[Note to readers: I will be away from my desk until Sunday, so there will be no new news for the next six days. Have a lovely week] Europe may be about to find out. 128 days with my Mother-in-Law. By Nick Corbishley and cross-posted from WOLF STREET As market players cling to the hope that a… Read More What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time?
Owner of a small cafe that specializes in fine cakes and sandwiches tells me: “We’ll be lucky if we get half the normal number in July and August.” It’s now “all about damage control.”… Read More Barcelona’s Epic Tourism Boom Is Over, Now the Crisis Begins: My Walk to the Beach
The former king of Spain Juan Carlos is facing a storm of allegations over his financial dealings and his private life. Now his son, King Felipe VI, is fighting to preserve the monarchy… Read More Sex, Lies and Swiss Bank Accounts: The Allegations Against Spain’s Ex-king That Are Rocking His Son’s Reign.
We are temporarily a company with no product and no revenue.”… Read More The $1.5 Trillion Global Tourism Industry Faces $450 Billion Collapse in Revenues, Based on Optimistic Assumptions
Most importantly, we have our health (touch wood) and each other… Read More Welcome to Dystopia: My Life Under Lockdown in Spain
“If the situation of generalized panic continues, thousands of businesses, especially small ones, will first enter a liquidity crisis, then close their doors.”… Read More Tourism is 10% of GDP in France, 13% in Italy, 15% in Spain. And Now it’s in Free Fall
Santander Consumer USA is on the forefront of souring subprime-auto-loan backed securities… Read More Suprime Autoloans in the U.S. Are Blowing Up
Imam who masterminded the 2017 strike had been acting as an informant. The day after the Barcelona and Cambrils attacks, the intelligence file on the imam was reportedly wiped out… Read More Spanish Intelligence Knew of Terror Cell Ahead of Barcelona Attack, Say Reports
Madrid, Barcelona, other markets are well on their way. But some markets are still crushed… Read More Busted Housing Bubble 1 Morphs into Housing Bubble 2 in Spain?
“The worst labor market” on the planet: unemployment exceeded 20% in three downturns over the past 35 years.… Read More Unemployment in Spain Still Miserably High Despite Six Years of Economic Growth
Spanish banks expanded aggressively into Emerging Markets to flee the consequences of the euro debt crisis… Read More Threat of Contagion to Eurozone from Spanish Banks’ Huge Bet on Emerging Markets: UBS
The acquisition created the world’s biggest toll-road operator. But it was costly. And one of the acquirers, Atlantia of Italy, is now in trouble because its bridge collapsed, killing 43 people… Read More Toll-Road Giant Abertis Just Doubled its Debt to €22 Bn to Pay a Special Dividend to the Companies that Acquired it Last Year