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Monday
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17th
November 2003
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Companies
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SG CIB concentrates on European
countries, following its restructuring. The
Société Générale group's investment banking division will
divert resources towards its stronger markets, such as the UK,
Germany, Italy and Spain. (Expansión,
page 18)
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PC City plans tripling its turnover in 4 years. The
Spanish arm of the UK IT retailer, PC World, will have 40 stores in Spain by
2007. (La
Gaceta de los Negocios, page 22)
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Sony Ericsson increases sales in Spain by 40%.
The company predicts selling 1.5 million mobile phones by the end of the year,
60% of which will be phones with multimedia capabilities. (Expansión,
page 8)
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Markets
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Exporters call for new aid for investment in Sweden. A
report by the Hispano-Swedish Chamber of Commerce wants to increase the presence
of Spanish companies in the country, exports to which increased by 18% in 2002, primarily
in technology and pharmaceutical sectors. (Expansión,
page 51)
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The toy manufacturing sector forecasts a drop in exports. The
strength of the euro and competition from China are quoted as contributing
factors. (La
Gaceta de los Negocios, page 13)
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Tuesday
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18th
November 2003
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Companies
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Mourning in Alstom and
uncertainty in Atlantic shipyards. The
group's share price fell yesterday by 4.5% because of the
Queen Mary 2 accident. (Cinco
Días, page 8)
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Pfizer criticises Bonn
University for a report that questions Viagra. The
world's leading pharmaceutical firm responds to a survey which
shows that patients prefer rival brands Cialis and Levitra and
calls into
doubt its validity. (Cinco
Días,
page 6)
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DuPont
sells its fibre business to the Koch group. The
US chemical company sells Invista as part of a strategy to
concentrate in more profitable areas.
(Expansión, page
24)
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The
British mobile phone operator, MMO2, enters into profit for the first
time. Separated from BT two years ago,
the company has now registered net profits of 23 million pounds in the first
half of its financial year.
(Expansión, page 11)
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Markets
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The commercial war causes sharp increase in
broadband during October. The battle of offers have led to record levels of
new ADSL and Cable connections. (Expansión,
page 6)
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Wednesday
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19th
November 2003
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Companies
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Vodafone will launch UMTS
commercially in October 2004. The
company's turnover in Spain increased by 12% in the last half
year.
(La
Gaceta de los Negocios, page 13)
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Halifax in Spain turns towards
British clients. The UK bank's Spanish arm will take
advantage of familiarity with its brand amongst British
residents living in Spain to support new growth.
(Expansión, page
28)
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Bierwinkel will open bars in
Spain for the Belgian brewery, John Martin. The
restaurant chain plans to open 60 new establishments in 2
years through franchising . (Cinco
Días, page 16)
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Le Meridien looks into selling its hotels to
relieve its debt. Nearly 136 hotels
outside of the UK could be up for sale after the failure of talks with Hyatt and
Lehman Brothers. (Cinco Días, page
10)
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Markets
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The International Monetary Fund warns about the
high property prices in Spain.
In a report on the Spanish economy, the
organisation underlines the possibility of 'severe repercussions' if the price
rises are not controlled and the boom turns into a crash. (Cinco
Días, Expansión & Gaceta de los Negocios, Frontpage)
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Thursday
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20th
November 2003
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Companies
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First Choice retains just 9% of
Globalia after selling Barceló Viajes.
The UK tour operator sells off the chain of Spanish travel
agents but will hold on to a share of the Globalia group . (Cinco
Días, page 13)
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Crédit Agricole triples its
profits thanks to Lyonnais.
The merger helps the leading French banking group achieve net
profits of 382 million euros. (La
Gaceta de los Negocios, page 26)
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EMI outdoes forecasts and says it is moving
forward on the purchase of Warner Music.
The British record company registers profits despite predicting losses and
states that its acquisition of its rival is 'progressing well'. (Expansión, page
13)
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Markets
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Savings
Banks earn 17.3% more and obtain a bigger share of market . Figures
released for the period up to the end of September show that they are gaining
ground on the banks, above all in the area of private and business loans. (Cinco
Días, page 24)
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Friday
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21st
November 2003
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Companies
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Unilever eliminates half its
brands in Spain in three years. The
sell offs are part of a wider global strategy to concentrate
efforts on its brands that are market leaders. (Expansión,
page 12)
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Brussels rejects the approval
of 'Yondelis' and Zeltia's share price plummets by 7.5%. The
European Medicine Agency's decision is a serious reverse for
the company which will have to redefine its strategy. (Expansión, page
3)
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The resignation of a senior executive worsens
the internal crisis in Bertelsmann. Its
chairman of the supervisory board, Gerd Schulte-Hillen, resigns over plans to
merge its record division BMG with Sony Music. (Cinco
Días,
page 6)
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Markets
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Portugal
breathes a sigh of relief at Spain's classification.
The Spanish team's participation in Eurocopa 2004
will guarantee millions in tourism revenue. (La
Gaceta de los Negocios, page 62)
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Food
Industry logistics moves 323 million euros in Spain. Transport
of foodstuffs represents 8.4% of revenue for the logistics operating sector and
is third in ranking behind consumer products and cars. (La
Gaceta de los Negocios, page 22)
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