Top Stories

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.
spain savings rate

Spanish economy 15th July 2022

Brussels Warning: Spain Will Have Inflation Of 8.1% In 2022 And Will Grow Less In 2023

The European Commission has not corrected its forecasts with respect to May: growth remains at 4%, close to the Government’s April forecast of 4.3%. The blow comes in 2023, with one of the biggest downward revisions in Europe, of 1.3 percentage points: growth of 2.1%, after the Commission itself estimated months ago that it would be 3.4%. For this period, the government had estimated 3.5% growth three months ago. The…

Putin

European economy 14th July 2022

Sanctions on Russia? The current account surplus rose to USD 110.3 billion in May 2022, up 244% from May 2021

Crédito y Caución (Atradius) | Owing to the war in Ukraine and sanctions on Russia, Eastern Europe is likely to see a 0.6% contraction of GDP in 2022, followed by 1.1% growth in 2023. We forecast that the economy of Russia will contract by 8.0% in 2022, followed by another 2.8% decline in 2023. Sanctions deprive Russia of much-needed industrial components. On the other hand, Russia still exports large quantities…

weltkarte

World politics 14th July 2022

Economists See Ray of Hope for Political Situation in Almost All Regions of the World

IFO Insitute | The assessment of the political situation improved worldwide in the second quarter of 2022 according to the latest Economic Experts Survey (EES) – a global quarterly survey conducted by the IFO Institute and the Swiss Economic Policy Institute – which this time had 1,795 participants from 127 countries. At plus 10 points, they assessed political stability worldwide as significantly better than in the previous quarter. “Despite energy…

Colonial

Companies, Ibex, Relevant News Item 14th July 2022

Colonial confirms main strategic points: rental income of €510 M in 2025

Intermoney | Colonial (Hold, Target Price 9,5 euros) celebrated its Capital Markets Day (CMD) in Paris on Monday. The socimi confirmed its main strategic points, such as focus on its three markets, maintaining a stable financial structure, asset rotation policy and reinforcing ESG policy. In the face of doubts from some investors, Colonial confirmed the high occupancy levels in its portfolio in service, and in the one where it will be…

grifols blood bags

Companies, Ibex, Spanish economy 13th July 2022

Grifols warns recovery could be threatened; puts the brakes on acquisitions and suspends dividends

Link Securities | The daily elEconomista.es made echo on Monday of a risk report Grifols presented to the US regulator SEC. In the document, the Spanish multinational pharmaceutical company admitted the recovery could be threatened by the pressure from a competition which has increasingly more resources and already offers solutions similar to those of the listed Catalan firm. Grifols warns in the report that its rivals are tough: “Our main competitors…

spain flag crisis concept 1379 4664

Spanish economy, Spanish Politics 13th July 2022

“The Ashes Of The Nation”

“Sánchez is capable of competing with Johnson in his race of compulsive liars” says the former editor of El País. Hours before the debate on the State of the Nation begins in the Spanish Parliament, Juan Luis Cebrián, the former first editor of the well-known “government newspaper” – El País – has published a very harsh article (“Las cenizas de la Nación”). In it he points out, for example, that…

PSOE

Spanish Politics 12th July 2022

Former PSOE Leaders Denounce Sánchez’s Law Of Democratic Memory And The Pact With Bildu. Current Leaders Keep Quiet And Maintain Their Salaries

Several historic leaders of the PSOE have signed a statement against the Democratic Memory bill and the agreement reached with EH Bildu, considering it a “distortion” of the historical truth by extending the “suspicious period” of the dictatorship until 1983. The letter, issued by the Association for the Defence of the Values of the Transition, is signed by former socialist leaders such as the former presidents of the Senate, Javier…

The security of the UK’s LNG supply is precarious

Spanish economy 12th July 2022

Spain Increases Gas Purchases From Russia (+3.2%) While Purchases Of Algerian Gas Fall (+41%)

Imports of gas from Algeria fell by 41.11% in the first half of 2022 compared to the same period the previous year. Meanwhile, purchases of this raw material from Russia increased by 3.2% year-on-year in the first six months of the year, according to the latest data from Enagás’ Boletín Estadístico, corresponding to June. Specifically, in the first half of the year Spain bought 55,962 gigawatt hours (GWh) of gas…

Enagas

Companies, Ibex, Spanish economy 12th July 2022

Enagás will flag potential growth in hydrogen; but visibility with regard to financing is very limited

Morgan Stanley | Enagas will present its strategic plan 2022-2030 this week. We are not very positive ahead of this presentation as we expect the company will flag the potential growth in hydrogen. This is something which we believe is very long-term and seems already to be reflected in the price at 20 euros/share. Meanwhile the visibility with regard to financing is very limited. In the most optimistic scenario the…

IAG

Companies, Relevant News Item 11th July 2022

Over 40,000 flights suspended as airline sector reviews the whole summer; bad news for IAG

Intermoney | The lack of personnel and strikes are leading to the suspension of over 40,000 operations out of those forecast for Europe over the summer months (25,000 alone between British Airways, Easyjet and Lufthansa). They are also provoking innumerable delays and problems with luggage. The fast increase in demand has been mixed with both the airlines and the airports’ difficulties’ in recovering the volume of their workforces which decreased…