Top Stories

Articles by The Corner

About the Author

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.
unemployment spain

Spanish economy 8th March 2023

Government admits 443,078 unemployed were counted as “fixed discontinuous employees” at end of 2022

In Spain there are 443,078 inactive workers with permanent discontinuous contracts who are looking for work but are not counted as unemployed. And 61% of them were collecting unemployment benefit at the end of 2022. Fedea -Fundación de Estudios de Economía Aplicada- claims that “effective unemployment” increased by 315,000 people at the end of 2022, compared to the fall of 34,000 as reported by the Ministerio de Trabajo (Department for…

nadia calviño.jpg e1531260032324

Spanish economy 8th March 2023

Government brings forward European standard by two years: Ibex boards to have 40% women by July 2024

The Government took up the gauntlet thrown down by the European Commission and yesterday approved the parity law, which will require the presence of at least 40% of women in the decision-making bodies of large Spanish companies as of 1 July 2024. The law, promoted on the eve of International Women’s Day, extends to government and electoral lists with the aim of achieving gender diversity in Congress, the Senate, regional…

EMPL 1600

Relevant News Item 7th March 2023

EU plans for joint natural gas purchases could start next month

Santander Corporate & Investment | According to Bloomberg, European Commission Vice-president Maroš Šefčovič expects EU plans for joint natural gas purchases to take their first step next month. The commissioner cites initial estimates of a demand of 24 billion m3 over the next three years. Once the tender is launched in April, the EU expects the first contracts with suppliers in regions such as the US, the Middle East and…

Bonds and pricing

World economy 7th March 2023

Fixed income outlook: harnessing a higher for longer conviction

By Franck Dixmier, Global CIO Fixed Income, AllianzGI | A shifting outlook for inflation, interest rates and economic growth is creating a complex market environment. But we think investors may now be starting to come around to our belief that interest rates are likely to have to stay higher for longer to tame sticky inflation. With the prospect of further near-term market instability, investors may want to consider remaining flexible…

Spain ratings

Spanish economy, Spanish Politics 7th March 2023

10 of the 17 autonomous communities to recover pre-covid GDP this year

According to Funcas, the Foundation of the former Savings Banks, all the Spanish autonomous communities will slow down in 2023 as a result of the impact of inflation on household purchasing power, in a context of global uncertainty and rising interest rates. Despite this, and after the strong recovery in 2022, this year five regions will already recover the GDP level they had before the pandemic: Andalusia, Valencia, Madrid, the…

Repsol

Spanish economy 7th March 2023

Repsol to buy back €900 million of its own shares

According to a note sent yesterday by Repsol to the Spanish Securities and Exchange Commission (Comisión Nacional del Mercado de Valores, or CNMV), the maximum number of shares to be acquired under the buyback programme will amount to 35,000,000, representing approximately 2.64% of Repsol’s current share capital. The maximum net investment under the programme amounts to €909,755,000, the oil company said. Repsol has explained that the acquisition of the shares…

employed spain

Spanish economy, Spanish Politics 6th March 2023

55% of all employment created during Sánchez’s government is in public sector

Although the unemployment rate is still above 12%, the number of workers has once again surpassed the 20 million mark, with temporary employment at an all-time low following the labour reform. But there is a catch to this balance sheet: 55% of the net increase in employment during the legislature corresponds to public sector jobs, which are also confirmed as the most precarious. As the newspaper El Economista explains, according…

Alemania IPC

European economy, In Europe 5th March 2023

German inflation exceeds expectations in February at 8.7%

BancaMarch : German inflation beat expectations in February. The preliminary index showed that consumer price growth came in at +8.7% year-on-year, two tenths above expectations and confirmed that the moderation of inflation has slowed in February. A figure that continues to put pressure on the ECB to continue raising official interest rates.

bce sede nueva

European economy, Markets 5th March 2023

Latest ECB Minutes show significant support for +50 b.p. hike to 2.5% (deposit rate)

Yields 4: European markets open higher (Eurostoxx futures +0.5%, S&P futures -0.1%) after a session of less to more on Wall Street, and on a day in which the most relevant will be the ISM services report in the US, which could fall in February (54.5e and 55.2 previously), and where the main focus will be on its price component, with upside risk after the strong rebound seen in the…

inflacion general

European economy 4th March 2023

Eurozone inflation falls to 8.5% in February but underlying hits record high of 5.6%

CoM | Eurozone annual inflation falls to 8.5% in February 2023, down from 8.6% in January, according to a preliminary estimate by Eurostat, the statistical office of the European Union. However, core inflation did not find a ceiling and rose again for another month, reaching a record high of 5.6%. With regard to the main components of inflation in the euro zone, food, alcohol and tobacco recorded the highest annual…