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☆ I chose Europe over the US for my startup. The Silicon Valley startup benchmark is unparalleled, but I still prefer Berlin.
▼ + stars: | 2024-11-11 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

Ivan Maryasin founded Monite after moving from Silicon Valley to Berlin. Here's how its startup ecosystem compares to Silicon Valley. It's hard to find people with the same values or who'll know what you're talking about when you say, "Silicon Valley benchmark." AdvertisementI like living in Europe, but wouldn't rule out returning to AmericaMost people in Silicon Valley are focused on startups and innovation. If you're all about work and want to focus 24/7, Silicon Valley is the place to be.

Persons: Ivan Maryasin, —, I'd, that's, I've Organizations: Service, Hult International Business School, San Francisco, EU, LinkedIn, Facebook, MIT, Harvard, Business Locations: Silicon Valley, Berlin, Germany, Russia, Massachusetts, America, Moscow, Europe, it's, Zurich, Barcelona, London, San Francisco, California, Monite, Silicon

☆ Europe cannot finance Ukraine war if Trump pulls U.S. out of the conflict, Hungary's Orban warns
▼ + stars: | 2024-11-08 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Hungarian Prime Minister Viktor Orban attends ADF Talks as part of the Antalya Diplomacy Forum (ADF) at NEST Congress and Exhibition Center in Antalya, Turkiye on March 01, 2024. Europe alone cannot shoulder the financial strain of supporting Ukraine against the ongoing Russian invasion, Hungarian leader Viktor Orban said Friday, warning that closely-allied President-elect Donald Trump will likely steer Washington out of the conflict. "Europe alone cannot finance this war. He is a person who hates war, a real businessman who thinks that life and things go well when there is no war." On Thursday, Slovakian Prime Minister Robert Fico — whose country heavily relies on Russian hydrocarbons — questioned the European funding agenda.

Persons: Viktor Orban, Donald Trump, Orban, Kamala Harris, Robert Fico — Organizations: Antalya Diplomacy, Exhibition Center, Google, Trump, White, U.S, EU, Kiel Institute of, European Investment Bank, European Commission, Slovakian Locations: Antalya, Turkiye, Europe, Ukraine, Washington, Budapest

☆ The U.S. election is a make-or-break moment for aid to Ukraine
▼ + stars: | 2024-11-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +10 min

Kevin Lamarque | ReutersTensions are likely running high in Kyiv ahead of Tuesday's presidential election in the U.S. — a vote that could make or break ongoing aid for Ukraine. Officials in Kyiv say the election is being watched closely, amid concerns that future aid could be cut. In the week before the presidential election, Western officials were reported as saying that a Harris administration would likely struggle to push significant aid for Ukraine through Congress. A win by Donald Trump could see him placing a phone call to Russian President Vladimir Putin as early as 6 November. Then President Donald Trump and Russian President Vladimir Putin at a joint press conference after their summit on July 16, 2018, in Helsinki, Finland.

Persons: Volodymyr Zelenskiy, Kamala Harris, Kevin Lamarque, —, Donald Trump, Joe Biden, It's, Trump, it's, Yuriy Sak, J.D, Vance, JD Vance, Carlos Osorio, Putin, Harris, Timothy Ash, Reuters Ash, Ash, Tim Willasey, Vladimir Putin, Chris McGrath Organizations: U.S, White, Reuters, NBC News, Republican, Democrats, NATO, Russia, Ukrainian, CNBC, Anadolu, Getty, Kiel Institute of, European Investment Bank, European Commission, Republicans, Kyiv, Reuters Trump, Berenberg Bank, Berenberg, Washington, Congress, Trump, Ukraine, BlueBay Asset Management, Democratic, Royal United Services Institute Locations: Washington , U.S, Kyiv, U.S, Ukraine, United States of America, United States, America, Russia, Toretsk, Donetsk, Donbas, Moscow, St, Cloud , Minnesota, Europe, Belgian, Helsinki, Finland

☆ IMF's Kammer: We see more caution for European investment next year
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIMF's Kammer: We see more caution for European investment next yearAlfred Kammer, director of the European Department at IMF, speaks to CNBC's Karen Tso.

