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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.
bbva sabadell

Spanish economy 10th June 2025

“Sabadell is not a fundamental and irreplaceable operator” concludes CNMC in analysis of BBVA’s takeover bid

Link Securities | The National Markets and Competition Commission (CNMC) concluded in its April report on BBVA’s (BBVA) takeover bid that Banco Sabadell (SAB) “is not a fundamental and irreplaceable operator” in the world of SMEs, and that it is losing market share in this business, according to Expansión and the Efe news agency on Friday. For more than eleven months, the CNMC analysed the impact that the acquisition of…

Redeia nuevo

Relevant News Item 9th June 2025

Electricity system costs increase by 59.4% in May due to security measures taken by Redeia

Alphavalue/DIVACONS | Electricity system costs increased by 59.4% in May compared to April due to measures taken by Red Eléctrica de España (Redeia) (REE) to reinforce security of supply following the 28 April blackout caused by the collapse of the peninsular system, according to data from Grupo ASE. The consultancy’s analysts point out that Red Eléctrica has been operating “with extreme caution” since the incident, resorting to fossil synchronous technologies…

China EEUU choque 1

In the World 9th June 2025

China’s exports to US fall 34.4%, lowest level since February 2020

Bankinter: China’s Trade Balance widened its surplus in May, to $103.22 billion versus an estimated $101.1 billion and $96.18 billion previously. Bankinter analysis team’s view: The CPI has contracted for the fourth consecutive month and reflects the weakening of consumption. In the industrial sector the situation is even more complicated. Industrial Prices have remained negative since October 2022. On the other hand, the Trade Balance shows an increase of the…

PP

In Spain 9th June 2025

Thousands Protest Against “Government Mafia” and Demand Elections

One hundred thousand people, according to the Popular Party (PP), which organized the rally, and 50,000 according to the government, the target of the protest, gathered yesterday in Madrid’s Plaza de España to protest against the ongoing institutional degradation and demand immediate elections. As the PP leader stated, “No one voted for him to do this.” “This” refers to the grotesque spectacle that has been dominating the front pages of…

bankiajuntafusion

Relevant News Item 9th June 2025

Caixabank claims €132m from large insurers for alleged breaches of contract in Bankia’s flotation

Link Securities | Caixabank (CABK) has filed a lawsuit claiming €132 million from five major insurers (Liberty, Allianz, Zurich, Torus and Beazley) for alleged breaches in the contract to cover the civil liability of Bankia’s IPO, according to the newspaper Expansión. Caixabank considers that the expenses that Bankia had to face after its rescue were a circumstance that was covered by the insurance policy taken out.

Alemania PIB

European economy 6th June 2025

German government approves €46 billion tax relief package

Bankinter | The German government has approved a tax relief package worth €46 billion (11% of GDP), which will need to be ratified by parliament. The stimulus includes a corporate tax cut of 1% a year from 2028 (to 25% from the current 30%) and deductions for the purchase of new machinery and other equipment. The Houses could pass it by the end of the summer. Bankinter analysis team’s view:…

indra edificio

Relevant News Item 6th June 2025

Morgan Stanley raises 3.331% stake in Indra, mainly through financial derivatives

Alphavalue/Divacons | The company is negotiating the sale of its outsourcing division Servinform, a Spanish firm specialising in digitalisation services for companies, which has just been acquired by the Anglo-Swiss private equity firm AS Equity Partners. On the other hand, Morgan Stanley has raised a 3.331% stake in Indra, mainly through financial derivatives, according to National Securities Market Commission (CNMV) records. Other major shareholders: SEPI (28%), Escribano (14.3%), SAPA (7.9%),…

ACS nuevo

In the World 6th June 2025

ACS wins €3.25 billion US contract to build new convention centre in Texas

Intermoney | The authorities of Dallas (Texas) have awarded the alliance formed by ACS (Buy, PO €56) through its subsidiary Turner and Aecom Hunt the construction of the Kay Bailey Hutchison Convention Center, a pharaonic work with a budget of around €3,250 million. The two partners, through the joint venture Trinity Alliance, will be responsible for supervising all the services associated with the construction and demolition for the expansion of…

Spain defence spending

In Spain 6th June 2025

Spain Refuses NATO’s Demand to Increase Military Spending to 5%

Spain’s categorical refusal to invest more than 2% of its GDP in defense has sparked “discomfort” and “frustration” among NATO allies, especially those more committed to Europe’s defense. While other allies are in a similar situation, and the North Atlantic Treaty Organization is aware of this, there has not been such a firm rejection of investing more than 2% in defense. This comes even after NATO Secretary General Mark Rutte…

bbva sabadell

In Spain 6th June 2025

Pedro Sánchez, “between a rock and a hard place” in BBVA’s takeover bid for Banco Sabadell

Alphavalue/DIVACONS | “An unwanted headache for Prime Minister Pedro Sánchez”. This is how Bloomberg describes the government’s attempts to stop BBVA’s takeover bid for Banco Sabadell. According to the US media outlet, opposing the takeover “seemed like an obvious decision” when it was announced a year ago. However, Bloomberg quotes sources close to Sánchez as saying that the president “is caught between a rock and a hard place, looking for…