Months After Takeover, European Supermarket Giant Dia Discloses Huge Losses, Plunging Revenues, Soaring Debt by Nick Corbishley • Nov 7, 2019 • 36 Comments Russian billionaire rues the day he bought it. “We should have been more cautious and done our due diligence better.”
The Crisis in Catalonia & What I Saw in Our Neighborhood in Barcelona by Nick Corbishley • Oct 27, 2019 • 65 Comments As separatist region is rocked by violence, businesses sound alarm.
Just Weeks After the Collapse of Thomas Cook, Spain Launches First Bailout of its Huge Tourism Industry by Nick Corbishley • Oct 12, 2019 • 38 Comments “An unforeseen crisis.” Other headwinds intensify too
One of World’s Construction Giants Admits Using Risky Hidden-Debt Loophole “Across Group.” Australian Subsidiary Crushed by Nick Corbishley • Aug 9, 2019 • 43 Comments This “crack cocaine for CFOs” was also extensively used by Carillion until it collapsed.
ECB’s NIRP-Forever Policy “Destroys Banks’ Profitability Equation”: Bankia CEO. Spanish Banks Reel. Problems Stack Up by Nick Corbishley • Jul 30, 2019 • 47 Comments Spain’s Big Five banks (already down from the Big Six) could soon be four.
Busted Housing Bubble 1 Morphs into Housing Bubble 2 in Spain? by Wolf Richter • May 27, 2019 • 28 Comments Madrid, Barcelona, other markets are well on their way. But some markets are still crushed.
Unemployment in Spain Still Miserably High Despite Six Years of Economic Growth. Now it Ticked Up Again by Don Quijones • Apr 27, 2019 • 30 Comments “The worst labor market” on the planet: unemployment exceeded 20% in three downturns over the past 35 years.
Threat of Contagion to Eurozone from Spanish Banks’ Huge Bet on Emerging Markets: UBS by Don Quijones • Apr 18, 2019 • 19 Comments Spanish banks expanded aggressively into Emerging Markets to flee the consequences of the euro debt crisis.
Toll-Road Giant Abertis Just Doubled its Debt to €22 Bn to Pay a Special Dividend to the Companies that Acquired it Last Year by Don Quijones • Mar 12, 2019 • 23 Comments The acquisition created world’s biggest toll-road operator. But it was costly.
All Heck Breaks Loose After Spanish Banks Block Thousands of Accounts with Chinese Names & Folks Can’t Get to Their Money by Don Quijones • Feb 26, 2019 • 51 Comments The banks claim they’re complying with anti-money laundering regulations.
