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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.
ai person

In Europe 16th March 2024

Europe becomes first region to set AI regulatory standards

Banca March: The European Parliament approves the first regulatory standards for Artificial Intelligence. Europe becomes the first region to set fundamental rights and security standards for the dark side of this type of technology. It is expected to enter into force in May, although it is not thought it well be implemented until 2026. The regulation contemplates the classification of applications according to risk, in order to assign a series…

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Spanish economy 15th March 2024

Spain: 700,000 SMEs running at a loss

Fernando Santiago, president of the Spanish administrative managers, explains: “Our latest barometer, carried out among 6,000 Spanish registered administrative managers, shows that 23% of the 2.9 million small and medium-sized businesses closed in losses in 2023,” Fernando Santiago * | Almost 99% of businesses in Spain have 49 or fewer employees. And if you make a list of the entrepreneurs you know, you will be surprised: the hairdresser’s, the baker’s,…

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Spanish economy 15th March 2024

Spain: inflation at 2.8% with core at 3.5% and food at 5.3%

According to the final reading of the data, released yesterday by the National Statistics Institute (INE), Spain’s consumer price index (CPI) rose by 0.4% in February compared to January, slightly more than the 0.3% initially estimated and which was expected by analysts at FactSet analysts.On a year-on-year basis, Spain’s CPI in February, according to the final reading, was 2.8% (3.4% in January), with food rising to 5.3%, which was in…

iberdrolacocheelectrico

Spanish economy 15th March 2024

Iberdrola, with over 550 charging points for electric buses with power ratings between 100 and 360 kW, looks to expand network

The Spanish electricity company has announced that it is contributing to the daily recharging of more than 550 electric buses and expects to continue helping to decarbonise more vehicles in the coming months, according to the Bolsamania.com portal. The commitment is part of the company’s Sustainable Mobility Plan and pursues its goal of achieving more sustainable cities, free of carbon emissions thanks to the supply of energy with guaranteed 100%…

ohla torre espacio

World economy 15th March 2024

OHLA wins contract worth over €50 million for water treatment plant in Panama

Link Securities| Spanish construction company OHLA (OHLA) announced on Wednesday that it has won a new contract in Panama that includes the design and construction for the expansion of a water treatment plant in Mendoza, west of Panama City, in the district of La Chorrera for more than €50 million. The existing plant, with a treatment capacity of 160,000 m3/day, will be joined by a new plant with a purification…

bank of japan

World economy 14th March 2024

BoJ turning to a swifter exit, pushed by further delays in Fed cuts

Alicia García Herrero (Natixis)| The Bank of Japan (BoJ) has been in the limelight since major central banks in the world, as specially in Fed, started hiking rates. For months, as Japan began to see a rapid increase in inflation, financial markets started to put depreciating pressure on the Yen and upward pressure on the yield of Japanese Government Bonds (JGBs), capped by the Yield Curve Control (YCC) introduced by…

PereAragones Sanchez

In Spain 14th March 2024

Sánchez renounces 2024 budget after early elections called in Catalonia, which will hold elections on 12 May… because it cannot approve its budget

The weakness of the Catalan government, with ERC in a minority, has led to a new early election in the autonomous community, set yesterday for May 12 by the president of the Generalitat, Pere Aragonès, after the Parliament rejected the draft budget of the Generalitat for 2024. The new date with the polls will be marked by the aftermath of the procés, as Junts will try to ensure that its…

Ferrovial

Spanish economy 14th March 2024

Ferrovial agrees to acquire 24% of IRB Infrastructure Trust Mumbai for €740 million

Ferrovial, through its toll road subsidiary Cintra, has agreed to acquire a 24% stake in IRB Infrastructure Trust, an investment vehicle that holds a portfolio of 12 toll road concessions in India with a committed pipeline of three additional concessions, for a total investment of €740 million (considering an exchange rate of 89.0 EUR/INR). Ferrovial is acquiring this stake from affiliates of GIC, which currently own a 49% stake of…

ROVI MODERNA

Spanish economy 14th March 2024

Laboratorios Rovi, Insud Pharma and Ministry of Science form partnership to research advanced therapies

Link Securities| In a Significant Event sent to the National Securities Market Commission (CNMV) by the company, the pharmaceutical company Laboratorios Rovi (ROVI) announced that it has reached an agreement with Insud Pharma and Innvierte Economía Sostenible, dependent on the Ministry of Science, for the constitution of a commercial company with public-private capital dedicated to the research and development of advanced therapies. The agreement, which was approved on Tuesday by…

Arcelor Mittal

European economy 13th March 2024

ArcelorMittal reaches agreement to buy Apollo’s stake in Vallourec for €955 million; synergies expected

Morgan Stanley| Arcelor Mittal (MTS) has reached an agreement to purchase Apollo’s stake in Vallourec (French steel tube manufacturer), equivalent to 65.2 million shares (28.4%) for a total of €955 million. The acquisition is expected to be completed in 2H24, once all regulatory approvals are in place. Alain Gabriel acknowledges that the purchase has been concluded at a reasonable valuation, but expects more clarity on the extent of synergies and/or…