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Articles by The Corner

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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.
oil barrels

World economy 10th December 2024

OPEC to delay planned 180,000 bpd production hike by three months due to China’s economic slowdown

Bankinter: OPEC is to delay the planned production increase of 180,000 barrels per day by three months. This is positive, if not unexpected, news for oil. The current OPEC cuts amount to 5.86 million barrels of oil per day (bpd), which corresponds to around 5.7% of world oil demand. Within the aforementioned cuts, 3.66M bpd will be extended until the end of 2025 and the remaining 2.2M bpd will start…

Redeia nuevo

In Spain 9th December 2024

Redeia commits to marine energies and eyes taking over country’s marine substation network

Link Securities | The company wants to become the monopoly of the marine electricity network, according to the newspaper elEconomista.es. Redeia is looking for new business niches to strengthen the company’s growth and has set its sights on the development of marine energy, mainly wind power. According to several industry sources consulted by this newspaper, the system operator has already shown the Government its interest in taking charge of the…

mercosur UE

In the World 9th December 2024

Mercosur, “an economic opportunity and a political necessity” for EU, says Von der Leyen, but “an unacceptable pact” for France

Link Securities | The President of the European Commission (EC), Ursula von der Leyen, on Friday in Montevideo closed the trade agreement with the Mercosur countries that the European Union (EU) has been negotiating with this region for 25 years. The agreement is still flatly opposed by France, whose President, Emmanuel Macron, warned the day before that the pact in its current state “is unacceptable”, although he failed to stop…

euro espana

In Europe 9th December 2024

Eurozone GDP grows 0.4% in Q3 2024

The Gross Domestic Product (GDP) of the Eurozone expanded by 0.4% in Q3 2024 compared to the previous quarter, in line with its preliminary reading and marking its highest quarterly growth rate in two years, following the 0.2% increase in Q2 2024. Household consumption (+0.7%), the rise in gross fixed capital formation (+2.0%), and inventories were the largest contributors, with public spending also recording an increase (+0.5%). On the other…

President Macron

In Europe 9th December 2024

Improvising a new government for France

The weekend ends with a focus on France, following the resignation of Prime Minister Michel Barnier due to the no-confidence motion backed by Marine Le Pen’s far-right party. According to Le Pen, the outgoing administration’s plan to bring the budget gap down to 3.0% by 2029 was not credible for the country, and a “reasonable trajectory” based on wealth creation and savings is needed. “We want to absorb the deficits,…

Closed

In Spain 9th December 2024

Bankruptcies of SMEs reach 15-year high after 26% rise

According to the Spanish Confederation of Small and Medium Enterprises (Cepyme), throughout the year, between the first and third quarters, there have been 7,182 bankruptcies of SMEs and individuals with economic activity, which is 26% more than during the same period in 2023. Additionally, the confederation highlights that “this is the highest figure in the last 15 years for the first nine months of the year.” Of those bankruptcies, 7,064…

ACS novisimo

In the World 6th December 2024

ACS, through Turner, forms part of consortium to build data centres for Meta in US for €9.5 billion

Intermoney | ACS (Buy, PO €48), through its US subsidiary Turner, is part of a consortium of contractors that will build a large data centre complex in the US state of Louisiana, which will require an investment of around €9.5 billion, according to Expansión newspaper on Thursday. Other developers involved in the project include DPR and Morterson. According to Turner, the new 122,000 square metre campus will be Meta’s largest…

Caixabank kio 2

In Spain 6th December 2024

Caixabank CEO warns banking tax will reduce volume of credit and make it more expensive

Link Securities | Caixabank (CABK) informed the National Securities Market Commission (CNMV) that the rating agency Fitch Ratings Europe Limited (Fitch) has upgraded the following credit ratings of the Bank: Long-term issuer rating to A- from BBB+. Senior preferred debt rating to A from A-. Non-preferred senior debt rating to A- from BBB+. Subordinated Tier 2 debt rating to BBB from BBB-. Derivatives counterparty rating to A(dcr) from A-(dcr). Long-term…

China EEUU choque

In the World 6th December 2024

US launches third package of microchip restrictions, China bans export of certain rare earths and key minerals

Banca March: In the intensifying trade disputes between China and the US, the US has launched the third package of microchip restrictions and China has responded by banning the export of certain rare earths and key minerals. The Asian giant has focused its retaliation on blocking shipments of gallium, germanium, antimony and graphite to the United States. Germanium is used in semiconductors, infrared technology, fibre optic cables and solar cells….

Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

In Spain 5th December 2024

Spanish students fall behind in Maths and Science: 28th out of 32 in EU and OECD ranking

The TIMSS study, the second largest international assessment, comparable in magnitude to the PISA report but focused on fourth-grade students aged 9 and 10, brings bad news for Spain, which ranks 28th in mathematics among the 32 participating OECD or EU countries. Castilla y León and Asturias occupy the top positions, while Catalonia is again at the bottom.This is reflected in the 2023 International Study of Trends in Mathematics and…