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.
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Volkswagen Board presents “Future Plan” for strategic realignment

Report by Banco Sabadell The German car manufacturer has announced the main thrusts of its strategic realignment plan for 2030, which it has named “Future Plan”; we highlight the following points: ▪ A commercial reorientation towards products with greater strategic importance, which will involve a 75 per cent reduction in vehicle variants. ▪ A reduction in production capacity to 9 million vehicles per year (compared to 12 million before the…


Acciona nuevo

Entrecanales family allow their pre-emptive right agreement regarding company’s shares to lapse

Report by Bankinter The two branches of the Entrecanales family, which jointly own 55 per cent of Acciona’s share capital through various companies, will allow the agreement relating to pre-emptive rights over the company’s shares to lapse. Tussen de Grachten BV, the company through which the Entrecanales Franco branch controls 29.02 per cent of Acciona, announced in January last year – one and a half years in advance, in accordance…


OCDE

69% of world’s 10,000 largest listed companies have made commitments to OECD’s principles on corporate responsibility

Reported by Consejeros Editorial Team To mark the 50th anniversary of the OECD Guidelines for Responsible Business Conduct, the organisation has published a report highlighting the level of corporate commitment to human rights, sustainability and governance in each region of the world. According to this document, of the 10,000 largest listed companies, 69 per cent have made commitments to social, environmental and governance standards, although there are significant differences by…


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Earnings season getting underway, and will be key to validating stock market valuation multiples

Report by Renta 4 European markets opened lower (Eurostoxx 50 futures down 0.4%), reflecting yesterday’s declines on Wall Street, which were centred on the technology sector (Nasdaq down 1.9%) and against a backdrop of a deteriorating geopolitical situation in the Middle East. US futures are rebounding slightly (S&P up 0.1%, Nasdaq up 0.4%). Of particular note is yesterday’s sharp rise in Brent crude – up 10% – to $83 per…


immigration

Two thirds of Europe’s population growth driven by Spain

According to Eurostat, the EU’s population grew by 705,756 people last year, and 461,800 of them reside in Spain. Therefore, Spain contributed two out of every three new residents in Europe—whose total population has climbed to 451.9 million (5.6% of the world’s population)—even though the country only accounts for 10.9% of the European population (it is projected to reach 50 million by the end of the year). The Role of…


ibex 35

In session characterised by recalibration rather than panic, Ibex 35 falls just 0.3%

Report by Singular Bank European stock markets managed to stabilise with minor declines despite the latest episode of tension between the US and Iran and the rise in Brent crude above $79. The session was one of recalibration, not panic: the energy sector provided support, whilst the technology sector once again bore the brunt of selling. The IBEX 35 fell by 0.3%. In Europe, the Euro Stoxx 50 remains stable….


intangibles

Value of intangible assets up from less than 30% to 60–90% per cent of a company’s total value over past 15 years, according to Corporate Excellence

Reported by Consejeros Editorial Team The management of companies’ intangible assets – such as brands, patents, software, customer relationships and human capital – and of the reputation economy has been the backbone of the Corporate Excellence business foundation, which has just celebrated its 15th anniversary. On such a significant occasion, the organisation believes it has achieved its objective of making intangibles the centre of business strategy. During this time, intangibles…


Hynix Korea

South Korean chipmaker SK Hynix’s IPO on Nasdaq becomes largest by foreign company on Wall Street

Reported by Consejeros Editorial Team SK Hynix’s ADRs began trading on Friday on the Nasdaq through an offering valued at 40.02 trillion won, equivalent to approximately 26,507 million dollars (around 2.45 per cent of the share capital) at a price of $149 per share. With these figures, the deal becomes the largest IPO by a foreign company on Wall Street since Alibaba’s in 2014, and the third-largest of any kind…


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Funcas Panel raises growth forecast for Spain to 2.3 per cent due to economy’s resilience up to June

Reported by Consejeros Editorial Team The Funcas Panel has revised its growth forecast for this year upwards by one-tenth of a percentage point, to 2.3%. The revision reflects the resilience shown by the Spanish economy in the second quarter, with growth estimated at 0.5%, one-tenth of a percentage point higher than expected in the previous Panel forecast. However, this is one-tenth of a percentage point lower than in the first…


Tokens

Abanca, Cecabank, Ibercaja, Kutxabank and Unicaja complete Spain’s first multi-bank trial of tokenised deposits

Reported by Consejeros Editorial Team The five financial institutions have successfully carried out the first multi-bank proof of concept for tokenised deposits. This trial has demonstrated that it is feasible to carry out interbank money transfers using blockchain technology. The process was carried out without the need to issue any cryptocurrency and without altering the legal or financial nature of customers’ deposits, which continue to be regarded as traditional bank…