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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.
eeuu inflacion precios

World economy 27th June 2024

Consumer confidence slows down in US

The Conference Board’s consumer confidence index declined in June, although somewhat less than expected: specifically, this indicator stood at 100.4 from 101.3 previously and slightly above the 100 expected. This lower confidence was mainly explained by the decline in the expectations component (73 versus 74.9 previously), as the reading of the current situation improved (141.5 versus 140.8 previously). Still in the US, the S&P Case-Shiller index of house prices in…

naturgy

Spanish economy 27th June 2024

Naturgy starts up third biomethane plant in Spain and raises production capacity to 29 GWh

Alphavalue/DIVACONS | The company announced the start-up of its third biomethane plant in Spain, which will increase its renewable gas production capacity to 29 GWh per year, an amount equivalent to the gas consumption of about 6,000 homes, according to a statement yesterday. On the other hand, Ángel Simón, CEO of Criteria Caixa, said that “one of the first initiatives, if not the first” of Criteria’s Strategic Plan is to…

france economy

In Europe 27th June 2024

France elections and markets: a “Liz Truss moment” in the making?

Gregor MA Hirt Global CIO Multi Asset (Allianz GI) | French President Emmanuel Macron called a snap general election following the success of far-right parties in the EU elections in June. The first round of the election is to be held on 30 June followed by a final round a week later. According to the polls, the governing party – President Macron’s Renaissance – is set to lose power although…

Latin America is the fourth largest investor in Spain?

Spanish economy 27th June 2024

Spain remains second largest investor in Latin America after US

In a year, 2023, of global decline in Foreign Direct Investment (FDI) and, despite the modest economic growth experienced by the region, Latin America maintained its position in this category, with a slight decrease of 1% in the arrival of foreign capital. The US, Spain, the Netherlands and Luxembourg were the main investors in Latin America during a year in which global FDI contracted by 2%, to 1.3 billion dollars….

poor

Spanish economy 27th June 2024

Caritas help 1.3 million Spaniards in 2023, half of them in work

Caritas, the Catholic Church’s organisation for helping the needy, assisted 1,327,298 people in Spain last year, 50% of whom (around 670,000) were in employment, i.e. they were working poor. Moreover, one out of every three people assisted was in an irregular administrative situation, according to the Caritas Confederal Report. The document details that, during 2023, Caritas invested a “record amount” of €486.5 million, which is €29.3 million (6.4% more) than…

faes farma muro

European economy 27th June 2024

Faes Farma eyes purchase of European pharmaceutical company

Norbolsa | Faes Farma (FAES) held its shareholders’ meeting on Tuesday, where it endorsed the appointment of the new CEO Eduardo Recoder de la Cuadra, who will take up his new position on 1 September. On the other hand, the company reported that it is studying the purchase of a European pharmaceutical company, without giving additional data. As for the new Derio plant, they recalled that it will come into…

aena airport

Spanish economy 26th June 2024

Aena raises traffic growth forecast for 2024 to 8.3%

Intermoney | Aena (Hold, PO€170) announced yesterday, after the market close, an upgrade of its guidance traffic growth in Spain for 2024, which it now forecasts to be +8.3% compared to 2023, compared to its previous estimate of between +3.8 and +7.1%, published last March. This guidance would imply traffic for this year of around 307 million passengers, or +11% over the pre-pandemic 2019 figure. Assessment: The increase in traffic…

ECB bonds

European economy 26th June 2024

Schnabel says threat of potential price shocks makes it impossible to commit to fixed path for rates

BancaMarch: ECB Executive Board member Isabel Schnabel has said that the threat of potential price shocks makes it impossible to commit to a fixed path for the level of interest rates. The monetary authority expects a process with ups and downs in price changes, although Schnabel said that recent progress points in the right direction. She added that now that inflation is easing, wage growth is gradually declining and there…

pensiones playita

Spanish economy 26th June 2024

June pensions, at €25 billion, double €12 billion annual defence budget

In June alone, Social Security has had to spend more than double the amount the state devotes to the defence budget over the course of a whole year. In total, €25,171.5 million was spent on the payment of contributory pensions, as the €12,751.5 million paid out each month were added to the €12,420 million needed to pay the extra summer salary. The €25,171 million that the June payments have meant…

When the Supreme Court adds to the lack of confidence in Spanish politics

In Spain 26th June 2024

Government and opposition reach agreement on renewal of General Council of the Judiciary

The PSOE and the PP have each chosen ten names to form the new General Council of the Judiciary (CGPJ). The body will thus be renewed after five and a half years of political deadlock, as these names will be endorsed by Congress and the Senate, with a three-fifths majority, because the votes of the Socialists and the PP will be sufficient. The new General Council of the Judiciary will…