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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.
aena el prat

Spanish economy 17th June 2025

Ministry of Transport and Generalitat give green light to El Prat airport expansion

Intermoney | Aena (AENA) (Buy, Target Price €215/share) announced on Tuesday the agreement between the Ministry of Transport and the Generalitat de Catalunya, approving the operator’s plan for the expansion of El Prat Josep Tarradellas airport in Barcelona. The work, which will involve an investment of some €3.2 billion, will consist of extending one of the runways by 500 metres to a length of 3,160 metres, which will allow the…

sicilian mafia godfather

In Spain 17th June 2025

Spain, In the Hands of an Unscrupulous Leader

The parties supporting Sánchez, who is currently surrounded by corruption allegations, want him to remain in power so they can continue to blackmail him. They’ve made this clear in recent days. The Catalan independentist parties, Junts and ERC, hope that the Constitutional Court—colonized by the PSOE, like all state institutions—will rule the amnesty constitutional, arguing it’s not explicitly prohibited by the Constitution. They also expect Sánchez to fulfill his commitment—the…

iberdrola señalada

Spanish economy 16th June 2025

Iberdrola, Endesa and Naturgy present proposal on nuclear calendar that will review Enresa tax

Banco Sabadell | According to press reports, the electricity companies have submitted a proposal to MITECO (Ministry for Ecological Transition) to revise the nuclear calendar, which involves maintaining the final closure date of 2035 and extending the planned intermediate deadlines. The proposal includes, among other things, the intention to request the Nuclear Safety Council (CSN) to extend the two Almaraz reactors (Iberdrola 52.7%; Endesa 36%; Naturgy 11.3%) until 2030 (as…

China

In the World 16th June 2025

May data from China: retail sales improve but distorted by subsidies, house prices in free fall, weak industrial production

Bankinter | Negative macroeconomic data in May: retail sales improve but influenced by government subsidies. House prices in free fall and weak industrial production. Retail sales stood at 6.4% (year-on-year) against 4.9% expected and 5.1% previously. Used house prices fell by 0.5% (month-on-month) from -0.4% in May, and industrial production slowed to +5.8% (year-on-year) versus +6.0% expected and +6.1% previously. Analysis team’s view: Negative reading of the data with limited…

airbus cartel 1

In Europe 16th June 2025

Consolidation key for European space sector: Airbus, Thales and Leonardo in talks to create agreements in satellite divisions

Morgan Stanley | Europe is under increasing pressure to upgrade its space capabilities, with more investment needed if it wants to reduce its high dependence on players such as SpaceX. In the report, analyst Terence Tsui discusses the CAPEX implications if the current European IRIS2 plan were to increase from 300 satellites for the next decade to more than 1,000 units at a cost of €10-50 billion. Overall, this would…

inflacion precios

Spanish economy 16th June 2025

Spanish inflation moderates to 2% in May, lowest level since October 2024

CdM | The Consumer Price Index (CPI) fell by two tenths of a percentage point in May, standing at 2% year-on-year, the lowest level since October 2024, when it stood at 1.8%, according to final data published on Friday by the National Statistics Institute (INE). This figure is slightly higher than the provisional estimate, which predicted a drop of three tenths of a percentage point to 1.9%. Despite the difference,…

Aena nuevita

Relevant News Item 16th June 2025

Aena to execute 10×1 split on 19 June, and announces 3% increase in passenger traffic in Spain in May

Intermoney | Aena (AENA) (Buy, Target Price £215/share) confirmed on Thursday that it will execute the previously announced 10×1 split next Thursday, 19 June; this measure was already announced in conjunction with the 2024 annual results. On the other hand, the operator announced, with the market open, passenger and freight traffic figures for May 2025. The figures for Spain showed an increase of 3% last month to over 29 million…

bank generico

In Europe 16th June 2025

EC delays implementation of new global banking regulations by one year

Link Securities | Reuters reports that the European Commission (EC) announced yesterday that it will delay the implementation of new global rules governing banking operations by one year, until 1 January 2027. Sources told Reuters last month that the European Union (EU) would delay the implementation of the rules pending further clarity on the US government’s plans to deregulate its financial sector. The so-called Fundamental Review of the Trading Book…

ACS novisimo

In the World 16th June 2025

ACS wins one of Canada’s largest public works contracts: bridge between Saint Catharines and Niagara

Link Securities | ACS (ACS) has strengthened its presence in North America by winning one of Canada’s largest public works contracts, according to Expansión newspaper. The contract is for a new bridge between the cities of Saint Catharines and Niagara (Ontario), with an investment budget of over €1 billion. ACS has won the contract through its American subsidiary FlatironDragados in partnership with local groups Demathieu & Bard and Green Infrastructure…

sacyr edificio logo nuevo

In Europe 16th June 2025

Sacyr about to sign contract for Messina Strait Bridge, Europe’s largest public works project

Link Securities | The Sacyr consortium responsible for the construction of the bridge over the Strait of Messina (Italy) is about to sign the contract for what would be Europe’s largest public works project in terms of investment, worth around €13 billion, of which around €10 and a half billion correspond to the Sacyr consortium, which holds 22.4% of the business alliance involving the Italian companies Webuid, Condotte and Itinera….