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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.
ACS novisimo

Relevant News Item 6th December 2024

ACS, through Turner, forms part of consortium to build data centres for Meta in US for €9.5 billion

Intermoney | ACS (Buy, PO €48), through its US subsidiary Turner, is part of a consortium of contractors that will build a large data centre complex in the US state of Louisiana, which will require an investment of around €9.5 billion, according to Expansión newspaper on Thursday. Other developers involved in the project include DPR and Morterson. According to Turner, the new 122,000 square metre campus will be Meta’s largest…

Caixabank kio 2

In Spain 6th December 2024

Caixabank CEO warns banking tax will reduce volume of credit and make it more expensive

Link Securities | Caixabank (CABK) informed the National Securities Market Commission (CNMV) that the rating agency Fitch Ratings Europe Limited (Fitch) has upgraded the following credit ratings of the Bank: Long-term issuer rating to A- from BBB+. Senior preferred debt rating to A from A-. Non-preferred senior debt rating to A- from BBB+. Subordinated Tier 2 debt rating to BBB from BBB-. Derivatives counterparty rating to A(dcr) from A-(dcr). Long-term…

China EEUU choque

In the World 6th December 2024

US launches third package of microchip restrictions, China bans export of certain rare earths and key minerals

Banca March: In the intensifying trade disputes between China and the US, the US has launched the third package of microchip restrictions and China has responded by banning the export of certain rare earths and key minerals. The Asian giant has focused its retaliation on blocking shipments of gallium, germanium, antimony and graphite to the United States. Germanium is used in semiconductors, infrared technology, fibre optic cables and solar cells….

Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

In Spain 5th December 2024

Spanish students fall behind in Maths and Science: 28th out of 32 in EU and OECD ranking

The TIMSS study, the second largest international assessment, comparable in magnitude to the PISA report but focused on fourth-grade students aged 9 and 10, brings bad news for Spain, which ranks 28th in mathematics among the 32 participating OECD or EU countries. Castilla y León and Asturias occupy the top positions, while Catalonia is again at the bottom.This is reflected in the 2023 International Study of Trends in Mathematics and…

Cyber Monday

In the World 5th December 2024

Cyber Monday online sales reach $13.3bn, increasing 7.3% against 5.8% in 2023

Bankinter | Cyber Monday online sales total $13.3 billion according to Adobe Analytics, increasing 7.3% against 5.8% in 2023. During the five-day period between Thanksgiving Day and Cyber Monday, online sales totaled $41.1 billion, 8.2% up on the same period last year. On these days, the National Retail Federation (NRF) estimates that total spending (physical + online sales) amounted to $235 billion, showing an increase of 3.5%. For the entire…

Talgo diferente

In Spain 5th December 2024

India’s Jupiter Wagons potentially interested in Talgo

Banc Sabadell | Indian manufacturer Jupiter Wagons (19.24% owned by Slovakian train manufacturer Tatravagonka), which designs passenger cars, freight wagons and parts) is reportedly in contact with various players involved in the Trilantic succession process to apply to become an industrial partner (without control), according to elEconomista. No further details have been given on the status or scope of the negotiations. Assessment: The appearance of more interested parties would be…

alemania empleo agencia

European economy 5th December 2024

Eurozone unemployment rate remains at record low of 6.3% in October

Bankinter: The October Unemployment Rate repeats at 6.3%, as expected. No surprises and no market impact. In any case, it is an excellent historical low level within a slightly downward trend during the last years. Eurostat estimates that in October 10.841 million people were unemployed in the Eurozone. Compared to September, unemployment decreased by 3,000 people in the Eurozone. Compared to October 2023, unemployment decreased by 411,000. By Eurozone countries,…

Spain tourism

In Spain 4th December 2024

Tourism in Spain up 10.8% to record levels – 83 million visitors by October

Spain received 82.9 million tourists by October, which represents a 10.8% increase compared to the same period last year, according to data from the National Statistics Institute (INE). This data also shows that these tourists spent €110.984 billion in our country, an increase of 16.8%.The main source countries were the United Kingdom, which sent 16.5 million tourists (a 7.1% increase), France (with nearly 11.5 million and an 11.1% increase), and…

Molins

In Spain 4th December 2024

Cementos Molins: first listed company to return to Catalonia after ‘procés’

The board of directors of the cement group has unanimously agreed to return its headquarters to Catalonia, as announced in a statement sent to the National Securities Market Commission (CNMV).Seven years later, Cementos Molins is leaving its current headquarters on the Paseo de la Castellana in Madrid, where it moved its tax residence, and is returning to the town of Sant Vicenç dels Horts in Barcelona, marking the first return…

CAF factory

In Spain 4th December 2024

CAF awarded second batch of trains for Metro de Madrid for more than €400 million

Bankinter | CAF (CAF) announced on Monday the award of the second batch of trains, some 40 narrow gauge trains, for Metro de Madrid, which will cost more than €400 million. The first batch was also awarded to CAF in June 2024. Opinion of Bankinter’s analysis team: Good news after a weaker than expected third quarter. This contract represents 3% of the total order book. In addition, this second batch…