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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 EEUU choque 1

In the World 30th October 2025

US to reduce general tariff on China to 47% in exchange for purchase of US soybeans and suspension of restrictions on rare earths

Bankinter | Trade agreement reached. The United States will reduce its general tariff on China from 57% to 47% based on cutting the tariff on fentanyl precursor products from 20% to 10% in exchange for China’s efforts to curb illegal trade in this substance. China will resume soybean purchases and rare earth exports to the United States. The agreement is valid for one year, although, according to Trump, it could…

inflacion eurozona

In Spain, Spanish economy 30th October 2025

Spanish inflation rises to 3.1% in October, highest level since June 2024

CdM | Inflation reached its highest level since June 2024 in October. The rise in electricity, air and rail transport prices has pushed the Consumer Price Index (CPI) up by one tenth of a percentage point, bringing its year-on-year rate to 3.1%, according to data released by the National Statistics Institute (INE). In detail, the evolution of inflation in the tenth month of the year is mainly due to electricity…

Indra novedad

Companies 30th October 2025

Indra’s results fall short of operating forecasts (net profit €77 million) but maintain 2025 guidance

Renta 4 | Indra (IDR): Q3 2025 results fall short of operating forecasts. 2025 guidance maintained. Strong increase expected in the defence portfolio for 2026. Investor Day in Q2 26. Results fell short of estimates at the operating level and our estimates for net profit (above consensus). Ordinary income €1,162 million (-3% versus Renta 4 estimate, -4% versus consensus and +6% versus Q3 24), EBIT, main figure, €109 million (-11%…

Santander Resultados 9m25

Companies 30th October 2025

Banco Santander CEO believes net interest margin could enter more stable phase

Link Securities | On Wednesday, the newspaper Expansión reported on statements made by Héctor Grisi, CEO of Banco Santander (SAN), during the presentation of the bank’s results for the first nine months (9M2025) to analysts. In his remarks, the bank’s chief executive officer believes that interest margins could enter a more stable phase and anticipates that next year will be ‘tough’ in terms of costs due to the demands of…

repsol brasil

Companies, Relevant News Item, Spanish economy 30th October 2025

Repsol reports net income of €1.177 billion up to September

Repsol obtained a net income of €1.177 billion in the first nine months of 2025, a 34.3% decrease compared to the same period in 2024, mainly impacted by the effect of lower crude oil prices on inventory valuation. Adjusted net income, which specifically measures business performance, stood at €2.173 billion, 19% lower than in 2024. The net income for the third quarter more than doubled that of the previous year,…

ferrovial

Companies, Spanish economy 29th October 2025

Ferrovial’s revenues rise by 4% as of September, exceeding €6,911 million

The Group’s revenues rose by 4% during the 9M ’25 period to exceed €6,911 million. Construction, which contributes over 80% of this variable, moderated its growth to 3%, implying a 5% in the standalone Q3, despite a more demanding base effect in 2024 following the recovery of Budimex in Q2 at that time, as well as the weakening of the dollar last quarter (down 6%) EBITDA increased by 2% to…

tecnicasreunidasentrada

Companies 29th October 2025

Técnicas Reunidas selected by RWE to develop 850-MW hydrogen-compatible combined cycle gas plant

Link Securities | Técnicas Reunidas (TRE) has been selected, together with General ElectricVernova, by German energy company RWE to develop a hydrogen-compatible combined cycle gas (CGT) plant with a capacity of around 850 megawatts (MW) in Voerde, in the federal state of North Rhine-Westphalia, according to information provided by the company to the Spanish National Securities Market Commission (CNMV). The plant will be able to use 50% natural gas and…

portugal economia

In Europe 29th October 2025

Portugal approves 2026 budget, sign of stability after last year’s political crisis

Bankinter | With votes in favour from the PSD (Social Democratic Party) and the CDS (Democratic and Social Centre) — which form the AD coalition —, the abstention of the PS (Socialist Party) was enough for the government to pass its first major parliamentary test. The document now enters the speciality phase, in which the various parties may table amendments, although the government has already warned that the scope for…

redeia fachada

Companies 29th October 2025

Redeia earns €390 million in 9M25, 4.6% less than in 9M24

Renta 4 | Revenue is slightly up in line with our forecast due to higher revenue from transport activity due to the application of the TRF published in the draft and new commissioning, which are partially offset by lower unit values and the amortisation of RAB, as well as good performance in Peru and Chile offset by the exchange rate in Brazil, while turnover continues to decline in Reintel due…

IAG 1

Companies 29th October 2025

IAG reduces share capital following redemption of 244.27 million treasury shares

Link Securities | In relation to the redemption of 244,274,863 IAG treasury shares through a reduction in share capital, the company announces that the public deed of capital reduction through the redemption of the aforementioned shares and amendment of the articles of association was registered in the Madrid Mercantile Registry on 20 October 2025. The redeemed shares will be excluded from trading on the relevant stock exchanges in the coming…