Persons: Alfred Kammer, Karen Tso Organizations: European Department, IMF

☆ Beware, Elon Musk — BYD just took its next step toward world domination
▼ + stars: | 2024-07-09 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Business Insider contacted BYD for comment but didn't immediately hear back. Turkey is part of the EU's Customs Union, and any BYD cars manufactured there could avoid the 17.4% additional tariff the EU slapped on BYD vehicles imported from China. Plans by Chinese EV giants BYD, MG, and Chery to build factories in Mexico have sparked concern among US officials over fears they could be used as a "backdoor" into the US market.

Persons: —, Elon, Mehmet Fatih, BYD, didn't, It's, Philip Nothard, Nothard, Elon Musk, Tesla Organizations: Service, Business, Union, EV, EU's Customs Union, BYD, Chery, Cox Automotive Locations: Turkey, Europe, China, Mexico, Germany

☆ In the struggle against pollution, the humble mushroom could prove to be a valuable tool
▼ + stars: | 2024-05-31 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +5 min

With that in mind, the researchers decided to test out how effective the leftover mushroom substrate could be in removing contaminating substances from water. A 2023 report by the European Union's lending arm, the European Investment Bank (EIB), highlighted that conventional wastewater treatment methods do not fully remove micropollutants. In April, EU lawmakers approved new measures for urban wastewater treatment. In New Zealand, researchers have used fungi to treat soil contaminated by the pesticide PCP. "For example, integrating an extra treatment step into an existing wastewater treatment system requires an upfront investment to change the existing infrastructure," she said.

Persons: van Brenk, hadn't, Van Brenk, Diane Purchase, Micaela Mafla Endara, Endara Organizations: Getty, Research, Utrecht University, CNBC, Brunel University London, University of Portsmouth, European Investment Bank, Middlesex University, Lund University Locations: Netherlands, Germany, England, Sonoma County , California, New Zealand, Cleveland , Ohio, Sweden

☆ Poland to spend around $2.5 billion on securing eastern border
▼ + stars: | 2024-05-18 | by ( ) www.cnbc.com time to read: +2 min

Donald Tusk, Prime Minister of Poland, speaks during a press conference where Polish PM announces resignation of four ministers and nominees for the future positions in Chancellery of Polish Prime Minister in Warsaw, Poland on MAy 10, 2024. Poland will invest 10 billion zlotys ($2.55 billion) in a program to secure its eastern border, the prime minister said on Saturday, in a bid to bolster its defenses against what it says is a rising threat from Russia and Belarus. "We have decided to invest 10 billion zlotys in our security, and above all in a secure eastern border," Prime Minister Donald Tusk told a news conference. "We are starting a major project to build a secure border, including a system of fortifications as well as landscaping and environmental decisions that will make this border impossible to pass for a potential enemy." Tusk had announced plans to strengthen the eastern border earlier in May, but without giving details.

Persons: Donald Tusk, Tusk Organizations: Polish, European Union, Minsk, European Investment Bank, Sky Locations: Poland, Warsaw, Russia, Belarus, Poland's, Minsk, Russian, Europe, Ukraine, Moscow, Belarusian, Germany

☆ How BlackRock’s Rick Rieder would reimagine the 60/40 portfolio with today’s higher rates
▼ + stars: | 2024-04-19 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

The balanced portfolio – which typically allocates 60% of assets toward stocks and 40% to fixed income –could use a rethink in today's higher rate environment, according to BlackRock's Rick Rieder. "For 30 years, fixed income was a hedge," said Rieder, the asset manager's global chief investment officer of fixed income, in a phone call with CNBC. A 60/30/10 split Rather than a 60/40 split toward equities and fixed income, Rieder said he would consider a 60/30/10 allocation if he had to build a balanced portfolio. That is, he'd maintain a 60% allocation toward stocks, but keep 30% of the portfolio in "higher income, shorter duration" assets. In addition to AAA-rated CLOs, Rieder also likes European investment-grade credit as a U.S. dollar investor.

