Bank

Fuel prices are so high that airlines are at risk of disappearing, according to Deutsche Bank

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On February 28, the United States and Israel bombed several cities in Iran, starting a conflict that has already spread to other countries in the Middle East, when Iranian missiles responded to Bahrain, Qatar, Saudi Arabia, Kuwait or Dubai and other emirates. One of the consequences has been the rise in fuel prices at a dizzying pace due to the paralysis of a key corridor for global energy: the Strait of Hormuz. The days go by, prices continue to rise and when something as strategic as oil rises, it is a matter of time before the accounts come together. Deutsche Bank warns: the sword of Damocles is on the neck of the airlines. The context. Bloomberg collects the information sent by the German financial institution to its clients: while the price of crude oil has increased by 50% so far this year, it is aviation fuel that takes the cake. The British Argus Media collects the price of the jet in recent days for the hubs of Chicago, Houston, Los Angeles and New York, where we see how it goes from 2.17 dollars per gallon on January 5 to 2.29 on February 5 until approaching 4 dollars per gallon on March 5 (3.95). In the United States, the price differentials between jet fuel and the price of crude oil range between $85 and $95 per barrel, equal to or higher than the cost of oil. That huge gap between the price of crude oil and that of refined products (called the crack spread) wreaks havoc. The last time a crack spread like this occurred was in 2005, when hurricanes Katrina and Rita. Why is it important. Because as the German entity highlights, 20 years ago the crack spread caused significant and widespread damage to the airline industry, which was the trigger for airlines to Delta Air Lines and Northwest Airlines filing for bankruptcy. The historical precedent sets off all the alarms. And Deutsche Bank is not alone: the CEO of United Airlines At the moment it has already warned that the increase in jet fuel prices will have a “significant” impact on first quarter results and that there could be an increase in air fares. Deutsche Bank analyst Michael Linenberg is forceful: Without immediate price relief, “some of the most financially vulnerable airlines could halt operations” and “airlines around the world could be forced to ground thousands of aircraft.” In detail. At the moment, airlines have plummeted on the stock market since the beginning of the conflict. American Airlines has lost 19% so far this year, but the blow is global: a group of 29 airlines, hotels and travel companies from Europe, Asia and North America together lost $22.6 billion in market capitalization in a single day, according to Reuters. In Xataka | The rocket and the pen: the theory that explains why the rise in gasoline is here to stay In Xataka | There is a hidden war to sell us the cheapest possible gasoline. One that Ballenoil and Plenergy already dominate Cover | Dawn McDonald and Daniel Shapiro

“Being a gossip” is enough reason for dismissal for the director of a bank branch

