Spain’s Q1 unemployment jumps to record 27.2 pct
Spain’s National Statistics Institute says the country’s unemployment rate shot up to a record 27.2 percent in the first quarter of 2013.
Spain’s National Statistics Institute says the country’s unemployment rate shot up to a record 27.2 percent in the first quarter of 2013.
Amid financial difficulties in Europe, Spanish companies are “betting” on the Philippines not only for profit but also for social returns, Spanish Ambassador to Manila Jorge Domecq told the Inquirer in an interview.
Taipan Andrew Tan has taken a crucial step toward overseas expansion with the acquisition by his beverage unit Emperador Distillers Inc. of Bodega San Bruno S.A., a brandy company based in Jerez, Spain.
Spain defied the markets by averting a sovereign bailout this year but high interest rates could yet force Madrid to its knees as the nation confronts a 207-billion-euro ($274 billion) financing headache in 2013.
For years it was a source of labor: Latin America, from where Spain’s poor colonial cousins flocked to work on its booming building sites. A decade on, the trend has gone into reverse.
Spain has won breathing space but nothing more, analysts said Wednesday, after it escaped a feared downgrade of its debt to junk-bond status.
WASHINGTON—Moody’s held Spain’s debt rating Tuesday at Baa3, one step above “junk” grade, but assigned Madrid a “negative outlook,” maintaining a threat to downgrade the country if conditions deteriorate. Moody’s cited the European Central Bank’s willingness to buy Spanish government bonds to stabilize its borrowing rate as well as the government’s commitment to implementing [...]
Asian stock markets fell Thursday after Spain, the fourth-largest euro economy, was slapped with a two-notch credit downgrade and the U.S. earnings season opened with a whimper.
Standard & Poor’s cut Spain’s sovereign debt rating Wednesday by two notches to just above junk level, citing the deepening recession and strains from the country’s troubled banks.
Spain’s leading daily El Pais is axing one-third of its staff and slashing salaries as it battles a growing media crisis, employees said Tuesday.
Thousands joined a protest march in the Spanish capital Sunday against the conservative government’s austerity policies amid growing uncertainty over whether the country will need a financial bailout.
Asian stock markets were boosted Tuesday by an upbeat report showing U.S. manufacturing grew in September month for the first time in four months.
