Business News & Financial News

In Spain 16th October 2025

Inequality in Spain Continues to Grow: Richest 1% Now Holds Over 21% of Total Wealth compared to 13% in 2002

The average wealth of households has increased by 80.9% over twenty years (in real terms), spanning from 2002 to 2022, driven by the revaluation of real estate assets and, more recently, by the growth of financial assets. However, this progress has been concentrated in the highest percentiles: the richest 1% today accumulates over 21% of the total wealth, compared to 13% in 2002. The Gini index for household wealth has…

European economy, In Europe 16th October 2025

Eurozone industrial production contracts 1.2% in August compared to July

Link Securities | The European statistical agency Eurostat reported that seasonally adjusted industrial production contracted by 1.2% in the Eurozone in August compared to July, significantly less than the 1.8% decline projected by the FactSet consensus of analysts. In August, industrial production fell by 0.2% for intermediate goods, 0.6% for energy, 2.2% for capital goods, and 1.6% for durable consumer goods. Conversely, production increased by 0.1% for non-durable consumer goods….

In the World 16th October 2025

Senior Treasury official estimates cost of government shutdown could reach $15 billion per week

Norbolsa | A senior Treasury official has corrected estimates of the cost of the federal government shutdown, determining that it could cost the economy $15 billion per week, rather than per day as Scott Bessent had publicly claimed on two occasions. On the other hand, Bessent, without giving much detail, also stated that the deficit for fiscal year 2025 will be less than the $1.833 trillion published in the previous…

“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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