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.
utilities

Utilities Propose Measures To Reach An Agreement Before The Royal Decree On Gas Is Ratified

Banco Sabadell | The Ministry of Transition has begun the round of negotiations with the electricity companies (last week it was the turn of Endesa, Acciona and EDP and today it will be the turn of Naturgy and Iberdrola). The idea is to try to reach an agreement before next Thursday, which is when the gas Royal Decree will be ratified. Among the sector’s proposals, Iberdrola proposes supplying nuclear production at a closed long-term price to small consumers with less than 10 kW of power under the regulated tariff. A bilateral contract, in line with what France does, where the price would cover its fixed and variable costs and possible life extensions (c. 60 euros/MWh). This proposal eliminates the risk for power plants and would leave hydro and renewables free to market. The risk is that there would be a migration from the free to the regulated domestic segment (now 38%).


barricas

The Spanish Wine Sector, A Symbol Of Tradition And A World Benchmark

Sergio Díaz (CaixaBank Research) | The wine sector plays a fundamental role in our country, not only in economic terms, due to its contribution to activity, employment and exports, but also because of the wide extension of its cultivation and its territorial roots, which makes it a driving force for environmental conservation and rural development. Spain is the world’s second largest exporter of wine by volume and the third largest by value, although in recent years we have seen greater penetration in North America and Asia, markets that buy wine of higher value. After the COVID-19 crisis, wineries and cooperatives must face important medium-term challenges.


pensions bankrupcy

Corporate Insolvencies To Increase By 33% In 2022

Crédito y Caución expects global insolvencies to increase by 33% in 2022. According to the latest report released by the credit insurer, the still low level of corporate bankruptcies this year is due to the extension of fiscal measures in many countries and the continuation of moratoria on the application of bankruptcy legislation. Contrary to initial fears when the pandemic broke out, corporate insolvencies fell by 14% in 2020. France,…


spain poverty oxfam

Spaniards In Severe Poverty Rises From 4 Million To 6 Million

In Spain, four million people were living in severe poverty in 2018. Now there are more than six million. According to the Caritas and Foessa Foundation report, the impact of the pandemic is “devastating” and more than 11 million people now live in a situation of “social exclusion”. By contrast, the number of households without such problems, which totalled 49.3% in 2018, has declined to 41.2%. “There has been a…


pge2022 sanchez diaz

The Ministry of Inclusion Takes The Largest Share Of The General State Budget for 2022, With €33.3478 Bn

Last week, the Council of Ministers approved the General State Budget Bill 2022. Total Expenditure amounts to 458.97 billion euros (+0.6% YoY or +2.897 billion euros). Social Spending amounts to 248.391 billion euros (+3.6% YoY). For this reason, the Ministry of Inclusion, Social Security and Migration will receive the largest share of the budget for 2022, with €33.478 billion, taking into account that it includes the transfer of €18.396 billion…


spain red light

Spain: More Than 700,000 SMEs Have Liquidity Problems

Pavel Gómez del Castillo (Crédito y Caución) | Some 26% of Spanish small and medium-sized enterprises are experiencing liquidity problems. That is what emerges from the September barometer of the General Council of Associations of Administrative Managers of Spain. According to the study, 27% of SMEs admit they have clients in arrears, 13% are not paying their creditors and 10% have defaulted with their financial institutions.Barely 23% of SMEs have…


A renewed German embrace of realpolitik would allow the EU as a whole to tackle the big questions facing it clear-eyed

The EU After The German Elections: More Realpolitik?

European Views | The way the EU appears on the world stage, where it all too often seems weak, uncoordinated and overly moralising in its approach to world affairs. Germany’s long-time chancellor Merkel has played a key role in this. Throughout 16 years, Berlin has helped transform the EU into an ineffective paper tiger that styles itself as a superpower, yet that is frequently proving unable to deal effectively with hard geopolitical questions – from securing its borders to dealing with China. What is really needed is a new approach to EU foreign policy, especially at a time when German voters’ interest in foreign policy and EU affairs is at its lowest in years.


Facebook is working to consolidate the technology behind them

Facebook’s Scandals And Outage Test Users’ Frenemy Relationship

Elizabeth Stoycheff (The Conversation) | When Facebook was down for most of the day on Oct. 4, 2021, did you miss it, were you relieved or some of both? Social scientists have compiled an expansive body of research that shows how people have come to develop a love-hate relationship with the social media giant with nearly 3 billion users. Facebook’s stunning success has come at the expense of the privacy of its virtual friends. Its “we sell ads” business model may sound benign, but the platform collects more data and information about users than they may consciously know about themselves.


Spanish banks posted €12.779 Bn in 2Q21

Spanish Banks’ Yield In Q2’21 Led The Eurozone At 11.49% YoY, While Solvency Was At The Bottom With A CET1 Ratio Of 13.06%

The return on equity (RoE) of Spanish banks in the second quarter of 2021 was the highest in the euro area at 11.49% annualised, according to the ECB Thus, the profitability of Spanish banks was well above the average of 6.92% annualised for the aggregate of the 114 banks directly supervised by the central bank, of which eleven are Spanish institutions. At the opposite end of the spectrum to Spanish banks, Greek banks recorded an annualised RoE of -34.28%.


Innovation

Switzerland Tops The Global Innovation Index 2021

Switzerland, Sweden and the United States top the global innovation ranking, according to the latest edition of the Global Innovation Index study carried out by the World Intellectual Property Organization (WIPO), with the collaboration of academic institutions such as the INSEAD business school. Spain is in 30th place, at the bottom of the list of Western European countries. The leading Latin American country is Chile (53rd), followed by Mexico (55th),…