Persons: BlackRock's Rick Rieder, Jerome Powell, Rieder, Jared Woodard Organizations: CNBC, Federal Reserve, AAA, Bank of, CLOs Locations: Central

☆ Defense spending must not detract from climate-driven initiatives, says EIB's Calviño
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDefense spending must not detract from climate-driven initiatives, says EIB's CalviñoNadia Calviño, president of the European Investment Bank, discusses her mandate for the organization and explains how the bank plans to support European security and defense.

Persons: EIB's, Nadia Calviño Organizations: Email Defense, European Investment Bank

☆ Inside the latest drama at Goldman Sachs that reportedly has some partners up in arms
▼ + stars: | 2024-02-22 | by ( Reed Alexander | ) www.businessinsider.com time to read: +4 min

AdvertisementThe drama playing out within the upper ranks of Goldman Sachs is continuing to unfold, and CEO David Solomon's troubles with senior partners don't appear to be over yet. (Garcia's co-head of European investment banking, Anthony Gutman, is also said to have been named to the committee.) Bloomberg reported this week that Beth Hammack — a longtime Goldman partner, co-head of the global financial group, member of the management committee, and former CEO of Goldman Sachs Bank USA — is set to step down. And when Esposito broke the news last month of his imminent departure in a note to partners and clients, he wrote, wistfully, that he planned to "bleed Goldman Sachs forever." Are you a Goldman Sachs or Wall Street insider?

Persons: Goldman Sachs, David Solomon's, who's, Mark Sorrell, Gonzalo Garcia, Joshua Franklin, Arash Massoudi, Kim Posnett, Sorrell —, Sir Martin Sorrell, Stephan Feldgoise, Anthony Gutman, Sorrell, Gutman, Garcia, Goldman, Alison Mass, George Lee, Jim Esposito —, —, Solomon, Adebayo, Beth Hammack —, Esposito, wistfully, Reed Alexander Organizations: Financial, IB, Reading, Goldman, Bloomberg, Goldman Sachs Bank Locations: Miami

☆ Finland's New President Sees No Limit to NATO Ties, Ukraine Support
▼ + stars: | 2024-02-11 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

He said he agreed with his predecessor Sauli Niinisto "who said that we need a more European NATO". He would be "a Western president in many ways" and lean towards the United States, Britain and Nordic neighbours when it came to setting the tone of foreign policy, he told Reuters. "My starting point is, paraphrasing (European Central Bank President) Mario Draghi, whatever it takes," Stubb said. During his election campaign Stubb said Finland should be an active NATO member and seek to have some NATO troops stationed on its territory. Stubb is a keen amateur athlete and triathlon champion - though he has said he will cut down on sport once he becomes Finland's 13th president.

Persons: Anne Kauranen, Alexander Stubb, Sauli Niinisto, Mario Draghi, Stubb, Johanna Vuorelma, Vuorelma, Markku Jokisipila, Suzanne Innes, Andrew Heavens Organizations: Anne Kauranen HELSINKI, NATO, Reuters, European Investment Bank, European University Institute, Nordic, Ukraine, Central Bank, Helsinki, University of Helsinki, Finland's Centre, Parliamentary Studies, National Coalition Party Locations: Ukraine, Russia, Finland, Europe, Florence, United States, Britain, British

☆ There will be a lot of investment needed for the reconstruction of Ukraine, says EIB President
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere will be a lot of investment needed for the reconstruction of Ukraine, says EIB PresidentNadia Calviño, president of the EIB, discusses European investment and the region's role in the global economy.

Persons: Nadia Calviño Locations: Ukraine

☆ Spanish economist picked to lead the EU's massive lending unit lays out her priorities
▼ + stars: | 2023-12-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Nadia Calviño, Spain's finance minister and deputy prime minister, was appointed head of the European Investment Bank Friday — in what has been touted as a boost for Spanish influence within the European Union. Known as the EU's lending arm it approved some 75.86 billion euros ($81.6 billion) in new projects in 2022. "We also have a European Union with 27 member states, and it is a complex construction. Calviño said that Spain had launched a "massive" investment program using funds from the NextGenerationEU pandemic recovery instrument. So I do think there is a chance for us to crowd in private investment if we do things right," she said.

