Sun. Apr 21st, 2019

The hard testimony of Francisco González (BBVA) about the IPO of Bankia and four other news

The hard testimony of Francisco González (BBVA) about the IPO of Bankia and four other news

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1. Francisco González (BBVA) admits that the Government and the Bank of Spain put pressure on Bankia's stock market flotation. Francisco González has explained for the first time in detail the decision of BBVA not to invest in the IPO of Bankia in July 2011, against the decision of the rest of national banks, among them Santander, and other companies such as Iberdrola that did support the public offering of subscription (ops) by buying shares of the fourth entity in the country.

2. Santander is committed to cutting its expenses by 1.2 billion a year. This would allow the first Spanish bank to improve its efficiency ratio of 47% with closed in 2018 to a fork between 42% and 45%. Of those 1,200 million in savings, 1,000 will come from Europe, and much of them from the Popular integration, which this year will involve an ERE that could affect about 3,000 employees and the closure of part of the network of offices.

3. The Constitutional will decide if the municipal capital gain is confiscatory in cases of profits. The Plenary Session of the Constitutional Court has admitted for processing a question of unconstitutionality raised by the Contentious-Administrative Court number 32 of Madrid. As the car picks up with the question, to which ABC has had access, the TC will decide if the tribute is "confiscatory" in certain cases of profits, something unprecedented until now.

4. Globalia signs an agreement with Israel to promote innovation in the tourism industry. The group has highlighted that, thanks to this agreement, Israel's international status in terms of technological development and the exhaustive knowledge that GlobaliaIt has the tourist market, which translates into a greater interrelation of the group with the travel tech ecosystem of Israel.

5. Supersol raises an ERE for 400 people and closes 21 stores after years of accumulated losses. The managers of the Supermarket chain supersol raises, after accumulating years of losses, the closing of 21 stores and the opening of a file of regulation of employment (ERE) with more than 400 people affected, according to union sources. A spokesman for the company - owned by Lithuanian Maxima - has confirmed the beginning of a process to "clean up" the group after the losses harvested in recent years, although it has declined to give concrete figures on dismissals or closures.


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