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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.
repsol LNG

Ibex, Markets, Spanish economy 9th December 2020

Repsol Is Expected To Float Its Renewables Subsidiary In Less Than Two Years

Repsol announced the IPO of its renewables area or an alliance with a third party in its Strategic Plan 2021/2025 presented on November 26th. The operation could be carried out in less than two years and it will always maintain control of the shareholders. The company expects to raise at least 1.4 billion euros with the floating, which would mean valuing the division at around 3 billion euros. It would be one of the largest operations of the last decade.

inflation course

In the World, World economy 8th December 2020

What About Inflation? When It Will Come?

José Ramón Díez Guijarro (Bankia Estudios) | In the more recent past, the central banks have had enough to deal with trying to combat the risk of deflation linked to the structural changes of recent decades: globalisation, ageing population, digitalisation, etc. And now, practically without any solution of continuity, they have to face a crisis which may lead to new permanent “shocks” in inflation. These would derive from changes in the consumption patterns and from the accelerated digitalisation process. Or from the intensive use of non-conventional monetary policy measures.

Sin título 3

European economy 7th December 2020

Busy Thursday

This Thursday could be a key moment for Europe, with the ECB meeting and the beginning of the European council. We could get a positive surprise on the time extension of PEPP, but the constraints on the “top-up” are significant. There is some tentative progress on the “rule of law” spat but hurdles abound. The Council meeting could bring about the denouement of the Brexit saga.

Spain ratings

Spanish economy 7th December 2020

There Was A 12.5% Growth In FDI Received In Spain In The Second Quarter

Invest in Spain | According to the Foreign Investments Registry at the Ministry of Industry, Commerce and Tourism, gross FDI (holding companies and non-holding companies) received in Spain in the second quarter of 2020 amounted to 5,009 million euros, an increase of 83% over the figure for the previous quarter. Furthermore, foreign investment increased in all modalities.

European Union

European politics 5th December 2020

‘Sovereign Europe, hostile world: Five agendas to protect Europe’s capacity to act’

This detailed study is authored by experts Mark Leonard and Jeremy Shapiro, and examines how the EU and its member states can develop European and national-level policies to strengthen Europe’s resilience in the face of increasing geo-political competition. The report identifies five areas – healthcare, security and defence, technology, international economic policy, and action on climate change – where there is room for development.

Germany labour market

European economy 4th December 2020

ifo Institute: Coronavirus Crisis Threatens Survival of 15 Percent of German Companies

The coronavirus crisis threatens the survival of 15 percent of German companies, according to their responses to the ifo Business Survey for November. “That’s an improvement over June, when the figure was 21 percent,” says Klaus Wohlrabe, Head of Surveys at ifo. “Nevertheless, 86 percent of travel agencies and tour operators currently feel threatened, as do 76 percent of hotels and 62 percent of restaurants.”

Spain Budget2021

Spanish economy 4th December 2020

Spain Already Has A Budget For 2021, At Last

On Thursday, Parliament approved the 2021 Budget with the support of 11 parties and 188 votes, including Catalan and Basque separatists. Thus, the future of the new accounts, the first of the minority, left-leaning coalition government, is finally clear. They would come into effect on January 1, leaving behind those of 2018, drawn up by the previous PP government and still in force. The budgetary plan includes broad tax increases and the birth of the Tobin and Google taxes.

manufacturing activity

In the World, World economy 4th December 2020

The Global Manufacturing Cycle Continues To Expand Despite The Recent Moderation In The PMIs

Morgan Stanley | The global manufacturing PMI moderated in November to 53.7 after reaching the peak in October (54.3). Even so it is still above the last 10 years average. In addition, 86% of the PMIs that make it up are still in expansion territory.The PMIs are sequential indicators so it is quite normal to see this moderation after the strong rebound. As for services PMIs, the Eurozone’s main economies saw it fell back to levels below the 50-point threshold. The biggest drop was in France, the lower in Spain.

Christmas2020

Spanish economy 4th December 2020

Plan For A Pandemic Christmas In Spain: Communities Closed Except For Visiting Families

It is now official. Spain has a common plan for 2020 Christmas in order to avoid a third wave of coronavirus infections. Among the measures approved are delaying the limit on mobility on Christmas Eve and New Year’s Eve until 1:30 a.m., perimetral confinements of regions throughout the Christmas period, except for travel of family and friends. In addition, dinners and lunches will be hold for no more than 10 people, without specifying whether children or adults, on December 24, 25 and 31 and January 1.