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.
cajero bitcoin detail

Spain Is The Fifth Country In The World In Cryptocurrency ATMs

On 7 September, El Salvador became the first country in the world to adopt Bitcoin as legal tender, which means that companies and businesses in the country are obliged to accept it as a form of payment in day-to-day transactions. However, in this country there are only four Bitcoin and other cryptocurrency ATMs (machines where users can buy or sell cryptocurrencies). The US is the country with the most cryptocurrency…


labour market

US | The Labor Market Is Set To Fully Recover, But It Will Take Some Time

BBVA Research | The labor market hit the brakes in August, probably driven by both demand and supply factors as a consumption demand slowdown along with increasing health concerns, both associated with the Delta variant, impacted the labor market. Job creation was a major disappointment in August. There is still a way to go to fully recover and the road will likely remain bumpy in the short-term as the Delta…


bank spain

Thirteen Banks Lost Money In Spain In The First Half Of The Year, Two Less Than A Year Earlier

A total of 13 banks operating in Spain posted net losses in the first half of 2021. This is compared to 15 entities that recorded ‘red numbers’ in the same period of the previous year, according to the financial statements of banks published on Friday by the Bank of Spain. In the first half of the year, ten banks associated with the Spanish Banking Association (AEB), one of the Spanish…


autonomous regions

Spanish Regions Ahead Of Central Government In ESG-Linked Bonds Funding

Last week the Spanish Treasury made its debut in green debt issuance. However, the autonomous communities are ahead of the pack. As told in an analyis of Scope Ratings, sovereign lending became the primary funding source for Spanish regions as the euro area debt crisis hampered access to capital markets. Madrid, the Basque Country and Andalusia have come to market this year, raising so far an aggregate 3.5 Bn euros in ESG-linked bond.


veolia suez

France Leads The Way In Public-Private Partnerships

Henry McCaw | In 2011, France dominated the European PPP market, accounting for 62% of the overall market value. According to the World Bank, this was reflected in the “wave of new ‘social infrastructure’ investments in health, education, defense, transport and urban planning sectors.” In the water sector, France is a global leader in private sector participation, with three French companies, Veolia, Suez and SAUR, dominating on the world stage. The French model of concession agreements in the water sector has increasingly been adopted in developing countries.


ECB's president Christine Lagarde

ECB ‘recalibrates’ PEPP for Q4 – December is now key for APP and TLTROs

Annalisa Piazza (MFS) | ECB “recalibrates policy”: Nothing else has changed. Indeed, the rest of the policy announcement was a carbon copy of what we heard back in July. Forward guidance on both rates and QE was confirmed, along with the re-investment programmes. The slower pace of PEPP had been widely flagged by ECB officials over the past few weeks so the announcement was hardly a surprise. That said, the…


The UK's deregulation from the EU will take Boris Johnson initially longer to sell

Social Care Tax Rise Is Austerity By Another Name

The Conversation | Boris Johnson has unveiled an additional 1.25% levy on national insurance paid by wage earners and employers, which will raise £14 billion a year to help pay for the NHS and reforms to social care. Coming on the back of rises to income tax and corporation tax that were announced in the budget in March, it is the latest example of the government using tax rises rather than austerity to rein in public finances that have been hit by the cost of the pandemic. We asked Alex de Ruyter, a Professor of Economics at Birmingham City University, to explain how it would affect different parts of society.


wholeshale electricity market

The Spanish Electricity Sector Reform Will Force Large Utilities To Auction Part Of Their Energy Out Of The Pool

The price of electricity in Spain once again break through the historical maximum yesterday and exceedeed 150 euros for the first time in history. In order to cushion the impact of these soaring prices on electricity bills, the government is preparing a shock plan whose main measure will force the major electricity companies (Iberdrola, Endesa, Naturgy and EDP) to auction energy among retailers and industrial companies.


BonosVerdes 3

Spain Joins The Club Of Sovereign Green Bond Issuers

Fernando Rodríguez | The Spanish government has issued its first green bond for 5 billion euros, as part of a sustainable financing programme which the latest Treasury’s estimates amounted to 20 billion euros. The funds will be used to finance projects which promote the ecological transition. They are aimed at mitigating and adapting to climate change, the sustainable use and protection of water and sea resources, the transition to a…