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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 SeatTC

Spanish economy 10th December 2021

Brussels Backs Spanish Plan For Investment In Electric And Connected Cars With 3 Billion Euros

Last week, the European Commission gave the go-ahead for the first 10 billion euros of the recovery fund to reach Spain, pending approval from the other Member States. Today, Brussels has given the green light to the first of the six “Strategic Projects for Economic Recovery and Transformation” (PERTE) which Spain has presented, dedicated to the development of electric and connected vehicles. “This €3 billion Spanish plan will help to…

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Spanish economy 9th December 2021

Mercadona To Raise Salaries By 5% To Adapt To Inflation

According to today’s Expansión newspaper, the Spanish retail leader – with a market share of close to 25% – has become the first major company to take measures to prevent inflation from causing a loss of purchasing power for its more than 93,000 employees in Spain. The figure rises to 95,000 workers if its teams in Portugal are added, whose salaries will also be adapted in that market. Inflation closed…

pensiones playita

Spanish economy 9th December 2021

OECD Criticises Pension Reform; The Accounts Do Not Add Up

The OECD criticises the fact that Spain is abandoning the system of automatic adjustment of the pension system – which used the so-called “sustainability factor” – to replace it with the so-called “intergenerational equity mechanism”. The latter involves a rise in social security contributions of 0.6% over 10 years, something that is not even equivalent to the costs of indexing pensions to inflation. According to the OECD, the “intergenerational equity…

Ireland

European economy 8th December 2021

Ireland To Receive €920.4 Million From Brexit Adjustment Reserve

Antoinette Tyrrel (European Views) | The European Commission has adopted the decision to reserve €920.4 million in funding for Ireland as part of the Brexit Adjustment Reserve. Ireland is set to be the biggest beneficiary of the Brexit Adjustment Reserve and the first Member State to receive its pre-financing. The Brexit Adjustment Reserve totals €5.4 billion and has been put in place to support all Member States while ensuring a…

sustainability green planet

Spanish economy 8th December 2021

Global | An Update On The Global Outlook With A Focus On Inflation

Jorge Sicilia (BBVA Research) | Price pressures continue to build up; inflation is at high levels mainly in the US, but also in the Eurozone, while in China it remains still relatively low. The recovery will continue, but will lose momentum on the ongoing supply shocks and impact on inflation, which will lead CBs to act earlier, especially in the US.A solid demand recovery on stimuli, savings and vaccines, coupled…

Brazil

Relevant News Item 8th December 2021

Brazil’s Vicious Cycle: Breaking Out Of It Will Be Hard To Do

Crédito y Caución | In March 2021, Brazil’s central bank started its rate hiking cycle. This has raised investors ́ concerns thatgovernment finances will deteriorate, as they are highly sensitive to shifts in interest rates.•Worries about the credibility of a constitutional spending ceiling, a key fiscal anchor, are adding to those concerns.•The risk of higher fiscal deficits and a depreciating currency have increased inflationary pressures, forcing thecentral bank to lift…

china happy

World economy 7th December 2021

China Is At The Start Of An Easing Cycle

Alicia García Herrero (Natixis) | The PBoC cut the Required Reserve Ratio (RRR) by 0.5 percentage points yesterday, amid the economic slowdown. This should not surprise us, as China is in the midst of a cyclical slowdown. However, the move has happened when China’s PPI and CPI have just edged up to 13.5% and 1.5% from 10.7% and 0.7% respectively in November. The message to the market is clear: avoiding…

Planas

Spanish economy 7th December 2021

The Minister For Agriculture, Fisheries And Food Conveys Spain’s Priorities For The Next Council Of Fisheries Ministers To The EU Presidency

The Minister for Agriculture, Fisheries and Food, Luis Planas, has conveyed Spain’s disagreement with some of the European Commission’s proposals on fishing opportunities and management measures for 2022 to his Slovenian counterpart Jože Podgoršek, whose country currently holds the EU presidency. Podgoršek will chair the Council of Agriculture and Fisheries Ministers which is due to decide on Total Allowable Catches (TACs) and quotas for 2022 on 12-13 December in Brussels….

Spanish economy general

Spanish economy 6th December 2021

Spain | Outlook For Economic Recovery In 2022

Rafael Domenech (BBVA Research) | Though 2022 should be a better year for GDP growth in the Spanish economy than 2021, the current outlook is also far more uncertain than it was a year ago, due to the appearance of new risks and an increase in existing ones — making forecasts even more volatile. Key points There has been a clear acceleration in recovery over the current year: from a…