years ago, some people thought he was crazy. Construction companies in Spain once built more residential homes every year than t ...

Daily Headline - global.abi.org - 09/17/2017 - 22:14 - 0 comments

Banco Popular Bondholders File Appeal in Spain Over Rescue

A group of bondholders in failed Banco Popular have filed an appeal against Spain’s banking bailout fund, their law firm said on Thursday, after the bank’s rescue landed them with 850 million euros ($1.02 billion) of losses, Reuters reported. European au ...

Daily Headline - global.abi.org - 09/07/2017 - 21:53 - 0 comments

Why Banco Popular’s Credit Default Swaps are Getting Messy

When EU authorities wiped out some of Banco Popular’s bonds last month, it looked as if credit default swaps might finally compensate bank debt investors for their losses with little controversy, the Financial Times reported. Credit derivatives writt ...

Daily Headline - global.abi.org - 07/18/2017 - 21:20 - 0 comments

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