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They say that curiosity killed the cat, and if that curiosity belongs to the director of a CaixaBank office, it is most likely that her position is in danger. As an example of this, the person in charge of an office of that entity in a small town in Gerona who was fired for “gossiping” about the bank details of people in her town. The courts called it fraud and breach of trust. The case reached the Superior Court of Justice of Catalonia, which confirmed that the disciplinary dismissal It was completely justified. Curiosity killed the cat. As detailed in the sentence issued By the Catalan Superior Court of Justice, in November 2023, CaixaBank detected anomalous accesses to its customer database. The director of the Les Preses (Gerona) office had been accessing clients’ banking information without apparent justification. An internal audit revealed the magnitude of the problem: between November 3, 2022 and December 11, 2023, management had made inquiries about 170 different clients on 210 different days. The most serious thing was the pattern since of those 170 clients consulted, 84 were family members or people in their close circle, and 121 lived in the same town where the director lived. The searches were done mainly by first and last name, something very unusual in banking operations normal in which the user’s ID is used to avoid confusion between users with identical first and last names. The explanations that did not convince anyone. When the audit investigated the accesses, the director tried to justify herself. First he said it was common to review customer accounts at other offices to confirm that cash transfers between users had been completed correctly. He then stated that some customers had asked him for help because they had had access problems from the application of the mobile. But as more information became known, those excuses began to lose foundation. The bank confirmed before the court that the majority of those 170 clients had connected through the mobile application on the same day that the director consulted their accounts, which showed that they did not need its intervention. Without arguments, all he was left with was the truth: she was a gossip. Finally, the worker admitted that she had consulted this data because of “xafardería”, a Catalan term that means simple curiosity or gossip. She acknowledged that she had not done so at the clients’ request nor was she looking for specific information, but rather motivated by curiosity to know the payments and financial movements of her family, friends and neighbors. He also assured that I had not shared that information with nobody. However, this confession was not enough to save him from the consequences: immediate disciplinary dismissal. There was abuse of trust and the TSJC confirmed it. CaixaBank did not hesitate to act when the conclusions of the internal investigation were known. On January 31, 2024, he was notified of his disciplinary dismissal on the grounds that his actions constituted a “very serious breach of contractual good faith, fraud and abuse of trust”, in accordance with the provisions of article 54.2.d) of the Workers’ Statute and article 76.4 of the current Collective Agreement for savings banks and financial entities. The Social Court number 1 of Figueras supported this decision on July 26, 2024. The worker tried to appeal to the Superior Court of Justice of Catalonia, but the court rejected all her arguments. The court concluded that “there is no justification” for these consultations and that the conduct “contradicted the code of ethics and the confidentiality regulations that must govern a business as sensitive as banking.” The sentence left no room for doubt, declaring the dismissal proper and definitive. A lesson in trust and responsibility. As and how they stand out in the specialized environment Economist & Juristthis case leaves important lessons about how access to sensitive information in a financial institution is a privilege that carries responsibility. The director had received training on data protection and the code of ethics, so she was fully aware of the rules she was breaking. His position in the office gave him access to private data of hundreds of people, and used that access to sensitive information to satisfy simple curiosity. Due to the recurrence of the consultations, the courts understood that this was not an isolated case, but rather a deliberate pattern of conduct that violated the trust placed in it by the entity and its clients. In Xataka | The EU has once again taken a look at the Spanish labor market and has once again reminded Spain of something: firing is too cheap Image | Unsplash (Rodrigo Rodrigues)

