Business News & Financial News

In Spain 15th December 2025

CNMC considering liberalising access to telephone, audiovisual and radio network, benefiting Cellnex and Telefónica

Banc Sabadell | The Spanish Compeition Authority (CNMC) is reportedly considering liberalising access to the physical infrastructure (ducts) of the telephone network and to the audiovisual and radio signal transport network. The former could benefit Telefónica (TEF) in a residual manner (the rental of ducts to other operators accounts for approximately €70 million in revenue, or approximately 0.2% of the group’s revenue), and the latter could benefit Cellnex (CLNX) (the…

European economy, In Europe 15th December 2025

Eurozone industrial production rises 0.8% in October, more than expected

CdM | Eurozone industrial production rose 0.8% in October, according to data from Eurostat, the EU statistics office. The figure was above consensus forecasts, which anticipated a more moderate increase of 0.1%. Across the European Union (EU), it grew 0.3% in the tenth month of the year. Analysed in detail, industrial production in the eurozone increased by 0.3% for intermediate goods, 1.1% for energy prices, 0.5% for capital goods, 0.2%…

In the World 11th December 2025

Fed cuts benchmark interest rates by quarter point to 3.5%/3.75% amid apparent split over economy

Bankinter | The Fed cuts benchmark interest rates (Fed Funds) by a quarter of a point to 3.5%/3.75% as expected. The decision was not unanimous, with one vote in favour of cutting by 50bp (Miran) and two in favour of maintaining rates (Goolsbee and Schmid). They announced that from 12 December they will increase their balance sheet again by purchasing treasury bills, not as part of their monetary policy, but…

“We need to approach negotiations with the U.S. on terms that are completely different from those currently being proposed”

Says Antonio Bonet, president of the Club of Spanish Exporters and Investors. He points out that “Europe has a single tariff applied by all member states, but the U.S. applies a tariff to each country, meaning it can decide that the tariff applied to Spanish black olives is higher than that for Italian olives, as it did at one point. So there is a part of the negotiation between Europe…

“Fifteen years ago, the European economy was larger than that of the U.S. Today, the U.S. economy is one and a half times that of Europe”

“It is a shame that we are able to mobilize economic resources for large-scale projects abroad, but not in our Spanish market”

In an interview with Consejeros magazine, Sacyr’s coordinating advisor, Elena Jiménez de Andrade, explains that now “We have great capacity to win projects, a capacity that until now contrasted with a series of financial limitations and balance sheet size. However, in this strategic cycle, we are going to eliminate those barriers. That is why we have set an ambitious goal for 2033: to triple the value of our assets. We…

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