Spain

A U.S. court judge ordered Argentina on Monday to give up 51% of its stake in the oil and gas company YPF to satisfy a $16.1-billion judgment against it. U.S. District Court Judge Loretta Preska, in Manhattan, said Argentina had to transfer its YPF share within 14 days into a BNY Mellon account and instruct this bank to transfer those shares to the plaintiffs within one business day. Argentina appealed Preska's decision of September 2023 to award $16.1 billion to Petersen Energia Inversora, Eton Park Capital Management and litigation funder Burford Capital. Preska's ruling came the same day Argentina requested...

Enel, Italy's largest utility, approved on Thursday a plan for a share buyback and the option to cancel shares acquired without reducing capital. This allows Enel to reward its investors more. The board was given the authority to buy back up to 500,000,000 shares at a maximum cost of 3.5 billion Euros ($3.95 billion). Enel’s board will now decide when and how much to spend on the first tranche. Financial analysts say the utility controlled by the government could spend up to 1 billion euros on the first tranche of buybacks, in an effort to increase the value. Share buyback...

European shares recovered from an early drop to close higher Thursday. Industrial stocks got the biggest boost while corporate earnings were in the spotlight. The STOXX 600 index for the continent was up by 0.6%. The majority of major regional indexes rose, with Germany up 0.7%. Russian President Vladimir Putin snubbed challenge To meet face-toface with Ukrainian president Volodymyr Zelenskiy in Turkey is to deal a serious blow to the prospects of a breakthrough for peace. Hensoldt, Rheinmetall and Leonardo all saw gains of 4% or more. The European aerospace and defence index rose 2.3%. Chris Beauchamp is the chief...

Petrobras, the state-run Brazilian oil company, said that its board of directors had authorized it to sign a settlement agreement with Unigel Chemical Company to settle a legal dispute over two fertilizer factories in northeastern Brazil. Petrobras stated in a filing of securities that the agreement would restore Petrobras ownership over two fertilizer factories located in Sergipe state and Bahia state. Petrobras announced that the plants would resume operations after a process of bidding to contract for services to operate and to maintain them. The deal, however, still needs to be approved internally within Unigel, and it must also meet...

Canada's McEwen Copper is hunting for financiers to raise $2.5 billion to move on with building of Los Azules copper mine in Argentina, company Vice President Michael Meding stated in an interview. McEwen Copper, part of McEwen Mining, is among numerous international companies seeking to draw out copper in the mountains of northern Argentina, an area mostly untapped for the product due to the nation's hard capital controls and volatile economy. A reward program under President Javier Milei is now spurring activity, including from significant gamers such as miner BHP, after the nation's only copper mine closed in 2018. Los...

Brazil's federal government and numerous of its biggest industrial banks are dealing with a strategy to speed the divestment of engineering group Novonor's majority stake in Braskem, Latin America's biggest petrochemical company, according to six individuals acquainted with the talks. Novonor, which altered its name from Odebrecht after a major graft scandal almost a decade ago, has been checking out a sale for years but stopped working repeatedly to get a deal throughout the line. The group has actually been under pressure to disinvest because, at the height of the Car Wash corruption scandal, it installed its Braskem shares as...

The U.S. federal government sided with Argentina in urging a federal judge not to force the cashstrapped nation to quit its 51% stake in oil and gas business YPF to partially satisfy a $16.1 billion court judgment. In a Wednesday night letter, called a declaration of interest, to U.S. District Judge Loretta Preska in Manhattan, the Department of Justice said it has actually long argued that U.S. courts can not order the seizure of foreign sovereign home situated outside the United States. It also stated it would break sovereign immunity to need Argentina to turn over the shares to 2...

The U.S. government sided with Argentina in prompting a federal judge not to require the cashstrapped country to quit its 51% stake in oil and gas company YPF to partially please a $16.1 billion court judgment. In a Wednesday night letter to U.S. District Judge Loretta Preska in Manhattan, the Department of Justice stated it has long argued that U.S. courts can not order the seizure of foreign sovereign property located outside the United States. It likewise stated it would break sovereign immunity to need Argentina to turn over the shares to two financiers represented by litigation funder Burford Capital,...

