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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.

Companies, Relevant News Item 3rd November 2026

Merlin secures €3,750 million syndicated loan to fuel data center expansion

Spain’s largest real estate company, Merlin Properties, executed a €3,750 million corporate sustainability-linked financing agreement on October 30, 2026, with a syndicate of domestic and international banks. The transaction is structured into two tranches: a term loan and a revolving credit facility (RCF). The term loan consists of two disbursements, both maturing on April 30, 2032: €725 million, scheduled for drawdown on November 3, to prepay the syndicated loan maturing…

In Spain 3rd November 2026

Too many storytellers, not enough managers

Aurelio Medel | This week’s fatal train accident is a tragic metaphor for this government. The first step is to blur facts with narratives—something in which Pedro Sánchez is a master and Óscar Puente his finest apostle; the second is to shift the blame onto others. That is the general pattern in a country, called Spain, which boasts the best macroeconomic figures in the European Union but cannot withstand the…

Companies, Relevant News Item 2nd November 2026

Naturgy posts net profit of €1,758 million (+5%) through September

The group reached an EBITDA of €4,380 million in the first nine months of 2026, up 4%.Upwardly revises its guidance for full-year 2026: EBITDA above €5,600 million, net profit around €2,200 million, and net debt below €13,000 million.Advances in the energy transition: invested around €1,300 million through September, mainly in distribution networks and renewable generation projects. Operational renewable generation capacity exceeds 8.6 GW after adding around 500 MW during the…

Spanish economy 30th October 2026

Retail sales record their largest decline in nearly four years in September (-1.6%)

Retail trade sales recorded a year-on-year decrease of 1.6% in September, their largest drop in nearly four years—specifically since November 2022—according to data released this Thursday by the National Statistics Institute (INE). With this year-on-year drop, which widens the contraction experienced in August by 0.5 percentage points, retail sales have now logged three consecutive months of negative rates. Within the retail sector, food product sales fell by 0.3%, while sales…

In Europe 30th October 2026

ECB will attempt to agree on a new president before year-end, with Pablo Hernández de Cos and Klaas Knot best positioned

Yesterday, in line with expectations, the ECB kept key interest rates unchanged, with the deposit facility rate at 2.5% following the June and September hikes. Furthermore, the statement noted that the scale and duration of the energy shock (crude oil, and especially gas and distillates), along with its indirect and second-round effects (which are currently not evident, given stable wage growth), will likely push inflation higher and weigh on economic…

Companies, Relevant News Item 30th October 2026

CaixaBank boosts net profit by 12.9% through September to €4,962 million

CaixaBank Group closed the first nine months of 2026 with a net profit of €4,962 million, up 12.9% compared to the same period of the previous year (€4,397 million). According to the bank, this growth was driven by the acceleration of commercial activity, customer acquisition, and the consolidation of its 2025–2027 Strategic Plan. The income statement reflects positive dynamics across all margins: Profitability and efficiency: Profitability (12-month ROTE) climbed to…

Companies, Relevant News Item 29th October 2026

Repsol’s profit surges 325% to €5 billion

Repsol reported a net profit of €5.006 billion in the first nine months of the year, representing a 325% increase compared to €1.177 billion in the same period last year. This performance was boosted by stock revaluation (+€943 million) in a 2026 environment marked by rising prices for crude oil and refined products driven by the conflict in the Middle East, according to the company, which has accelerated its shareholder…

In Spain 29th October 2026

At least 68 dead in second rail tragedy in nine months

The collision of a Renfe High-Speed train (AVE) with a stationary Iryo train near Urda (Toledo) has left at least 68 people dead. A failure in the LZB safety system forced traffic to be managed manually. Subsequently, Adif’s control center authorized the AVE train to proceed without warning it of the stopped train ahead. The investigation will have to establish responsibility for this new disaster, which has disrupted the PSOE’s…

Companies, Relevant News Item 28th October 2026

Banco Santander reported a underlying profit of €11,176 million in the first nine months of 2026, up 16%

Banco Santander reported a record underlying profit of €11,176 million in the first nine months of 2026, up 16%. Attributable profit reached €12,405 million, up 20%. This includes a €1.9 billion net capital gain from completing the disposal of Santander Bank Polska in January, partly offset by €666 million in charges, including integration costs associated with TSB and Webster. Underlying results exclude these non-recurring items to give a consistent view…

Spanish economy 28th October 2026

Unemployment has risen back above 10% as the public sector added 90,000 workers in a single quarter, exceeding 3.7 million.

According to last summer’s Active Population Survey (EPA, by its Spanish acronym), Spain added 77,300 employed persons between July and September, reaching a record high of 22.85 million. However, this figure was not enough to offset the surge in unemployment, which grew by 95,900 people. This marks the largest increase for this period since the pandemic years, bringing the total number of unemployed individuals to 2.59 million and pushing the…

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