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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.
iberdrolacocheelectrico

Spanish economy 19th June 2024

Iberdrola and Eroski to install 1,000 electric vehicle charging points at 300 of group’s sites

Link Securities | As reported by the Bolsamania.com portal, Iberdrola (IBE) and Eroski have reached an agreement to install 1,000 charging points of different power ratings for electric vehicles at around 300 of the distribution group’s sites in 11 autonomous communities over the next three years. The new facilities will use 100% green energy, from renewable sources with a guarantee of origin certificate, and will save 30,000 tonnes of CO2…

bbva sabadell

Spanish economy 18th June 2024

ISS proxy recommends BBVA’s international funds vote in favour of capital increase required for Sabadell takeover bid

Norbolsa | Proxy ISS has recommended that large international funds to vote in favour of the capital increase that will be needed to execute the transaction. These investors include Black Rock with 5.91%, Capital Group with 5.02%, Varguard 4.95%, Norges 3.13%, JP Morgan 1.42% and Goldman Sachs with 1.35%. The meeting will be held on 5 July and will decide on the issue of 1.13 billion shares. ISS believes the…

puerto valencia

European economy 18th June 2024

Eurozone achieves trade surplus of €15 billion with rest of world in April, compared to €11.1 billion deficit in April 2023

Link Securities | Eurostat published yesterday that, according to its first estimate of the data, the Eurozone goods trade balance reached a surplus of €15,000 million with the rest of the world in April, compared to a deficit of €11,100 million in April 2023. In April, exports of goods from the Eurozone to the rest of the world amounted to €247.6 billion, an increase of 14.0% year-on-year. For their part,…

grifols investigacion

World economy 18th June 2024

FDA grants marketing authorisation for Grifols’ intravenous immunoglobulin therapy Yimmugo

Renta 4 | The FDA has approved the marketing of Yimmugo, an intravenous immunoglobulin (Ig) therapy developed by Biotest, a company controlled by Grifols, for the treatment of primary immunodeficiencies. The announcement marks the first approval of a product from Biotest’s portfolio by the US FDA and strengthens Grifols’ intravenous and subcutaneous immunoglobulin franchise in the world’s leading market. The product, which has already been marketed in the EU since…

criteria

Spanish economy 18th June 2024

Criteria Caixa’s new strategic plan aims to raise rate of return on assets from 3% to 8%

In recent weeks CriteriaCaixa, the investment arm of la Caixa, has entered Puig, ACS and Colonial, increased its stake in Telefónica and exited Cellnex, while awaiting the outcome of Naturgy. These corporate operations are a sign of the change of cycle in which CriteruaCaixa is immersed, which yesterday presented its strategic plan until 2030. Its main objectives are to increase the gross value of its assets by 48% to 40,000…

exports spanish2

Spanish economy 18th June 2024

Spanish exports fall 3.5% in last year

The trade deficit reached €12,760.9 million in the first four months of the year, an increase of 16.7% compared to the same period last year, despite the fact that exports in this period recorded the second best figure in the historical series, with €127,420 million, although they fell by 3.5% in the last year, as reported on Monday by the Ministry of Economy, Trade and Enterprise. Imports totalled €140,181 million…

Ucrania escalada conflictos

In the World 17th June 2024

G7 to allow use of proceeds from immobilised Russian assets to provide loan to Ukraine

BancaMarch : G7 members have reached a (tentative) agreement that would allow the use of proceeds from frozen Russian assets to provide a $50 billion loan to Ukraine. Russia’s frozen assets worldwide amount to $300 billion, however, this amount cannot be used, but the interest – some $3 billion – generated annually can be used. Thus, future profits are established as collateral for the $50 billion loan. The deal would…

ferrovial aeropuertoheathrow

Spanish economy 17th June 2024

Ferrovial finally sells 20% of Heathrow to PIF and Ardian funds for around €2.01 billion

Intermoney | Ferrovial (Hold, PO 32) announced last Friday, before the market close, that the Group, together with other Heathrow shareholders (accompanying shareholders), has reached an agreement to sell part of its stakes to the PIF and Ardian funds. Specifically, these two entities will acquire 37% of the London airport in exchange for £3,259 million, or some €3,880 million. Ferrovial will thus sell almost 20% of Heathrow’s capital for around…

Bank of spain new

Spanish economy 17th June 2024

Spanish public debt sets new record: 1.613 trillion (109% of GDP)

The Bank of Spain (BdE) reported on Friday that the debt of all public administrations in Spain rose in 1Q2024 to 109% of the country’s Gross Domestic Product (GDP), 1.3 percentage points above the close of 2023, while the amount of Spanish public debt set a new record at €1.613 trillion, with record indebtedness of the State and the autonomous regions. The Bank of Spain, which thus confirmed the 1Q2024…