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.
Sabadell

Sabadell Agrees The Sale To Cerberus Of €9.1 Bn Real Estate Assets

Sabadell has just announced the sale of real estate assets to the fund Cerberus for 9.1 billion euros. The assets have been given a net value of 3.9 billion euros, which means Sabadell will have to make provisions for 92 million euros. Cerberus will hold 80% of the joint Enterprise called NewCo, leaving Sabadell with 20%. Specifically, the operation has been structures through the issue of two portfolios of real estate assets commercially named “Challenger” and “Coliseum”.


DeutscheBank3

Are Deutsche Bank´s optimistic results expectations misleading?

German main bank expects to report pre-tax profits of around €700 M and a net profit of €400 M for the second quarter of 2018. However, some analists do not agree with Deutsche Bank´s optimism. For example Alphavalue points out that the bank has shown sleight of hand in selling results that appear better than they are.




Spanish banks 's 2Q18 results season will start on July 25th

Spanish Banks Will Present Results Amidst Concerns Of Potential Bank Tax

Spain was a well-liked region within European banks until the new government came into place. As Morgan Stanley points in a note to investors, “the negative noise around a potential bank tax and the doubts on the fiscal plans have hit the sector.” Santander will kick off the 2Q18 results season on July 25th with all the eyes on its capital position and headwinds from Latam currencies. Issues like Turkey in BBVA and TSB in Sabadell have provided more downside to some of these names.


euro-dollar relationship

How Does The Euro Fit In The Currency Puzzle?

Where the euro may go in 2018 is such a central question and will have implications for global asset markets around the world. Christopher Gannatti, head of research at Wisdom Tree, thinks that “forecasting currencies is very much like putting together a puzzle”, at times requiring just as much art as data.



The transition probabilities of Brexit

Transition Probabilities For UK: Hard Brexit Only 10%

What will happen? Is the debate more economic or political? What probability is there that in the end there is no Brexit? According to the economist oat Morgan Stanley in the UK, former Treasury Secretary of Tony Blair, there is a 60% chance of a soft Brexit or “partial integration of the UK in the EU”.


de globalization

Countries Rotate At Trump’s Rhythm

The performance rating of countries for the last month demonstrates the concerns of investors about the price to be paid for a de-globalization of the world by those countries whose companies focus on exports. Alphavalue offers a ranking of these countries according to its coverage


ElectricityTC

Total Enters The Gas And Light Business In Spain

The French company Total has burst in to the race launched in Spain by the oil companies to offer electricity and gas services to all kinds of clients, in direct competition with the big electricity and gas companies like Endesa, Iberdrola and Naturgy.