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.
shanghai raas

Grifols obtains authorizations for the alliance with Shanghai RAAS

Renta 4 | The Spanish firm has reportedly obtained the necessary authorizations from the United States (Sept. 30) and China (Nov. 13) to conclude the sale of assets between Grifols (GRF) and Shanghai RAAS (Chinese pharmaceutical company), which is expected to conclude before the end of the year.


venture capital

The venture capital boom is the private remake of the dotcom era

Yves Bonzon (Julius Baer) | One of the unintended consequences of zero / negative interest rates is the fuelling of a broad-based start-up / venture capital (VC) boom. This carries the seeds of a huge capital misallocation. Investors are relentlessly funding non-profitable companies on the hope of surfing the next disruptive business model. Yet, venture capital is a game of capital scarcity not of capital abundance.

 




city of london

United Kingdom, a Singapore by the Thames?

Olivier de Berranger (La Financière de l’Échiquier) |”Let’s have fun”. Have the words of President Charles de Gaulle been prophetic? He was against the United Kingdom’s entry into the Common Market in 1963… More than 50 years later, although the tribulations of Brexit may cause amusement or disappointment, the truth is that they have been poisoning investors’ lives for more than three years, by separating them from British stocks. However, the outcome of this endless soap opera could well change the situation.


Acciona

Acciona boosts renewable investments: 500MW in 2019, 1,110 MW in 2020-21

Bankinter | The main challenge of the group is the restructuring of Nordex. The market interprets this acquisition as a defensive movement to protect its investment in the turbine producer. A waiting period is now open to see if you are able to recover profitability with this injection of Acciona funds. This greater uncertainty could slow down the evolution of the stock.


European equities

The S&P 500 has gained 233% since 2010, as opposed to 92% for the MSCI Europe

Igor de Maack (Natixis) | Years of negative rates may well be coming to an end, with a reversal of investor sentiment for bonds over the last few weeks. In fact, the French 10-year rate is now verging on 0%. However, these years will leave their mark in terms of the extravagance of the monetary policies implemented for the purposes of “Saving Private Capitalism”, lost on the battlefield of excessive debt and driven into the trenches of complex finance.


xi jinping greece

Sino-Greek engagement: Path to ‘win-win cooperation’ is not always linear

Jens Bastian (MacroPolis) | There are a number of recent examples which illustrate that China’s growing footprint in Greece is not exclusively a success story. Some ambitious projects either remain in the planning stage or have failed, others are delayed; despite the vibrant promotional rhetoric between Athens and Beijing.



Spain inflation

Eurozone’s macro adjustment – (mostly) Checked

The best indicator of activity in the Eurozone is not the PMIs, but the Sentix Index, the investor sentiment meter: although it is true that it is still at low levels, it just experience the highest rise since August 2009.