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News about Economy & Business

FILED - 13 December 2019, Algeria, Algiers: Abdelmadjid Tebboune, then Newly elected Algerian President, speaks during a press conference. In the diplomatic conflict with France, Algerian President Abdelmadjid Tebboune has adopted an intransigent stance towards the former colonial power. Photo: Farouk Batiche/dpa.

ENERGY CRISIS

Algeria threatens Spain with breaking the gas supply contract

The Nomad Today 4/27/22

Morocco has asked for support to guarantee its energy security on the basis of trade relations and Spain has responded to the request, which has caused irritation in Algiers

25 April 2022, France, Clermont-Ferrand: A view of entrepreneur Elon Musk Twitter's account displayed on a smartphone screen. Twitter announced on Monday that it has entered into a definitive agreement to be acquired by Tesla founder Elon Musk in a transaction valued at around $44 billion. Photo: Adrien Fillon/ZUMA Press Wire/dpa.

SOCIAL MEDIA

German digital experts fear more hate speech after Musk buys Twitter

The Nomad Today/dpa 4/27/22

Despite its bests efforts, Twitter also has a major problem with hate and disinformation

SOCIAL MEDIA

Elon Musk's $44-billion bid to buy Twitter is accepted

The Nomad Today 4/25/22

Musk made the non-binding proposal to acquire all outstanding common stock of Twitter not already owned by him earlier this month

Woman-engineer-factory-production-plant-team-work-by-pexels

ECONOMY

Spanish producer price inflation logs strongest pace since 1976

The Nomad Today 4/25/22

Producer price inflation (PPI) advanced to 46.6% in March, from 41.2% in the previous month

FILED - 19 April 2021, Hessen, Frankfurt_Main: A signpost with the words "Deutsche Bundesbank" stands outside the main gate of the Bundesbank's headquarters in Frankfurt am Main. Photo: Arne Dedert/dpa.

WAR IN UKRAINE

Recession predicted in Germany if Russian energy imports stop

The Nomad Today 4/22/22

Gas supplies would be particularly hard to replace, leading to supply shortfalls

Image: Screenshot of the Netflix access system.

BUSINESS

Netflix loses 200,000 subscribers, shares plunge 20%

The Nomad Today/dpa 4/20/22

The company suspended its service in Russia and wound down all Russian paid memberships, losing some 700,000 subscribers

FILED - 13 August 2021, Brandenburg, Gruenheide: Elon Musk, Tesla CEO, speaks during his visit to the construction site of the Tesla Gigafactory. The billionaire owner of electric car manufacturer Tesla Inc, Elon Musk, has offered to buy all of the outstanding shares in the social media platform Twitter. Photo: Patrick Pleul/dpa-Zentralbild/POOL/dpa.

BUSINESS

Twitter limits Musk's potential stake to 15% with 'poison pill'

The Nomad Today/dpa 4/18/22

The billionaire founder of Tesla already owns a more-than 9% stake in Twitter

05/04/2022. The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, at the press conference after the Council of Ministers. Photo: La Moncloa.

ECONOMY

Electricity price soared 108% in Spain, driving inflation to 9.8%

The Nomad Today 4/13/22

Significant increases were also recorded in the prices of fish and shellfish, legumes and vegetables, milk, cheese and eggs, and meat

WAR IN UKRAINE

Nokia leaves Russia citing Moscow's war on Ukraine

The Nomad Today/dpa 4/12/22

Meanwhile German electronics retailer Ceconomy is looking for solutions for its Russian investment in M.video due to the war

23 March 2022, Spain, Lugo: truck drivers protest with their vehicles as the transport sector entered its 10th day of an indefinite strike, called nationwide by the Platform for the Defence of the National and International Road Freight Transport Sector, to protest the unacceptable working conditions and fuel price surge. Photo: Jesús Hellín/EUROPA PRESS/dpa.

ECONOMY

Spain industrial output rises strongly driven by consumer goods

The Nomad Today 4/11/22

February's industrial production figures are the last for a period not influenced by the invasion of Ukraine and the subsequent economic sanctions on Russia, which last month triggered a spike…

Headquarters of the Bank of Spain in Cibeles square, Madrid. Photo: Banco de Espana.

ECONOMY

Bank of Spain doubles 2022 inflation forecast, cuts growth estimate

The Nomad Today 4/7/22

Spanish residents should keep in mind that at least another three months of sharp price increases await them

04/04/2022. Prime Minister Pedro Sanchez, during the inauguration of the 'Wake up, Spain!' forum in Madrid. Photo: La Moncloa.

ECONOMY

Spain to invest €11 billion to become European semiconductor hub

The Nomad Today 4/5/22

The financial resources are to come from Next Generation EU , a package of economic measures created by Brussels to support member states' recovery from the pandemic

24 March 2022, Spain, Lugo: Transport workers take part in a demonstration calling for the resignation of the Spanish Minister of Transport on the 11th day of the national strike of transporters. Photo: Carlos Castro/EUROPA PRESS/dpa.

INDUSTRY

The growth of the Spanish manufacturing slows down

The Nomad Today 4/4/22

The war in Ukraine served to exacerbate already embedded supply chain and inflationary pressures

25/03/2022. Prime Minister Pedro Sanchez, offered a joint press conference with the Prime Minister of Portugal, Antonio Costa, at the end of the European Council. Photo: La Moncloa.

ENERGY CRISIS

Spain and Portugal want to cap the price of gas at 30 euros per MWh

The Nomad Today 4/1/22

Limiting the price of gas would have an immediate reducing effect on electricity prices, since both are linked in the European energy market

ECONOMY

Spanish government allows product rationing to prevent shortages

The Nomad Today 3/30/22

The government decree emphasizes that rationing will only be allowed in the event of "extraordinary circumstances"

23/03/2022. Prime Minister Pedro Sanchez and the Minister of Economic Affairs Nadia Calvino, in the lower house of Parliament (Congress of Deputies). Photo: Photo: Eva Ercolanese/PSOE.

CONSUMER PRICES

Inflation in Spain close to 10% after Russian invasion of Ukraine

The Nomad Today 3/30/22

Prime Minister Pedro Sanchez said in the lower house of Parliament that 73% of this development is due to the war

Shopping cart in a supermarket. Photo: Pixabay.

ECONOMY

Spanish retail sales report rebound for February

The Nomad Today/dpa 3/29/22

Employment in the retail trade sector increased 2.6% year-on-year

Finance Minister María Jesús Montero, at a press conference after a extraordinary meeting of the Council of Ministers. Photo: La Moncloa.

INFLATION

Discount of 20 cents per liter of fuel in force in Spain from 1 April

The Nomad Today 3/29/22

The package of measures agreed by the coalition government includes other benefits, such as the cap imposed on rent increases and a temporary increase in the amount of the Spanish Minimum Vital…