AGP Executive Report
Last update: 5 hours agoBanking Protest Wave: Spanish banking workers are mobilising across cities on June 3, with CCOO citing heavier workloads, tougher commercial targets and worse occupational health after years of restructuring that cut branches and customer-service roles while profits rose. Housing Cost Pressure: iAhorro says households devote 36.85% of net pay to rent versus 22.65% to mortgage payments, warning renting is becoming a bigger financial burden and highlighting the upfront savings needed for buying. Canary Islands Social Security Support: The Canary government launches a subsidy for self-employed workers to cover Social Security contributions during up to two months of illness/injury incapacity, up to €700 per claimant and retroactive to Jan 1. Eurozone Growth Wobble: Eurozone private activity shrank again in May, with PMI output at 48.5 and cost pressures at a 3.5-year high, raising odds of Q2 contraction. Cuba Tourism Exit: Melia will stop managing 15 hotels in Cuba due to worsening legal, economic and geopolitical conditions tied to tighter US pressure. EU/Spain Energy Policy: EU clears a €9bn capacity mechanism to secure Spain’s electricity supply, while the eurozone’s inflation and demand slowdown keep investors cautious.
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