Tuesday, October 22, 2013

Profit honored in foreign country

The share price of Spanish construction company FCC shot up over 10 percent on Tuesday to levels last seen in March 2012 on news that investment funds controlled by US business magnate and Microsoft founder Bill Gates have acquired a 6-percent stake in the company.
The move is being interpreted as Gates’ betting on the recovery of the Spanish construction sector, which was hit hard by the collapse of the real estate market in 2008 and sharp cuts in investment in public works as part of the government's austerity drive.
Maybe the news should be spread outside Spain;
All this leaves us fishing around for real figures as to the size of the worldwide Spanish diaspora, and González Ferrer’s report points us to 700,000 Spaniards since 2008, a conservative estimate by her count.
In the UK these data have Spain as the second biggest provider of immigrants, behind only Poland.
Anyone watching the heroic exploits of the English national team at Wembley last Tuesday will have heard the chanting of 25,000 Polish fans, making their voices heard in the country many of them call home.
As the crisis continues we’re sure to hear more Castellano in the streets and bars of London, Berlin and beyond.

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