from image bank to Adobe rival

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Tomorrow, November 20, our Xataka NordVPN Awards 2025which you can follow from our website. In them we will reward the most important devices and technologies of this year and for the first time we will present the special Xataka Award to the best Spanish technology company. The winner is Freepik, the Malaga company that has gone from being a bank of images and graphic resources to competing directly with Adobe and Figma. Omar Pera, its CPO, will accompany us during the gala. The pivotal moment: when DALL-E 2 changed everything Founded in 2010 in Malaga as a simple search engine for free images, Freepik served millions of users with a simple business model: facilitating access to graphic resources. “We started the company because we were making web pages and it took us a long time to find the image we wanted,” its CEO, Joaquín Cuenca, explained to us in an interview at the beginning of the year. The launch of DALL-E 2 in 2022 It was the turning point. Cuenca’s first reaction was visceral: “This makes what we are doing obsolete.” But he quickly came to a more important conclusion: “I saw him as unstoppable.” There was no debate about whether generative AI would transform their industry, but rather how to respond. The company went from marketplace from static content to develop your own video generation, editing and production tools. And the impact has been brutal: “Almost 50% of new subscribers, their first action is to do something with AI. A year and three months ago it was 0%,” Cuenca told us in February. “And more than 50% of existing subscribers are already using AI on Freepik.” Today Freepik serves more than 150 million monthly users with a complete ecosystem of tools: Freepik, Flaticon, Slidesgo, Wepik and Magnific AI. They already exceed 800,000 paid subscriptions. Own technology to avoid lawsuits Freepik developed F Liteits generative model trained exclusively with 80 million of its own commercially licensed images. It is a strategic bet to avoid the lawsuits that companies like Midjourney and OpenAI are having to face. Solid legal ground as a competitive advantage. Magnificenta Murcia startup purchased in 2024, went viral for its ability to increase the resolution of images without distorting details. Mysticits star model, competes with Ideogram and Midjourney. Regarding the latter, Cuenca is clear: “We have a lot of respect for Midjourney,” but he considers that Freepik is superior in adherence to the prompt because “Midjourney takes a lot of artistic license.” They are also clear about their position regarding OpenAI. For Cuenca, DALL-E “was a diversion from OpenAI”: “If you have the possibility of getting the best language model in the world in your company, everything else is a distraction. With that potential, starting to make images makes no sense.” It is precisely that distraction from the giants that opened a window of opportunity. The stone in the shoe Freepik’s commitment is to build an all-in-one platform instead of forcing the use of different applications: generation with several models, video with Google I see 3 (they became the first in the world to integrate Veo), complete editing, audio, conversion to SVG… “AI is very well aligned with what we want to do, and in fact helps us expand the catalog of things that we can solve for the user,” explains Cuenca. They no longer compete as much with Getty or Shutterstock as with Adobe and company. Video is the next frontier. “The video is now where the image was in 2023,” Cuenca told us. It still requires many iterations to achieve the desired result, but the room for improvement is enormous. Democratization from Malaga, without complexes Freepik believes that AI democratizes the creation of visual content, allowing businesses of any size to produce more engaging material without the need for large budgets or specialized equipment. And he does it from Malaga, without complexes. Although it has an office in San Francisco, its center of gravity remains in Andalusia. “From Malaga to Madrid is nothing, it’s two hours or so,” explains Cuenca, who considers that the real problem of Spanish entrepreneurship is not location: “We lack people who have good ideas, that is the main brake.” Freepik competes globally from there. It is one of the great successes of Spanish technology, and without a doubt the greatest national reference in generative AI. In just two years, Freepik completely reinvented itself: from distributor to developer, from marketplace to ecosystem, freemium An essential subscription for hundreds of thousands of creative professionals. A transformation that makes it worthy of the first special Xataka Award for the best Spanish technology company. Featured image | Xataka

Calls and SMS pretending to be our bank are the past, scams with AI cloned voices are the future: Crossover 1×26

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Scams are a lifeless thing. They surround us and they flood us because we have never been more connected and more distracted. And scammers and hackers know this and try to get more out of it. And that’s how it goes for us. We talk precisely about that reality in this episode in which Jaume Lahoz has as a special guest Maria Aperadoran expert in cybersecurity and criminology, and who makes an exhaustive review of the techniques that are most used to scam us. The ones before, and the ones now. Thus, it tells us about banking scams and identity theft, but also about the danger that the user faces when they install fake applications or when they resort to pirated software and broadcasts: in many cases, saving some money to watch a match or be able to play a video game can make let’s install some malware without realizing it and, of course, ending up being very expensive. But all these methods are now added the danger posed by artificial intelligencewhich allows cybercriminals to attack more and better than ever. especially with deepfakes and cloned voices that can end up convincing us… and ruining us. There are, of course, ways to protect yourself and to avoid possible scares. María Aperador tells us about all of them and opens a door to hope. As that one said, be careful out there. On YouTube | Crossover

As of October 9, transfers in the EU will no longer be the same. A new bank verification enters into force

