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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.
The cancellation of Mexico's airport could cost the country more than €4.4 Bn

Ibex, Markets 1st November 2018

The Cancellation Of Mexico’s Airport Could Cost The Country More Than €4.4 Bn

The president elect of Mexico, Andrés Manuel López Obrador, confirmed the cancellation of the construction works for the airport of Mexico. This is the result of the binding referendum and means the end of a project with a budget of €10 bn, of which 20% has been completed. The president’s alternative proposal is to enlarge the the military airport Santa Lucia (terminal for international flights) and modernise the old airport of Benito Juárez in the centre of Mexico City (for domestic traffic).

Forty years of democratic Spain: No resemblance to what it was

Spanish economy 1st November 2018

Forty Years Of Democratic Spain: No Resemblance To What It Was

On next December 6, the Spanish Constitution and therefore Spain’s democracy turns 40 years old after another 40 years of dictatorship. Until that day, The Corner is going to publish a series of articles written by William Chislett, associate analyst at the Elcano Royal Institute about, precisely, how much and and how deep the country has changed in these last 4 decades. Today’s story is just the beginning.

Santander rose attributable profit during the 9M18 by 13% to €5,742 M

Ibex, Markets 31st October 2018

Santander Reported Attributable Profit Of €5,742 M- Up 13% To September Driven By Spain And Brazil

Banco Santander increased attributable profit during the first nine months of 2018 by 13% to €5,742 million (+28% in constant euros), as strong growth in revenues in several markets, combined with improvements in credit quality, more than offset the impact of exchange rate depreciation against the euro in certain currencies, including the Argentine peso. Profit before tax for the period was €11,230 million–up 10 % (+23% in constant euros).

Iberdrola inaugurates its first offshore project In Germany

Ibex, Markets 30th October 2018

Iberdrola Inaugurates its First Offshore Project In Germany, 100% Designed And Operated By The Firm

Iberdrola began operations yesterday in the maritime wind farm Wikinger in the waters of the Baltic in Germany, which supposes the first maritime wind power project built by the group on its own, with an investment rising to 1.4 billion euros. With an output of 350MW, this wind farm represents the first phase in a larger wind power complex, of 836 MW and with a joint investment of 2.5 billion euros.

The euro suffers for Angela Merkel , but not the soverign debt

In Europe 30th October 2018

The Euro Suffers Because Of Angela Merkel, But Not Sovereign Debt

The market reaction to Angela Merkel’s decision has not been bad. The euro depreciated to 1.1373 against the dollar, but sovereign debt suffered more because of the greater risk appetite, and the returns on 10 years German bonds rose to +2.5 bp. However, given that Merkel has held the role of a stabilising figure in Europe, some analysts expect that the long term markets could be concerned by the vacuum she could create with her departure.

 

Bolsonaro’s victory will likely worsen an already acute crisis in Brazil

World economy 29th October 2018

Bolsonaro Wins Brazil Election, Promises To Purge Leftists From The Country

via The Conversation | Bolsonaro’s victory will likely worsen an already acute crisis in Brazil, the second-most populous nation in the Western Hemisphere.Once a rising star in the developing world, Brazil has been mired in severe recession and political turmoil since 2015. Hundreds of politicians, including former President Lula, have been arrested and jailed in a judicial investigation that has exposed corruption at the highest levels of government.

 

Grifols

Ibex, Markets 29th October 2018

Grifols Offers Hope Of A Treatment For Alzheimer

On Friday Grifols presented the results of its AMBAR (Alzheimer Management by Albumin Replacement) (phase IIb/III) study in Barcelona. AMBAR is an innovative possible treatment based on the therapeutic properties of plasma which has shown, statistically significantly, its effectiveness in slowing the progression Alzheimer in moderately affected patients.