Noticias

La sentencia considera que esta tarifa subvencionada para los más desfavorecidos no la tienen que costear las empresas

El margen financiero del banco portugués mejoró un 12,6%, hasta los 55,6 millones de euros. Leer

THERE have only been six chairmen of the Tata Group since it was founded in 1868. There will soon be a seventh after Cyrus Mistry, the first boss of the conglomerate not connected to the founding family, was ousted after less than four years in charge. Even though he undertook few of the reforms needed to bring vast swathes of the Tata empire to profitability, he will prove a difficult act to follow. That the ousted man has now embarked on an extraordinary rampage against his old employer will scarcely help.

Mr Mistry might reasonably have expected to serve for a couple of decades at the helm of India’s biggest group, with interests from IT to cars, hotels, salt, steel and much else besides. His departure on October 24th was a surprise. For a company with a culture of consensus, the abruptness of his sacking—the board did not even give him the option of stepping down, and the purging of many of the top executives he had hired—is about as brutal as it comes. Ratan Tata, his predecessor, will take over while a new boss is found.

The catalyst for the defenestration was the lack of performance at some of the group’s big companies….Continue reading

El resultado se disparará por la ausencia de los extraordinarios negativos que lastraron la cuenta hace un año. Leer

Declara inaplicable el régimen de financiación del bono social, que se aplica a los consumidores de energía eléctrica considerados más vulnerables Al Alto Tribunal entiende que es incompatible con la normativa comunitaria. Leer

La sentencia exige que se indemnice a las eléctricas al considerar que esta tarifa subvencionada va en contra de las normas comunitarias

CHAMPAGNE corks must have been popping yesterday at London Heathrow, Europe’s busiest airport, as the British government finally gave it the green light to build a third runway. The decision has been a long time coming. The airport, has been operating at 99% of its capacity for a decade.

No new full-scale runways have been built in south-east England since the second world war because of government dithering. More than a dozen commissions, policy documents and white papers investigating how to expand capacity around the capital have come and gone since the first proposal to build a third runway at Heathrow in 1946. Those plans were defeated by NIMBYs, tight budgets and legal challenges. But just like the thick fog that enveloped Heathrow this morning, the path to expansion is still murky.

The first obstacle is political. Although members of the British government’s aviation sub-committee were unanimous in their support for expansion at Heathrow rather than Gatwick, its arch competitor to the south of London, not everyone in the cabinet is convinced. Many west London MPs vociferously oppose expansion, including Boris Johnson, the foreign secretary, who once…Continue reading

FINDING a reliable way of timing the market is something that has eluded the greatest investment minds in history. That is why many people are tempted by the “magazine cover indicator” as a contrarian signal. One of the most famous was Business Week’s “Death of Equities” cover in 1979 (which actually came three years before the great bull market got going).

Two analysts from Citigroup, Greg Marks and Brent Donnelly, write that:

The premise behind the indicator is that when a journalist or editor finally devotes a cover to a market trend, company, country or person, the story or theme has been in vogue for some time and is likely past its peak. Positioning and sentiment should already fully reflect the story on the cover of the publication and the story should be fully priced in. In other words, by the time a journalist writes about the trend, a majority of the move has already happened.

The analysts—the cheeky devils—decided to apply the test to The Economist’s covers. They…Continue reading

La cúpula del Santander no cree que la inminente formación de gobierno en España vaya a suponer el pistoletazo de salida a una segunda ronda de consolidación del mapa español, tal y como le gustaría al Banco de España para elevar la rentabilidad del sector. Leer

El consejero delegado de Santander aseguró que el impacto del Brexit a día de hoy en las cuentas del banco «es muy limitado». «Estamos recibiendo los análisis y ya para finales de año tendremos una idea del impacto que tendrá», señaló. Leer