The U.S. government is studying. really carefully the possibility of imposing additional sanctions. on individuals in Venezuela along with prospective withdrawing. licenses for oil companies working in the South American. nation, in response to what it calls a deceptive election, a. senior authorities stated on Friday. Brian Nichols, U.S. assistant secretary of state for Western. Hemisphere affairs, made the remarks during a webcast instruction. with press reporters. Using either specific sanctions or the. cancellation of licenses related to sectoral sanctions are. something that we're studying extremely carefully, said Nichols, after. being asked about the possibility of imposing new visa. constraints...

The U.S. federal government said on Monday it may get associated with a dispute over whether Argentina must quit its 51% stake in oil and gas company YPF to assist satisfy a $16.1 billion court judgment. In a filing with the U.S. District Court in Manhattan, the U.S. Department of Justice stated it is actively thinking about whether to file a so-called statement of interest in the case. Such statements can be submitted when a dispute discuss the U.S. government's sovereign interests. Monday's filing did not say why the U.S. government thinks it might have an interest in the YPF...

Spanish oil company Repsol will no longer sponsor the Honda MotoGP team from next season, the Japanese motorbike manufacturer stated on Sunday, bringing the drapes down on the iconic collaboration that lasted three years. Repsol started sponsoring Honda when they went into Grand Prix racing in 1995 and have actually considering that had enormous success with numerous manufacturer titles and riders champions with greats such as Mick Doohan, Valentino Rossi and Marc Marquez. With Repsol as the primary sponsors, Honda claimed 15 leading class world championships, 10 leading class group champions, 183 premier class wins and 455 premier class podiums....

Spain's Naturgy said it had reached a price contract with its Algerian gas supplier and provided a consensusbeating earnings outlook for the year on Tuesday as the power company aims to proceed from a. stopped working takeover effort. Naturgy stated it was dealing with a brand-new strategic plan through. 2030 after its largest shareholder Criteria and Abu Dhabi's TAQA. in June called off talks over a joint takeover bid. Chairman Francisco Reynes also stated that biomethane will. play a crucial role in Naturgy's brand-new tactical strategy The company said it had actually concurred a deal on 2023 and 2024. rates...

Siemens Gamesa, a wind turbine manufacturer, is in discussions with Chinese suppliers about bringing production in Europe. This would reduce the region's dependence on imports following China's restrictions on supply. The delays in the issuance of Chinese export permits for rare earths have forced European automakers and their suppliers into a scramble to find alternatives on a market dominated by China, the world's second largest economy. The production of rare earths across Europe could be affected by the No. 2 economy in the world. Wind sector is also dependent on rare earths produced in China. Most notably, neodymium which is...

Investors stayed away from major bets on Friday ahead of the crucial U.S. employment data. Trade tensions also added to the uncertainty. As of 0809 GMT the pan-European STOXX 600 remained at 551.95 and was on course for a second weekly gain if momentum continues. The day will begin with a monthly reading of U.S. Non-Farm Payrolls. This will help investors gauge how President Donald Trump’s trade policies have affected the labor market, and how the Federal Reserve may navigate the uncertain trade environment. Commerzbank analysts stated that "a print above the consensus could reinforce Fed's cautious position and serve...

Investors resisted placing large bets before the release of important U.S. employment data. Trade tensions also added to the uncertainty. As of 0709 GMT the pan-European STOXX 600 index held steady at 551.9 points. If momentum continues, it could be on course for a second weekly gain. Investors can gauge the Federal Reserve's ability to navigate the uncertain trade environment by assessing the monthly U.S. Non-Farm Payrolls. The U.S. president Donald Trump doubled the tariffs on imports of steel and aluminum earlier this week. This heightened trade tensions. The Trump administration has asked countries to submit best offers before Wednesday...

U.S. president Donald Trump threatened again on Friday to intensify his trade war. He recommended a 50% tariff for goods from the European Union starting on June 1, sending European stock prices crashing. Eurostat reports that the United States will be the bloc's largest export partner by 2024, accounting for 20,6% of all exports. According to data, the most important export group of the EU to the U.S. in 2024 was pharmaceuticals, followed by motor cars, aircrafts, and related equipment. Germany was the third largest exporter to the United States of the EU, with 161 billion euro worth of goods....

