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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.
inflation rises

In Spain 31st January 2025

CPI rises two tenths and starts year at 3% due to increase in electricity and gasoline prices

With the advance of the year-on-year CPI in the first month of 2025, inflation has recorded four consecutive months of increases, reaching its highest value since June, when it stood at 3.4%. The INE includes in the advance data of the CPI an estimate of core inflation (excluding unprocessed food and energy products), which decreased by two tenths in January, down to 2.4%. In monthly terms (January 2025 compared to…

eeuu capitolio

In the World 31st January 2025

Trump’s plan to freeze government programme grants and loans blocked

BancaMarch | Trump’s plan to freeze government programme grants and loans has been blocked. The new administration’s measures have caused a stir across the country, as they could freeze payments to medical research programmes, road construction or natural disaster aid. The federal judge issued the temporary stay just minutes before the executive order was due to take effect and scheduled a hearing for 3 February. The White House has issued…

Caixabank

Spanish economy 30th January 2025

Caixabank’s profit rises to €1,539 million in 4Q24 due to lower provisions and extraordinary impact of sale of JV with Global Partners and Erste

Renta 4 | The results for Q4 2024 have shown a net interest margin slightly above expectations (+1% versus r4 estimated and consensus), and income from services -1% versus R4 estimated and +4% versus consensus. Gross margin was in line with R4 estimated and 2% higher than expected by the consensus. Net profit was 4% higher than R4e and 9% higher than the consensus, mainly due to lower provisions and…

heathrow arrivals

In Europe 30th January 2025

Ferrovial: British government supports third runway at Heathrow to compete with other major hubs and invites proposals

Link Securities | The United Kingdom Chancellor, Rachel Reeves, gave a speech yesterday in Oxford in which she emphasised the importance of political and economic stability and the stability of public finances; she proposed reforms to promote trade and the construction of all kinds of projects, and wants to incentivise public and private investment, according to Expansión. The most important announcement concerns the third runway at London Heathrow Airport, the…

BBVA vela atardecer

Spanish economy 30th January 2025

BBVA beats expectations with €2,433 million profit in Q4 2024 (+18%) thanks to good business momentum in Spain and €993-million share buyback plan

Bankinter | The bank beats expectations with a net attributable profit of €2,433 million in Q4 2024 (up 18.0% against €2,243 million estimated) thanks to the good momentum of the business in Spain and improves shareholder remuneration with a €993 million share buyback plan. Key figures for 2024 compared to the consensus forecast (Bloomberg): Net interest income: €25,267 million (up 9.0% versus €24,780 million estimated); Gross income: €34,481 million (+20.0%…

Tourism

In Spain 30th January 2025

Spain’s GDP grows 3.2% in 2024, and 3.5% in Q4 2024

Bankinter | The preliminary GDP for the year 2024 grows by 3.2% year-on-year, after announcing a Q4 2024 growth of 3.5% year-on-year that once again surprises with its strength. In quarter-on-quarter terms, the pace remains at 0.8% quarter-on-quarter since Q2, while Q1 is revised upwards to 1% (from 0.9%). Domestic Demand once again increases its contribution to growth by 3.5 percentage points year-on-year (1.2% quarter-on-quarter), where the improvement in Investment…

Indra aeropuertos

In the World 30th January 2025

Indra implementing supply and logistics systems at Port of San Antonio in Chile

Alphavalue/DIVACONS | The Spanish IT services and consultancy company announced on Tuesday that it is implementing the digitalisation and interoperability systems of all the processes involved in the supply and logistics chain of the Port of San Antonio in Chile, the country’s main and largest port. Indra’s Port Community System (PCS) integrates in a single digital platform in the cloud, all the information related to the activities of transport of…

Talgo diferente

In Europe 30th January 2025

Polish railway manufacturer controlled by PFR determined to take joint control of Talgo

Link Securities | Pesa, the Polish railway manufacturer controlled by Polish Development Fund (PFR), equivalent to the Spanish ICO, is determined to take joint control of the Spanish company Talgo (TLGO), respecting the conditions imposed by the Spanish government in terms of respecting the Spanish nature of the train manufacturer and protecting the local industrial fabric, according to the newspaper Expansión. Thus, the Polish state investor is willing to agree…

centros de datos

Spanish economy 30th January 2025

Merlin Properties, one of DeepSeek’s victims in Spain owing to exposure to AI data centre deployment

Alphavalue/ Divacons | The real estate developer’s shares fell 4.68% yesterday due to its exposure to the development of data centres for AI. Today it closed the market with a value of €5,851 million. Banco Santander, the REIT’s main shareholder with 22%, lost €63 million. Merlin Properties increased capital by €920 million in July last year to undertake its investments in platforms that host data centres, a line of business…

telefonica edificio

World economy 29th January 2025

Telefónica hires J.P. Morgan to study sale of HispAm subsidiary in Argentina

Renta 4 | Telefónica (TEF) has hired J.P. Morgan to study the sale of its subsidiary in Argentina, according to press reports. The potential buyers are local companies. MiliCom also stands out, to which Telefónica has already sold several Latin American subsidiaries and is in the process of selling the Colombian one. In addition, Telefónica Peru has sent a relevant fact in which it highlights that it is in talks…