Business

José Luis Escrivá, the current Minister of Digital Transformation and Public Functions, has been nominated as the next Governor of the Bank of Spain. His candidacy will be officially presented to the Economic Commission of Congress by his colleague, Carlos Body, as reported by Cadena SER. However, the nomination has sparked significant political debate, with the Popular Party (PP) opposing the move and preparing to propose their own candidate for the role of Deputy Governor. The process to formalize Escrivá’s appointment begins with the need for approval from the Spanish Parliament’s Lower House, with a session scheduled for 3:00 p.m.…

Berkshire Hathaway, the investment firm led by Warren Buffett, has achieved a remarkable milestone, becoming the first U.S. technology company to surpass a $1 trillion market capitalization. This achievement has drawn attention not only for its scale but also for the way it outperformed major technology players like Apple, Microsoft, Amazon, and Nvidia—until it was overtaken by the Saudi Arabian oil giant, Aramco, in the global markets. Buffett’s conglomerate is on track to achieve a 30% growth for the year, with much of this success driven by strong performances in its core insurance operations and a broader positive outlook on…

European stock markets showed resilience this week, with the EuroStoxx 50 gaining 0.4% in early trading on Friday, while Spain’s Ibex 35 saw a modest increase of 0.1%. Despite the Ibex 35’s slower pace, both it and the EuroStoxx 50 are poised to record a positive week overall. Investor sentiment has buoyed markets, as most European indices have now gained over 2.5% compared to the previous month. Driving this optimism has been encouraging economic data from the United States, which has helped ease fears of a potential recession in the world’s largest economy. Globally, stock markets have rebounded after facing…

BBVA has introduced a new issuance of subordinated Tier 2 bonds, raising billions of euros to strengthen its capital structure. These bonds offer a lower repayment priority compared to traditional bonds, meaning that in the event of liquidation, bondholders will be repaid only after other creditors have been satisfied. The newly issued Tier 2 bonds have a six-year payback option, allowing BBVA to repay investors within twelve years at its discretion. The market’s response to the offering has been overwhelmingly positive, with demand exceeding €3 billion—three times the initial issuance volume. This strong investor interest led to a price reduction,…

For over a decade, Angola has been a key competitor with Saudi Arabia in supplying oil to China. While it held the title of Africa’s largest oil producer between 2008 and 2010 and was the second-largest supplier to China during that period, its current output is now only half of what it was fifteen years ago. This decline, coupled with China’s increasing relationships with other suppliers, particularly from the Gulf region and Russia, has strained the trade ties between Angola and China. OPEC reports that Angola aims to maintain its crude oil production around one million barrels per day, seeking…

The latest report from the National Statistics Institute (INE) highlights that the recent decrease in inflation in Spain is primarily attributed to the decline in electricity prices compared to the previous year. In September, the Consumer Price Index (CPI) dropped by six tenths, indicating an annual increase of 2.8%. Notably, the CPI, excluding energy and fresh food to mitigate drastic fluctuations, has dipped below the 3% mark that it had maintained for the past two months. This decline in the CPI for September follows two consecutive months of decreases, contrasting with the peaks observed in March, April, and May. July…

This week, the latest inflation figures captured investors’ attention, with the Consumer Price Index (CPI) dipping to 2.9%, marking a 0.2% annual decrease. Although this aligns with market forecasts, market responses were subdued, leaving market movements ambiguous. Analysts note the Federal Reserve’s success in managing inflation, prompting a shift in focus towards the labor market. During its recent meeting, the Federal Reserve highlighted the increasing significance of its staff in decision-making processes. A notable change in communication emphasized a dual focus on potential risks to price stability and employment, hinting at a shift away from inflation concerns towards labor market…

Here are lives at the intersection of fun and scary. One of my companions summed the whole experience up perfectly. He leaned back in his chair at dinner that night, shrimp taco in hand, “These are the kinds of experiences that give something back to you. They show you who you are in a whole new way.” These eight shots crystallize the hard work moms put into keeping their kids alive, happy, and healthy. They might give you the inspiration you need for filling out that card—or stand-alone for your mom’s interpretation.Bob Dyalon At the bottom of the mountain, my legs shaky,…