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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.
enagas logo

Spanish economy 1st February 2024

Enagás estimates Spanish investment in H2Med at €1 billion, as it registers 650 green hydrogen projects

Norbolsa| The company estimates that the investments planned to achieve the Spanish hydrogen infrastructure total €4.9 billion (€1.2 billion in underground storage and €3.7 billion in infrastructures). In this sense, for H2Med, an investment of €2,5 billion was estimated, of which €1 billion would be Spanish investment. The company registered 650 hydrogen projects from a total of 206 companies in the “Call for interest” process it launched last September to…

Amadeus

European economy 1st February 2024

Amadeus acquires Portugal’s Vision-Box, specialised in passenger biometrics, for €320m, equivalent to 16x EBITDA 2023

Renta 4 | Amadeus has reached an agreement to acquire Vision-Box, a Lisbon-based company that provides biometric (facial recognition) solutions for passengers in airports, airlines and border systems. Vision-Box’s systems (hardware and software) facilitate passengers’ journey from airport check-in, check-out, lounges and security screening. Vision-Box is expected to generate €70 million in revenues and €20 million in EBITDA by 2023, is present in more than 100 countries, generates 50% of…

repsol estacion servicios

Spanish economy 1st February 2024

Norges Bank increases participation in Repsol’s capital by 0.88% to 5.417%

Norges Bank, which manages Norway’s sovereign fund, has reinforced its commitment to Repsol (REP) and has raised its stake in the energy company’s capital to 5.417%, its highest position since it joined the company. Specifically, the firm has increased its participation in Repsol by 0.88% of the capital from 4.535%, which was the last position it had communicated at the beginning of this month. At current market prices, this 5.417%…

tractorada

In Spain 1st February 2024

Minister of Agriculture tries to curb protests in coming weeks

The Minister of Agriculture, Fisheries and Food has called the majority agricultural professional organizations, Agrarian Association of Young Farmers (Asaja), Coordinator of Farmers and Livestock Organizations (COAG) and Union of Small Farmers and Livestock Growers (UPA), to a meeting at the Ministry headquarters this Friday, February 2 in an attempt to stop the protests planned for the coming weeks. The head of Agriculture, Fisheries and Food, Luis Planas, thus responds…

IMF outlook

In Europe 31st January 2024

IMF forecasts back soft landing and point to Spain as eurozone leader

BancaMarch: International Monetary Fund forecasts support a soft landing. Global economic growth estimates for 2024 have been revised upwards by two tenths of a percentage point, maintaining the same levels as in 2023, +3.1%. This is due to the improved outlook for the United States and China, the world’s two largest economies. In the case of the United States, the variation in GDP falls from +2.5% in 2023 to +2.1%…

fed powell nov 2023

In the World 31st January 2024

Powell looking for time

BancaMarch: Powell’s first press conference of the year. At this meeting, the top US monetary authority will try to buy time in the face of the markets, reaffirming the message of caution in the face of inflation far from the 2% target and a resilient economy. We do not expect any changes in interest rate policy and it does not seem to be the time to announce anything regarding the…

IAG new

European economy 31st January 2024

IAG: air freight cushions risks around airline pricing power 2024

Morgan Stanley | Capacity growth in long-haul travel poses risks around 2024 pricing power for flag carriers, especially those with exposure to the North Atlantic. However, Conor Dwyer (analyst), notes that rising air freight yields (+25% in December to 1.9x 2019 levels), as a result of disruptions in container shipping, should limit the impact. This dynamic is more favourable for Air France and Lufthansa, more exposed to air freight than…

An exterior view of China Evergrande Centre in Hong Kong

World economy 31st January 2024

Evergrande’s liquidation order affects foreign investors’ sentiment more than the economy

Alicia García Herrero (Natixis) | As the landmark case of China’s property turmoil, Evergrande’s liquidation order marks a new beginning of the industry’s downsizing, or in polished terminology, rightsizing. We argue that the direct macroeconomic impact is limited, but it may come with a snowball effect on the already worsened sentiment on foreign investors, if not properly handled. While Evergrande’s liquidation order may look astonishing, it is more a symptom…

Banco Santander

Spanish economy 31st January 2024

Santander reports attributable profit of €11,076 million for 2023, up 15%

Santander achieved an attributable profit of €11,076 million in 2023, up 15% in current euros versus 2022, as strong growth in revenues, particularly in Europe, growth in customers and good cost control more than offset the expected year-on-year growth in provisions. In the fourth quarter, attributable profit increased 42% (+28% in current euros) versus the fourth quarter of 2022 to €2,933 million. Santander increased profitability and shareholder value, with a…

Puigdemont

Spanish Politics 31st January 2024

Puigdemont overturns the amnesty law, wants to continue negotiating it

The amnesty law returns to the Justice Commission by decision of the formation led by the former president of the Generalitat of Catalonia, Carles Puigdemont, with the sole purpose of converting a grace measure with exceptions into a “comprehensive amnesty” that protects all those who participated directly or indirectly in the separatist attempt and in the revolt against the judicial proceedings, and which, in addition, includes any type of crime…