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You open the bank’s app, choose “Transfer,” you go, you write the name of the recipient and confirm. Today, October 7, 2025, if that name does not match the holder of the account, the usual thing is that the payment is executed without alerts. As of October 9, that everyday gesture changes. In the EU, starting with the entities of the euro area, the bank must check if the name you enter with that of the IBA before authorizing the shipment. The idea is simple, that money reaches who owes. Until now, European banks were not obliged to verify whether the beneficiary’s name coincided with the IBA before executing a transfer. The system was based only on the account number, which allowed payments to be processed even if the name was not correct. Some countries, such as the Netherlands, had developed verification mechanisms such as the “Iran-Naam Check”, but there was no common norm. The new European regulation corrects that disparity and establishes a uniform procedure for the entire union. Three possible messages. When the bank taught the name and the Iban, the answer may be one of three. Total coincidence. If the data fully coincide, the transfer will be validated without additional notices. Partial coincidence. If there are slight differences (a changed letter, an absent tilde or an abbreviated name) an alert will appear indicating partial coincidence. In that case, the user may review the data or continue under their responsibility. Without coincidence. If there is no coincidence, the system will warn that the data does not quote, without showing the real name of the holder for privacy reasons. WARNING, DO NOT BLOCK. Receiving an alert does not mean that the payment is blocked. The system is designed to inform, not to prevent the operation. Even if the name and the IBAN do not coincide, the user will be able to move forward with the transfer under their own responsibility. What changes is the transparency of the process. Before it was not known if the data fit; Now the bank will show you before executing the shipment. The final decision will remain yours. People and companies. The verification is based on the identification data of the account holder. If the beneficiary is a natural person, the system will compare its name and surname as it appears in the receiving bank. In the case of a legal person (for example, a company or association), the verification will focus on the company name or the commercial name. The usual errors, such as tildes, abbreviations or second denominations, can generate partial coincidences, but will not prevent the transfer, as we mentioned above. Standard, immediate and periodic. Verification will apply to both standard and immediate transfers, without additional cost for the user. One of the payment entities that have detailed how the process will work is Nickel. As explainedperiodic transfers scheduled before October 9, 2025 will not be subject to the beneficiary’s verification, although its execution is subsequent. Only the coincidence in the new orders created from that date and once, at the time of configuring them, will be verified. Absence of verification. As Nickel also explains, it can happen that the system fails to check the name with the Iban. This ruling, the company points out, may be due to communication problems between banks or specific technical limitations. In that case, the entity indicates that it will also proceed with the transfer, without the system confirming the coincidence of the beneficiary. Nickel herself advises to cancel the operation if there are doubts about the recipient, especially when it comes to high amounts or unusual accounts. The origin of the measure is in the rebound of bank fraud in the last decade. The European institutions, headed by the Commission and the ECB, considered that the system knows a mechanism for verifying the beneficiary to prevent erroneous payments and identity robberies. With the new standard, each transfer will include an automatic verification that acts as an informative filter. It does not delay shipping, but offers a warning that did not exist before. Vishing, Smishing, Romance and BEC. Behind the regulatory change are the fraud that proliferate in Europe and that banks try to stop new verification tools. He Vishingfor example, use false phone calls to impersonate bank employees or authorities. He SMISHING It arrives by SMS with messages that simulate being from the bank or a shipping company. They have also extended The romantic scamswhere the victim’s trust is gained before asking for money, and the CEO fraudin which an alleged manager orders urgent and confidential transfers. Beyond the differences between modalities, almost all bank scams share the same pattern. They use psychological manipulation techniques to generate urgency, fear or trust, and rely on identity supplant to seem legitimate. In most cases, they seek to make the user a bank transfer, taking advantage of emotions such as concern, empathy or hierarchical pressure. The verification of the beneficiary does not eliminate these risks, but it can act as a pause that allows to detect the deception in time. Before clicking “Send.” Stop for a few seconds can make a difference. Before confirming a transfer, it is convenient to calmly review the name and I went from the recipient, especially if it is a new account or a recent change. If the bank notice indicates a partial or without coincidence, the most prudent is to verify the data by a different channel (a direct call or an official website). And, given the minimal suspicion, canceling is always better than regretting. The new system also reaches companies and professionals who make frequent payments. Each transfer will require confirming the coincidence between the name of the beneficiary and the IBAN, which will add a small step to the usual process. For companies, it can be an opportunity to reinforce their treasury controls and detect internal fraud attempts or supplier supplant. It is not a lock, but a filter of verification. What banks, what countries, what deadlines. The … Read more

