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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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In the World, Uncategorised 23rd February 2026

Trump announces global tariff of 15%, to take effect almost immediately,’ EU demands he abide by trade terms signed in 2025

Link Securities | US President Donald Trump announced on Friday the signing of an executive order that would impose a 10% global tariff on all countries under Section 122 of the Trade Act of 1974. The next day, he changed his mind and said he would raise it to 15%. The decision came after it was revealed that the Supreme Court had ruled that his use of the International Emergency…

Minsaitbyindra

Companies 23rd February 2026

Indra negotiating sale of strategic consulting subsidiary to Waterland fund to finance growth in Defence

Norbolsa | The company is negotiating the sale of Minsait Business Consulting, its strategic and technology consulting subsidiary, to Waterland Private Equity, a venture capital firm based in the Netherlands. With this type of divestment, it seeks to finance its growth plans in Defence. This is the second transaction of this type by Indra, which at the end of 2025 sold its Business Process Outsourcing (BPO) business to the Basque…

bancos españoles nuevo

Companies, Ibex 23rd February 2026

Spanish banks: return on equity (RoTE) equal to or greater than 20% for most from 2027 onwards

Deutsche Bank | Spanish banks continued to demonstrate stronger-than-expected net interest margin resilience in 2025, navigating a challenging rate environment thanks to proactive liquidity management and a faster-than-expected recovery in loan growth. This strong performance, coupled with solid diversification of fee income and continued cost control, positions the sector for sustained profitability. We expect net interest margin to resume an upward trend in 2026, supported by broadly stable net interest…

Mortgage law Spain

In Spain 23rd February 2026

Catalan Generalitat proposes CPI that includes housing with 34% weighting, but this would reveal sharp loss in purchasing power

Neither the data from the INE (Spain’s National Statistics Institute) nor European statistical services capture the true scale of one of the expenses that suffocates citizens most: housing. The CPI only accounts for rental prices, and with a minimal weighting of just 5%—whereas in the U.S., for example, it represents 40% of the index. Consequently, the Catalan Generalitat has developed a proposal for a new indicator—reported today by the newspaper…

Talgo new

Companies 20th February 2026

Talgo negotiates financial terms for delivery and maintenance of 20 new high-speed trains for Saudi Arabia with Alstom

Link Securities | The train manufacturer, owned by SEPI and the Basque Government, must agree on the financial terms for delivery and maintenance with French powerhouse Alstom, after Saudi Arabia Railways exercised its option on 20 new trains identical to the original 2012 order, valued at €1.332 billion, which are an adaptation of the 112 series (Pato) that Talgo manufactured for Renfe with Bombardier technology, in the new AVE trains…

CIE Automotive renove

Companies 20th February 2026

EIB to provide consulting services to CIE Automotive to promote climate action and sustainability in corporate sector

Alphavalue | The company received advice from the European Investment Bank (EIB) to strengthen its decarbonisation plan, with the aim of achieving climate neutrality by 2050. According to a statement from the EIB, the European Union’s financial arm will provide consulting services to the company under the IEB Advisory, a support programme funded by the InvestEU Advisory Hub to promote climate action and sustainability in the corporate sector. CIE Automotive…

Acciona Energía nueva

Companies 20th February 2026

Acciona Energía and Solaria among companies most affected by Meloni’s plan to lower electricity prices

Bankinter | Giorgia Meloni is considering a plan to lower electricity prices that could have a negative impact on the sector. The plan being considered by Italian Prime Minister Giorgia Meloni consists of intervening in the functioning of the electricity market to eliminate the impact of CO2 costs from bills. The marginal cost of generation from a combined cycle gas plant is what sets the price of electricity on many…

aena barajas3CM

In Spain 20th February 2026

Spain receives 6.7 million international passengers in January, representing annual growth of 5.2%

Alphavalue / Divacons | Spain received a total of 6.7 million international passengers in January, representing an annual growth of 5.2%, according to data from Turespaña. The report highlights that 54.5% of travellers opted for low-cost airlines, an increase of 3.8%, while the remaining 45.5% used traditional airlines, a segment that recorded a higher increase of 6.9%. The European market accounted for the majority of arrivals, while Asia (up 20%)…

inditex zara interior

Companies 20th February 2026

Inditex to pay €1,500 bonus to nearly 30,000 store employees in Spain

Link Securities | Inditex (ITX) has renewed the extraordinary incentive for its store employees in Spain and will pay a bonus of €1,500 to nearly 30,000 workers in their February payroll, according to Expansión newspaper. This payment is linked to the commercial performance targets of each store. In ITX’s 2025 financial year, which ended on 31 January, more than 99% of the group’s stores in Spain achieved an incentive equal…

ferrovial autopista407

Companies, Relevant News Item 20th February 2026

Highway 407-ETR, 48% owned by Ferrovial, posts €502 million profit, up 17%

Link Securities | The 407-ETR motorway (Canada), one of the world’s largest concession assets and 48% owned by Ferrovial (FER), posted a profit of CA$810 million (around €502 million), representing year-on-year growth of 17%, according to Expansión. The increase in profit is mainly due to a 5.7% rise in traffic, which is now 3.5% higher than pre-pandemic levels, with revenue per trip up 7% due to higher tolls.