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.
Judges

Amnesty in Spain Declared Constitutional, now only Awaiting European Court of Justice

“We don’t have the last word because we are right. We are right because we have the last word,” a U.S. Supreme Court justice ironically explained. With that same implicit reasoning, six judges of the Spanish Constitutional Court (TC), directly appointed by the government, have declared—against the staunch opposition of the four magistrates appointed by the opposition—that the amnesty negotiated by Pedro Sánchez with the “procés” fugitives from Catalonia to…


ACS

ACS to build and supervise €4.3 billion One Beverly Hills luxury real estate project in Los Angeles

Link Securities | The Spanish construction company, through its subsidiary Turner, will be responsible for building and supervising the One Beverly Hills real estate project, covering seven hectares in the heart of luxury in Los Angeles County (California, USA), the Expansión portal reported yesterday. Turner is listed as the main contractor for the first phase of a project that began last year and is scheduled for completion in 2027. Designed…


fed powell nov 2023

Powell affirms Fed committed to keeping inflation under control and will remain on hold

Link Securities | In his speech before the House Financial Services Committee (the lower house of the US Congress), Federal Reserve (Fed) Chair Jerome Powell affirmed the central bank’s commitment to keeping inflation under control, stating that he expects monetary authorities to remain on hold until they have a better understanding of the impact that tariffs will have on prices. Powell described economic growth as solid and the labour market…


ROVI MODERNA

Laboratorios Rovi: FDA approves Moderna vaccine for RSV in adults aged 18 to 59

Renta 4 | The FDA has given the green light to expand the use of Moderna’s vaccine for the treatment of RSV, the virus that causes bronchiolitis, in adults aged 18 to 59. This vaccine has already been approved by both the EMA and the FDA for use in adults over 60, as well as in the United Kingdom, Australia and Taiwan. Given Rovi’s agreement with the US pharmaceutical company,…


OTAN

NATO Summit: Sánchez Signs One Thing, Says Another, and Drives Everyone Crazy

The allies have finally had the pleasure of getting to know Pedro Sánchez Pérez Castejón, the new world leader of anti-Trumpism. A man capable of signing one thing, saying another, and ending up doing a third… Always, of course, what he believes suits him best. And all of this, according to him, without lying. They’re just “changes of opinion.” So, before arriving at the Hague summit, Sánchez boasted of having…


energia mercados

Spain’s trade deficit falls by 16.6% year-on-year in April thanks to decline in energy deficit

Link Securities | Spain’s trade deficit fell by 16.6% year-on-year in April to €3.8824 billion, driven by the decline in the energy deficit, according to figures published yesterday by the Ministry of Economy, Trade and Business. Spanish exports in April reached €32.51 billion, the second highest figure for the month of April. This represents a 2.2% year-on-year growth in exports in April, after adjusting for the calendar effect (which was…


Property auction

Number of mortgages taken out on homes rises to 39,176 in April, year-on-year increase of 14.4%

Link Securities | The National Statistics Institute (INE) reported on Friday that the number of mortgages taken out on homes rose to 39,176 in April, representing a 14.4% increase year-on-year. The average amount of these transactions was €155,883, an increase of 12.4%. For mortgages taken out on residential properties, the average interest rate in April was 2.98% and the average term was 25 years. 32.9% of mortgages on residential properties…


eeuu calle taxisCM

US preliminary composite PMI remains in expansion territory and above estimates at 52.2 points

Singular Bank | According to the preliminary reading for June, the US manufacturing PMI remained stable at 52.0 points, above analysts’ consensus estimates (51.1 points). In contrast, the services sector PMI declined slightly to 53.1 points (against 53.7 points in May). Despite this, the result was better than the consensus of analysts (52.9 points). Given this development, the US composite PMI fell slightly to 52.8 points (against 53.0 points in…


Sanchez

“Sánchez has 380 advisors, including screenwriters for films and series, and set design specialists…”

Yesterday, 40 former senior PSOE officials—including ex-ministers and former regional presidents—sent a letter demanding Pedro Sánchez’s resignation, citing the “democratic regression” Spain is experiencing. Beyond the corruption cases surrounding the Prime Minister and the PSOE, these long-serving socialists are extremely concerned about Spain’s trajectory. They demand a party regeneration that requires Sánchez’s departure, arguing he is a hostage to an incredible policy of pacts that conditions government action, and to…


bbvasabadell

Government Blocks BBVA-Sabadell Merger for Three Years and Prohibits Operation-Related Layoffs

The Council of Ministers has made the operation contingent on BBVA maintaining Sabadell as an independent entity for three years, extendable by two, which effectively prevents the merger BBVA sought. The group chaired by Carlos Torres will be able to change Sabadell’s board of directors, but cannot implement joint staff adjustments or branch network changes associated with the operation. Each entity will have to preserve its legal personality, separate assets,…