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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.

In Spain 13th February 2025

HBX Group tourism company begins trading with €2.843 billion market capitalization

Cinven and CPPIB remain as the main shareholders, each holding 28% of the capital. Meanwhile, Norges Bank Investment Management (Nbim), Invesco, Fidelity, Santander Asset Management (Santander AM, manager of SANTANDER (SAN)), and Bestinver are some of the main institutional investors that have purchased shares of HBX, a tourism company previously known as Hotelbeds, as part of its IPO. HBX, which is dedicated to selling hotel rooms and apartments to tour…

In Europe 13th February 2025

EU promises to retaliate if US imposes tariffs on steel and aluminium

BancaMarch | The European Union promised to retaliate if the United States imposes tariffs on steel and aluminium on the EU bloc. The President of the European Commission stated that the unjustified tariffs will trigger ‘firm and proportionate responses’, without giving further details. In 2018, Trump tariffed steel and aluminium on some $7 billion in European imports. The EU bloc reacted with tariffs on a list of US products, including…

In the World 12th February 2025

Powell ‘in no hurry to lower interest rates further’ given good economic situation

Norbolsa | The chairman of the monetary authority, Jerome Powell, in his first appearance before Congress since his inauguration, endorsed the strength of the economy into which Trump is landing, although he avoided answering questions related to tariffs, Elon Musk, bank account security and other issues that reflect the instability of the government’s first weeks. In terms of monetary policy, he pointed out that the Fed is in no hurry…

In Spain 12th February 2025

New squabble between government partners: PSOE wants minimum wage taxed and for Treasury to take 43% of increase, Sumar refuses

In the press conference following yesterday’s cabinet meeting, the dispute was public and notorious. The Vice President of the Government and Minister of Labor, Yolanda Díaz, was busy explaining that the government, in agreement with the unions and disregarding the employers, has decided to raise the minimum wage (SMI) by another €50 per month – to 14 payments of €1,184 per month – a decision that affects 2.4 million workers….

Spanish economy 12th February 2025

Enagás pre-2024: Ebitda could exceed guidance (€730-740m) and BDI to pick up Tallgrass and GSP losses

Renta 4 | Enagás will present its 2024 results probably on Tuesday 18 February 2025 before the open, conference that same day at 8am. P.O. €19.21, overweight. Slight cut expected in revenues, as a result of lower estimated regulated revenues that will not be offset by the higher contribution from Musel and COPEX. Ebitda in turn will be affected by the lower contribution from investees despite the partial compensation of…

Spanish economy 11th February 2025

Naturgy’s green gas injection capacity grows 30% in 2024 thanks to eight operating biomethane plants

Alphavalue/ Divacons | Nedgia, Naturgy’s gas distributor, has increased the green gas injection capacity in its network by more than 30% over the last year. Currently, eight biomethane plants are connected and in operation, with a combined capacity of 226 GWh of green gas, which contributes to avoiding the emission of 40,500 tonnes of CO2 into the atmosphere, as reported yesterday by Naturgy in a press release. In the short…

In Europe 11th February 2025

Indra to provide German Air Force, Luftwaffe, with state-of-the-art radar for detecting objects in low space orbits

Link Securities | Following approval by the German Parliament, Indra has signed a contract with the Federal Office of Procurement (BAAINBw) of the German Armed Forces (Bundeswehr) to provide its Air Force, the Luftwaffe, with a state-of-the-art low-orbit object detection radar, the digital portal Bolsamania.com reported yesterday. The system will protect active satellites from possible impact with debris from other missions that orbit uncontrollably at high speed and can damage…

In the World 11th February 2025

Chinese aluminium manufacturers to hardly be affected by US tariffs

Intermoney | The US is wielding tariffs as a weapon to achieve certain concessions and show its ability to exert pressure in certain areas, but we should not overestimate them, as in some cases the products lack high added value. This is the case with aluminium and China. Chinese aluminium manufacturers will hardly be affected by the US plan to impose tariffs of 25% on steel and aluminium imports. The…

In Spain 11th February 2025

860,000 unemployed listed as ‘fixed-discontinuous’ employees

Two years ago, the Minister of Labor, Yolanda Díaz, committed to publishing detailed data on the actual situation of inactive fixed-discontinuous workers. She never did. Since the labor reform came into effect, one of its recurring controversies has been the role these fixed-discontinuous workers play in the evolution of the labour market. We are talking about a type of indefinite contract linked to occasional activities, sometimes lasting only a few…

In Spain 11th February 2025

Sabadell CEO insists BBVA’s takeover bid at price offered makes no sensek

Link Securities | César González-Bueno, Sabadell’s CEO, reiterated this Friday during the presentation of Sabadell’s annual results that the takeover bid launched by BBVA at the price that has been offered makes no sense, according to Expansión newspaper. The acquiring bank is offering one newly created share for every 5.0196 Sabadell shares and a cash component of €0.29 (equivalent to the dividend paid at the end of 2024). All in…

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