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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.

Spanish economy 28th April 2022

Repsol Posts Net Income Of €1.392 Billion In Q1 2022

Adjusted net income, which measures the performance of the businesses, was €1.056 billion, 69% of which came from the Exploration and Production division that carries out all its activities outside Spain. The invasion of Ukraine, which is affecting the international environment in 2022, has led to a significant increase in the prices of raw materials, with a clear impact on fuel prices. The Exploration and Production business was supported by…

Spanish economy 28th April 2022

Unemployment Rises By 70,900 In The Year To March, And Inflation Falls To 8.4%.

Unemployment rose by 70,900 people between January and March, up almost 2.3% from the previous quarter, while employment fell by 100,200 jobs (-0.5%). This is the smallest decline in a first quarter since 2019, when 93,400 jobs were destroyed. At end-March, the total number of unemployed people stood at 3,174,700 and the number of employed at 20,084,700, the National Statistics Institute (INE) reported on Thursday. The increase in unemployment in…

Spanish economy 28th April 2022

Spain Passed 32 Royal Decrees In 2021, The Second Highest Figure Since 1978, Says Employers Association

Spain approved a total of 32 royal decrees laws in 2021, the second highest figure since 1978 after that of 2020, when the health crisis led to the approval of 39 such rules. This is according to the report ‘Regulatory Production’ that CEOE prepares every year and in which it is found that 2021 was the sixth consecutive year in which the number of royal decrees exceeded the number of…

World economy 27th April 2022

Taiwan’s Economy Is Still Holding Up, But Capital Outflows And Mainland China’s Lockdowns Show The Risks

Alicia García Herrero (Natixis) | With high inflation globally and supply chain disruptions in Mainland China, Taiwan will face more headwinds in growth. Even though the economic fundamentals are still supportive, the worsened environment can multiply risks in capital outflows and corporate profits. Above all, the good news is exports and investment remain the strong pillars. With buoying global demand, Taiwan’s export grew 24% YoY in Q1 2022. There was…

Spanish economy 27th April 2022

Spain And Portugal Reach Political Agreement With Brussels To Temporarily Limit Gas Prices To 50 €/MWh

Spain and Portugal announced Tuesday that they have reached an agreement with the European Commission (EC) to limit the impact of gas in the formation of electricity market prices. Spain and Portugal announced the agreement after holding a meeting in Brussels with the Vice-President of the European Commission responsible for Competition, Margethe Vestager, after the European Council approved in March an “Iberian exception” so that these two countries could prevent…

Spanish economy 26th April 2022

Santander’s Q1 Attributable Profit stood at EUR 2.543 Billion, 58% up yr-on-yr

Banco Santander obtained an attributable profit of 2.543 billion euros in the first quarter of this year, 58% more than a year earlier, when the bank took a 530 million charge for restructuring costs. Ordinary profit, which excludes that impact, rose 19%, the bank told the Spanish National Securities Market Commission (CNMV) on Tuesday.Santander is confident it will achieve the 2022 targets it announced in February: revenue growth of around…

Spanish economy 26th April 2022

Industrial Prices Soar 46.6% In March, Their Highest Rise In 46 Years, Due To Energy

Industrial prices rose by 6.6% last March compared to the previous month and soared 46.6% year-on-year, 5.5 points higher than in February and record growth in 46 years, as reported Monday by the National Statistics Institute (INE) and collected by Europa Press. With the year-on-year increase in March, the highest since the beginning of the series in January 1976, industrial prices chain 15 consecutive months of year-on-year increases and again…

Spanish economy 25th April 2022

More Cars Over 15 Years Old Are Already Being Bought In Spain Than New Vehicles

According to data from Ganvam, the National Association of Motor Vehicle Dealers, Repairs and Spare Parts, between January and March of this year, 167,120 vehicles over 15 years old were sold in Spain. This compares to the 164,399 new cars registered in the same period. As the president of Ganvam, Raúl Palacios, explained to the business newspaper 5 Días, “In the end, the second-hand market is still a reflection of…

European politics 25th April 2022

Macron Stays In The Elysée

After a crisis-plagued mandate, centrist Emmanuel Macron on Sunday became the first president to win re-election in France since 2002. With 58.54% of the vote, the candidate of La République en Marche, once again defeated Marine Le Pen, standard-bearer of Rassemblement Nationale, who would have won 41.46% of the vote in Sunday’s election. “From now on, I am no longer the candidate of one camp, but the president of all,”…

Spanish economy 25th April 2022

BBVA Hikes Price Of Bid For 50.15% Of Turkey’s Garanti From 12.20 To 15 Liras/Share

BBVA’s board of directors has decided to increase the price of the takeover bid it launched last November for the 50.15% stake it does not control in Garanti, its Turkish subsidiary. Specifically, the bank has upgraded the takeover bid from 12.20 to 15 Turkish liras per share, as reported to the National Securities Market Commission (CNMV). BBVA flags that the total outlay for the takeover bid will be 31.595 billion…

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