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.
cityscape at sunset 1

Bank of Spain warns government that housing policy – rent cap etc. – is having opposite effect to that intended

The Bank of Spain reviews the main real estate measures promoted by the Government, both in the purchase and rental segments, and concludes that they could end up resulting in an increasingly smaller market with higher prices. The BdE analyses rental price controls, a measure introduced temporarily by the decree on anti-crisis measures after the Russian invasion of Ukraine but made permanent by the housing law passed in April last…


telefonica alemania2

Telefónica controls 96.85% of Telefónica Deutschland, now delisted on Frankfurt Stock Exchange

Telefónica, through Telefónica Local Services GmbH, announced on Tuesday that it owns 96.85% of the shares of Telefónica Deutschland, following the completion on April 18, 2024 of the tender offer for the public tender offer for the acquisition of Telefónica Deutschland, announced on March 7, 2024. The total number of shares acquired amounts to 74,338,954 shares, representing approximately 2.5% of the share capital and voting rights of Telefónica Deutschland, for…


endesa cartel

Endesa to invest €71.5 million in infrastructure inspection and grid improvements

Link Securities| The company, through its Redes subsidiary, will spend €71.5 million this year on infrastructure inspection, grid improvements and selective pruning work with the dual aim of ensuring continuity of supply and reducing the risk of fires, especially in the summer period, according to the Bolsamania.com portal. The investment in the so-called “Summer Campaign 2024” is 21% higher than in the previous year and places special emphasis on cleaning…


IAG

IAG pays off €3,271 M of loans signed between 2020 and 2021 due to mature between 2024 and 2026

Link Securities | IAG (IAG) has repaid €3,271 million of debt loans that its various airlines signed between 2020 and 2021, which matured between 2024 and 2026, according to Expansión newspaper. The average cost of these loans stood at 9%, compared to the 4.5% – 5.25% that is currently the price of money in Europe and the UK. With the flow of income normalised, thanks to the increase in demand,…


Talgo diferente

Securities Market Commission accepts Magyar Vagon’s takeover bid for Talgo

Renta 4| The National Securities Market Commission (CNMV) has announced that it has admitted Magyar Vagon’s takeover bid for Talgo (TLGO) as it considers that the prospectus and other documents submitted comply with the provisions. At the same time, it indicates that this does not imply a pronouncement regarding the authorisation of the takeover bid, a circumstance on which it must pronounce in accordance with the deadlines and other requirements…


Renault

Renault sells 549,099 vehicles in 1Q24 (up 2.6%) and confirms profit outlook for 2024

Norbolsa| Renault increased its sales in 1Q24 thanks to its financing division (up 27.9% year-on-year) and confirms its profit outlook for 2024. The company sold 549,099 units in Q1, 2.6% more than in the same period of 2023, registering a 1.8% increase in Q1 revenues to €11.7 billion, above estimates of €11.49 billion. Renault reiterated its guidance for FY24, with an operating margin target of at least 7.5% and FCF…


enagas logo

ENAGAS increases 1Q24 profit by 19%

Total demand for natural gas fell by -4.0% in 1Q2024 compared to the same period in 2023. But the company’s total revenues as of 31 March 2024 remained the same as in 1Q23: €220.5 million. EBITDA at 31 March 2024 stood at €178.3 million, 2.7% higher than in 1Q2023 and on track to meet ENG’s annual target of €750 – 760 million. EBIT decreased by 3.1% year-on-year in 1Q2024 to…


Spanish public debt

Public debt rises by €19.549 billion to €1.6 trillion in February

The debt of public administrations as a whole rose by €19,549 million in February compared with the previous month (+1.2%), reaching €1,602,662 million, a new record high, according to data published yesterday, Monday, by the Bank of Spain. This rise means that the debt of public administrations exceeds the barrier of €1.6 trillion for the first time in history, above the record reached in January of €1.583 trillion. In the…


iberdrola electrolinera

Iberdrola|BP pulse wins €50.1m European grant for deployment of electric recharging points

Alphavalue / Divacons | The company formed by Iberdrola and bp pulse, Iberdrola|bp pulse, has been awarded a €50.1 million grant to accelerate the deployment of electric recharging infrastructure under the European Commission’s ‘CEF Transport AFIF 2021-2027’ programme, the company said on Thursday. The subsidised project includes the deployment of 1,220 high-power charging points between 2023 and 2026 on the TEN-T transmission network in Spain and Portugal.


Spanish banks

House sales up 5.8% in February, breaking 12 months of declines

CdM| Home sales and purchases break the streak of 12 months of consecutive falls. In February, a total of 52,796 transactions were registered, representing a year-on-year growth of 5.8%, according to data from the National Statistics Institute (INE). Of the dwellings transferred by sale and purchase in February, 21.8% were new and 78.2% were used. The number of transactions on new homes increased by 20.8% compared to February 2023, which…