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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.
china autos

In the World 25th September 2024

US plans ban on Chinese vehicles over fears of sabotage and potential national security risks

BancaMarch: The US plans to put a ban on Chinese vehicles over fears of sabotage and potential national security risks. The US Department of Commerce has proposed a veto on all internet-connected vehicles with software or hardware from China. The move is justified by growing concerns that cars could be remotely manipulated or collect information on drivers and US infrastructure. As the national security advisor noted: with millions of vehicles…

Talgo new

European economy 25th September 2024

Talgo and Pesa group, Poland’s largest train manufacturer, sign strategic collaboration agreement

Link Securities | Talgo (TLGO) has taken advantage of the Innotrans trade fair in Berlin (Germany) to seal a strategic agreement with the Pesa group, Poland’s largest train manufacturer, according to Expansión newspaper. In the memorandum of understanding signed yesterday, both companies have agreed to carry out exploratory work to prepare future agreements along three main business lines: i) the tender process for the purchase of very high-speed rolling stock…

Tesla Bitcoin

In the World 25th September 2024

Tesla’s 2X ETF and the betting shops

Julio López (Attitude Gestión SGIIC) | Beyond other considerations, two extremely dangerous trends or thoughts are converging in the market. On one hand, there is the plan of all the politicians and demagogues who are sprouting like mushrooms, believing that everything can be solved by resorting to debt (which belongs to no one). They promise endless tax cuts and public spending without ever explaining what they will do about the…

Sanchez

In Spain 25th September 2024

Sánchez negotiates new concessions to Puigdemont to save his 2025 Budgets

The Government was planning to put to a vote the same budget spending ceiling that sank in July this Thursday in the Congress of Deputies, but anticipating the same result, it has decided to rectify. The Government withdrew yesterday from the agenda the vote on the stability path, thus avoiding chaining another parliamentary setback and making another defeat visible in the chamber. “There is room for negotiation,” they explain in…

Naturgy edificio 640x420

Spanish economy 25th September 2024

Naturgy launches offer to buy back secured bonds for €1,000 million

Alphavalue/DIVACONS | The gas and electricity company has launched a buyback offer for a maximum amount of €1 billion, aimed at holders of several series of covered bonds maturing between 2025 and 2028, the company informed the Spanish Securities and Exchange Commission (CNMV) on Monday. In particular, through Naturgy Finance Iberia, the company has announced an invitation to the holders of a series of guaranteed bonds for an amount of…

Inditex new

World economy 24th September 2024

Zara Streaming distribution channel – already operating in China – to start in Europe on Wednesday

Renta 4 | The textile company will launch its Zara Streaming channel on 25 September. Zara began selling clothes via live or streaming internet broadcasts in November 2023 in China. Inditex announced in the presentation of 2Q24 results that it would extend streaming sales to the main European markets in the same month of September. For its launch in Europe, Inditex will count on the participation of the models Cindy…

eurozona mapa billete 1

European economy 24th September 2024

Eurozone economic activity shrinks in September for first time in seven months: composite PMI falls to 48.9 from 51

CdM | Eurozone private sector activity contracted in September for the first time in seven months, according to preliminary PMI data from Hamburg Commercial Bank and S&P Global, which also shows signs of weakening on the services side. In particular, the advance composite PMI for the euro area came in at 48.9 from 51 in the previous month, its worst reading in eight months. In the case of the services…

Iberdrola

Spanish economy 24th September 2024

Iberdrola places €2.15 billion in bonds for the purchase of the British ENW

Iberdrola, with €45.153 billion in debt at the end of the first half, has just completed the largest senior bond issuance in its history, raising €2.15 billion in the markets. This is the eighth financial operation—between loans and bond issuances—that the company led by Ignacio Galán has carried out this year, totaling €5.925 billion.The senior bond issuance closed this Monday will, according to the company itself, finance its expansion in…

Grenergy

In the World 24th September 2024

Grenergy buys 100% of a 77 MWp operating project and 923 MWp of solar projects in northern Chile

Grenergy_exit_bagLink Securities | Grenergy (GRE) reported on Sunday its results for the first half of the financial year (1H2024), of which we highlight the following aspects: Revenues: €192.3m (-15.0% year-on-year), of which Energy revenues reached €25.9m (-3.0% year-on-year). Operating cash flow (EBITDA): €31.0 million (+43.0% year-on-year) Net operating profit (EBIT): €22.1 million (+60.0% year-on-year) Net profit: €0.4 million (-89.0% year-on-year) Net financial debt: €736.5m (+27% year-on-year) DFN/EBITDA ratio: 6.6x (times)…

grifols edificio

Spanish economy 23rd September 2024

Brookfield fund extends study process for another month to decide whether to present takeover bid for Grifols

Bankinter | Brookfield has not obtained the necessary funds to present the takeover bid nor has it reached an agreement with the banks to refinance Grifols’ debt, which amounts to around €10,000 million, so it is to extend one more month the study process to decide whether to present a takeover bid for Grifols. Opinion of the analysis team: Negative news. On 8 July, we learned that Brookfield was analysing…