Julia, Author at The Corner

Articles by Julia

In Spain 30th August 2024

Santander starts share buyback program of up to €1,525 million

Banco Santander informed the market yesterday that, in application of the bank’s current shareholder remuneration policy, consisting of a total shareholder remuneration target of around 50% of the group’s ordinary profit, distributed approximately equally between cash dividend and share buybacks, the board of directors has approved to implement a share buyback program to which an amount equivalent to around 25% of Santander’s ordinary profit will be allocated in 1H2024, a…

In the World 31st May 2024

European investors in China are facing weak demand, more competition and tougher regulations

Alicia García Herrero (Natixis) | China has long been a focal point for global companies, European ones included. However, a shift seems to be happening with foreign direct investment (FDI) into China, as it is now plummeting rather than booming. In fact, China’s inward FDI has turned to negative growth for the first time in 25 years. Several questions seem warranted when exploring this phenomenon. Firstly, the deceleration of FDI in…

World economy 14th May 2024

China’s luxury consumption story to stall against structural economic deceleration

Alicia García Herrero (Natixis) | China has become one of the most important luxury consumption markets for foreign brands, but economic headwinds may cloud the outlook. With rising purchasing power and appetite in luxury spending, Chinese consumers have become more relevant globally. This report addresses what to expect in China’s luxury segment amid structural economic deceleration and geopolitical tensions. Introducing Natixis China Luxury Consumption Index We aim to analyze the…

Spanish Politics 22nd April 2024

PNV wins Basque elections and will be able govern with PSOE’s support

The PNV has won the elections in the Basque Country with 365,634 votes (35.2%) and 27 seats (four fewer than it had); the same 27 seats (six more than it had) won by EH Bildu, the heir of the ETA terrorists (who laid down their arms in 2011) and which obtained 32.5% of the votes. The Basque Parliament will therefore be the most sovereigntist in history, with 68% of the…

Jerome Powell delivered an upbeat appraisal of the US economy

World economy 27th March 2024

March madness in global monetary policy

Benoit Anne (MFS Investment Management) | Last week, we witnessed some rather unusual activity among major central banks. Indeed, one central bank—the Swiss National Bank—delivered a rate cut, while another—the Bank of Japan—announced a rate hike. Sightings of unsynchronized monetary policy actions at the major central bank level are less frequent than sightings of UFOs in New Mexico. Not only that, but we are starting to get the sense of…

In Spain 14th December 2023

Spain executes only 18% of €37 billion European funds received

The official data shows that the final execution of the amount received by Spain is very low (18%), that the awarding of projects is decreasing (45% in 2021; only 39% in 2022 and barely 20% on 31 October 2023); and that the vast majority (88%) of the money for the projects (61 of those 100) goes to public institutions (Autonomous Regions, City Councils and public bodies such as Adif, for…

In the World 14th November 2023

Biden and Xi both have good reasons to end the summit with a -temporary- bang

Alicia García Herrero (Natixis) | The importance of the much-expected meeting between President Biden and President Xi in San Francisco cannot be understated, no matter the likely shallowness of the outcomes.The fact that there have only been two face-to-face since Biden took over from President Trump says it all about the importance of this encounter as the pinnacle of a series of meetings to step up dialogue between the two…

The second economic transition for Spain

In Spain 3rd November 2023

Autonomous Communities cry out against debt write-off agreed by PSOE and ERC: “What Catalonia does not pay, we all pay”

The majority of regional governments, including two of the PSOE, have criticised the cancellation of €15,000 million worth of debt. Castilla y León and Murcia have announced that they will take the matter to court. The confirmation that Pedro Sánchez has agreed to forgive €15 billion of debt to Catalonia, plus another €1.3 billion in interest, has triggered a cascade of reactions in the territories that consider it a comparative…

In the World 30th October 2023

Increasingly nervous BoJ due to overly weak Yen still not expected to move at October meeting

Alicia García Herrero | The Bank of Japan (BoJ) is in the spotlight once again. While the crisis in the Middle East deepens, higher oil prices have lifted the US 10-year Treasury yield beyond 5% although it has retrenched a little once again. At the same, the 10-year JGB yield is capped by the BoJ’s Yield Curve Control (YCC) at 1%. On the back of a further widening interest rate…

World economy 8th September 2023

Repsol enters US wind sector after buying ConnectGen for €715 million

Repsol has just announced the signing of an agreement to buy the US renewable energy development group ConnectGen for $768 million (around €715 million) from 547 Energy, the renewable energy development platform of Quantum Capital Group. According to the statement, with this transaction Repsol “strengthens its position as a global player in this energy sector, increases its international presence and contributes to its goal of reaching 20,000 MW installed by…

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