The Spanish rail giant had planned to build a lightwail between Jerusalem and the West Bank. Now has a problem

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The Basque CAF It is found In the international view for its participation in the Jerusalem Railway Project, which connects Israeli settlements considered illegal by the United Nations. The pressure on the company has intensified after appearing cited in An official report of the UN on companies that benefit from the occupation. A dispute project. CAF has been part of a consortium with the Israeli Shapir since 2019 to build and expand the red and green lines of the Light Jerusalem Rail. The project, valued at 1.8 billion euros, includes 27 kilometers of new roads and 50 stations that connect settlements in the West Jerusalem. The Basque company would take more than 500 million euros for construction and equipment, in addition to its participation in management for 15 to 25 years. Why is it problematic. The UN Special Rapporteur, Francesca Albanese, has included to CAF in its report “of the economy of occupation to the economy of the genocide”, presented before the Human Rights Council. According to the document, these infrastructure “contribute to the maintenance and consolidation of illegal settlements” and connect the colonies with Israel “while excluding and segregating the Palestinians.” The Human Rights Council itself declared the project illegal in 2016 and 2017. The pressure intensifies. Amnesty International has been asking CA for years to leave the project. “CAF cannot continue looking the other way and not meet international recommendations,” affirms Esteban Beltrán, director of the NGO in Spain. The organization also claims the Spanish government and the Basque Government, a shareholder of the company, to evaluate the CAF links with “the illegal behavior of Israel.” Others are retiring. The case It is not isolated. In 2024, the Catalan Comsa withdrew from the consortium that had won the construction of the blue line of the Jerusalem tram. The Basque Acerera Sidenor also announced that it will stop serving steel to Israeli companies. International funds such as the Norwegian sovereign have retired their participations from Shapir, a partner of CAF, and the manager Storeband excluded CAF from his portfolio for his participation in the project. CAF’s response. The company maintains in its sustainability reports that “no violation of human rights has been detected” derived from their participation and describes the territories as “object of political controversy.” However, for international organizations, CAF is obviating the resolutions of the UN Security Council, the European Union and the International Court of Justice on the illegality of settlements. Between the lines. The project places CAF at a crossroads between commercial interests and international pressure. Your shareholders include to the Basque Government, Kutxabank, the Matrix of the Mayoral Textile and the workers themselves with 25% of the shares. Meanwhile, the geopolitical context has hardened after the attacks of October 7 and the Israeli response in Gaza, increasing international scrutiny over any company linked to occupied territories. Cover image | Alexander Berezhnoy In Xataka | Ryanair’s escape in small airports has taken Andalusia to a radical idea: his own independent “aena”

The Spanish bank seemed bored for the bag, but its last five years is superior to Apple and Microsoft

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Sabadell has risen more than 1,000% in the stock market in the last five years. Santander, 370%. Caixabank, 359%. BBVA, 492% Meanwhile, Apple – during most of this time, the most valuable company in the world – has grown 82% in the same period. Microsoft, 120%. The Nvidia of records1,267%. Why is it important. The Spanish bank has gone from being the ugly duckling of the stock market to star in one of the largest revaluation of the European market. This turn breaks the dominant story on a supposedly mature, boring and more narrow margins sector. The transformation has been silent but brutal. With the world of investment looking towards AI and technological ones, Spanish banks have multiplied their stock market capitalization without making too much noise. The context. It is true that the reference of five years has coincides with the minimums of the pandemic, when the IBEX 35 touched the 6,100 points in March 2020. But even taking references prior to Covid, the climbs remain spectacular. The interest rates They have been the final catalyst. After more than a decade with negative types that suffocated the bank margins, the turn of the ECB has returned the profitability to the traditional business: to capture cheap deposits and lend expensive. To contextualize: S&P 500 has risen 84% in the same period. The Nasdaq, 116%. Gold, 78%. Yes, but. This stock market explosion has gone quite unnoticed by the general public. The dominant narrative remains the one that speaks of traditional banking as a mature sector with Fintech and Neobancos competitive pressure. The reality is that traditional Spanish banks have generated returns that exceed many of the most celebrated technology. And now what. It remains to know if this rally still has a tour or if it has already touched the roof. With interest rates stabilizing and the Spanish economy showing some deceleration, it is possible that the best has already happened. But the banking sector has demonstrated something along the way: the boring can be very profitable. In Xataka | Revolution is not just a threat to traditional banks. Now it is also for Teleoperators Outstanding image | Joel Filipe

