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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.
BCE Atril

European economy 5th January 2024

Credit demand remains very weak and credit standards tighten significantly

Link Securities | As published on Tuesday by the ECB, the monetary aggregate M3 declined 0.9% in the month of November at a year-on-year rate (-1.0% in October), slightly more than the 0.7% drop expected by the FactSet consensus of analysts. M1, which includes demand deposits, fell by 9.5% year-on-year in November, down from 10.0% in the previous month. The breakdown showed continued weakness in credit dynamics. The year-on-year growth…

telefonica logo nuevo

Spanish economy 5th January 2024

Telefónica closes redundancy proceedings affecting 3,421 employees

Link Securities | Telefónica’s most representative trade union organisations have reached an agreement to sign the Third Collective Bargaining Agreement for Related Companies, valid until 31 December 2026 and extendable for a further year, with the aim of moving towards a more digital, flexible company that is prepared for future challenges in a highly competitive context of profound transformation. This agreement will allow Telefónica, among other things, to continue its…

Ryanair

In Europe 4th January 2024

Several online travel agencies, including Booking, Kayak and Kiwi, stop selling Ryanair flights on their platforms

Norbolsa | Several online travel agencies, including Booking, Kayak and Kiwi, have stopped selling Ryanair flights on their platforms since early December due to regulatory and legal pressures. Ryanair believes that this move will not have a major impact on its accounts, pointing to a 1% or 2% increase in the percentage of empty seats on its flights in the months of December and January, but with no major impact…

unemployment spain

Spanish economy 4th January 2024

Spain’s tangled unemployment figures: 2.7 million people or 3.2 million?

According to data provided by the Ministry of Labour, the number of unemployed people registered in the offices of the State Public Employment Service (SEPE) fell in December by 27,375 people (-1%). In year-on-year terms, unemployment fell in December by 130,197 people (-4.59%), to 2,707,456 people, the lowest figure for this month since 2007. These figures, however, should be qualified. According to the USO trade union, the tangle of data…

ESG dados 2

Relevant News Item 4th January 2024

European Council takes lead on ESG certification regulation

F.R.| The European Council will soon start negotiations to take forward the new EU regulation on ESG rating providers, which already has a proposal for a Regulation on the transparency and integrity of environmental, social and governance rating activities published in June 2023. The purpose of this new regulation is to “strengthen the reliability and comparability of ESG ratings by improving the transparency and integrity of ESG rating providers’ operations,…

Logista libros

European economy 3rd January 2024

Logista cements European expansion and position in pharmaceutical distribution with €8m acquisition of Belgium Parcels Service

Alphavalue/ Divacons| The company, one of the largest logistics operators in Europe, announced yesterday to the National Securities Market Commission (CNMV) the acquisition of Belgium Parcels Service (BPS), a company specialising in the express distribution of pharmaceutical parcels in Belgium and Luxembourg. The Europa Press agency indicated that the acquisition of 100% of BPS has been executed for a value of approximately €8 million, subject to the closing of the…

CAF

In Europe 3rd January 2024

CAF to supply 40 trams to Italian operator ATAC for Rome’s fleet in deal worth over €130m

Link Securities| According to a Significant Event sent to the National Securities Market Commission (CNMV), the operator ATAC S.p.A. has awarded CAF the framework agreement for the supply of the new fleet of trams for the Italian capital. Specifically, the contract covers the design and manufacture of 40 trams, their maintenance for a period of five years and the corresponding spare parts. The agreement also includes the possibility of increasing…

Iberdrola Avangrid

Relevant News Item 3rd January 2024

Iberdrola US subsidiary Avangrid pulls out of alliance with PNM Resources

Avangrid, Iberdrola’s US subsidiary, announced on Tuesday that it is terminating its merger agreement with PNM Resources due to non-compliance with the conditions set for the closing of the transaction.In this way, the group chaired by Ignacio Sánchez Galán renounces what was its big move to create an energy ‘giant’ in the United States with a market value after the merger of more than $20,000 million dollars (about €18,140 million)….

globaldominion edificio

Companies, In Spain 2nd January 2024

Global Dominion to sell Valdecarretas photovoltaic park for more than €37m, with associated debt of around €30m

Banc Sabadell| Global Dominion (DOM) announced that it has reached an agreement for the sale of the Valdecarretas photovoltaic park (Zamora, Spain) to Renewables Japan Co. The transaction has been closed for more than €37 million (EV). The park, which has an installed capacity of c.38 MW, has been in operation since last June. Assessment: Positive news with limited impact. The transaction is not surprising given that Dominion had already…

gasolina

In Spain, Spanish economy 2nd January 2024

2023 ends with petrol prices in Spain at lowest average in almost two years

BancaMarch: Gasoline has said goodbye to 2023 in Spain at its lowest average price level in almost two years. Three days to go before the end of the year, petrol was averaging €1.532 per litre this week, the lowest level in 2023 and in almost two years, as only in the week of 20 January 2022 was the price lower than this. On the other hand, and still according to…