April 16, 2021

The stock market suffers its biggest fall since Brexit by the coronavirus and other economic news


Madrid

Updated:

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1.-The stock market suffers its biggest fall from Brexit by the coronavirus. The Spanish Stock Exchange begins the week with a 3.61% collapse at this time for fear of the rapid spread of the coronavirus outside of China, in regions such as South Korea, Italy, and the Middle East. This is the biggest drop since last June 24, 2016, when Brexit results were known. The Ibex has started the day on Mondaylosing the height of 9,600 points, when last week he reached 10,000, and now he struggles not to lose 9,500. All values ​​are listed below, although the decrease in IAG stands out, which lost 8.43%; Melia Hoteles, 7.05% and ArcelorMittal, 7.86%.

2.-Companies still do not know the contribution bases of 2020 due to ministerial chaos. The decision of Pedro Sánchez to detach the areas of Social Security and Migration from Work and compose with them a new ministry was studied in detail by the President of the Government with the objective of safeguard the budget of public pensions, an invoice exceeding 150,000 million euros annually. Sánchez left this bill in socialist hands and ceded Work to his ally in the Government, who appointed Yolanda Díaz as headline. A decision that in practice has generated a chaos of management in the department headed by José Luis Escrivá, a renowned technician from the Independent Fiscal Authority (Airef), who is still pending to complete his team in a troubled ministry.

3.-Exports of olive oil to the US 60% sink by tariffs. Spanish exports of olive oil to the United States sank during the month of December more than 60%, up to 1,730 tons, harmed by the tariff imposed by the Trump Administration. This is what they have warned this Monday from Agro-food Cooperatives, whose officials have pointed out that official data reveals that such a low figure was not being sold to the US. in a month of December since 2008.

4.-The royal decree that will limit the publicity of the game will take effect on July 1. The Ministry of Consumption has released on Monday the royal decree that will regulate the publicity of the game with more than 100 measures aimed at limiting, but not prohibiting advertisements from the sector. The second transitory provision states that the royal decree will enter into force on July 1, 2020 and that the operators will be given a period of three months to adapt the contracts in force. Sources of the Ministry of Consumption indicated that the objective is that the rule is ready to be approved during the next summer so that it can be applied before the new football season begins.

5.-The PNV already assumes that it will collect fees and pay pensions. The Government defends that the single pension fund is not in danger, insists that the transfer of Social Security economic management to the Basque Country has yet to be given, that there is nothing decided. The opposite of the PNV. With an eye on achieving Basque Social Security it already takes for granted that the transfer of Sánchez will allow this region to collect social contributions and pay pensions, in addition to putting the seal of the Basque Government on all communications that are intended for retirees, in addition to controlling officials and agreeing ownership of real estate. A countdown to achieve Basque Social Security, the objective for forty years.

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