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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.

Spanish economy 2nd July 2024

Telefónica and Nokia to jointly develop and deploy 5G private networks in Spanish companies

Alphavalue / Divacons | Telefónica and Nokia have signed a three-year strategic agreement to accelerate the development and deployment of private 5G networks in Spanish companies, the operator led by José María Álvarez-Pallete said in a statement. According to Telefónica, the aim of this agreement is to help industry evolve to a 4.0 model and accelerate the digital transformation of companies “in a simple and agile way”. This alliance for…

European economy 2nd July 2024

Lagarde opens ECB annual forum in Sintra, and says economy’s “soft landing not yet guaranteed”

Banca March: Christine Lagarde opens the ECB’s annual forum in Sintra, warning that “the soft landing of the economy is not yet guaranteed”. The head of the monetary authority has asked for more time to make sure that the risks that could push inflation above the 2% target have passed, indicating that the strength of the labour market gives them some room to gather more information, stressing the message of…

Spanish economy 2nd July 2024

Ferrovial sells remaining 25% stake in Serveo and leaves services in Spain

Ferrovial has sold its remaining 24.78% stake in Serveo, its former services unit, to the Portobello fund – which in 2022 had already bought the other 75% for €220 million – making the Spanish management company the sole shareholder with 100% of the shares. With this transaction, FER completes its exit from the services business in Spain, as part of its strategy to focus on its core business, the development…

Spanish economy 2nd July 2024

Lending to Spanish companies continues to fall

The indebtedness of non-financial companies is below €920 billion, the lowest level since September 2020. Specifically, Spanish companies accumulated debts of €918,500 million at the end of May, a reduction of €8,000 million with respect to the same month of the previous year, 0.8% less. To find a similar level, one has to go back to September 2020. Companies are just under €46 billion short of the €872.575 billion of…

European economy 1st July 2024

Construction begins on Germany’s first onshore LNG plant to be operated by Enagás

Alphavalue/DIVACONS | The laying of the foundation stone for Germany’s first onshore Liquefied Natural Gas (LNG) terminal, which will be operated by Enagás and come on stream in 2027, was held last Friday in Stade. More than 1,100 people will work on the construction of Europe’s two largest LNG tanks, each with a capacity of 240,000 cubic metres, which will also be able to operate with renewable ammonia. The terminal…

Spanish economy 1st July 2024

Repsol reportedly negotiating merger of its North Sea exploration and production business with Neo Energy

Renta 4 | According to press reports, the company is negotiating the merger of its exploration and production business in the North Sea with Neo Energy, creating a business that would reach 130 kboe/d, increasing its production by 90 kboe/d (+15%), which would make it one of the largest producers in the area. In addition, according to other media, Repsol could also be in negotiations to sell a minority stake…

European economy 1st July 2024

Money supply in Eurozone reactivates with +1.6% annual growth, 3/10 of a percentage point higher than previous month

Banca March: In the euro zone, the money supply is showing signs of recovery while the battery of confidence indicators in the region shows a slowdown. In May, money supply (M3) accelerated more than expected, growing +1.6% year-on-year, three-tenths of a percentage point higher than in the previous month and with credit granting also picking up. In particular, loans to non-financial companies advanced +0.3% year-on-year, the same pace of growth…

European politics 1st July 2024

Le Pen wins first round of general elections in France with 33.5% of votes

The first round of the French legislative elections saw the unprecedented rise of Marine Le Pen’s National Rally party with 33.5% of the vote. The left, grouped in the New Popular Front, would win 28%. And President Macron’s party, Together for the Republic, would be left with 21%. The traditional right-wing Republicans won 10% in an election marked by a high turnout. According to polling institutes, it surpassed the 60%…

In Spain 1st July 2024

Government and unions want us to work less for same pay and reduce working week to 37.5 hours

Today is the meeting of the so-called “social dialogue”, the “social monologue” according to CEOE and CEPYME, the employers’ associations of large and small companies that have declined to present an alternative proposal to the decision already taken by the Government and trade unions (CCOO and UGT) to reduce the working week from 40 to 37.5 hours without a reduction in pay. Thus measure, according to their calculations, will mean…

Spanish economy 1st July 2024

Aena approves new airport incentive to increase air traffic and promote freighter routes and frequencies

Alphavalue / Divacons | The company has approved a new incentive aimed at encouraging air freight traffic and boosting the scheduling of routes and frequencies for cargo aircraft by airlines. The incentive consists of a rebate on each carrier’s average landing fee for inbound operations during the 12-month period compared to the previous 12 months, operated with wide-body freighter aircraft. The incentive will be in force for three years, from…

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