It has become the Central Bank of the AI

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Nvidia has gone from manufacturing graphics cards for Gamers First and Crypto miners later to become the referee of the technological future. His mastery of the chips market for ia gives him a power that goes beyond the business: he decides who can compete and who not in the AI career. Regulating the flow of critical resources towards companies that need them to survive gives it that capacity, as a kind of Central Technological Bank. The money trail. Nvidia controls more than 80% of the gpus market for AI (some sources They attribute more than 90%), with gross profit margins that They exceed 70%. But true power is not in the numbers, but in the waiting lists. OpenAI, Google, Meta and virtually any company that aspires to compete in the depend on chips H100 and H200 of Nvidia. The waiting time can be one semester and a year. The difference between getting them or does not determine who launches the next revolutionary model and who is left behind. Between bambalins. Jensen Huang, CEO of Nvidia, personally manages the most important chip assignments. A simple call of yours can accelerate an order or delay it indefinitely. It is a power that no technological executive had had before. Amazon and Microsoft have tried to develop their own chips to reduce dependence. The results so far are mediocre compared to Nvidia. AMD and Intel They try to gain ground, but they are still behind to train LLMS. China tries to create alternativesbut it’s back behind. Larry Ellison told that he, like Elon Musk and others, “begged” for accessing H100 at a dinner with Huang. Nvidia’s advantage is not just hardware, it is the software ecosystem (CUDA) that has been developing years. The big question. How long will this domain last? The history of technology tells us that no monopoly is eternal. But Nvidia has an advantage: every year that passes, its software ecosystem becomes more difficult to replace. The regulators They begin to pay attentionbut intervening in such a technical and strategic market is complex. And a geopolitical factor comes into play: slowing down Nvidia could mean giving advantage of China in the AI race. And now what. Nvidia continues to increase the distance with its competitors. Its new generation of Blackwell chips promises to be even more powerful. Meanwhile, companies that depend on their products have no choice but to accept their prices. And his times. It is a power comparable to that of a central bank: control the flow of the most valuable resource of the digital economy. The difference is that central banks have supervision and public mandates. Nvidia only responds to your shareholders In Xataka | Intel has a plan to recover his old glory. The problem is that carrying it will not be easy Outstanding image | Xataka

A bank convinced the people of a poor town in the US to spend their savings. Now it’s full of millionaires

