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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.
Madrid Stock Exchange revision

In Spain 21st December 2023

Spanish listed companies pay dividends worth €27,443 million in 2023, up 18.8%

The Spanish stock market has risen by more than 20% since last January. And as of November, companies listed on the Madrid Stock Exchange had distributed dividends worth €27,443 million, an amount that represents an increase of 18.8% compared to 2022. If the amortisation of treasury stock is added to the payment in cash or shares, the remuneration exceeds €40 billion. Thanks to these figures, the Spanish stock exchange has…

Talgo

In Europe 21st December 2023

Talgo among candidates to participate in Germany’s largest-ever train order

Link Securities | The German government, through Deutsche Bahn (DB), has launched the largest train order in its history, with the aim of improving service quality, according to Expansión newspaper. Thus, it wants to sign a contract programme for up to 95 units of ICE high-speed trains, with a first order of 33 trains to be put into operation in 2030. In terms of volume, it is an investment budget…

eurozona mapa billete 1

European economy 20th December 2023

Eurozone inflation falls to 2.4% in November, lowest since July 2021

CdM| Eurozone inflation continues to moderate and stood at 2.4% in November, down from 2.9% in October, its lowest level since July 2021, according to final data released by Eurostat, the European Union (EU) statistics office. In this way, the evolution of prices in the euro area is gradually approaching the 2% target set by the European Central Bank (ECB), although the president of the body, Christine Lagarde, has warned…

Christian Lindnerok

In Europe 20th December 2023

France and Germany announce agreement on reform of EU fiscal rules

“This evening we have 100% agreement with Christian Lindner on the new rules of the Stability and Growth Pact: excellent news for Europe, which will ensure sound public finances and investment in the future. Ecofin, tomorrow!” With this message, the French Finance Minister, Bruno Le Maire, announced his agreement with his German counterpart, Christian Lindner, on the reform of the European Union’s fiscal rules on Tuesday evening (after 10 p.m.),…

Telefónica

In Spain 20th December 2023

Government orders Sepi to buy 10% of Telefónica to become main shareholder

The State Industrial Ownership Corporation (Sepi), the public body controlled by the Government through the Ministry of Finance, will take up to 10% of the capital of Telefónica (TEF), which will make it the largest shareholder of the telecommunications operator, ahead of Caixa, BBVA and Saudi Arabia’s STC. The Sepi informed the CNMV on Tuesday in a note in which it stated that “the Council of Ministers in its meeting…

ACS novisimo

Spanish economy 20th December 2023

ACS formally begins process of selling services subsidiary Clece, valued at up to €700 M

Link Securities| ACS (ACS) has formally started the sale process of its services subsidiary Clece. The banks that the group has hired to lead the divestment, Bank of America (BofA) and Société Générale, distributed the sale booklet (infomemo) among potential buyers last week, according to market sources and as reported by the digital newspaper elEconomista.es. Among the recipients are both funds and industrial groups specialising in service activities. The transaction…

USsteel Nipponsteel

World economy 19th December 2023

Nippon Steel set to become world’s second-largest producer after acquisition of US Steel for $14.1bn

Bankinter | Nippon Steel agrees to buy US Steel for $14.1bn ($55/share). The deal contemplates a cash payment of $14.1bn ($55/share), a 40% premium to US Steel’s closing price last Friday and 142% over August this year, when Cleveland Cliff announced a first offer (at $35/share). The valuation including debt amounts to $14.9 billion. The combined company will be the world’s second largest producer with 88M tn (66MTn NSC and…

scottish 777x400 1

In Europe 19th December 2023

Iberdrola, through ScottishPower, awards first contracts for £1.8 billion high-capacity undersea cable project

Alphavalue/DIVACONS| The Spanish utility, through its UK distribution subsidiary ScottishPower Energy Networks, has awarded the first contracts worth £1.8 billion for its high-capacity submarine cable project linking England and Scotland. This project, called Eastern Green Link 1 (EGL1) and built by a consortium formed by ScottishPower Energy Networks and National Grid Electricity Transmission, will consist of a kind of major electricity highway that will connect one of the most important…

spain poverty oxfam

In Spain 19th December 2023

Spain scores worst on child poverty in the European Union

Some of the world’s richest countries experienced sharp increases in child poverty between 2014 and 2021, according to data published by UNICEF’s research office Innocenti. Spain’s rate remains stable, but stands at 28%, which leaves our country in 36th place out of 39 (only above the United Kingdom, Turkey and Colombia) in the overall league table of high-income countries – European Union (EU) and Organisation for Economic Co-operation and Development…