DIRS.INFO The most relevant business & tech news

Strengthening the case for another 75 basis point increase, German inflation jumped to 10.9% this month, far beyond expectations for a reading of 10%. "There is no easing in sight, and next year the inflation rate is only likely to fall because energy prices are unlikely to rise again as strongly as this year, partly due to government intervention," Commerzbank economist Ralph Solveen said of the German inflation figures. While few governors ventured to estimate where interest rate hikes could end, de Cos said that models suggest a significantly lower terminal rate than markets now expect. "On the basis of current information, the median terminal rate value across models is at 2.25%-2.50%," de Cos said. Rate hike talk is intensifying even as recession fears rise.

☆ Santander approves interim dividend of 0.0583 euros per share against 2022 results
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

MADRID, Sept 27 (Reuters) - Spain's Santander (SAN.MC) board approved on Tuesday an interim cash dividend against 2022 results of 0.0583 euro per share, equivalent to around 20% of the group's underlying profit in the first half of 2022, the lender said. The cash dividend represents an increase of around 20% compared with the interim 0.0485 euro per share paid against 2021 results. Santander's dividend policy consists of a remuneration target of around 40% of the group's underlying profit, split in equal parts in cash dividend payments and share buybacks. Register now for FREE unlimited access to Reuters.com RegisterThe interim dividend would be paid from Nov. 2 and the last day to trade shares with a right to receive the interim dividend will be Oct. 28. The board also agreed to implement a share repurchase programme equivalent to about 20% of the group's underlying profit in the first half of 2022 or around 979 million euros ($939.55 million).

The Banco Sabadell logo can be seen behind leaves on top of a building outside Madrid, Spain, April 13, 2016. REUTERS/Andrea Comas/File PhotoLONDON/MADRID, Sept 21 (Reuters) - Spanish bank Sabadell (SABE.MC) has received indicative bids from France's Worldline (WLN.PA), Italy's Nexi (NEXII.MI) and U.S. firm Fiserv (FISV.O) for its payments arm, with a deal valued at up to 400 million euros ($393.64 million), three sources said. Register now for FREE unlimited access to Reuters.com RegisterSabadell, Worldline, Nexi and Fiserv declined to comment. In Spain, Sabadell has a strong presence on the payments front and accounts for close to 16.3% of the country's overall revenue generated at the point of sale (POS). Its payments arm, which is mainly focused on consumer lending, has core earnings of about 25-30 million euros, one of the sources said.

Luis de Guindos, vice-president of the European Central Bank, speaks during a Reuters Breakingviews event in New York, U.S., April 25, 2019. Register now for FREE unlimited access to Reuters.com RegisterEven though higher interest rates are boosting banks' financial margins, De Guindos said that a banking levy right now could have negative side-effects. "We could find ourselves in a situation that requires higher provisions" from banks to cope with higher loan losses. "We don't have to look just at the short term, let's look beyond it," De Guindos said, warning of the risks to the companies most affected by the energy crunch. The Spanish government wants the legislation approved before the end of the year.

☆ Santander hires law firm to investigate bankers' strip club visit
▼ + stars: | 2022-09-19 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterMADRID, Sept 20 (Reuters) - Spanish bank Santander (SAN.MC) hired a law firm to investigate a whistleblower report saying a group of bankers visited a strip club after a day of company meetings and pressured younger colleagues to join them, a source close to the matter said. Santander responded by hiring U.S. law firm Gibson Dunn to conduct an internal investigation over the summer, Reuters' source said. The law firm interviewed several people involved in the night out and concluded there had not been explicit pressure exerted on junior staff members, the source added. The Financial Times reported that no one has been dismissed as yet, but one manager has been disciplined. A Gibson Dunn representative was not immediately available for comment and the UK's Financial Conduct Authority said it is unable to comment on individual cases.

☆ Further interest rate hikes will depend on data, ECB's de Guindos says
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterVice-President of the European Central Bank (ECB) Luis de Guindos gives a statement during the second day of the Informal Meeting of EU Ministers for Economics and Financial Affairs in Berlin, Germany September 12, 2020. Odd Andersen/Pool via REUTERSMADRID, Sept 19 (Reuters) - The exact number of further interest rate increases by the European Central Bank will depend on upcoming macroeconomic data, ECB Vice-president Luis de Guindos said on Monday. read more"Monetary policy always tries to act to fight inflation, that will have an effect on consumer spending and investment by companies...and further interest rates increases will depend on economic data," de Guindos told a financial event in Madrid. "Inflation is the biggest pain for European population," he added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jesús Aguado and Emma Pinedo, editing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Jesús Aguado"

6 mentions found