Wednesday, December 13, 2017
Business

Spain bailout not imminent

BRUSSELS — A possible bailout for Spain is not imminent, a European Union official said Friday, as concerns grow over the country's ability to reach its deficit-reduction targets.

There's no guarantee that Prime Minister Mariano Rajoy will ask for aid from the EU rescue funds and he's facing a challenge to deliver the budget-deficit cuts pledged, the aide, who asked not to be named by Bloomberg News, told reporters in Brussels.

While European Central Bank President Mario Draghi said Thursday that the ECB is ready to start buying bonds of sovereigns that qualify for aid, officials from Spain, Germany and now the EU have dampened expectations of a rescue this week. Rajoy on Tuesday denied reports that a rescue request would come this week. Economy Minister Luis de Guindos on Thursday night said no bailout was needed.

There's "a potential slowdown in Spain's application for a European program," Thomas Costerg, an economist at Standard Chartered Bank in London, said by email. "There is a rising fear that the 2013 budget and the stress tests may have been some sort of window dressing to get European assistance."

Spain's 2013 budget assumes the economy will shrink 0.5 percent, less than the 1.3 percent median contraction predicted by 21 analysts surveyed by Bloomberg. Luis Maria Linde, the Bank of Spain governor, said targets were "certainly optimistic" in testimony to the parliament's budget committee.

Deputy Finance Minister Fernando Jimenez Latorre said a larger-than-expected contraction next year won't affect Spain's ability to meet its budget commitments. Spain is still analyzing the possibility of asking for a bailout, he added.

Comments
Florida hospitals call for more funding in effort to address looming doctor shortage

Florida hospitals call for more funding in effort to address looming doctor shortage

The number of doctors practicing in Florida has not kept up with the state’s surging population growth, and more money is needed to recruit and keep them here, hospital leaders said Wednesday.The shortage is particularly acute in four speciality area...
Updated: 1 hour ago
Allegiant Air mechanics ask to be represented by Teamsters

Allegiant Air mechanics ask to be represented by Teamsters

Allegiant Air mechanics filed with the federal government Wednesday to be represented by the International Brotherhood of Teamsters. If the petition is passed, the union would negotiate on behalf of the mechanics and related technicians on issues suc...
Updated: 2 hours ago
Federal Reserve boosts key interest rate for third time this year

Federal Reserve boosts key interest rate for third time this year

WASHINGTON — The Federal Reserve is raising its benchmark interest rate for the third time this year, signaling its confidence that the U.S. economy remains on solid footing 8˝ years after the end of the Great Recession. The Fed is lifting its short-...
Updated: 6 hours ago
Pasco Business Digest for Dec. 15

Pasco Business Digest for Dec. 15

Business digestWho’s newsHOSPITAL APPOINTS ASSISTANT CHIEF NURSING OFFICER: Registered nurse Courtney Stephenson, board certified nurse executive advanced, was recently appointed assistant chief nursing officer at Medical Center of Trinity. Stephenso...
Updated: 8 hours ago

Hernando Vendors for Dec. 15

Vendors are needed for the following nonprofit events:• Vendors and volunteers are being sought for a National Homeless Persons’ Memorial Day event from 8 a.m. to 3 p.m. Dec. 21 at Crescent Community Clinic, 5244 Commercial Way, Spring Hill. During t...
Updated: 8 hours ago
Tampa airport ranks No. 4 for most affordable parking rates

Tampa airport ranks No. 4 for most affordable parking rates

TAMPA — Holiday flight prices may be high, but parking rates at Tampa International Airport are a little more manageable. TIA has the fourth-cheapest parking rates in the country, a study by travel and expense app company TravelBank said. TIA, the st...
Updated: 8 hours ago

Hernando Business Digest for Dec. 15

EventsDISCOUNT OFFERED TO THOSE WHO DONATE TO HELP HOMELESS: In advance of National Homeless Persons’ Memorial Day, BonWorth clothing store, 12987 Cortez Blvd., Spring Hill, will offer a 10 percent discount on purchases to those who donate unwanted c...
Updated: 8 hours ago
Target aims to boost same-day delivery by acquiring Shipt

Target aims to boost same-day delivery by acquiring Shipt

NEW YORK — Target plans to boost its same-day delivery capability by paying $550 million for Shipt, its latest move to try to catch up with Amazon. Shipt delivers groceries to its members, who pay $99 a year. Target says it will add more products to...
Updated: 9 hours ago
Spirit Airlines names new president, CEO for 2019

Spirit Airlines names new president, CEO for 2019

Spirit Airlines, the South Florida-based budget airline, is gearing up for new leadership. Bob Fornaro, president and CEO since January 2016, will step down from his position in early 2019. He will be succeeded by Ted Christie, the airline’s current ...
Updated: 9 hours ago
Three things to watch for at the Federal Reserve meeting today

Three things to watch for at the Federal Reserve meeting today

WASHINGTON — On the day when Janet Yellen will hold her final news conference as Federal Reserve chair, the Fed has left little doubt what it plans to do Wednesday: Raise its benchmark interest rate for the third time this year. The increase would be...
Updated: 10 hours ago