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Articles by The Corner

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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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World economy 7th February 2012

European efforts in innovation still lagging behind US, Japan

The EU is not closing the persistent gap with global innovation leaders US, Japan and South Korea. The European Commission on Tuesday published the results of its Innovation Union Scoreboard, which includes innovation indicators and trend analyses for the EU 27 Member States, as well as for Croatia, Iceland, the Former Yugoslav Republic of Macedonia, Norway, Serbia, Switzerland and Turkey, and also compares a more reduced set of indicators between the…

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Companies 7th February 2012

Apple, the real thing?

If you are in Beijing and you want to buy an Iphone, you have two options: a) either drop by an official Apple store or b) take the chance of being sold a fake Iphone –which looks exactly the same than the original one- at one of the many official reseller Apple stores that pack computer centers. Don’t be fooled by the name. Yes, they may carry the word “official”;…

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World economy 6th February 2012

Mind the gap, it’s about cooperation

By Julia Pastor, in Madrid | In a context of crisis that is becoming worse and worse, and with the arrival of the new government lead by Mariano Rajoy, Spain’s cooperation challenges need to be revised. The unavoidable decrease in resources must be faced by an improved, more finely tuned project selection and the need for greater transparency must be satisfied by including the goals that each project intends to attain,…

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In Europe 6th February 2012

Greek crisis: no tsunami at bay

By Juan Pedro Marín Arrese, in Madrid | When it comes to conditions imposed on Greece, they are not so fierce as usually depicted. Axing 25% of minimum wages might seem a harsh therapy. But salaries pegged to this standard would still be 15% higher than in Portugal. As to supplementary pension schemes and holidays bonuses, ask the Portuguese how they feel on that. Closure of more than 100 state-controlled entities…

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Spanish economy 6th February 2012

Does anyone know how to get rid of the €24bn electrical bill deficit in Spain?

Julia Pastor, in Madrid | One of the fundamental structural reforms Spain needs to undertake within the next few years –and of the same importance and magnitude as the educational reform, the labour reform or the pension system–, is the one to solve the electrical tariff deficit. This is the deficit resulting from the difference between the existing elevated tariffs of the wholesale market that generates the electricity and what…

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World economy 6th February 2012

The red envelope

The happiness of Beijing residents is in recession for the fourth consecutive year. The reasons behind such state of mind are not exclusive of the Chinese capital and they represent the challenges the Communist Party will have to face during the year that has just begun in China. In Europe, the year 2012 exudes pessimism. Conversely, according to Chinese astrology, the symbolism attached to this mythological animal will bring  power…

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Companies 6th February 2012

Ferrovial, Técnicas Reunidas go for the British nuclear plants

By Tania Suárez, in Madrid | The Spanish companies Ferrovial and Técnicas Reunidas (TRE) have joined forces to bid for British nuclear plants. According to UK Government, the British Nuclear Plan would entail a substantial £50 billion investment over the next decades. Ferrovial and TRE have already sealed a framework agreement to work together in large projects related to construction, engineering and operation of nuclear plants. Experts from Bankinter point…

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Spanish economy 4th February 2012

Are caps on pay for rescued banks in Spain fair enough?

By Juan Pedro Marín Arrese, in Madrid | It is only fair that banks being nationalised to save them from sheer collapse should follow a much restrictive pay policy on top executives and members of the board. After all, a huge amount of taxpayer money has been spent to fill the gaps derived from irresponsible management. The odd thing is that most culprits have already left the entities with their pockets…

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Markets 3rd February 2012

The financial City of Madrid supports De Guindos’ plan

By Tania Suárez, in Madrid | Most Spanish financial analysts agree in their perception of Santander and BBVA as being favoured by the financial reform presented on Thursday by the minister of Economy Luis De Guindos. As a matter of fact, their quotes are gaining value. The reform has been received favourably, although some analysts are still cautious. On the one hand, Sabadell’s point out that “demand has increased, but…

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In Europe 3rd February 2012

A Europe dependant on Spanish renewables: plausible or dream?

By Julia Pastor, in Madrid | The Spanish subsidiary of Siemens wants to transform Spain into the renewable energy provider for Central Europe. Spain is the European leader in green energy, specifically the number one in wind energy. In Europe, several countries have turned their back on nuclear energy, among them Germany, and are going to close their plants, and geopolitical instability due to the war for oil is already a…