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Stories of Lucky blows and Millionaires There are manybut they almost always have a common denominator: We speak in singular. Therefore, what happened in a small town in Florida whose families were going through serious difficulties to get ahead is so special. Even today, the enclave continues to look like a bland and inhospitable town. But do not deceive you, there is still a large number of millionaires among people. And all Thanks to Coca-Cola. Quincy and the banker. This is the name of the people of one of the most fascinating stories of the United States economy. There, in the midst of the great depression of the 20s and 30s and with part of the census in serious difficulties, a figure appears that was going to change everyone’s life. His name: Pat munroea cunning banker, a businessman who noticed a key detail to convince all citizens. It didn’t matter how impoverished they were in Quincy or how serious the financial situation of families was, the man observed that almost religiously, people spent until the last penny in a good glass of icy coca-cool. What if that devotion made it a blow of luck? Coca-Cola in the stock market. The sugary giant began to quote in stock market in 1919 to $ 40 the actionbut a conflict with the sugar industry and its bottlers caused a 50% drop soon, when it reached 19 dollars per share. In other words, there was a time in the story in which Coca-Cola quoted for less than the cash in the bank and its actions were extremely cheap. And among others, Munroe was at the right time. The bargain of the century. What did he do? Invest. The man He began acquiring Coca-Cola actions As if there were no tomorrow. However, he did not do it alone. He encouraged all his acquaintances and friends of acquaintances in the town to buy a participation in the company. Focusing on the final profits and the power of the brand, Pat Munroe continued and continued buying. And while doing it, he kept telling everyone who were willing to listen to him in Quincy who also bought. He took advantage of the confidence and respect that the community had towards him and undertook a crusade to get anyone who could go up to the Coca-Cola train. Loans for shares. The man was so sure of his success that every time a person went to his bank to ask for a loan, I encouraged him to accept another in exchange for actions. Farmers, shopkeepers, teachers: absolutely anyone who could spend money was tempted by Munroe. For the banker, that Coca-Cola’s action was at $ 19 each was an opportunity that no one in the city should escape. That is why he did not get tired of buying and, almost equally important, to stand firm in the decision regardless of the market fluctuations that occurred in the short term. The ball. Finally, the banker’s observations were a historical success. Quincy, an eminently agricultural city, not only remained afloat in difficult times thanks to Coca-Cola dividends, brought a wealth that is still studied in universities. In fact, the enclave became the richest city per capita in the United States for a while, and dozens of its inhabitants were nicknamed “the millionaire secrets of Coca-Cola”. People who trusted the good eye of Munroe and invested all their money (and the one they did not have), and who kneaded huge fortunes with those first actions, which then transmitted from generation to generation, making them the millionaire eponyms of Coca-Cola, some who, effectively, established whole dynasties of financial prosperity that transcended generations. How much we are talking. It is difficult to speak in total terms, but for us to get an idea of ​​money, in 2013 it was made An assessment study of what happened in Quincy. The results found that a single action with reinvested dividends were worth 10,000,000 dollars. $ 270,000 in cash dividends would be sent before taxes to the owner by sending a check worth $ 67,500 in March, June, September and November of each year. In this way, if the great -grandmother and great -grandfather on duty had acquired a round lot of 100 shares for between $ 1,900 and $ 4,000, depending on the purchase price, they would now have more than one billion dollars, excluding the effects of taxes on assets. Money for crisis. That investment has meant a lifeguard every time a hard time is approaching. When the local economy was supported by coca and the crisis arrived, tail dividends. In fact, these assets have supported the city in all recessions since then. When the crops failed, it was the money of the Coca-Cola that kept the people used. When the national economy collapsed, it was Coca-Cola’s cash that allowed people to remain in their homes. When the times were good and Coca-Cola was cheap, they bought more actions. Quincy today. It is a unique story, by unusual. All families that kneaded a fortune then passed it to their children and grandchildren, in some cases through direct donations and in others through the use of fiduciary funds. Even the bank where everything started has a Coca-Cola on exhibition And, until a few years ago, an amazing 65% of the fiduciary assets under administration were still invested in Coca-Cola shares. Quincy’s appearance today does not differ much from the era of great depression. It is still a quiet and eminently agricultural city with a population of less than 10,000 inhabitants. But do not fool your sight, some of the grandchildren whose families raised an empire, that of the secret millionaires of Coca-Cola. Image | Pxhere, Ebyabe, Pxhere In Xataka | The 100,000 million club: the exclusive group of 14 millionaires that has doubled its members in 2024 In Xataka | There are rich and ultra -ups: countries with more millionaires, centimillionaires and milmonarios of the world counted in a graphic *An earlier version of this article … Read more

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