March 2019 Calendar Kalnirnay

“Banking profitability is still under pressure,” the CEO of the ECB’s Sole Supervisory Mechanism (MUS), Ramón Quintana, recently told a financial forum in Madrid, warning that in some banks that profitability does not even cover the cost of capital – “and this is unsustainable,” he warned – and that March 2019 Calendar Kalnirnay unprofitable banks can not support growth. Falling profitability This lack of clarity in improving profitability is one of the reasons why all European banks accumulate very strong falls in the stock market so far this year.

 

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Another sector that is underweight in the stock market at both the national and community level is that of telcos, the other large sector affected by the dismantling of the maximum contribution bases. The great dilemma for companies in the sector is that this increase in costs will occur just at a time when they must again undertake large investments in infrastructure, mainly fiber optics and the fifth generation mobile network (5G).

 

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In fact, for the deployment of the latter the main operators of the country study shared installation plans, despite their technical difficulties, to achieve lower final bill. Executives from the main European multinationals, grouped in the ERT (European Round Table of Industralists), met yesterday in London with British Prime Minister Theresa May and her minister for Brexit, Dominic Raab, to urge them to reach an amicable agreement on the exit of the United Kingdom from the European Union.

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According to ABC, the businessmen warned May that the time is running out and “the absence of an agreement could seriously damage the future growth of both the British economy and that of the whole of the European Union”. They proposed, in this sense, the British “premier”, that if necessary extend the period of transition to avoid a traumatic rupture.

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Among those attending the meeting, held at 10.30 am yesterday at 10 Downing Street, there were three executives of Spanish companies with strong interests in the United Kingdom: Ignacio Galán, president of Iberdrola and member of the executive of the ERT; José María Álvarez-Pallete, president of Telefónica and Rafael del Pino, president of Ferrovial. Together with the Spanish executives, another ten responsible leaders were part of this business delegation.

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European companies such as Rolls-Royce, Azko-Nobel, E.On, Vodafrone , Saint-Gobain or Centrica, among others. During the course of the meeting, the delegation shared with Theresa May the vision of the big European companies on the challenges facing the European economy and, especially, on the Brexit. They explained to him that, in his opinion, the future relationship between the EU and the United Kingdom should be based on the free exchange of goods and a stable and fair regulatory framework.

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On the other hand, Theresa May and Dominic Raab informed the representatives of the ERT of the progress of the negotiations with the European Union. In particular, May stressed that she defends a proposal that avoids a hard border between Ireland and Northern Ireland and other conflicts Customs to promote the activity of companies. In addition, the “premier” said that an agreement has been reached with the European March 2019 Calendar Kalnirnay Union on 95% of the issues addressed and hoped to reach a “satisfactory agreement for all” that provides clarity to the business environment.

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