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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.

Companies, Relevant News Item 25th February 2026

Iberdrola’s net profit improves by 12% in 2025 to €6.285 billion due to tax breaks on network investments in UK and capital gains from smart meters

Renta 4 | 2025 results in line with expectations across all lines of the income statement. The figures continue to be affected in comparison with 2024 by various extraordinary effects: capital gains generated in 2024 from the sale of assets in Mexico, while this year reflects the capital gains from the sale of smart meters and tax relief on network investments in the UK, as well as the recognition of…

Companies 25th February 2026

IAG, Top Pick: cheapest airline in both EU and US, despite leading margins in sector and best transatlantic exposure in its class

Morgan Stanley | Axel Stasse (analyst) believes that EU flag carriers are even better positioned than their US counterparts and reiterates IAG as his Top Pick. Our analysts in the US see a good setup for US companies given the greater strength of global traffic, but Stasse believes that European airlines offer very attractive relative value, with a growing discount to US airlines that is increasingly difficult to justify, given…

In Spain 25th February 2026

Young Spaniards say men being left at “disadvantage compared to women”

After 22 years of the enforcement of a Gender Violence Law that overturns the presumption of innocence for men without the need for any evidence, 46.1 percent of young Spaniards claim that “promotion of women’s equality has gone so far that men are now being discriminated against.” This is one of the findings from the “Youth and Gender” barometer prepared by the FAD Foundation, which should prompt reflection on the…

Companies 24th February 2026

Talgo to make significant investments until 2027 and create 200 new jobs at Álava factory

Alphavalue / Divacons | José Antonio Jainaga, president of Sidenor, Mirai and Talgo, announced significant industrial investments in the railway manufacturer until the end of 2027, along with the creation of 200 new jobs this year at the Rivabellosa plant (Álava), highlighting the project as a benchmark for public-private collaboration in the Basque Country. At the forum promoted by Fundación Vital in Vitoria, Jainaga also acknowledged that the company faces…

Companies 24th February 2026

Endesa’s profit increases by 21.5% to €2.3 billion thanks to strong performance of marketing and customer business

Renta 4 | Results exceeding our expectations and guidance, as a result of the strong performance of the marketing and customer business, where better margins, gas retail, higher hydroelectric production against lower wind and solar production, and the strong performance of combined cycles have offset the effects of prices on the short position (although they are performing better than our expectations). The distribution business reflects the re-settlements of previous years…

World economy 24th February 2026

US Reaches Record $1.2 Trillion Trade Deficit in 2025, the Year of Tariffs

Pyden&Rygel | Data released last week shows that the US nominal goods trade deficit widened to $1.2 trillion in 2025, the highest level since 1960. This occurred despite the most significant tariff tightening in decades, which had the explicit goal of narrowing that very gap. How can this contradiction be explained? The answer lies in the reorganization of supply chains. Importers took advantage of differences in tariff rates between countries,…

Companies, Relevant News Item 24th February 2026

Capital losses from Latin American sales and low growth lead Telefónica to €4,318M loss in 2025

The results were as expected; consequently, two hours after the market opened, the share price was up 0.47% to €3.66 per share. These results were more or less expected; consequently, an hour and a half after market open, Telefónica’s shares were down 0.11%, trading at €3.645 per share. According to the Bankinter analysis team, the results “are slightly lower than expected. In accounting terms, they reflect the sale of the…

Companies 24th February 2026

Joint venture formed by OHLA and Sando Construcción to build new €82.6 million maternity and children’s hospital in Huelva

Alphavalue / Divacons | The joint venture formed by OHLA and Sando Construcción was yesterday awarded the contract to build the new Maternity and Children’s Hospital in Huelva, worth €82.6 million. This is a project for the Andalusian Health Service that will be integrated into the Juan Ramón Jiménez University Hospital complex. The project involves the construction of a 36,372-square-metre building, which OHLA says is ‘designed to integrate functionally and…

In the World, Uncategorised 24th February 2026

US inflation approaching 3%, economy slowing to 1.4% quarterly from 4.4% previously, discouraging Fed from lowering rates

Bankinter | The first reading of Q4 2025 GDP in the US shows growth moderating more than expected to 1.4% annualised quarterly against 2.8% expected and 4.4% previously. However, in year-on-year terms, the decline is milder: 2.2% against 2.3% previously, with consumption at 2.2% against 2.6% previously. The negative aspect comes from the GDP price deflator, which rose to 3.3% year-on-year against 3.0% previously. The December Private Consumption Deflator rose…

In Europe 24th February 2026

Eurozone composite PMI rises to 51.9 points against 51.3 points in January, due to increased production in manufacturing and services

Singular Bank | According to preliminary readings, the Eurozone manufacturing PMI rebounded to 50.8 points in February (compared to 49.5 points in January), exceeding analysts’ consensus estimates (50.8 points) and reaching its highest level since June 2022. At the same time, the services PMI rose slightly by 0.2 points to 51.8 points. Given this development, the composite PMI rose to 51.9 points (compared to 51.3 points in January), explained by…

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