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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.

In the World 6th February 2025

Ferrovial to modernise electrical infrastructure between Grain and Tilbury for National Grid for €276 million

Alphavalue / Divacons | The Spanish construction, services and concessions company, through its UK Construction division, will carry out the £230 million (around €276 million) project to modernise the electrical infrastructure between Grain and Tilbury for its new client, National Grid, which manages the UK’s electricity grid. The project is part of a broader programme of infrastructure modernisation and improvement promoted by National Grid as part of The Great Grid…

In the World 6th February 2025

Airtificial signs two automotive projects, one in China and one in India

Link Securities | Airtificial (AI), through its Intelligent Robots business unit, has signed two automotive projects for the design, manufacture and turnkey delivery of linear systems in India, for the assembly and verification of driving systems, and in China, for the assembly of electric steering, according to the Bolsamanía portal. Their manufacture is part of the company’s global geographical diversification plan, and they strengthen its position in electric mobility, while…

In the World 5th February 2025

Mexico and Canada negotiate with Trump to delay tariffs in exchange for stricter measures against immigration

BancaMarch | First Mexican President Claudia Sheinbaum and then Justin Trudeau negotiated through telephone conversations with Trump to delay tariffs in exchange for stricter measures to combat immigration and cross-border drug trafficking. The planned measures consisted of imposing tariffs of 25% on imports from Mexico and Canada, with the exception of Canadian energy products, which would be subject to a 10% tariff. The White House executive orders do not contemplate…

In Spain 5th February 2025

Government approves reduction of working hours to 37.5, but it still lacks necessary support in Congress

The Government approves the reduction of working hours to 37.5 hours, although it still lacks the necessary support in Congress. The employers’ association CEOE accuses the Minister of Labor, Yolanda Díaz, of sabotaging “social dialogue” and negotiating a reduction in working hours between the Government and unions that should have been discussed among social agents. The employers’ refusal to negotiate – as many agreements already have shorter working hours and…

In the World 5th February 2025

PCE rebounds in December to 2.6% year-on-year, core remains at 2.8%

Link Securities | The Commerce Department released on Friday that personal income rose 0.4% in the US in December from November, a reading that was in line with the FactSet consensus of analysts’ expectations. Compensation of employees rose 0.4 per cent in the month, driven by private wages and salaries (0.4 per cent). Personal spending rose 0.7% in December from the previous month, significantly more than the 0.5% expected by…

In Europe 5th February 2025

Indra becomes most integrated European space company with control of Hisdesat and Hispasat: global Tier 1 status targeted by 2027/30

Renta 4 | The acquisition of Hispasat gives Indra a 43% stake in Hisdesat (military segment) which, together with the 7% it already owns, gives it control of Hisdesat and allows it to consolidate it. Indra will announce the degree of consolidation in its 4Q24 results presentation (Thursday 27 February). Hispasat and Hisdesat significantly boost Indra’s presence in upstream activities, with a potential market of around €36 million and EBITDA…

In Spain 5th February 2025

Trilantic, Torreal and Oriol family, 40% owners of Talgo, to auction stake in February

Link Securities | Trilantic, the largest shareholder of Talgo with 29% of the capital, will close in February an auction led by PwC for its stake, to which Torreal and the Oriol family, with a joint stake of 40% of the listed company, will also add theirs, the newspaper Expansión reports today. The three investors still have a syndicated stake in the Pegaso vehicle. Thus, those interested in this stake…

In Spain 5th February 2025

Santander reports profit of 12,574 million (+14%) in 2024

Jefferies | 4Q2 First Look -New Guidance Supportive to Earnings and Buybacks: A 4% PBT beat, positively impacted by an FX adjustment in Argentina, with PBT ex-Argentina in line. Beats come from ‘core’ geos such as Spain, Mexico and Brazil, with softer prints in rest of Europe. New guidance implies c1-1.5bn EUR upside to ’25 cons profits (+10% at the mid-point) and c4bn EUR upside to cons buybacks in ’25-26….

In Europe 4th February 2025

Santander appeals to CJEU against ECB’s decision to deduct deferred tax assets generated in Brazil from CET1 funds

Link Securities | The president of Banco Santander (SAN), Ana Botín, has assured that the bank’s British subsidiary (Santander UK) is not for sale and has reiterated that the UK is a key market for the Spanish bank, according to Bolsamanía. “The UK is not for sale. We love the UK and it will remain a key market. We review our strategy every year. The UK is profitable, it gives…

In Spain 4th February 2025

Spain’s unemployed up by 38,725 in January, reaching 2.6 million

Bankinter | The number of unemployed rose in January by 38,725 people compared to 55,000 expected and after a decrease of 25,300 in December. The number of unemployed stands at 2.6 million (up 1.5% month-on-month and down 6.1% year-on-year). Seasonally adjusted Social Security affiliates increased to 21.399 million people (35,800 more workers, up 0.17% month-on-month and 2.4% year-on-year). In non-adjusted monthly terms, the number of affiliates fell to 21.09 million…

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