Business News Madrid

  • *Gibraltar says Grace 1 is free to sail. *Tehran denies vessel was headed for Syria. GIBRALTAR, Aug 16- An Iranian tanker caught in the standoff between Tehran and the West shifted position on Friday, but its anchor was still down off Gibraltar and it was unclear if it was ready to set sail soon.

  • *Tehran denies vessel was headed for Syria. GIBRALTAR, Aug 16- An Iranian tanker caught in the standoff between Tehran and the West shifted position on Friday, but its anchor was still down off Gibraltar and it was unclear if it was ready to set sail soon. The Grace 1 was seized by British Royal Marines at the western mouth of the Mediterranean on July 4 on suspicion of...

  • Aug 13- European shares fell on Tuesday, as a slew of economic and geopolitical worries including Italy and Argentina's political uncertainty and unrest in Hong Kong, compelled investors to take refuge in safe harbors like bonds and gold. The pan-European STOXX 600 index fell 0.3% by 0715 GMT, with the bank-heavy Milan and Madrid indexes leading losses.

  • *Former UBS banker Orcel files lawsuit in Madrid court. MADRID/ LONDON, July 23- Santander said it would fight a 100 million euro lawsuit being brought by Italian banker Andrea Orcel after it withdrew an offer to make him its chief executive earlier this year. Former UBS banker Orcel has filed a lawsuit in Madrid with the help of law firm De Carlos Remon, claiming...

  • MADRID/ LONDON, July 23- Spanish lender Santander said on Tuesday that it would fight in court a lawsuit being brought by Italian banker Andrea Orcel after it dropped an offer to make him chief executive. Ten months ago, the euro zone's largest lender by market capitalisation announced with fanfare its decision to name one of Europe's best-known investment...

  • MADRID, July 23- Santander said it would contest a 100 million euro lawsuit being brought by Italian banker Andrea Orcel after it withdrew an offer to make him its chief executive. Santander offered Orcel, one of Europe's highest profile bankers, the role but then changed its mind in January, saying it could not meet his pay demands. Former UBS banker Orcel has filed...

  • *Spain to ramp up solar, wind power; phase out nuclear and coal. MADRID, July 19- Spanish authorities fear that a speculative rush threatens to hold back the development of renewable energy, saying coveted rights to connect to the national power grid are being secured with the sole aim of selling them on for a profit. Spain plans to ramp up solar and wind energy and...

  • *Bank-heavy Milan and Marid stocks outperform. The pan-European stocks benchmark rallied earlier in the day on remarks from Fed Chair Jerome Powell but reversed course in late afternoon trading to close 0.1% lower. The White House announced that it was ditching its push for changes to the pharma rebate structure, providing some relief to health insurance...

  • San Francisco, California

    By 2050, London's climate could be more akin to Barcelona today, while Madrid's will be closer to modern-day Marrakech, according to a new study.

  • *Mexico- exposed Spanish stocks slip. Federal Reserve Chair Jerome Powell's testimony that could determine the path of future interest rate cuts, with strong industrial output data from France and Italy limiting losses. Powell's two-day monetary policy testimony to Congress is set to begin at 1400 GMT, and investors see a worrying lack of inflation globally...

  • July 9- German shares drove Europe lower on Tuesday after a profit warning from chemicals giant BASF citing trade friction put chemical and auto makers on the back foot, while a slump in copper prices knocked mining stocks. In the latest evidence of the U.S.- China trade war squeezing businesses, BASF warned that profit would fall below forecasts for the second...

  • SANTA MARGHERITA, Italy, July 3- Italian broadcaster Mediaset kept its door open on Wednesday to a possible merger with German equity partner ProSiebenSat.1 Media but said the Italian group's plan to create a pan-European media alliance took priority. ProSiebensat likes us but there are other possibilities in Europe, "he said in the coastal town of Santa...

  • MADRID/ LONDON, July 3- Santander faces a 100 million euro claim by Andrea Orcel, one of Europe's best-known investment bankers, after the Spanish bank offered him the job of chief executive but withdrew it when it could not meet his pay demands. Santander will have about 20 days to respond to a civil lawsuit which 56- year old Orcel plans to file in Madrid, sources...

  • Google's bet on balloons to deliver cell service soon faces a crucial test amid doubts about the viability of the technology by some potential customers.

  • WASHINGTON, June 24- The U.S. Supreme Court on Monday rejected Argentina's bid to fend off a lawsuit by energy company Petersen Energía Inversora, S.A. seeking compensation for shares it owned in the now-nationalized YPF S.A. energy company. The New York- based 2nd U.S. Circuit Court of Appeals in July 2018 rejected arguments by Argentina and YPF that the suit...

  • BRUSSELS, June 21- European Union leaders will meet again on June 30 to seek agreement on who should inherit the bloc's top jobs- including the head of its central bank- after failing to get a deal in talks dragging into the small hours on Friday. The 28 national leaders meeting in Brussels for secret deliberations- no aides or phones allowed- remained at odds over who...

  • BRUSSELS, June 21- European Union leaders will meet again on June 30 to seek agreement on who should inherit the bloc's top jobs- including the head of its central bank- after failing to get a deal at the second attempt in talks dragging into the small hours on Friday. The prominent positions, including the head of the European Central Bank and the EU's executive...

  • *Roles include presidencies of ECB and European Commission. BRUSSELS, June 20- Chances of EU leaders agreeing on Thursday on who should inherit the bloc's top jobs- including the head of its central bank- appeared vanishingly slim, as France and Germany cast doubt on any imminent deal and Ireland said electing a pope would be easier. The 28 national leaders meet in...

  • BRUSSELS, June 20- The European Union's 28 national leaders meet in Brussels on Thursday to haggle over how ambitious their climate goals should be and who should navigate the bloc in coming years. Power centers Berlin and Paris are at odds over who should take over the executive European Commission later this year, with German Chancellor Angela Merkel backing...

  • PARIS, June 18- IAG on Monday ordered 14 of Airbus' new long-range version of the A321 passenger jet for its Irish Aer Lingus and Spanish Iberia airlines in order to boost their transatlantic routes, the company said on Tuesday. "This will strengthen both Dublin and Madrid hubs providing new transatlantic routes and additional flexibility for connecting...