Articles by The Corner

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.
morocco inmigration

Immigrants – 8.8 million people – account for 18.1% of the population in Spain

In January 2024, the highest recorded number of foreign-born residents in Spain has been reached, 8.8 million people, according to data from the Continuous Population Statistics, analysed by Funcas in the latest Focus on Spanish Society. This figure represents 18.1% of the population, one percentage point more than in 2023, distributed very unevenly among the autonomous communities. The highest percentages correspond to the Balearic Islands (27%), Catalonia and Madrid (24%),…


Applus

European Commission requires Amber EquityCo to apply for formal clearance for Applus+ takeover

Alphavalue/DIVACONS | The European Commission required Amber EquityCo, a consortium formed by the private equity funds I Squared and TDR, to submit a formal request for authorisation for its takeover bid for Applus+ (APPS) on the understanding that this transaction must be analysed in the light of the foreign subsidies regulation. In mid-September, Amber launched a takeover bid for 100% of Applus+ at a price of €9.75/share to compete with…


Amazon Bezos

Insiders beware! When Bezos, Zuckerberg or Dimon sell…

Banca March| The insiders’ sales, which they are taking advantage of to make profits, should be taken as a sign of caution about the future performance of some companies. The high accumulated profitability of the Magnificent Seven and other companies is in any case being exploited by the insiders, top managers or owners, to make capital gains. In the last month, $9.3 billion was sold under this heading. The ranking…


spain

Moody’s upgrades Spain’s outlook from positive to stable for more balanced growth model

Bankinter| Moody’s with Spain’s credit rating at Baa1 raised its outlook to positive from stable. S&P maintained its rating at A with a stable outlook. Moody’s outlook upgrade is based on a more balanced growth pattern, low private sector leverage, a robust banking sector, a stronger labour market and current account surpluses. S&P maintained its credit rating and stable outlook on the back of “resilient” economic growth, although it notes…


DIA supermarkets

DIA closes 60% of shops in Brazil due to persistent negative results, focus now on more profitable São Paulo area

Renta 4| According to a Relevant Fact issued in the Spanish National Securities Market Commission (CNMV) and a letter from its CEO, Martín Tolcachir, DIA has announced the closure of 343 of its 590 shops in Brazil, in addition to three warehouses. The Company takes the decision as part of the strategic review of the business in the country, already announced at its results conference on 29 February, and as…


caf cartel fachada

CAF wins contract to supply 10 commuter trains in Netherlands

Link Securities| The Spanish industrial company CAF (CAF) announced on Friday that it has been awarded a new project in the Netherlands. The public transport operator Qbuzz, part of the FS Group, has chosen CAF to supply 10 commuter trains and their corresponding fleet parts, which are scheduled for delivery from 2028 onwards. Qbuzz is a public transport company in the Netherlands serving the Groningen-Drenthe region, the city of Utrecht…


Spain

In 2023, investment in fixed capital grew by 0.9% in the euro area and, in Spain, by 0.6%

Oriol Aspachs (Caixabank Research)| Investment is back in the spotlight. It is becoming increasingly clear that the rapid rate of technological change and the emergence of new countries with the capacity to compete globally, especially China, will leave those economies that fail to update their productive fabric behind. Moreover, this is happening in a context of growing distrust of multilateral institutions and, in general, between the various economic blocs. Even…


3. Public debt

Spain’s public debt (€1.4 trillion) growing at 7.8%

According to data from the Bank of Spain (BdE), the debt of the State as a whole amounted in January to €1,422,968 million, a year-on-year increase of 7.9%. The regional governments increased their debt by 2.7% to €324,146 million. In turn, local corporations increased their indebtedness by 1.6% year-on-year in January to €23,212 million, while Social Security debt rose by 9.4% to €116,172 million. Finally, the debt of other central…


Repsol entrada

EIA now forecasts world crude oil demand to average 103.2 M b/d in 2024: favourable environment for Repsol

Renta 4| The US Energy Information Administration revises its supply and demand and crude oil price estimates for 2024. In its March edition of the Short-Term Energy Outlook, the US Energy Information Administration (EIA) said it expects Brent crude oil prices to average 88 usd/b in the second quarter of 2024, up 4 usd/b from February, estimating Brent crude oil prices to average 87 usd/b in 2024, up from 82.4…


caixabank2

Caixabank approves share buyback programme for maximum €500 M of treasury shares

Link Securities| As reported in a Significant Event sent yesterday to the Spanish National Securities Market Commission (CNMV), the Board of Directors of Caixabank (CABK) has agreed to approve and initiate a programme to buy back its own shares for a maximum amount of €500 million. The objective of the programme is to reduce Caixabank’s share capital following the redemption of the treasury shares acquired. The capital reduction may be…