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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.
grifols edificio

In Spain 26th December 2024

Grifols completes bond issue earmarked for redemptions, settlements and corporate purposes

Link Securities | Grifols (GRF) informed the National Securities Market Commission (CNMV), in relation to a bond issue reported on 11 December that: the Bonds have been issued and the proceeds have been received and, therefore, the issue has been completed. The net proceeds of the issue have been used (i) together with cash on hand, to redeem in full on 27 December 2024 GRF’s 1.625% Senior Secured Notes due…

Sin título 3

European economy 26th December 2024

Lagarde says inflation very close to target, but urges vigilance on services inflation

Norbolsa | Christine Lagarde has declared that they are very close to bringing inflation to target, while warning that services inflation still requires close monitoring. The other focus of questions is around the impact of Trump’s tariff measures, again coming out in defence of free trade and the danger of such policies. The Governor of the Irish Central Bank, Gabriel Makhlouf, also said that Trump’s policies are unpredictable, and is…

Spain EUFunds

Spanish economy 26th December 2024

Spain grows 3.3% year-on-year in 3Q24, but moderation expected in 4Q24 with added difficulty of DANA impact

Bankinter: 3Q GDP (final) grows 3.3% year-on-year (versus 3.4% year-on-year preliminary and 3.2% previous),while in quarter-on-quarter terms confirms 0.8% quarter-on-quarter preliminary (and 0.8% previous). Link to the document. Analysis team’s view: Our estimates for the year anticipate 3.1% year-on-year growth, following the strength confirmed in the first 9M of the year (with a slight year-on-year change in Q3, but maintaining 0.8% quarter-on-quarter and projecting 2.2% year-on-year for 2025. We estimate…

caf cartel fachada

In Europe 23rd December 2024

CAF to supply 22 trains to French operator SNCF Voyageurs for over €400 million

Link Securities | French operator SNCF Voyageurs has once again entrusted CAF (CAF) with the supply of 22 Intercités trains, known as Oxygène, which will serve the Bordeaux-Marseille line, in addition to the 28 trains contracted in 2019 for the Paris-Limoges-Toulouse and Paris-Clermont-Ferrand lines. The initial contract for Oxygène trains provided for the option to extend the supply by up to 75 additional trains. The new agreement signed for 22…

enagas logo

Spanish economy 23rd December 2024

Enagás: ICSID agrees with Enagás in dispute with Peru over GSP and recognises compensation of €186 million

Bankinter | The International Centre for Settlement of Investment Disputes (ICSID) has ruled in favour of Enagás in its litigation against Peru and has ordered the South American country to pay Enagás $194m (€186m) for the proceedings initiated in relation to the Gasoducto Sur Peruano (GSP) project. Enagás filed for arbitration to recover its investment in the GSP after the Peruvian government terminated the gas pipeline concession on 23 January…

energy sector

In Spain 23rd December 2024

Government approves 2025 energy tax extension today – but it won’t pass Congress

Norbolsa | This Monday a royal decree law will be approved with the extension of the tax on large energy companies to 2025, a commitment of the Government with its partners -ERC, Bildu and BNG- but it seems unlikely that it will get the approval of Congress due to the opposition of PNV and Junts. As with any decree law, the extension of the energy tax will have to be…

Telefonica central

Spanish economy 23rd December 2024

Telefónica begins sale of up to 40% of stake in British fiber for €1.2 billion

Telefónica has started distributing the sale documents for the fiber optic company it shares with Liberty Global in the UK through the operator Virgin Media O2 (VMO2). The company’s goal is to raise around €1.2 billion by placing between 20% and 40% of its infrastructure company. According to Mergermarket, the aforementioned Hispano-British NetCo could be valued between £4 billion and £5 billion (€4.8 billion and €6 billion), in a deal…

ence energiaycelulosaCM

Relevant News Item 21st December 2024

Ence acquires first biomethane plant for undisclosed price

Renta 4 | Ence has closed the acquisition of a biomethane generation plant in the town of La Galera (Tarragona), with a capacity to produce up to 50 GWh of biomethane per year, with its corresponding sustainability certificates. It has also signed a 15-year agreement with a gas trading company for the sale of the biomethane produced by the plant. As part of its business plan, Ence Biogas plans to…

Sanchez

In Spain 20th December 2024

Government loses 20 votes in Congress in just one day

The PSOE suffered around twenty defeats in the Plenary of Congress this Thursday, which sets a record for them in a single day (the previous record was eight). With this, they closed the first year of Government with 75 defeats that not only pertain to control initiatives without legal effects but also to laws.In the first round of votes during the plenary session, when amendments to the Law Against Food…

MadridNuevoNorte

In Spain 20th December 2024

New Madrid neighborhood gets go-ahead: Madrid Nuevo Norte, largest urban development in Europe

After 30 years of blockage, the definitive step has just been taken for the largest urban development in Spain and Europe to become a reality. Crea Madrid Nuevo Norte (CreaMNN, the project developer, participated by BBVA, Merlin, and Sanjose) and the public railway entities (Adif, Adif Alta Velocidad, Renfe Operadora, and Renfe Ingeniería y Mantenimiento) have formalized before a notary the transfer of the lands of the railway facilities in…