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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.
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Spanish economy 26th June 2012

Spanish equipment manufacturers increased revenue by 1.5pc

By www.valenciaplaza.com | The Spanish industry of capital goods (machinery and equipment that integrates the production process) increased by 1% its turnover in 2011 to €39 billion. The sector has some 2,000 companies, the vast majority of which are small and medium-sized firms. According to the National Association of Manufacturers of Capital Goods (Sercobe) last year, SMEs increased their revenues in €404 million to €26.13 billion, with a growth rate of 1.5% compared to…

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Markets 26th June 2012

What can one do with €800 billion?

By Nuño Rodrigo | www.cincodias.es | While our European leaders battle with a crisis seemingly impossible to be resolved, while euro zone third and the fourth economies feel threatened by the danger of being rescued because they cannot afford to access the markets, and while for all of these reasons the world approaches a crisis relapse, the guardian of austerity secrets and price stability wakes up every day with a sack of almost…

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In Europe 26th June 2012

Italian unemployment trend takes nasty turn: Tuesday’s charts

bank loans with bad credit LONDON | Italian prime minister may have to introduce in his country the labour market reform á la Spanish he much praised not long ago. Among the statistics that are increasingly flagging a red light in the Italian economy, unemployment is gaining some attention. Although Italy’s labour market underwent substantial adjustments over the past two decades, with the 1997 Treu measures and the 2003 Biagi reform,…

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Interviews 25th June 2012

“Confidence in Spain’s banks will improve”

home loan with bad credit rating By www.valenciaplaza.com | Citigroup strategist José Luis Martínez believes the importance of the delay in the Spanish request for capital to bailout the country's banking sector has been overblown by commentators. Martínez, though, worries about the cost of the short-term credit for Spain. To what extent the results of the latest audits on the banking sector have improved confidence in the Spanish banks? Confidence…

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Spanish economy 25th June 2012

De Guindos letter, the markets’ anxiety

free credit help online By Julia Pastor, in Madrid | The Spanish minister for the Economy Luis de Guindos finally released Monday the letter addressed to the Eurogroup president Jean-Claude Juncker with the aim of officially requiring financial assistance to recapitalise troubled national banks. His words have taken the front pages of all the Spanish media. According to Europa Press, the letter begins with this paragraph: “I have the honour…

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Markets 25th June 2012

BNP Paribas expects Spanish house prices lower than in audits’ base scenario

can you refinance mortgage with bad credit A drop of merely 10 percent in house prices between 2012 and 2014? BNP Paribas believes trends in Ireland and the US make the case for further value losses in Spain. Independent auditors of the Spanish banking sector Oliver Wyman and Roland Berger described their base scenario for the country's housing market in line with the International Monetary Fund's forecasts, and pointed at…

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aggregation line 23rd June 2012

Weekend link fest

A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions. Eurocrats, get your financial bazookas right now Markets are fast, but democracies slow –solving the euro crisis How investors can thrive as the eur ipad manual o zone burns Angela Merkel is drawing the…

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Markets 22nd June 2012

The European battle between Christine Lagarde and Angela Merkel

By Julia Pastor, in Madrid | Merkel, Hollande, Monti and Rajoy. Four names for another crucial meeting in the euro zone, the one held today at Rome to smooth the path of next June 28-29 Summit. Christine Lagarde will not participate in this conversation but her name will surely loom large in the four European leaders’ minds. The International Monetary Fund’s managing director is raising the pressure for the European…

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In Europe 22nd June 2012

What a kerfuffle over that €100-billion Spanish banks’ bailout

By Luis Arroyo, in Madrid | The results of those independent audits over the Spanish banking sector have come to be summarised in one line, that banks would need up to €62 billion if the economy took a turn for the worst. Now, the published opinion in the country is terribly divided, as it was expected between the optimists and pessimists. To some extent, we cannot exactly be hopeful. There…

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Companies 22nd June 2012

Abertis closes the sale of 7% of Eutelsat to China Investment Corporation

MADRID | Abertis said on Monday it had agreed to sell 7% of Eutelsat to China Investment Corporation (CIC) for €385.2 million. The transaction, which generated net capital gains of €237 million, follows Abertis’ January sale of 16% of Eutelsat in a private placement among qualified investors. Abertis will remain a Eutelsat shareholder, with a stake of 8.35%. In compliance with the terms agreed by Abertis in the recent placement of a 16% stake in…