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.
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PNV refuses to support PP: either Sánchez or stalemate

The president of the Euzkadi Buru Batzar of the PNV, Andoni Ortuzar, telephoned the president of the Partido Popular on Monday night, who had tried to contact him earlier in the day. Ortuzar informed Núñez Feijóo of the PNV’s refusal to begin talks with a view to facilitating his investiture as President of the Spanish Government, a decision agreed at the meeting held by the EBB after the 23J elections….


caf cartel fachada

CAF signs contract to supply 81 zero emission buses in Germany and Denmark for €50M

Intermoney| CAF (CAF) informed the CNMV on Friday that it has signed agreements with the German city of Duisburg and the Danish city of Aarhus to supply a total of 81 Solaris zero emission buses over the coming months, with a combined volume of approximately €50 million. The city of Duisburg has chosen Solaris to supply 25 Urbino hydrogen buses, 11 of the 12-metre version and 14 18-metre articulated vehicles,…


BBVA Torres

BBVA to redeem a €1-billion CoCos issue early

CdM| The Spanish bank will redeem early an issue of preference shares convertible into ordinary shares for a total nominal amount of €1 billion, as reported Friday to the National Securities Market Commission (CNMV). In this way, the entity has informed of its “irrevocable decision” to proceed with the redemption on September 24, coinciding with the first review date. The redemption price for each preference share will be €202,937.50, equivalent…


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Microsoft, Apple, Nvidia, Amazon and Tesla to all see their Nasdaq weights reduced from Monday

Bankinter: The Nasdaq will start trading this Monday with the new adjustment of the weights of its components. The Nasdaq can perform a special rebalancing when the aggregate weighting of the stocks in its index with an individual weighting of more than 4.5% exceeds 48% of the index total. The rebalancing aims to reduce this weighting to a maximum of 40%. The final weightings have not yet been published, although…


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Feijóo defeats Sánchez, who resists but will not be able to govern without the fugitive Puigdemont

José Hervás (Capital Madrid)| Spain is entering a situation of political deadlock. The result of the elections, in which the PP was the winning party with 136 seats, does not make it easy for Feijóo to form a new Executive as he does not have the necessary 176 seats, together with the 33 seats of VOX, to obtain the necessary majority required for the presidency. A tug-of-war is foreseen between…


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Elections: No one wins, no one loses… what a mess!

Fernando Gonzalez Urbaneja | With half a dozen seats still to be counted, including those from abroad that will be counted on Friday, the outcome of the elections is still uncertain. The risk of a deadlock, i.e. that no one will be able to form a sufficient coalition to install a president, is a reasonable hypothesis. More than ever, it may be concluded that everyone has lost and no one…


People’s Bank of China

People’s Bank of China keeps lending rates unchanged

Link Securities | The People’s Bank of China (PBoC) announced early on Thursday morning that kept its lending rates unchanged after the central bank earlier in the week left its medium-term policy rate unchanged. The one-year prime lending rate (LPR), which is the medium-term lending facility used for corporate and household loans, remained unchanged at 3.55%; while the five-year rate, the benchmark for mortgages, was left unchanged at 4.2%, in…


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Mortgages taken out in Spain in May fall by 24% in May, and 20% for the year to date

Ibercaja | In May, in line with recent months, the number of mortgages on dwellings registered in the property registers fell by 33,398, 24.0% fewer in annual terms. In 2021 and 2022 (especially the first half of the year) there has been high growth in the mortgage market due to the existence of accelerating levers in this market: savings accumulated during the pandemic, change in consumer tastes (houses, flats with…


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Japan raises inflation forecast to 2.6% in 2023, up from previous 1.7%

BancaMarch: Japan’s government has raised its inflation forecast to 2.6% for 2023, well above the previous 1.7%. Considering that on Thursday of next week there is to be a meeting of the Central Bank of Japan, the market is closely watching the consequences that this announcement may have on the lax monetary policy that the Asian country has been defending. It should be recalled that, at the beginning of this…


España bancos

Average rate at which Spanish banks granted mortgage loans in June reached 4.045%, highest level since 2009

Alphavalue/DIVACONS| The annualised return on equity of Spanish banks rose to 11.15% compared with 9.86% in the previous quarter and 10.56% in the same quarter last year, according to supervisory statistics on credit institutions for the first quarter of this year published on Thursday by the Bank of Spain. On the other hand, the average rate at which Spanish banks granted mortgage loans in June reached 4.045%, which is its…