Persons: Nadia Calviño, Calviño, CNBC's Organizations: European Investment Bank, European Union Locations: Ukraine, Union, Spain

☆ SocGen issues 10-mln-euro digital green bond on a public blockchain
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

A logo of French bank Societe Generale is seen on the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Dec 4 (Reuters) - Societe Generale , France's third-biggest listed bank, said on Monday it issued its first so-called digital green bond on a public blockchain, as the lender seeks to build expertise in crypto services. AXA IM made the investment in the digital green bond by acquiring and then spending 5 million euros worth of SocGen's euro-denominated stablecoin, EUR CoinVertible (EURCV). SocGen's bond issuance, made on the Ethereum public blockchain, follows the launch last week by the European Investment Bank (EIB) of its second euro-denominated digital bond on a private blockchain, in partnership with Goldman Sachs Bank Europe, Santander and SocGen. SocGen's digital green bond issuance was made via its crypto unit, Forge.

Persons: Gonzalo Fuentes, Generali, SocGen, Blockchain, Mathieu Rosemain, Bernadette Baum Organizations: Societe Generale, La Defense, REUTERS, Rights, AXA Investment, AXA, Generali Investments, European Investment Bank, Goldman Sachs Bank Europe, SocGen, Thomson Locations: La, Paris, France, Santander

☆ Top development banks, funds set up 'debt-for-nature' task force
▼ + stars: | 2023-12-04 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

[1/2] Fishermen go out to sea after Ecuador's goverment expanded the protected marine area around the Galapagos Islands, Ecuador January 24, 2022. REUTERS/Santiago Arcos Acquire Licensing RightsLONDON, Dec 4 (Reuters) - A consortium of top multilateral development banks (MDB) and climate funds launched a global "task force" on Monday to scale up the number and size of 'debt-for-nature' swaps that countries can do. It will initially be led by the Inter-American Development Bank (IDB) and the U.S. International Development Finance Corporation (DFC), lenders which between them have been involved in all the recent swaps, also including Barbados and Gabon. The Asian Development Bank, the African Development Bank, France's Agence Française de Développement, and the European Investment Bank will also be part of the task force, as well as the Green Climate Fund and the Global Environment Facility. Development banks play a particularly important role in debt-for-nature swaps because they provide the credit guarantees and/or political risk insurance that make them viable.

Persons: goverment, Santiago Arcos, Ilan Goldfajn, Scott Nathan, Marc Jones, Kirsten Donovan Organizations: REUTERS, Santiago, Reuters, Inter, American Development Bank, U.S . International Development Finance Corporation, Asian Development Bank, African Development Bank, France's Agence Française, European Investment Bank, Climate Fund, Global, Thomson Locations: Ecuador, Belize, Barbados, Gabon

Summary Ten leading development banks sign joint statementTo deepen collaboration across multiple themesNo mention of phasing out fossil fuel financingDUBAI, Dec 3 (Reuters) - Ten of the world's top development banks pledged to step up their climate efforts at the COP28 summit, yet failed to say anything about halting financing for fossil fuel projects, a document seen by Reuters showed. In a statement to be announced at the event in Dubai, the group, including the World Bank and regional peers, said the window of opportunity to secure a liveable planet was "rapidly closing". A new, joint Long-term Strategies Program, hosted by the World Bank, would coordinate support to help countries and sub-national entities develop plans around issues including decarbonisation and climate resilience. The group also pledged to help countries set up platforms to encourage a "collectively reinforcing combination" of support including around policy reform, finance and technical assistance. The banks planned to scale up finance to help countries adapt to the impacts of climate change, including through boosting support for disaster risk management, disaster preparedness and capacity building.

