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Articles by The Corner

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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.
optic fibre

Spanish economy 28th September 2021

Spain To Spend €250 M To Extend Ultrafast Broadband To The Whole Country

Invest in Spain | The new Universalisation of Digital Infrastructures for Cohesion Programme (UNICO) is the framework for measures and investments that will guarantee ultrafast broadband connection throughout the country, covering 100% of the population by 2025. The first call launched by the Ministry of Economic Affairs and Digital Transformation is aimed at telecommunications operators whose objective is the deployment of very high speed broadband infrastructures, capable of providing services at speeds of at least 300 Mbps, scalable to 1 Gbps.

ImpliedFedFundsTargetRate

World economy 27th September 2021

Fed Signals Faster Tapering In 2023 But Under-Delivers On Next Year’s Dot Plot

Simon Harvey (Monex Europe) | While every sell-side analyst didn’t expect the FOMC dot plot to signal a rate hike in 2022, markets had other thoughts. While two members shifted their expectations to move the median dot plot to signal rates at 0.3% in 2022, this under-delivered in the eyes of rates markets. The price of eurodollar 2022 futures rose, in turn lowering the expected interest rate, while risk was…

Christian Lindnerok

European economy, Relevant News Item 27th September 2021

Germany: Christian Lindner’s Liberals Hold The Key

Olaf Scholz, vice-chancellor and leader of the SPD, the German Social Democrats, won the German elections yesterday with 25.7% of the vote. He came in ahead of Armin Laschet, Merkel’s successor in the CDU, who won 24.1% of the vote. Annalena Baerbock’s Greens, with 14.8%, will be the third force, and have already shown their preference for a government with the SPD. But it is Christian Lindner’s Liberals, with 11.5%…

energy sector

European economy 27th September 2021

Europe’s High Energy Prices, Explained

Nick Ottens (Atlantic Sentinel) | The continent faces a perfect storm involving accidents, depleted reserves and decreased Russian supply. Electricity prices are hitting records across Europe. In Portugal and Spain, wholesale energy prices have tripled from half a year ago to €178 per megawatt-hour. Italy is not far behind at €176. Dutch households without a fixed-price contract could end up paying €500 more this year. In the UK, prices peaked…

european electricity market

Spanish economy 27th September 2021

The EC Rules Out Major Regulatory Actions To Combat Pricing System; Spain Is The Only Country To Tackle This

The Spanish government sent a letter last week to the European Commission, in which it urged the region to adopt a common response to the electricity problem at the European level. The letter called for a reform of the wholesale electricity market and the creation of a European gas purchasing platform and strategic reserves. However, the institution dismissed Spain’s request. It will limit itself to guiding member states on measures to temporarily reduce the electricity bill within the margins of EU regulations.

Today’s German election is likely to be one of the most open contests in decades

Relevant News Item 26th September 2021

Germany After Merkel: What’s Next?

Azad Zangana (Schroders) | Today’s is a major milestone election for Germany, and many will be keeping a close eye on the outcome. In any case, though we should see the results soon, negotiations to form the next coalition are likely to take several months given the potential wide range of combinations on offer. The new chancellor may not be inaugurated before 2022.

An ammonia storage facility

World economy 25th September 2021

Ammonia, Not Just A Question Of Colours

Mirabaud | When electricity needs to be produced, the cheapest energy sources are used first: wind, solar and hydro. If they are not available, more expensive energies are added: lignite, nuclear, coal, gas and,finally,green ammonia.
You may ask, rightly, what green ammonia has to do with this list of energies. Scientists recently discovered a potentially revolutionary feature of ammonia by using it as an energy source.

Goldman Sachs 1

Spanish economy 24th September 2021

Vinos García Carrión Claims €75 Million From Goldman Sachs

According to a report by Javier Romera in the newspaper El Economista, the Murcian wine company is going to request the appearance of John Waldron, President and Chief Operating Officer of the group worldwide, David Salomon, CEO worldwide, Alvaro del Castaño, General Manager in Spain, and Jaime Suarez, Executive Director of Corporate Derivatives, before the Court of Instruction number 2 of Jumilla (Murcia). They are to testify about the execution…

Catalonia independence declaration

European politics 24th September 2021

Italy Arrests Puigdemont In Sardinia, A Fugitive From Justice Since 2017

Last night the Italian authorities arrested in Sardinia the former president of the Catalan Government Carles Puigdemont, a fugitive from justice since 2017. The Catalan leader, who as soon as he was arrested was taken to the police station at the city’s airport, was wanted on the basis of a warrant issued by the Supreme Court. Puigdemont had travelled from Brussels to take part in the Aplec Internacional Adifolk, an…

spanish GDP

Spanish economy 24th September 2021

Spain’s Final Q2’21 GDP Marks A Year-On-Year Increase Of 17.5%, Still Below Estimates Of 19.8%

According to National Institute of Statistics, Spanish GDP registered a rise of 1.1% in the second quarter of 2021 with respect to the previous quarter in volume terms. This rate is 1.7 points higher than that recorded in the first quarter and 1.7 points lower than that reported on 30 July. The year-on-year change in GDP stands at 17.5%, compared with -4.2% in the previous quarter. This rate is 2.3 points lower than that recorded on 30 July.