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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.
InmoColonial

In Spain 28th November 2024

Puig family takes advantage of Santo Domingo family’s departure from Colonial’s share capital to strengthen position in shareholding – up to 7.7%

Link Securities | The Puig family has taken advantage of the departure of the Santo Domingo family from the capital of COLONIAL (COL) to strengthen its position in the shareholding of the Catalan REIT. Exea Inversiones Inmobiliarias, the holding company that brings together the family’s investments, bought 5.7 million COL shares last Friday during the accelerated placement, a package valued at around €29.8 million, according to Expansión newspaper. This transaction…

Eurozona IPC

Spanish economy 28th November 2024

Spain’s CPI growth rebounds to 2.4% year-on-year in November from 1.8% in October

Santiago Martínez Morando, Head of Economic and Financial Analysis at Ibercaja | According to preliminary data, CPI growth rebounded in Spain to 2.4% year-on-year in November from 1.8% in October and the low of 1.5% reached in September, which was the lowest level since March 2021. The CPI is still very much determined by the volatility of energy prices, and the National Statistics Institute (INE) points to the acceleration being…

eeuu inflacion precios

In the World 28th November 2024

US consumer confidence improves to 111.7 in November

BancaMarch: US consumer confidence has improved. The Conference Board index rebounded in November reflecting an improvement in consumer expectations with the aggregate index rising 2.1 points in the month to levels of 111.7. This performance was helped by the executive turnaround in the elections at the beginning of November and by the positive wealth effect that rising stock markets and house prices are having on more affluent US households. In…

grifols blood bags

Spanish economy 28th November 2024

Grifols plummets on stock market after Brookfield abandons €6.5 billion takeover bid

The Canadian fund Brookfield has decided to withdraw its interest in a public exclusion offer to acquire Grifols due to disagreements over the price with the board of directors of the Spanish pharmaceutical company, as previously reported by Bloomberg. “After conducting a thorough due diligence and considering the reactions of the Grifols Transaction Committee and the Grifols Board of Directors regarding the potential offer communicated to the market on November…

Tecnic

In the World 28th November 2024

Técnicas Reunidas and Sinopec resume Hassi Messaoud refinery project in Algeria with new contract worth $4,000m

Renta 4: The company has informed the CNMV of the relaunch of the Hassi Messaoud refinery project in Algeria. It should be recalled that this contract was awarded at the end of 2019 to Técnicas Reunidas (55%) in consortium with Samsung (45%) for an amount of $3.7 billion, $2 billion for Técnicas Reunidas. The new contract amounts to $4 billion and will be carried out by a new joint venture…

euro crisis

European economy 28th November 2024

EC says euro area fiscal stance to be 0.29% of GDP tighter in 2025 than in 2024

Norbolsa: EU fiscal plan: The European Commission reported that France’s 2025 draft budget and medium-term plan to reduce public debt are in line with EU rules (it is projected to have a budget deficit of 6.1% of GDP this year and by 2025 aims to reduce it to 4% and then bring it below the EU limit of 3% in 2029), while the Netherlands’ spending plans are high. The European…

China EEUU choque

In the World 28th November 2024

Trump uses fentanyl threat to justify raising tariffs 10% on products from China, and 25% on those from Mexico and Canada

Banca March: Trump has offered new clues on tariffs: he promises to increase them by 10% on all goods imported from China, and by 25% on products from Mexico and Canada. The main rationale for the tariff hike centres on combating the threat posed by fentanyl. In the case of China, the future president accused the country of not taking sufficient measures to stop the flow of illicit drugs crossing…

bbva sabadell fusion 2

In Europe 27th November 2024

European Commission finalises review of BBVA’s Sabadell takeover bid with no objections

Link Securities | According to financial sources close to the process, the European Commission (EC) gave its approval to BBVA’s takeover bid for Banco Sabadell (SAB) after verifying that BBVA will not benefit from aid from third countries to take over Sabadell, according to the newspaper Expansión. On 21 October, the European Commission (EC) Directorate-General for Competition opened proceedings against BBVA to explore the existence of potential subsidies from foreign…

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

In Spain 27th November 2024

S&P upgrades Spain’s 2024 growth forecast to 3.1%

The rating agency S&P Global Ratings announced on Tuesday that it expects Spain to grow by 3.1% in 2024, nine-tenths higher than its June forecast and almost four times the 0.8% for the eurozone as a whole.Additionally, Spain’s GDP is expected to advance at a rate of 2.5% in 2025, six-tenths higher, and at 2% in 2026 and 2027. This means that the last two figures remain unchanged, which are…

Telefonica central

In Spain 27th November 2024

Several funds could acquire up to 39%of Telefónica and Vodafone’s fibre-optic JV

Norbolsa | Telefónica and Vodafone Spain are looking for an outside investor for their fibre optic joint venture, FibreCo. Funds such as Vauban, AXA and GIC have shown interest in acquiring up to 39% of the stake, in a deal valued at €2 billion and expected to close in the first half of 2025. Telefónica will retain the majority (51%) and Vodafone 10%. On 7 November, Telefónica de España and…