Persons: Antonio Guterres, Bernadette Baum Organizations: Reuters, World Bank, United Nations, European Investment Bank, Thomson Locations: DUBAI, Dubai, Glasgow

☆ Exclusive: World's top MDBs to launch debt-for-nature swap 'task force' - sources
▼ + stars: | 2023-11-30 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

The task force creation is the most significant step so far in showing that the global club of multilateral lenders, which between them have trillions of dollars worth of firepower, will significantly ramp up their support for these deals. Four sources involved in the plans, which are expected to be announced at the COP summit's 'finance day' on Monday, say the group will formally be called the "Task Force on Sustainability-linked Sovereign Financing for Nature and Climate". It will initially be chaired by the Inter-American Development Bank (IDB) and U.S. government's Development Finance Institution (DFC), said three of the sources with direct knowledge of the matter. Both lenders have been involved in all the recent swaps which have also included Barbados and Gabon. At their simplest, the swaps work by buying up a country's bonds, often at a discount, and then replacing them with cheaper eco-labelled ones that come with the special MDB guarantees.

Persons: Chico Mendes, Amanda Perobelli, MDBs, Marc Jones, Christina Fincher Organizations: Chico, Chico Mendes Institute for Biodiversity Conservation, Institute for, Environment, Resources, REUTERS, Reuters, Force, Sustainability, Nature, Inter, American Development Bank, government's Development Finance, World Bank, European Investment Bank, Development Bank, Asian Development Bank, ADB, Infrastructure Development Bank, Reuters Graphics, Conservancy, Thomson Locations: Pocone, Mato Grosso, Brazil, Belize, Barbados, Gabon, Beijing, U.S, Sri Lanka, Zambia, Kenya, Tanzania, Colombia, Ecuador

SummaryCompanies European Investment Bank poll of 30,000 people globally60% of EU citizens back paying compensationU.S. support at 63%, China at 74%, Japan at 72%SINGAPORE, Nov 27 (Reuters) - Citizens in Europe, the United States, China and Japan believe their countries should compensate poorer nations to help address the impact of climate change, a European Investment Bank poll of more than 30,000 people shared with Reuters showed. The fifth annual climate survey conducted by the bank revealed a broad global consensus to fund the fight against climate change, even if it means higher taxes and the elimination of fossil fuel subsidies. "The latest EIB Climate Survey underlines people's profound awareness of climate change and their commitment to tackle it head on," said EIB Vice-President Ambroise Fayolle. [1/2]Children are seen during climate march prior to the opening session of the COP23 UN Climate Change Conference 2017 in Bonn, Germany, November 6, 2017. Respondents from around the world ranked climate change as one of the world's three biggest challenges, along with the rising cost of living and income equality.

Persons: Ambroise Fayolle, Fayolle, Wolfgang Rattay, Simon Jessop, Franklin Paul Organizations: European Investment Bank, Reuters, REUTERS, European Union, United, Franklin Paul Our, Thomson Locations: China, Japan, SINGAPORE, Europe, United States, Bonn, Germany, Dubai, COP28, India

ROME, Nov 21 (Reuters) - Italy is considering candidates to take the helm of state lender Cassa Depositi e Prestiti (CDP), three sources close to the matter told Reuters, as part of a wider shake-up of state-controlled companies. State-backed investor CDP, founded 173 years ago, plays a key role in keeping strategic assets in national hands. Asked to comment on a change of CEO at CDP, Meloni's office said any rumours of a replacement for Scannapieco were unfounded. Rome is expected to decide on the top management of CDP in March at the latest, immediately after the approval of this year's CDP financial accounts, the sources said. The state lender invests savings made by Italians through the national post office network Poste Italiane.

