Tag: to lift

The Bank of Spain sees housing prices rising and advises monitoring bank real estate exposure

The Bank of Spain sees housing prices rising and advises monitoring bank real estate exposure

Housing prices and home buying and selling increased in the final months of 2023 and this could become a headache for banks, although it is not even a concern for now. “Home sales increased slightly in the latter part of 2023,” the Bank of Spain explained in its Spring Financial Stability Report. In particular, it […]

Justice agrees to increase to 250 euros per month for officials dependent on the Ministry

Justice agrees to increase to 250 euros per month for officials dependent on the Ministry

The Ministry of Justice announced on Wednesday that an agreement has been reached with trade unions to increase the salary to 250 euros in 2025 for judicial officers working in central authorities and communities that have not been handed over the management of justice. These are Extremadura, Castilla-La Mancha, Castilla y León, Murcia, Balearic Islands, […]

Rising prices for coffee, cocoa and sugar continue to put pressure on food industry costs

Rising prices for coffee, cocoa and sugar continue to put pressure on food industry costs

A few days ago, the large multinational companies of the food industry assured that the prices, after two years of continuous growth, have no more room to rise, because the consumers’ pockets do not give more. Now, in early spring and in the second quarter of the year, the increase in the three main products […]

Eviction drama due to inability to raise rent

Eviction drama due to inability to raise rent

Last week, a few minutes after the eviction, Alex (70 years old) killed himself in the basement. His wife had mobility issues and had not been paying rent for months due to financial difficulties. In Valencia, the city council evicted Antonia and her three children (ages 3, 6 and 8) from the house they were […]

Amnesty, three elections and no budget: Spanish politics is a roller coaster and if you don’t like it, don’t follow it

Amnesty, three elections and no budget: Spanish politics is a roller coaster and if you don’t like it, don’t follow it

When history seems continuous, the present arrives and bursts with unique experiences. With the legislature seemingly dependent on an amnesty law to launch a government program and budget, Catalonia’s electoral advance has put budgets in the freezer and stalled much of the government’s legislative ambitions, which it will have to face. Three elections in three […]

Inflation in February decreased by 6 tenths to 2.8%, the lowest increase in food products in the last 2 years.

Inflation in February decreased by 6 tenths to 2.8%, the lowest increase in food products in the last 2 years.

Inflation fell by 6-tenths to 2.8% in February, compared to the same month in 2023, due to lower electricity prices and the lowest increase in food prices in 2 years. Inflation has decreased moderately and the annual rate has not been there for 6 months. Mainly thanks to electricity bills, which are about 70% lower […]

Trade unions agree to 5% wage increase with CaixaBank and Unicaja employers

Trade unions agree to 5% wage increase with CaixaBank and Unicaja employers

The unions and CECA, the employers’ association of CaixaBank and Unicaja, have reached a preliminary agreement on a new electoral agreement that will last for the next three years. According to union sources and confirmed in a statement by the employers’ association, the terms include a 5% increase for this year and a cumulative 11% […]

Sales of Pepsi, Unilever and Nestlé suffer from rising prices: “This year they will be much lower than last year”

Sales of Pepsi, Unilever and Nestlé suffer from rising prices: “This year they will be much lower than last year”

Major consumer goods multinationals have been growing their earnings for months thanks to inflation. Price increases that until recently could not be seen through the roof and were justified because cost pressures left them with no choice but to damage their profitability. Now, two years after Russia’s invasion of Ukraine led to inflationary pressures, it […]

Rising rates cause biggest drop in mortgage lending in decade in 2023

Rising rates cause biggest drop in mortgage lending in decade in 2023

Mortgage lending is set to have its worst year in a decade in 2023. The National Institute for Statistics released its annual results for the mortgage market this Thursday and confirmed the impact of rising interest rates on key bank financing businesses. The number of new mortgages and equity issued by entities fell by 17.7% […]

Labor unions and employers call for raising the minimum wage on January 8

Labor unions and employers call for raising the minimum wage on January 8

Monday, January 8 at 11 am. This is the date and time when Labor has invited social agents, trade unions and the majority of employers for a new meeting on the increase of the inter-occupational minimum wage (SMI), according to social dialogue sources. Yolanda Díaz’s ministry immediately opened the negotiating table after the Christmas break, […]

Mercadona and the unions sign a collective agreement with a wage increase of 2.5%, which can be extended to 6%.

