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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.
cars to export

European economy 22nd April 2022

Spain (-30%) Leads European Car Sales Decline (-18.8%) Last Month

Car registrations in Europe (EU+EFTA+UK) fell by 18.8% YoY in March to 1.127 million units, according to ACEA data. Most countries in the region recorded double-digit sales declines, including the five key markets: Spain (-30.2%), Italy (-29.7%), France (-19.5%), Germany (-17.5%) and the UK (-14.3%). As a result, first quarter sales declined by 10.6% YoY in the region to 2.75 million units. All manufacturers suffered double-digit declines; Jaguar sales fell…

escriva

Spanish economy 22nd April 2022

The Social Security Expects 36,000 New Affiliates In April And Already Exceeds 20 Million Contributors

The Social Security estimates that April will close with 36,000 more members and has already exceeded 20 million contributors so far this month, with a total of 20,057,588 members as of Thursday, 21 April. This is according to data presented by the Minister for Inclusion, Social Security and Migration, José Luis Escrivá, at a press conference this morning. Escrivá described the data as “very positive”, taking into account “the significant…

Mobile payments

Spanish economy 21st April 2022

Bizum Reaches 20 Million Users And 1 Billion Transactions

Bizum, the Spanish bank’s mobile payment solution, has reached 20 million users, which means that it is now used by approximately half of the Spanish adult population. In addition, it has also reached 1,000 million transactions, of which 990 million correspond to payments between individuals and 10 million to payments in shops. The volume associated with Bizum transactions has reached €50,558 million since its launch, of which 50,000 were payments…

Iberdrola

Spanish economy 21st April 2022

Copying The Portuguese Regulated Electricity Tariff System In Spain Would Reduce The Price By 40%, According To The Chairman Of Iberdrola

The chairman of Iberdrola, Ignacio Sánchez Galán, yesterday called for a modification of the regulated electricity tariff (PVPC): “We have a differential element which is the design of our regulated tariff, unique in Europe. If a design similar to that of other countries is made, the regulated tariff, which only affects ten percent of the energy consumed in Spain, could fall by between 30% and 40%”, he told the media…

Kristalina IMF

Spanish economy 21st April 2022

IMF Downgrades Spain’s Growth Forecast Again: To 4.8% In 2022 And 3.3% In 2023

Link Securities | The International Monetary Fund (IMF) has lowered for the second consecutive time the growth forecasts for Spain within a general downward revision of the global GDP for 2022, as reported by the newspaper elEconomista. Spain’s economy will grow by 4.8% in 2022, one point less than in January’s World Economic Outlook (WEO) and 1.6 points less than in October 2021, when the agency predicted a solid 6.4%…

BBVA Holvi

Spanish economy 20th April 2022

BBVA’s Treasury Stock Now Exceeds 5% But The Share Price Remains Unchanged

BBVA has increased its treasury stock to 5.28% of the bank’s capital, up from 4.38% previously, setting a record high since records began. The increase in treasury shares is in response to BBVA’s programme to buy back up to 3.5 billion euros of these shares. On 18 March 2022, BBVA’s general shareholders’ meeting approved a proposal to reduce the bank’s share capital by up to 10% through the redemption of…

Government

Spanish economy 20th April 2022

Spain Removes The Mask 699 Days Later

The Council of Ministers on Tuesday removed the obligation to wear a face mask indoors. It does so 699 days after the Government established, for the first time on 21 May 2020, the mandatory use of this protection both indoors and outdoors. Since then, entry to bars, shopping centres, banks and supermarkets has been linked to the compulsory use of a mask to prevent the spread of Covid-19. A necessity…

renewables

European economy 20th April 2022

European PPA Prices Rise 27.5% In The First Quarter Of The Year; Spanish PPAs Remain The Cheapest

Renta 4 | The latest report published by Levelten, a renewable transactions consultant and PPA market operator, states that the prices of PPAs signed in Europe reached €57/MWh (blended solar and wind), which represents an increase of 27.5% vs. the first quarter of 2021 and 8.6% in this quarter alone. Solar PPAs in Spain averaged €38/MWh, 12% higher (€4/MWh) than in 1Q21, being the country with the lowest solar PPA…

Africa opens up borders to free trade

Spanish economy 19th April 2022

The Rise In Exports Does Not Prevent The Trade Deficit (10.775 Bn Euros) From Soaring Up To February

The trade deficit stood at 10.774.7 billion euros in the first two months of the year, which is almost four times the figure recorded in the same period of 2021. The report on foreign trade by the Ministry of Industry, Trade and Tourism shows that the energy deficit reached 6.984.5 million euros, double the figure for the same period in 2021 (3.110.4 billion euros), while non-energy exports stood at 3.790.2…

Tesla Q4 deliveries

World economy 18th April 2022

Electric Vehicles Already Account For 9% Of Global Sales

The Santander analysts review the electric car market and explain that “Delivery times for the main models in Europe have increased considerably. The Renault Zoe and Twingo Electric are no longer sold in Germany because delivery times are too long. The waiting time for an Audi Q4 e-tron is now 18 months. This also explains the current success of Stellantis Electric Vehicles in Europe, where their lead times are shorter…