Stephen's Blog
My super tagline...
By: Stephen Bates

[Recommend this Fotopage] | [Share this Fotopage]
View complete fotopage

Wednesday, 30-Oct-2013 16:30 Email | Share | Bookmark
Spain’s Intelligence Service Chief To Brief Parliamentary Panel

Spain's economy has been shrinking, or near flat, since a decade-long property bubble burst in 2008, leaving millions out of work and thousands of companies out of business. "Growth seems to be due to the strength of the external sector, which is encouraging, and business surveys suggest there may be more of that to come in the near term," said Ben May, economist at Capital Economics. "However, domestic demand is still contracting and against that backdrop it's hard to see a strong and sustained recovery." INE confirmed that third quarter output was supported by exports, the only area of growth since the recession began, and a busy tourist season as holidaymakers shied away from resorts in the politically troubled Middle East and northern Africa. Domestic consumption has plummeted since the property crash, though the first increase in retail sales after over three years of contraction in September suggested the worst of the downturn could be over. Depressed high-street spending could see a slight boost from an easing of inflationary pressures. <br>More:

"While economic prospects are considerably better than a year ago, particularly in the external sector, domestic weakness is like to hold back any recovery in the wider economy," said a report on Wednesday's data from analysis group Capital Economics. "We expect the unemployment rate to remain around its current high levels for some time yet and public debt to continue to climb." The Spanish government expects an overall contraction of 1.3 percent for 2013 -- slightly better than the 1.6 percent in 2012 -- before a return to timid growth of 0.7 percent in 2014. Consumer price inflation in Spain slowed in October to 0.1 percent compared to a year earlier, according to other preliminary data from the statistics institute, harmonised with EU estimates. The institute attributed the easing in October to a fall in the price of food and a smaller rise in university fees than in the previous year. Inflation has been easing in Spain since peaking in October 2012, in line with a general easing in the eurozone indicated by the European Union data agency Eurostat. By another measure, the non-harmonised inflation figure that serves as a benchmark in Spain, inflation was negative browse for the first time for four years, at minus 0.1 percent. <br>More:

Diego Costa was born in Brazil but holds a Spanish passport, having moved to Spain in 2007. Spain will defend its world title in Brazil at the 2014 World Cup. The 25-year-old Diego Costa is having an outstanding season for Atletico after the exit of Radamel Falcao this summer. He has led it to a club-record start in the Spanish league with a competition leading 11 goals in 10 rounds. With David Villa having injury problems and Fernando Torres showing dips in form, Del Bosque appears set to make a major change to a squad whose core he has kept largely intact since Spain won the first of its two consecutive European championships in 2008. <br>More:

The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, put 2,500 bank-owned rental homes up for sale. Colony Capital LLC, an investment fund founded by Tom Barrack won bidding for 970 of the homes in Arizona, California and Nevada. Its now the third-largest single-family home landlord in the U.S. Blackstone Buying Blackstone started buying two months later through its Invitation Homes division, which now operates in 14 metro areas, including Atlanta, Chicago, Las Vegas, Miami, Orlando and Phoenix. The company is renting about 95 percent of them within 60 days, according to Laurence Tosi, Blackstones chief financial officer. The firm is this site leading investors that have raised more than $20 billion to purchase as many as 200,000 homes to rent. Blackstone is now attempting to sell debt backed by the rental payments, the first securitization of its type, with Deutsche Bank AG (DBK) holding a meeting today in New York to market $479.1 million of the securities backed by mortgages on 3,207 properties. <br>More:

Spains El Mundo newspaper published two new documents Wednesday based on leaks by former NSA contractor Edward Snowden which the paper said showed that Spain and other countries cooperated with the NSA in the spying. Meanwhile, two senior German officials were in Washington on Wednesday, part of Berlins efforts to probe allegations that Chancellor Angela Merkels cellphone was monitored by U.S. intelligence. The heads of Germanys foreign and domestic intelligence agencies will also browse visit Washington in the coming days, said Merkel spokesman Steffen Seibert. He did not say who the Germans were meeting with on the spying issue. Russian Foreign Minister Sergey Lavrov said his government wasnt surprised by revelations of alleged monitoring by the U.S. <br>More:

View complete fotopage

© Pidgin Technologies Ltd. 2016