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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.
China

In the World 16th June 2025

May data from China: retail sales improve but distorted by subsidies, house prices in free fall, weak industrial production

Bankinter | Negative macroeconomic data in May: retail sales improve but influenced by government subsidies. House prices in free fall and weak industrial production. Retail sales stood at 6.4% (year-on-year) against 4.9% expected and 5.1% previously. Used house prices fell by 0.5% (month-on-month) from -0.4% in May, and industrial production slowed to +5.8% (year-on-year) versus +6.0% expected and +6.1% previously. Analysis team’s view: Negative reading of the data with limited…

airbus cartel 1

In Europe 16th June 2025

Consolidation key for European space sector: Airbus, Thales and Leonardo in talks to create agreements in satellite divisions

Morgan Stanley | Europe is under increasing pressure to upgrade its space capabilities, with more investment needed if it wants to reduce its high dependence on players such as SpaceX. In the report, analyst Terence Tsui discusses the CAPEX implications if the current European IRIS2 plan were to increase from 300 satellites for the next decade to more than 1,000 units at a cost of €10-50 billion. Overall, this would…

inflacion precios

Spanish economy 16th June 2025

Spanish inflation moderates to 2% in May, lowest level since October 2024

CdM | The Consumer Price Index (CPI) fell by two tenths of a percentage point in May, standing at 2% year-on-year, the lowest level since October 2024, when it stood at 1.8%, according to final data published on Friday by the National Statistics Institute (INE). This figure is slightly higher than the provisional estimate, which predicted a drop of three tenths of a percentage point to 1.9%. Despite the difference,…

Aena nuevita

Relevant News Item 16th June 2025

Aena to execute 10×1 split on 19 June, and announces 3% increase in passenger traffic in Spain in May

Intermoney | Aena (AENA) (Buy, Target Price £215/share) confirmed on Thursday that it will execute the previously announced 10×1 split next Thursday, 19 June; this measure was already announced in conjunction with the 2024 annual results. On the other hand, the operator announced, with the market open, passenger and freight traffic figures for May 2025. The figures for Spain showed an increase of 3% last month to over 29 million…

bank generico

In Europe 16th June 2025

EC delays implementation of new global banking regulations by one year

Link Securities | Reuters reports that the European Commission (EC) announced yesterday that it will delay the implementation of new global rules governing banking operations by one year, until 1 January 2027. Sources told Reuters last month that the European Union (EU) would delay the implementation of the rules pending further clarity on the US government’s plans to deregulate its financial sector. The so-called Fundamental Review of the Trading Book…

ACS novisimo

In the World 16th June 2025

ACS wins one of Canada’s largest public works contracts: bridge between Saint Catharines and Niagara

Link Securities | ACS (ACS) has strengthened its presence in North America by winning one of Canada’s largest public works contracts, according to Expansión newspaper. The contract is for a new bridge between the cities of Saint Catharines and Niagara (Ontario), with an investment budget of over €1 billion. ACS has won the contract through its American subsidiary FlatironDragados in partnership with local groups Demathieu & Bard and Green Infrastructure…

sacyr edificio logo nuevo

In Europe 16th June 2025

Sacyr about to sign contract for Messina Strait Bridge, Europe’s largest public works project

Link Securities | The Sacyr consortium responsible for the construction of the bridge over the Strait of Messina (Italy) is about to sign the contract for what would be Europe’s largest public works project in terms of investment, worth around €13 billion, of which around €10 and a half billion correspond to the Sacyr consortium, which holds 22.4% of the business alliance involving the Italian companies Webuid, Condotte and Itinera….

3. bank spain

In Spain 16th June 2025

Spanish public debt stands at 1.668 trillion at end 1Q25, 103.5% of GDP

CdM | At the end of the first quarter, public administration debt stood at €1.668 trillion, representing 103.5% of GDP, according to data from the Excessive Deficit Protocol (PDE) published by the Bank of Spain. This is 2.8 percentage points less than in the same period in 2024, while the growth rate of the debt balance was 3.3% year-on-year. Among the various subsectors of the public administration, the debt balance…

Telefonica novisima

In Europe 13th June 2025

Telefónica commits to concrete investment in relevant digital infrastructure to convince EC to approve telecoms mergers

Link Securities | The company is willing to invest in data centres and cybersecurity services to convince European regulators to approve telecoms mergers, as the Spanish company aims to lead consolidation on the continent, Expansión newspaper reported yesterday. The group hopes its commitment to make concrete investments in major digital infrastructure will help convince the European Commission (EC) that fewer and larger telecoms operators would increase the bloc’s technological resilience,…

GrifolsGRF

Relevant News Item 13th June 2025

Grifols’ takeover bid for Biotest, accepted by 2.11% of ordinary shares with voting rights (1.05% of capital)

Alphavalue/ Divacons | The Catalan plasma derivatives company announced yesterday that, once the period for acceptance of the delisting takeover bid for Biotest has ended, it will control 99.25% of the company. Biotest was delisted on 6 June, according to the information sent to the National Securities Market Commission (CNMV). The delisting offer was accepted by a total of 416,922 ordinary shares of Biotest and 3,002,804 non-voting preferred shares. In…