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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.
Alemania PIB

European economy 9th January 2024

German industrial production falls for sixth consecutive month

Bankinter: Industrial Production in November was worse than expected: -4.8% year-on-year versus -4.0% expected and -3.4% previously (revised from -3.5%). In monthly data: -0.7% month-on-month against +0.3% expected and -0.3% previously (revised from -0.4%). Bankinter assessment: Weak data. This is the sixth consecutive decline of the indicator in annual rate and reflects that the weakness of the manufacturing sector is still present. The slowdown in demand in a context of…

No Picture

Relevant News Item 9th January 2024

Gotham City Research accuses Grifols of hiding Ebitda of over 10x behind artificial 6x figure

Gotham City Research, the investment fund that denounced the Gowex fraud and caused the company’s stock market collapse, has issued a negative report on Grifols on Tuesday. It considers that the Spanish pharmaceutical company has manipulated its accounts “to artificially reduce its leverage”. As a result, it considers that “the shares are not investable” because “they are probably worth zero”. Gotham accuses Grifols of having manipulated debt and Ebitda to…

ERTES extension

In Spain 9th January 2024

Labour ministry threatens employers with rise in minimum wage: “If they do not agree to a 4% rise, we will negotiate a higher one with the unions”

The meeting to agree on the increase in the Minimum Wage (SMI) ended yesterday after barely an hour and a half of meeting between the Government and the social partners without any progress and with a climate clouded by previous threats to employers by the Secretary of State for Labour and Social Economy, Joaquín Pérez Rey. “If we do not reach an agreement around the figure of 4%, if the…

Consejo europeo

European politics 8th January 2024

Charles Michel’s candidacy as MEP could leave acting presidency of the European Council in Hungary’s hands

Banca March : Charles Michael, the current President of the Council, is standing as a candidate in the European Parliament elections in June. If elected, he would have to resign before being sworn in as an MEP on 16 July, bringing his term of office to an end more than four months early. If no replacement were to be found, the Hungarian prime minister would be able to act as…

nasdaq pantallas

Relevant News Item 8th January 2024

Ferrovial expected to be listed on Nasdaq in first quarter of this year, joining the Russell Indexes

Bankinter| Ferrovial has notified the SEC, the US stock exchange regulator, of its intention to list on the Nasdaq. The aim is to ring the bell before the end of the first quarter of this year. The choice of Nasdaq over NYSE is due to several reasons: lower cost, electronic trading and greater dynamism. Analysis team’s opinion: Ferrovial had already announced its intention to list in the US. In fact,…

atlanta toll road

In the World 8th January 2024

Acciona, ACS and Meridiam in consortium competing with Ferrovial and Macquarie for €2-billion SR-400 Express Lanes project in Atlanta

Link Securities| Acciona and ACS, on the one hand, and Ferrovial, on the other, are part of the two consortia that have entered the final phase to design, build, finance, operate and maintain one of the largest toll road projects underway in the US, the SR-400 Express Lanes in Atlanta, Georgia. The value of the project, implemented through a managed lanes model (dynamic tolls), is estimated at approximately €2 billion….

sanchez elections

In Spain 8th January 2024

The legislature, a toothache for the PSOE

Fernando González Urbaneja | The legislature will be like a toothache for the Socialist Party, and the first tests of this will become apparent this week with the validation of the first decree-laws approved by the government, which require majority approval. Two of its allies, Podemos and Junts, have set preconditions for their approval, which is necessary for the government’s first decisions to come into force. Sánchez’s resistance manual, which…

Amazon2 1

In the World 7th January 2024

Temu and Shein pose real threat to Amazon for market share amid new regulatory challenges

Bankinter | New competitors such as Temu and Shein are gaining ground in markets adjacent to Amazon. Temu already accounts for almost 17% of the discount retail market, while Shein’s revenues have already reached $23bn, surpassing companies such as H&M. They also pose new regulatory challenges, amid antitrust lawsuits against Amazon. Despite increased competition, Amazon’s resilience is reflected in the continued growth of its Prime user base, which has reached…

Sacyr2

Spanish economy 7th January 2024

DWS Investment (Deutsche Bank) raises 3.3% of Sacyr’s share capital

CdM| DWS Investment, Deutsche Bank’s fund manager, has raised a 3.26% stake in the capital of Sacyr, thus becoming one of the significant shareholders of the construction and concessions company. According to the National Securities Market Commission (CNMV) records, and as reported by Europa Press, the German fund manager’s operation translates into 22.3 million shares, valued at current market prices of €71.5 million.

Airbus 320

European economy 7th January 2024

Airbus offers between €1.5 and €1.8 billion for Atos Big Data and security business

Link Securities | French IT company Atos has released a statement explaining that European aeronautics giant Airbus (AIR) has offered between €1.5 billion and €1.8 billion for its Big Data and Security business. The acquisition of BDS could significantly accelerate AIR’s digital transformation and enhance the company’s defence and security portfolio with strong capabilities in cyber, advanced computing and artificial intelligence, AIR said. Discussions continue on the price to be…