Top Stories

Articles by The Corner

About the Author

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.
Applus

Spanish economy 24th January 2024

Apollo acquires 21.85% of Applus+ and raises takeover bid price to €10. 65/share

Link Securities| In relation to the application for authorisation of the voluntary takeover bid launched by Manzana Spain Bidco, S.L. U (Offeror) on all the shares of Applus (APPS), filed, published and which was authorised by the National Securities Market Commission (CNMV) on 17 January 2024, the Offeror informs that on 23 January 2024, by virtue of four sale and purchase agreements entered into with holders of Applus shares and…

bank spain

Spanish economy 24th January 2024

Bank of Spain warns of risks to tourism sector and conditions necessary to maintain competitiveness

BancaMarch: The Governor of the Bank of Spain (BdE) warns of the medium-term risks to the tourism sector and the conditions necessary to maintain competitiveness. Pablo Hernández de Cos spoke at the 10th Tourism Innovation Forum, referring to the importance of an economic policy framework that favours legal certainty. In a context of high growth in unit costs, which particularly affects a labour-intensive sector, coupled with falling productivity, this could…

ACS new

In Europe 24th January 2024

ACS looks to make over €2bn from sale of UK offshore wind farm and services subsidiary Clece

Link Securities| ACS is looking to find buyers for a number of the construction company’s assets before passing the rating agencies’ solvency exam, according to the digital portal ElConfidencial.com. According to several sources in the sector, the construction company wants to divest an offshore wind farm in the UK and Clece, its services subsidiary, transactions for which it can earn more than €2 billion.

Puigdemont

In Spain 24th January 2024

Fugitive Puigdemont amnesties himself: government invents – and includes in the amnesty – terrorism that respects human rights and violates them ‘unintentionally’

The amnesty law is closed with a legal trick that consists of distinguishing different degrees in the crimes of terrorism. Those accused of this crime will be exonerated if there was no “direct intent” to provoke “serious human rights violations”. This inclusion of terrorist crimes within the perimeter of the amnesty law as long as “manifestly and with direct intent” the terrorists have not caused “serious violations of human rights”…

Talgo building

Spanish economy 24th January 2024

Talgo concludes buyback programme with acquisition of 2.5 million shares representing 1.99% of share capital

Link Securities | The railway manufacturer informed the National Securities Market Commission (CNMV) yesterday that, following the latest acquisitions reported yesterday, it has reached the maximum monetary amount established in the Buyback Programme, having invested €9,999,521.35 and acquired a total of 2,517,562 shares representing 1.99% of Talgo’s share capital. Thus, the company announces the completion of the Buyback Programme. Talgo is currently bidding for a contract from state-owned operator Deutsche…

sanchez

In Spain 24th January 2024

Social Security debt rises by €90,000 to €106,000 million with Sánchez governments

And this year the State will once again come to the rescue of the pension system with an injection of €43,000 million in order to be able to meet the promised payments. At the end of September, the Social Security coffers accumulated a debt of €106 billion euros, almost four times more than the €27 billion it had at the end of 2017. And that is before taking into account…

grifols

World economy 23rd January 2024

New threat to Grifols: Sanofi buys INBRX-101, biotech company Inhibrx’s best asset

Morgan Stanley | Sanofi has announced the purchase of INBRX-101, the best asset of the biotech company Inhibrx, which is a recombinant alpha-1 augmentation therapy for treating alpha-1 antitrypsin deficiency (AATD), a protein produced in the liver that protects the lungs. This drug could pose a real threat to Grifols’ alpha 1 franchise (GRF), which currently accounts for 12% of sales and 20-30% of gross profits. In addition, the acquisition…

fcc edificio

World economy 23rd January 2024

FCC, Italy’s Webuild, and US firm Aecom to carry out several projects on Toronto’s underground network for €1.362 million

Link Securities| FCC has been awarded a new contract in Canada to build new tunnels and stations in the Toronto underground network, a project that the infrastructure department of the province of Ontario estimates at up to €1.362 million, the digital portal CapitalBolsa.com reported. Specifically, the Spanish construction company will build, in consortium with the Italian company Webuild and the US company Aecom, three kilometres of twin tunnels on Papa…

3. Public debt

European economy 23rd January 2024

Spain has fourth worst debt figure in Europe, 110% of GDP, and public deficit at 4.3%

Eurostat has released data on public debt and deficit at the end of the third quarter of the previous year for the euro area and the EU-27. And in both statistics, the Spanish economy has not fared very well in relation to its European neighbours: Spain ranks fourth among European countries with the highest debt-to-GDP ratio (at the end of the third quarter of last year). This is part of…

TecnicasReunidas

World economy 23rd January 2024

Técnicas Reunidas awarded $2.15 billion contract to produce ethanol, propane and butane in Saudi Arabia

Yesterday, Técnicas Reunidas informed the National Securities Market Commission (CNMV) that Saudi Aramco, one of the world’s largest energy companies, has awarded a joint venture formed by the Spanish company TRE and the Chinese group SEG (Sinopec Engineering Group) the development of new Natural Gas Liquids (NGL) fractionation facilities in Saudi Arabia. The works will be carried out on the basis of two EPC (engineering, procurement and construction) contracts; one…