(To our readers: this is an article that will evolve during the day, which includes in the upper part the articles that we have decided to develop, enrich or personalize, then, in the lower part, the information which constantly reaches us, sorted from the most recent to the oldest. Do not hesitate to share your reactions to this summary of the day or your information at the address [email protected])
Our selection of three items
“The link between banking constraints and their impact on the real economy remains poorly understood,” laments Gilles Pierre of the ABBL. (Photo: Guy Wolff/Maison Moderne)
Equity: the ABBL foresees “a triple shock wave”. The new EU regulation on capital requirements, applicable from 2025, could force banks to review their financing. The ABBL warns of the impact on real estate development and new construction, key sectors for meeting demand for housing.
The Real Estate Chamber confirms a slight recovery in Vefa. The Real Estate Chamber has launched a survey among its members which confirms a slight recovery with regard to Vefa from the fourth half of 2024.
Vincent Juvyns: “Finally a ‘Brexit dividend’”. European stocks may be relatively cheap, but Vincent Juvyns of JP Morgan Asset Management says you should invest in them for their income benefits. He noted that value investors have also been active in acquiring real estate assets across several sectors. When it comes to Chinese stocks, the asset manager has chosen to remain “neutral”.
In the Paperjam news feed
7am. Tourism. The Barcelona Tourist Apartments Association is demanding 4.2 billion euros in compensation if the municipality ends the licenses by 2029. They denounce a “disguised expropriation” and plan to take legal action in the event of refusal.
7h. Enterprise. On December 17, at 5:26 p.m. local time, SES reached a new milestone in the deployment of its O3b mPower constellation by launching two additional satellites into medium orbit from the Kennedy Space Center in Florida. These new modules strengthen a system designed to deliver high-speed, low-latency connectivity services on a global scale.
6am. Business. Japanese manufacturers Honda and Nissan are beginning discussions on a possible merger, according to the Nikkei business newspaper. This merger, potentially extended to Mitsubishi, would aim to strengthen their competitiveness against Tesla and Chinese manufacturers of electric vehicles. A memorandum of understanding is planned, but the details remain to be clarified.
Here. Europe. The European Parliament’s Economic and Monetary Affairs Committee (Econ) has reached an agreement with the Council of the European Union to simplify and harmonize data collection in the EU financial sector. The new rules aim to reduce duplication and administrative burden by introducing the ‘report once’ principle, where financial institutions report their information only once, which is then shared between the relevant authorities. The scope is expanded to include bodies such as Amla, SRB and SSM. A report on an integrated reporting system will be studied within five years.
Here. Automobiles. Stellantis has announced that none of its factories in Italy will close and plans to increase production from 2026 with new models. The group will invest 2 billion euros in 2024 and produce several electric and hybrid vehicles, including the new Alfa Romeo Stelvio in 2025 and an electric compact car in Naples in 2028.
Yesterday. Business. The Belgian telecommunications company Proximus is bringing together its international activities (Bics, Telesign and Route Mobile) under a new structure called Proximus Global, valued at 3.1 billion euros. This entity aims to become a world leader in digital communications, while simplifying its organization and stimulating its commercial growth.
Yesterday. Business. The Financial Services and Markets Authority (FSMA) has reached a settlement with Ikea Belgium for non-compliance with consumer credit regulations. The company will have to pay 25,000 euros and its name will be published on the website of the financial authority.
Yesterday. Banks. Moody’s, one of the world’s leading financial rating agencies, has downgraded the long-term ratings of seven French banks, including BNP Paribas, Crédit Agricole and Société Générale, to A1 from Aa3 previously. These ratings assess the creditworthiness of borrowers: A1 corresponds to high credit quality, but slightly lower than Aa3, which reflects better repayment capacity with even lower risk. This decision follows the downgrading of France’s sovereign rating to Aa3, due to a weakening of public finances.
