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.
960px Vista de Ceuta desde el mirador de Isabel II

Ceuta Police receive 200 crime reports a day, ten times more than before the assault

Overwhelming the border, on July 30 and 31, more than 80,000 people from Morocco entered Ceuta—a Spanish city of 83,000 inhabitants. Moroccan and Sub-Saharan nationals, adults and minors, men and women… In a display of helplessness that reflects the Government’s difficulties in enforcing respect for Spanish borders. And which, almost a month later, continues. Against all evidence, the Spanish Government has been determined ever since to highlight Morocco’s collaboration in…


Santander

Santander completes its share buyback program

Banco Santander has announced that it has completed its share buyback program after reaching the maximum scheduled investment of €5.03 billion. In total, the bank acquired 462,683,139 treasury shares, equivalent to approximately 3.08% of its share capital. The program, regularly reported to the market in accordance with European regulations, aimed to cancel the acquired shares and reduce the share capital, a measure authorized by the European Central Bank (ECB) on…


ferrovial

Ferrovial awarded a $9.2 billion, 42 km highway project in Tennessee

The Drive TN consortium, led by Ferrovial, has been awarded the development of the express lanes on the I-24 Southeast highway in the Nashville metropolitan area (Tennessee). The project involves a total investment of $9.2 billion (around €7.88 billion). The project will cover a 42-kilometer section in both directions of the I-24 highway, running from the I-40 in eastern Nashville to the I-840 near Murfreesboro, one of the region’s most…


Data Center

Brussels approves Spain’s proposal to bid for one of the European AI gigafactories

The European Commission has approved the creation of a joint venture between ACS, Telefónica, Banco Santander, and SEPI Digital to bid for one of the seven European artificial intelligence (AI) gigafactories that the EU Executive plans to build. The Spanish project, backed by Portugal, features a dual location split between Móra la Nova (Tarragona) and San Fernando de Henares (Madrid). At the end of July, the EU announced the launch…


Olli Rehn

Olli Rehn calls for the creation of a “safe and liquid” European asset to deepen and structure the bond market

Olli Rehn, Governor of the Bank of Finland, has advocated a fresh push to develop European “safe and liquid assets” to support the euro internationally and lower borrowing costs. In his lecture “Back to school: Passing Europe’s triple test” delivered during the OMFIF Nordic SSA forum on 19 August in Helsinki (Finland), Rehn stated that “Europe’s funding needs are large or even huge, and our capital markets should better match…


EEUU deficit fiscal

Tension in US debt: Treasury announces it will double bond buybacks and manages to lower long-term yields

The US Department of the Treasury announced yesterday that it will more than double the volume of its public debt buybacks, a move that triggered a sharp drop in bond yields at a time of high market tension. The 30-year yield, which was nearing 5.34%, fell to 5.20%. The 10-year bond yield also dropped by 10 basis points, from 4.75% to 4.65%, driven in large part by the closing of…


Deoleo

Coricelli raises bid for Deoleo to 500 million

Italian group Coricelli counterattacks and raises its offer for Deoleo to 500 million euros, outbidding Dcoop, which made a purchase proposal of 460 million . Deoleo, owner of brands such as Koipe and Carbonell, confirmed yesterday afternoon in a statement to the CNMV that both CVC and Alchemy are studying the sale of their stakes—50.9% and 40.3% respectively—though without yet mentioning potential buyers. According to the group, the funds “are…


euro.growth

Spain generates nearly 200 million in new debt daily

Spanish public debt has reached 1.763 trillion, a new record, but the most important thing for the Government is that the Debt-to-GDP ratio has fallen from 103.4% to 101.5% of GDP in one year. It forgets to mention that inflation in the first half of the year stood at 3.2%, meaning GDP is “inflated” by price increases that do nothing but erode Spaniards’ purchasing power. Economic theory emphasizes that public…


Deoleo

Dcoop bids €470 million for Deoleo to become the olive oil market leader

Dcoop takes the initiative to acquire the olive oil group Deoleo. Its €470 million offer is currently the best positioned, with its Italian rivals, Coricelli and New Princess, showing no signs of improving theirs. If Dcoop’s plans come to fruition, the advantages for the cooperative are clear, as it would gain control of iconic brands with a strong presence in Spain and Latin America, such as Carbonell, Koipe, and Hojiblanca….


exports gorgeous

Trade deficit rises 30% in the first half of the year, reaching €32.781 billion

The trade deficit stood at nearly €32.781 billion in the first six months of the year, representing a 30.5% increase compared to the same period of the previous year, according to data from June’s foreign trade report published this Tuesday by the Ministry of Economy, Trade and Business. This result is the outcome of a 2% increase in exports, which reached €201.1336 billion between January and June—the second highest figure…