Fri. Apr 26th, 2019

The rise in the Minimum Wage already takes its toll on jobs, according to BBVA and four other news

The rise in the Minimum Wage already takes its toll on jobs, according to BBVA and four other news


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MadridUpdated:

1. BBVA warns that the rise of the SMI already takes away employment and that uncertainty will remove 2.2 billion to GDP. BBVA Research this morning has worsened its growth forecasts for 2019 to 2.2% and for 2020, to 1.9%, two and one tenths less respectively than its previous estimate. Of the two tenths of this year, one is due to the lower purchases of the Eurozone, but the other is born of political instability. In the latter case, the negative impact will reach 0.2 points of GDP according to the entity, that is, it subtracts 2,200 million euros of future growth to the activity.

2. German exports plummet in February. The German export data is key in the construction of the GDP data, so there were many views on this figure, which finally defeats the optimistic forecasts. German sales abroad during the month of February They have fallen 1.3% over the previous month, 2.8% when compared to February 2018, and the drop abounds in the already long list of indicators that speaks of a year of paralysis for the European engine. Analysts did not expect the fall to be more than 0.5% and the Federal Statistical Office.

3. Carlyle is made with between 30% and 40% of Cepsa for 4.275 million euros. Mubadala Investment Company (investment fund of Abu Dhabi 100% owner of Cepsa) today announced the signing of an agreement with the Carlyle group for the acquisition of «A significant majority stake in this oil company», which would be between 30% and 40% of the Spanish oil company. An operation that could amount to about 4,275 million euros. It will be completed by the end of this year.

4.Goldman Sachs maintains that Spain will grow 2.3% this year but warns against the excess of public debt. This entity in a report on the economies of Spain and Portugal, has taken the decision of maintain your growth forecast for Spain by 2019 at 2.3% and to assume the forecasts of the European Commission for Portugal (1.8% for this year).

5. The most novel points to take into account for the declaration of income. The 2018-2019 Income campaign has started with several new features. According to estimates, one out of every four income tax returns will be returned this year due to the flood of tax changes that will benefit families, low incomes and fathers and mothers who paid for their benefits. Along with these fiscal winks, that will trigger the returns in 454 million euros to 10,468 million for 14,314 million respondents, that is, each one will receive 731 euros on average.

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