Top Stories

Articles by The Corner

About the Author

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.
Santander

Spanish economy 5th September 2024

Banco Santander, Global Sponsor of Formula I

Banco Santander has ‘returned’ to Formula One, but this time as Global Sponsor of the competition, thus interrupting its presence in the Ferrari team, which was so successful during its first sponsorship during the presidency of the late Emilio Botín. The entity now headed by Ana Botín is expanding its investment, becoming the company’s global sponsor and official bank. The international entity, based in Santander, announced this Wednesday the agreement…

AccionaSede

Spanish economy 5th September 2024

Acciona plans to invest €49m to build green hydrogen production plant in Arteixo, A Coruña

Link Securities | AccionPlug, the alliance between Acciona and Plug Power, is promoting a green hydrogen production plant in the town of Arteixo, A Coruña, the newspaper Expansión reports in today’s edition. AccionPlug plans to invest €49 million to start up production, which will reach an annual average of around 3,000 tonnes of green hydrogen. The project also envisages the creation of 25 direct jobs when it comes into operation.

GrifolsGRF

Spanish economy 4th September 2024

Grifols cancels Investor Day due to negotiations with Brookfield to launch delisting takeover bid

Bankinter | The company has announced that it will not hold its Investor Day. The date was scheduled for 10 October. The reason given is the negotiations with the Brookfield fund to launch a delisting takeover bid for the company’s shares. Analysis team’s opinion: This is news that in another situation would be negative. In the current situation the impact is minor, the only important thing now is whether the…

bbva sabadell

European economy 4th September 2024

BBVA gets go-ahead from UK regulators for indirect acquisition of TSB

Norbolsa | The British prudential regulator has authorised BBVA to take indirect control of TSB (Sabadell’s UK subsidiary). This authorisation is one of the conditions to which the takeover bid is subject, as it required 50.1% of Sabadell’s share capital, the approval of the National Markets and Competition Commission (CNMC), and finally this authorisation from the UK Prudential Regulation. On the other hand, yesterday, the Minister of Economy, Carlos Cuerpo,…

coche fabricas

European economy 4th September 2024

Spain’s manufacturing PMI slows to 50.5 in August from 51 in July, Eurozone’s stagnates at 45.8

CdM | The expansion of Spanish factory activity moderated in August to seven-month lows, according to the Purchasing Managers’ Index (PMI), which stood at 50.5 points from 51 points the previous month, reports Europa Press. Operating conditions in the Spanish manufacturing economy, in general, continued to improve in August, although the latest data showed divergent trends in several key areas. Thus, although new orders increased, production fell slightly, employment declined…

escriva

In Spain 4th September 2024

José Luis Escrivá to be new Bank of Spain Governor, in new change of heart by Pedro Sánchez

The Government puts the current Minister of Digital Transformation and Public Function, José Luis Escrivá, at the head of the Bank of Spain (BdE), despite the rejection of the PP, which refuses to propose a candidate for Deputy Governor in order not to endorse a candidacy that it qualifies as an attempt to politicize the institutions. Today, the Spanish media are picking up on Pedro Sánchez’s previous criticism of the…

Madrid Stock Exchange revision

Spanish economy 4th September 2024

Almost half of all Spanish stock exchange shares (49%) in foreign hands

Non-financial companies, banks and the public sector increased their share ownership in the Spanish stock market at the end of 2023, with international investors continuing to control nearly half of its capitalization. This is reflected in the Report on the Ownership of Listed Spanish Shares published today by BME’s Research Department. As the report points out, public sector participation in the stock market reached its highest level (16.6%) in 1992,…

comercio cm 1

Spanish economy 3rd September 2024

Spanish surplus moderates in June to €5.02bn, down from €5.56bn in May

Singular Bank | According to the Bank of Spain, Spain’s current account balance showed a slight decline during the month of June, moderating its surplus to €5.02 billion, down from €5.56 billion in May. The current account balance in the first six months of the year recorded a surplus of €25.4 billion, an increase of 33% compared with the same period in 2023, according to data published by the Bank…

Spains unemployment problem

Spanish economy 3rd September 2024

August sees 194,000 jobs disappear, and a generalized rise in unemployment

The first “end of the summer”, the end of August, leaves in unemployment the effects of an economy that continues to rely on tourism as its main source of growth. Thus, unemployment rose by 21,884, in almost all communities, led by the Basque Country and the Mediterranean area. This is an advance in an upward curve that tends to be more so in September, when visitors say goodbye definitively. Moreover,…

spain tourism

Spanish economy 3rd September 2024

Record tourism figures for Spain: 53.4 million visitors (+12%) spending €71.1 billion (+20%)

The number of international tourists arriving in Spain reached its highest figure in the first seven months of 2024, touching 53.4 million, an increase of 12% over the previous year, according to data from the National Statistics Institute (INE), which points out that spending by these tourists has increased by almost 20% up to July, reaching 71.1 billion euros. For the Minister of Industry and Tourism, Jordi Hereu, “the significant…