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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.
aranceles china

World economy 9th January 2022

The ‘China Shock’ Of Trade In The 2000s Reverberates In US Politics And Economics

Amitrajeet A. Batabyal ( The Conversation) In December 1978, the Chinese leader Deng Xiaoping introduced economic reforms that dramatically altered China’s economy by strengthening trade and cultural ties with the West. Beginning in the 1990s, these reforms set China on a trajectory to become what it is today: a nation with a dynamic and substantially market-driven economy that is also the world’s second-largest. U.S. residents have enjoyed lower-priced goods exported…

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European economy 8th January 2022

2022, A Favourable Year For The Markets; Average Upside Of Between +14%/+17%

Bankinter |Corporate results will be one of the major catalysts, but also the reduced impact of Covid-19, with new medicines to fight it. Inflation will moderate im the second half of the year and central banks will slowly normalise their monetary policies, which is reasonable against a backdrop of economic expansion. Whatsmore, financial conditions will be accomodative and liquidity will be high. We envisage an average upside potential for the…

ElectricityTC

Spanish economy 7th January 2022

The Rise In Electricity And Gas Prices Will Cost €9 Bn to Spanish Consumers, Says Bank Of America

The financial entity calculates the impact that the current energy price crisis will represent for the main European countries at around 107,000 million euros. Spain is not the country where this shock to the domestic consumer will be the greatest since in theUk will amount to 27,700 million euros, while in Italy it will be 24,500 million euros, in Germany 23,000 million euros and in France 22,100 million euros.

labor market reform

Spanish economy 6th January 2022

The Shortage Of Large Firms In Spain Makes The Spanish Economy Productivity Remain Relatively Low

Oriol Aspachs (Caixabank Research) | There are still few large companies in Spain, especially when compared to the major developed countries. This is undoubtedly one of the main reasons why the productivity of the Spanish economy remains relatively low. In other words, this is one of the main reasons why GDP per capita in Spain, or many Spaniards’ purchasing power, remains far from the benchmark countries. Will COVID succeed where economists have failed?

unemployment spain

Spanish economy 5th January 2022

Registered Unemployment Falls Below The Level Before The Financial Crisis

Funcas | The number of people registered with Social Security rose by 72,000 in December, to 19,824,911. In seasonally adjusted terms, according to Funcas, this is equivalent to a rise of 62,000, a remarkable result in historical perspective, although it is the lowest increase since May. The total number of workers in ERTE (linked and not linked to Covid) has moderated its rate of decline, while the self-employed with benefits…

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World economy 5th January 2022

Apple Starts The Year As The First Company To Reach A Market Capitalization Of More Than $ 3 Bn

The technology giant Apple has reached a new financial milestone on Monday, having temporarily registered a stock market valuation of more than three trillion dollars (2.656 billion euros), making it the only company in the world to have reached this milestone. During Monday’s session, the company’s share price reached 182.88 dollars, two cents above the 182.86 it needed to cross the three-trillion-dollar threshold. However, having reached that figure, the share price retreated slightly.

Ebro Foods

Spanish economy 4th January 2022

Ebro Sells Panzani’s Pasta Business For €550 million (9.6x EV/EBITDA)

Intermoney | Ebro Foods (EBRO) closed and executed on Friday December 31 the sale to CVC of Panzani’s dry pasta, couscous, sauces and semolina businesses for €550mn (100% of the business) enterprise value. Included in the sale are the related operating assets: the La Montre, Nanterre, and Vitrolles plants, as well as the Gennevilliers, Littoral and St. Just mills. In 2005, Ebro paid for all Panzani businesses a total of…

Nuclear energy in Spain

Spanish economy 4th January 2022

Spain Opposes, Together With Germany And Austria, The EU Proposal To Gas And Nuclear Energy As Renewable

Renta 4 | The European Union surprised with a new plan that would label some natural gas and nuclear energy projects as “green” investments after a year of debate among the different governments about which investments are really climate-friendly. Specifically, the Brussels text, still in draft form, includes nuclear power plants already in operation and those to be built at least until 2045, as well as gas-fired power plants, which will enjoy the same recognition until 2030.

ACS Vinci

Spanish economy 3rd January 2022

ACS Clocks Up Capital Gain Of 2.9 Billion Euros With Industrial Division Sale

Link Securities | ACS and the Vinci Group have signed, with effect from 31 December, the public deed of sale of most of ACS’s Industrial Division agreed on 31 March. Pending is the carve-out in favour of ACS of certain predetermined assets, which will be executed mainly in January and in the following months. ACS received some 4.902 billion euros as consideration. With this price, ACS has obtained a net…

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Spanish economy 1st January 2022

Mapfre To Receive €571m Compensation From Caixabank For The Break-Up Of The Bancassurance Alliance With Bankia

Mapfre has reached an agreement with Caixabank on the insurance business and announced a restructuring of the Spanish business. The compensation to be received by Mapfre for the break-up of the bancassurance alliance with Bankia amounts to 571 million euros. Of the total, 323.7 million euros corresponds to the sale to Caixabank of 51% of Bankia Vida for 110% of the market value (established by an independent expert). Then there…