The BBVA-Sabadell Merger: A Risk for Employees and Citizens
The proposed merger between BBVA and Sabadell, Spain’s third and fourth banks, raises serious concerns for employees and society in general. Duplication of jobs and overlapping branches will lead to office closures and mass layoffs.
According to experts, the merger could affect around 4,000 employees. Furthermore, reduced competition in the banking market will lead to more expensive products and fewer options for customers.
Sareb: Millionaire Losses and Public Debt
Sareb, the ‘bad bank’ created to manage failed real estate assets after the 2008 crisis, is accumulating multimillion-dollar losses and a capital hole of 14.6 billion euros. This debt has been assumed by the State, which represents a burden for all Spaniards.
Union Mobilizations for Employment and Wages
UGT and CCOO have called for massive mobilizations for May Day, demanding full employment, reduction of working hours and better salaries. Unions have also called for the defense of democratic values after the recent political crisis.
The OECD Denies the ‘Fiscal Hell’ in Spain
The Organization for Economic Cooperation and Development (OECD) has denied the existence of a ‘fiscal hell’ in Spain. The data shows that the tax burden on wages is lower than in other European countries and that labor costs are lower than the OECD average.
The Bank of Spain Warns about the Reduction of Working Hours
The governor of the Bank of Spain, Pablo Hernández de Cos, has expressed his concern about the proposal to reduce working hours. He argues it could hamper job growth and productivity, especially in certain sectors.
Pedestrianization of Cities: A Path to Sustainability
Janette Sadik-Khan, former head of New York Transportation, advocates pedestrianization of streets to reduce pollution and return cities to the people. She maintains that traffic-filled streets do not make a city large or economically competitive.
Young people without a real estate cushion or savings
A report from the Bank of Spain reveals that people under 40 have much lower financial wealth than their parents at the same age. Low wages and high housing costs, especially rent, hinder wealth creation and the ability to weather economic shocks.
Ecopostureo: A Trap for Consumers
The fight against climate change has generated big business, but it has also led to the proliferation of hoaxes and deceptive practices. Consumers should be alert to false claims and marketing strategies that seek to exploit their environmental concerns.
Europe Triples US Gas Imports Despite Bans on Fracking
Europe has tripled its gas imports from the United States in the last two years, despite the fact that most of this gas is obtained through fracking, a technique banned in many European countries. This dependence on American fossil fuels raises concerns about energy security and environmental impact.
Philips Pays Millions to Settle Defective Respirator Litigation
Philips has agreed to pay $1.1 billion to settle litigation in the United States over the sale of apnea respirators with defective components. The sound-deadening foam in respirators could degrade and release carcinogenic substances.
Solar ‘Boom’ Surpasses Summer Electricity Generation
The massive deployment of solar photovoltaics in recent years has led to solar electricity generation currently exceeding that of summer 2020, even in months like January.
Saudi Arabia: ‘Sportwashing’ and Human Rights Violations
Saudi Arabia uses petrodollars to sign stars and organize high-profile sports competitions, but this ‘sportwashing’ strategy should not hide the serious human rights violations it commits, especially against women.
Multinationals Recover Pre-Pandemic Profits
Multinationals have recovered their pre-pandemic profit levels, but the average tax rate of 14.4% remains below the global minimum of 15%. This tax evasion represents a loss of revenue for governments and a disproportionate burden on citizens.
Ribera Maintains the Increase in Nuclear Rates
The Spanish Government has maintained its plan to apply a new rate to nuclear power plants starting July 1, despite opposition from nuclear employers. This fee aims to offset the costs of managing nuclear waste and guarantee a more responsible use of this energy source.