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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.
China stocks markets

In the World 21st October 2024

China initiates two programmes totalling $122.38 billion focused on facilitating share buybacks and providing greater liquidity to markets

Banca March | China has kicked off two programmes totalling up to ¥800 billion ($122.38 billion) aimed at facilitating share buybacks and providing greater liquidity to the markets. Some ¥500 billion will be granted to the swap programme, which allows the exchange of assets – such as corporate bonds or shares of CSI 300 companies – in exchange for highly liquid securities such as government bonds, making it easier for…

eurozona superavit comercial

In Europe 21st October 2024

Eurozone August trade balance disappoints: surplus falls sharply to €11.0 billion from €17.6 billion

Intermoney | Eurozone trade balance figures for August disappointed as the trade surplus narrowed quite a bit, to €11bn (vs. an estimated €17.6bn). At the same time, July’s data was revised down to a surplus of €13.7 billion. The euro area’s surplus in trade in goods with the rest of the world also narrowed, mainly due to lower exports of machinery and vehicles. Trade tensions were more than evident with…

Ferrovial Toronto

Relevant News Item 21st October 2024

Ferrovial brings stakes in toll road and car park concessions together in JV with Interogo Holding, called Umbrella Roads

Alphavalue / Divacons | The Spanish construction, services and concessions company and Interogo Holding created a joint venture called Umbrella Roads BV, aimed at managing Ferrovial’s stakes in motorway and parking concessions in Spain, Scotland, Ireland and Canada. These assets operate under availability payment schemes or with limited traffic risk. According to a Ferrovial statement, the group will transfer the economic rights of Umbrella Roads BV, while retaining majority voting…

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

In Spain 21st October 2024

Spain’s per capita GDP grows only 0.1% since 2019

Per capita income has increased from 25,420 euros in 2019 to 25,620 euros today, according to the latest data from Eurostat. More seriously, looking back, the per capita GDP is only 4% higher than in 2007. The economy of Spain has become the engine of growth for the eurozone. The aggregate GDP of Spain is expanding at a rate that is nearly three times that of the eurozone, while also…

pensiones playita

In Spain 19th October 2024

Salaries over €59,000 euros to be subject to ‘solidarity contribution’ to pay for pensions

This will be applied in January and will not generate rights for retirement, meaning that the principle of contributivity does not exist in this case, which turns this contribution into a tax. The cap on maximum contribution bases, the third year of application of the intergenerational equity mechanism, and the ‘solidarity contribution’ for salaries over €59,059 annually… 2025 will arrive loaded with extra contributions to cope with skyrocketing pension expenses,…

Acciona

In Spain 18th October 2024

Acciona Energía puts 650MW hydroelectric business up for sale for around €1 billion, attempting to maintain credit rating at BBB- investment grade

Acciona Energía, the renewable energy subsidiary of Acciona, has put the bulk of its hydroelectric business, which encompasses around 650 megawatts (MW) and is valued at €1 billion, up for sale, according to Reuters. This operation is part of ANE’s asset rotation plan, which already sold 175 MW of hydroelectric power to Elawan last July for €287 million, as reported by Expansión. This is the third operation that ANA has…

iberdrola offshore

In Europe 18th October 2024

Iberdrola and Masdar complete installation of wind turbines for Baltic Eagle offshore wind farm

Alphavalue/DIVACONS | Iberdrola (IBE) and Masdar, the Abu Dhabi Emirate’s renewable energy group, have completed the installation of wind turbines at the Baltic Eagle offshore wind farm, the two companies announced on Wednesday. A total of 50 turbines with a capacity of 476 MW have been installed. This project is part of the strategic agreement between the two companies. When fully operational, Baltic Eagle, which is already connected to the…

Alemania industria

In Europe 18th October 2024

German industrial production falls by 2.7% in August compared with 3.8% drop estimated

Banca March: In Germany, industrial production surprised on the upside in August. Specifically, the indicator climbed 2.9% in the monthly comparison, the biggest advance since October 2021. On a year-on-year basis, German industrial production fell by 2.7% compared with an estimated 3.8% decline. Still in Germany, analysts’ confidence, measured by the ZEW index, gave mixed signals. On the one hand, the expectations component surprised positively at 13.1 versus the 10…

ECB night

In Europe 17th October 2024

ECB to cut rates

Ben Nichols, Managing Director at RAW Capital Partners | The European Central Bank (ECB) has been signalling for several weeks that another rate cut was imminent, so this morning’s announcement is unlikely to trigger a significant market reaction. With Eurozone inflation falling to 1.8% in September, policymakers appear optimistic about the trajectory of the European economy, though inflation may rise again in Q4 due to base effects from last year’s…

Manchurian candidate

In the World 17th October 2024

Trump argues for higher tariffs with tax cuts and greater influence over Fed

Bankinter | In an interview at the Economic Club of Chicago, Trump insisted on his plans for tariff hikes, refuting economists’ forecasts that this would result in a negative impact on supply chains, consumers and economic activity. Tariffs on China would be 60% and 10% on the rest of the world. In their view, companies would quickly bring production back to the US to avoid the tariffs, generating more economic…