Persons: Dario Scannapieco, Fincantieri, Giorgia, Scannapieco, Antonino Turicchi, Stefano Donnarumma, Mario Draghi, Elvira Pollina, Susan Fenton Organizations: Eni, ITA Airways, European Investment Bank, Telecom Italia's, Thomson Locations: Italy, State, Rome, EU, Milan

☆ Spanish Prime Minister Pedro Sanchez's new cabinet
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +6 min

Spain's Prime Minister Pedro Sanchez takes the oath of office during a ceremony at Zarzuela Palace in Madrid, Spain November 17, 2023. Andres Ballesteros/Pool via REUTERS Acquire Licensing RightsNov 20 (Reuters) - Spanish Prime Minister Pedro Sanchez on Monday announced his new cabinet, keeping the same number of 22 ministers, 12 women and 10 men, despite reshuffling some of their portfolios. SOCIALIST MINISTERS:NADIA CALVINO - ECONOMYCalvino remains as Sanchez's first deputy prime minister and top economic expert. FELIX BOLANOS - JUSTICEBolanos saw his profile boosted by heightened media exposure while acting as Sanchez's de facto cabinet chief. SIRA REGO - CHILDREN AND YOUTHThe second-in-command and main spokesperson for the United Left, she became an MEP in 2019.

Persons: Pedro Sanchez, Andres Ballesteros, NADIA CALVINO, Calvino, Sanchez's, TERESA RIBERA, Ribera, MARIA JESUS MONTERO, Sanchez, Montero, FELIX BOLANOS, JUSTICE Bolanos, JOSE MANUEL ALBARES, Arancha Gonzalez Laya, MARGARITA ROBLES, Robles, FERNANDO GRANDE, Miquel Iceta, PILAR ALEGRIA, Alegria, Isabel Rodriguez, ISABEL RODRIGUEZ, Rodriguez, JOSE LUIS ESCRIVA, DIANA MORANT, LUIS PLANAS, Puente, Alberto Nunez Feijoo, JORDI HEREU, Hereu, Hector Gomez, ANGEL VICTOR TORRES, Torres, ELMA SAIZ, Escriva, Redondo, Podemos party's Irene Montero, SUMAR, YOLANDA DIAZ, LABOUR Diaz, Sumar, MONICA GARCIA, Garcia, Isabel Diez Ayuso, ERNEST URTASUN, PABLO BUSTINDUY, Bustinduy, Alberto Garzon, Ione Belarra, SIRA REGO, David Latona, Aislinn Laing, Grant McCool Organizations: Spain's, REUTERS Acquire, Spanish, Monday, European Investment Bank, JUSTICE, High, Culture, Social Security, Universities, Democratic, Socialist, ANA REDONDO, LABOUR, Mas Madrid, Greens, European Free Alliance, Consumer Affairs, United Left, Thomson Locations: Zarzuela, Madrid, Spain, Dubai, France, Morocco, Ukraine, Melilla, Gandia, Valladolid, Barcelona, Canary, Bolanos, Pamplona, Navarre, Mas, Podemos, Gaza, SIRA, Israel

Spain's Prime Minister Pedro Sanchez takes the oath of office during a ceremony at Zarzuela Palace in Madrid, Spain November 17, 2023. Calvino, who is the frontrunner for the top job at the European Investment Bank scheduled to be announced at the end of the year, will also keep her position as first deputy prime minister, Sanchez said in a televised statement. Given the anticipated difficulty of passing laws with a minority government, Budget Minister Maria Jesus Montero will be promoted to be one of four deputy prime ministers. His four deputy prime ministers are all female. Junior coalition partner Sumar got five portfolios, keeping its share of power within the cabinet.

Persons: Pedro Sanchez, Andres Ballesteros, Nadia Calvino, Calvino, Sanchez, Teresa Ribera, Maria Jesus Montero, Jose Manuel Albares, Yolanda Diaz, Sumar, Felix Bolanos, Ana Redondo, Irene Montero, Ione Belarra, Belen Carreno, Inti, Aislinn Laing, Toby Chopra, Charlie Devereux, Ed Osmond, William Maclean Organizations: Spain's, Rights, Socialist, European Investment Bank, European, Energy, Labour, Socialists, Junior, Thomson Locations: Zarzuela, Madrid, Spain, Rights MADRID, Maria Jesus Montero ,, Sumar

☆ Spain’s Pedro Sanchez secures new term, ending four-month deadlock
▼ + stars: | 2023-11-16 | by ( ) edition.cnn.com time to read: +4 min