Mercadona and the unions sign a collective agreement with a wage increase of 2.5%, which can be extended to 6%.

Mercadona and representatives of the UGT, CCOO and Independent Union have signed a new collective agreement for the company, which will come into force on January 1, 2024 and will last for five years until the end of 2028. According to the supermarket chain, the contract ensures the purchasing power of the labor force and […]

Ayuso’s responsibility in the sudden increase in rental prices in Madrid

Ayuso’s responsibility in the sudden increase in rental prices in Madrid

Rental prices continue to rise and seem to have no ceiling. According to Datadicto, in the community of Madrid, a person needs to invest 112% of the minimum interprofessional salary to be able to live in a 60 m² house. In July, Isabel Diaz Ayuso, who has always opposed the government’s housing law, which came […]

Negotiating the minimum wage is complicated: Montero and Calvino deny linking government contracts to increases

Negotiating the minimum wage is complicated: Montero and Calvino deny linking government contracts to increases

A stumbling block in negotiations to raise the minimum wage in 2024. Labor is trying to reach a social agreement on a 4% increase in SMI to €1,123 gross per month, a midway point between union and employer demands. However, employers’ associations are also demanding as a prerequisite that they be able to link this […]

December’s long weekend will leave cloudy skies, rain and rising temperatures from Thursday

December’s long weekend will leave cloudy skies, rain and rising temperatures from Thursday

The State Meteorological Agency (Aemet) has forecast several holidays this long weekend with a slight rise in temperatures and widespread rain, especially on Thursday and Friday. However, this Tuesday, temperatures will drop across most of the country, except for the south-eastern third of the peninsula and the Canary Islands, where a rise prevails. You can […]

Labor has been trying to reach an agreement on raising the minimum wage: from 3.5% to 4%.

Labor has been trying to reach an agreement on raising the minimum wage: from 3.5% to 4%.

The Ministry of Labor is confident that with the support of employers and trade unions, it will soon be able to reach an agreement on raising the minimum wage. The figures processed by the department of Yolanda Díaz are about 4%, in the middle between the demands of employers and workers’ organizations. This Monday, Labor […]

Data showing that labor reform and minimum wage hikes have reduced inflation’s toll

Data showing that labor reform and minimum wage hikes have reduced inflation’s toll

The statistical evidence that labor reform and increases in the SMI (Interprofessional Minimum Wage) saved workers from much of the damage of inflation is now indisputable. The latest figures released by the Tax Agency and the EPA (Active Population Survey, conducted by INE) for 2022 show that the two main labor policies of the first […]

Businessmen are moving from catastrophic forecasts of minimum wage increase to proposals to increase it

Businessmen are moving from catastrophic forecasts of minimum wage increase to proposals to increase it

In a surprise move, businesspeople this week came out to be the first to be named in the debate over the 2024 minimum wage. In the face of strong criticism of the measure in the past, including refusing to negotiate several times recently. For the time being, now employers’ associations CEOE and Cepyme have proposed […]

Big banks hit new record profit on rate hike – 19,761 million

Big banks hit new record profit on rate hike – 19,761 million

Record after record. Spanish banks have had weeks of reporting results that have confirmed the strong impact of rising interest rates on their profits. The six main banks (CaixaBank, Santander, BBVA, Sabadell, Bankinter and Unicaja) ended the period from January to September with a profit of 19,761 million euros, almost 24% more than in the […]