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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.
Small & Midcaps investment options

In Spain 6th September 2023

Foreign investment in Spain exceeds €34,178 million in 2022, second highest figure on record

Spain has consolidated its attractiveness as a destination for foreign investment thanks to its growing participation in international business. According to data from the Foreign Investment Register DataInvex of the Secretary of State for Trade, the USA is the leading investor in Spain, with 27.7% of the total, equivalent to a gross investment of 9,453 million euros. It is followed by the United Kingdom with an investment of €6,097 million…

EEUU manufacturas

In the World 5th September 2023

US labour market supports pause in rate hike

Banca March : Last week closed with US employment data in line with a rate halt by the Fed as the easing of the labour market is one of the key elements on the road to inflationary control. In this respect, although job creation was above consensus forecasts, the downward revision of last month’s figures and the lowest job creation in recent months show signs of moderation in a still…

EuroStoxx50

European economy 5th September 2023

Acciona Energia and Telefonica Deutschland to exit Stoxx 600, Hochtief and others join

Link Securities| The index manager, Stoxx 600, has communicated a list of the five companies that will leave the pan-European index and the five that will take their place, according to Expansión newspaper on Monday. Among the first is Acciona Energy (ANE). The renewable energy company will be excluded from the Stoxx 600 from 18 September, which will cause a withdrawal of positions by the many funds that replicate the…

Puigdemont

In Spain 5th September 2023

Unusual: Vice-President Yolanda Díaz travels to Brussels and negotiates with fugitive Puigdemont while Sánchez considers his investiture a done deal

“The meeting – lasting almost three hours – between Yolanda Díaz, vice-president of the government and leader of Sumar, and the fugitive Carles Puigdemont in Brussels is one of the most serious political events of recent years in Spain. The acting vice-president discredits the state by representing the state itself, and places herself in a position that would be unsustainable if Spain were not in a situation of exceptionality and…

CELSA

Spanish economy 5th September 2023

Deutsche Bank and funds take the reins of Celsa, the Catalan steelmaker, and secure activity

Creditor funds can now take control of Celsa. The ruling issued on Monday by Barcelona Commercial Court No. 2 puts an end to the dispute between the Rubiralta family, the founders and until now owners of the steelmaker, and the corporations holding 90% of its bulky debt. The magistrate has endorsed the plans of the syndicate of creditors, who will capitalise €1,352 million of convertible debt and part of the…

caixabank sunset

In Spain 5th September 2023

CaixaBank and Bankinter now offer returns on deposits

Alphavalue | Large entities such as CaixaBank and Bankinter have begun to offer returns on deposits on a personalised basis and for customers with strong ties and balances of more than €50,000, as reported by the newspaper Expansión. Santander does the same, through Openbank. Until now, only a few small banks (and mostly internet-based) offered something for deposits.

Almirall edificio id

In Spain 4th September 2023

Almirall acquires rights to distribute Alzheimer’s treatment in Spain for an initial €45 million

Bankinter| Laboratorios Almirall (ALM) has acquired the rights to distribute a product to treat Alzheimer’s disease in Spain. The agreement gives Almirall exclusive rights to a transdermal patch containing Rivastigmine to treat Alzheimer’s disease. The transaction has been closed for an upfront payment of €45 million and provides for additional potential compliance payments of up to €15 million. Assessment: Positive news, the company has been looking for acquisitions to strengthen…

unemployment spain

Spanish economy 4th September 2023

Over 300,000 workers exit Social Security system on August 31

Bankinter : The number of unemployed increased in August by +24,826 persons (after -10,968 in July). It stands at 2.7M persons (-0.9% m/m and -7.6% YoY). The seasonally-adjusted number of registered registered persons increases to 20.7M (+0.1% m/m and +2.8% year-on-year). Ministry of Labour and Social Economy and Ministry of Social Inclusion and Migration. For the trade union USO, the figures are not good, because “On 31 August, more than…

Alemania industria

European economy 4th September 2023

With orders at record lows, Eurozone manufacturing rises 0.8 points to 43.5 in August

Singular Bank: In August, the final reading of the IHS Markit manufacturing PMI index for the Eurozone advanced 0.8 points from the previous month to 43.5 points (vs. 42.7 points in July), slightly below the preliminary estimate of 43.7 points, remaining in contractionary territory since August 2022 (below 50 points). A performance weighed down by the fall in new factory orders at their fastest pace since the beginning of the…

Telefonica stand

Spanish economy 4th September 2023

Telefónica installs first commercial 5G node in 26 GHz band in Valencia

Link | The company has installed the first 5G node in the 26 gigahertz (GHz) band, the third portion of spectrum that has been reserved in Spain and Europe for the new technology, Expansión newspaper reports today. The node, located in Valencia, is an important milestone, as it is the first commercial node of the technology to be installed.