People familiar with the matter said that the Guinean government's decision to revoke Emirates Global Aluminium (EGA's) mining license was due to the company's failure in fulfilling its commitment to build an alumina refining plant. Reports on Wednesday indicated that Guinea had begun a process of revoking the EGA license, intensifying a dispute which began in October when the Emirati firm's mining and bauxite-export operations were suspended. Guinea's move, as the second largest bauxite producer in the world, could disrupt global supply chains for aluminium and signal the country's increasing hostility toward foreign miners, especially since the September 2021 junta...

Acerinox, a Spanish steelmaker, said it expected to benefit from the "deglobalisation", and increased trade barriers. However tariff-related uncertainty hurt its first-quarter results. Acerinox is unique in the industry. Chief Corporate Officer Miguel Ferrandis stated on a conference phone that it has an advantage in taking advantage of "regionalisation" issues. In the first quarter, the company's net income fell by 81% from the same period of 2024 to just 10 million euros ($11.28m) due to a downturn in the steel market exacerbated the trade war. At 1028 GMT the shares were down by 1.3%, partially recovering from an earlier 5%...

Alcoa, the aluminium producer, said that its order book was robust for the second quarter and it had not seen any drop in orders due to U.S. Tariffs. It also noted that Spain's power failure this week posed a risk to its business in Spain. Since his election, U.S. president Donald Trump has imposed an aluminum import tariff of 25% "without any exceptions or exclusions", in a bid for the U.S. to increase its production. Our first quarter order books were strong. The second quarter order books remain strong. We have not seen a drop in orders due to tariffs,"...

The top European steelmakers' first-quarter earnings were better than expected, but they warned that trade tensions around the world, low European prices, and market volatility will cloud the outlook for the remainder of the year. ArcelorMittal, which reported on Wednesday a smaller-than-expected drop in its quarterly core profit, flagged trade disruptions as a risk to its 2025 steel demand forecasts, particularly in the U.S. and China, sending its shares down more than 5%. Aditya Mittal, CEO of world's second largest steelmaker Aditya Mittal, said that increased uncertainty over global trade terms is damaging business confidence. If not resolved quickly, it...

Real Betis held Barcelona to a 1-1 draw at home on Saturday. The visiting defender Natan cancelled out Gavi’s early goal. Hansi Flick’s Barca now has 67 points. This is four points ahead of Real Madrid, who suffered a 2-1 loss at home to Valencia on Saturday. Betis moved up to fifth place with 48 points. Gavi scored from close range after a brilliant team effort by Ferran Torres, seven minutes after the kickoff. Natan equalised from a corner on the 17th minute. Despite dominating, Barca couldn't find a way to beat Adrian, the 38-year old goalkeeper who later made...

According to a letter obtained by, Howmet Aerospace - which supplies parts for aircraft built by Airbus or Boeing - may stop some shipments in the event that tariffs announced by U.S. president Donald Trump are implemented. Howmet, based in Pittsburgh, said that it had declared a force-majeure event. This is a legal term that allows contracting parties to escape their obligations when faced with unavoidable or unpredictable external circumstances. Howmet wrote that it would be excused from providing any products or services impacted by the declared national emergency, and/or tariff executive order. Howmet refused to comment. Howmet supplies critical...

According to a state-television announcement on Tuesday, the military leader of Guinea has set a date for a referendum on constitutional reforms on September 21, 2025. This could be a first step in returning to constitutional democracy. Mamady Doumbouya, who seized power through a coup on September 20, 2021, proposed in 2022 a two-year period of transition before elections. However, he did not organise any vote. Guinea is a producer of bauxite, iron ore, and other minerals. West African countries Where the military has taken control and stopped a return to civil rule. The military authorities set a deadline of...

The Chinese embassy in Spain reported that Stellantis, its Chinese partner Leapmotor and their Spanish plant plan to invest $200 million in the factory. A person with direct information on the matter had said Spain would be the best place for producing the B10 electric cross-over car for the European market starting in 2026. Both companies are looking for a location in Europe where they can produce the model that made its debut in Europe in September. Stellantis factories in Germany or Slovakia were also under consideration. The Chinese embassy stated that the factory in Zaragoza is where they intend...