Reuters —Spain’s parliament voted to make Pedro Sanchez prime minister for another term on Thursday, ending a protracted deadlock after an inconclusive general election in July. Sanchez had 179 votes in favor and 171 against, with no abstentions. It also represents a remarkable turnaround for Sanchez, who six months ago felt compelled to call a snap election after his party performed poorly in regional elections. Pedro Sanchez (L) is congratulated by Partido Popular leader Alberto Nunez Feijoo after winning a parliamentary vote to elect Spain's next premier, at the Congress of Deputies in Madrid on November 16. Feijoo described Sanchez as being “subject to a monthly contract with separatists” to be able to govern.

Persons: Reuters —, Pedro Sanchez, Sanchez, Alberto Nunez Feijoo, Olaf Scholz, ” Scholz, “, Ursula von der Leyen, Volodymyr Zelensky, Rodrigo Jimenez, Javier, Vox, Santiago Abascal, Feijoo, Esteban Gonzalez Pons, ” Sanchez, Spain's, Javier Soriano, ”, Miriam Nogueras, Nadia Calvino Organizations: Reuters, Spanish Socialist Workers ’ Party, PSOE, People’s Party, EU, Ukrainian, Spanish Socialist Worker's Party, Deputies, European People’s Party, EPP, Partido Popular, Socialists, European Investment Bank Locations: Spain, Catalonia, Spanish, Madrid, Socialist

☆ Europe’s shrinking stash heralds economic trouble
▼ + stars: | 2023-11-14 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

But the interest they earned on their assets increased from 16 billion euros to 66 billion euros in the same period. As a result, euro zone firms’ net interest was negative 19 billion euros in the second quarter of 2023. These financial gains may have helped euro zone growth. A further 700 billion euros matures in 2026. Homeowners with mortgages, which account for around 27% of euro zone households, are yet to feel the brunt of higher rates.

Persons: That’s, Mathieu Savary, Gross, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, European Central Bank, Reuters Graphics Reuters, ECB, BCA Research, Oxford Economics, International Monetary Fund, Oxford, IMF, Thomson Locations: Oxford, Spain, Italy, France, Germany, United States, China

☆ Germany's Scholz backs Spain's Calvino for EIB presidency
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Susana Vera/ File Photo Acquire Licensing RightsFRANKFURT, Nov 11 (Reuters) - German Chancellor Olaf Scholz on Saturday backed the candidacy of Spanish acting Economy Minister Nadia Calvino for the post of president of the European Investment Bank (EIB). "I think she will be a very good president of the EIB," Scholz said in an address to a weekend congress of the Party of European Socialists (PES) in Malaga, Spain. He added that they had worked well together in the past when they headed their respective countries' finance ministries. The EIB is currently led by German Liberal Democratic Party (FDP) politician Werner Hoyer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Nadia Calvino, Susana Vera, Olaf Scholz, Scholz, Werner Hoyer, Andreas Rinke, Vera Eckert, Kirsten Donovan Organizations: Monetary, Financial, International Monetary Fund, World Bank, REUTERS, Rights, Saturday, European Investment Bank, Party of European Socialists, European Union, Berlin, German Liberal Democratic Party, Thomson, Reuters Locations: Marrakech, Morocco, Malaga, Spain, Germany, France

☆ China Deal Slump Sends Bankers’ Fees to Decade Low
▼ + stars: | 2023-11-07 | by ( Dave Sebastian | Rebecca Feng | ) www.wsj.com time to read: 1 min

China has become a losing proposition for Wall Street firms, forcing a reassessment of their investment-banking prospects in Hong Kong. American and European investment banks prospered in the Asian financial hub over the past decade by helping hundreds of Chinese companies raise money from international stock and bond sales. They also profited from advising on cross-border acquisitions and investments during China’s prepandemic economic boom. The money train made Wall Street an advocate of engagement with China, even as political tensions grew between Washington and Beijing.

Organizations: Wall Street Locations: China, Hong Kong ., Washington, Beijing

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