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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.
President Macron

Relevant News Item 6th December 2021

French Republicans Do Macron A Favor

Nick Ottens (Atlantic Sentinel) | French Republicans have thrown away their two best chances of denying Emmanuel Macron a second term. Party members eliminated Michel Barnier and Xavier Bertrand from the center-right’s presidential primary on Thursday, giving the men 24 and 22 percent support, respectively. The more right-wing Éric Ciotti and Valérie Pécresse qualified for the runoff on Saturday. Neither polls well against the president. Besting Macron Bertrand, the conservative…

climate change north pole

World economy 4th December 2021

What Banks Could Do With Their Lending To Reverse Climate Change

Andrew Fraser (Aberdeen Standards) | They talk, but they don’t do,’ this is how the Queen expressed her frustration with world leaders on the eve of COP26. The same accusation could be levelled at the world’s major banks. They finance the world’s largest companies and have a huge role to play in halting climate change. But the opportunity has yet to be fully grasped. Banks could take a major part…

EU Budget the CAP beyond 2020 1073x480 1

Spanish economy 3rd December 2021

EU formally adopt the new CAP; Spain to get €37,000 M for farmers and €8,000 M for rural development

The countries of the European Union adopted on Thursday the common agricultural policy (CAP) for the period that will apply from January 2023, with which the bloc wants to increase the contribution of the agricultural sector to the fight against climate change and creates a new management model based on national strategic plans. The CAP reform process has taken three years of work between member states and European institutions.

unemployment spain

Spanish economy 2nd December 2021

Unemployment Recorded Its Best November In History, With 74,381 Fewer Unemployed People

The Social Security system gained 61,768 contributors with respect to October, bringing the total number of employed persons to 19,752,358 contributors. The number of people registered in the offices of the State Public Employment Service (SEPE) fell by 74,381 in November, the largest drop for that month, and for the first time in the historical series unemployment has fallen for nine consecutive months. According to the information provided by the…

Spain property

Spanish economy 2nd December 2021

Mortgage Signings In Spain Soar In September And Hit Decade Highs With 42,547 Loans For Home Purchases

Alphavalue | The average price of used housing in Spain rose by +0.8% month-on-month in November to 1,831 euros/m2, according to Idealista’s latest real estate price index. In the major capitals, the price increased by +0.3% in Barcelona and fell by the same amount in Madrid (-0.3%) compared to the previous month. If we look at the year-on-year figure, the national average price has increased by +3.5%: housing in the…

Turkey

European economy 1st December 2021

Turkey | GDP growth Reached 11.7% Year-To-Date

BBVA Reseacrh | Turkish economy grew by 7.4% yoy in 3Q21, resulting in a growth rate of 11.7% in the first three quarters of the year. 2021 GDP growth will likely reach 10.5-11%, beating our current 9.5% forecast. Though, recent currency shock and accompanying tighter financial conditions will likely weigh on the downside for 2022 growth. The quarter-on-quarter growth rate accelerated to 2.7% after growing by 1.5% in 2Q21. Domestic…

JoeBiden

World economy 30th November 2021

US President Biden Rejects The Need For Further Confinement This Winter

Biden said the most important factor in combating Omicron is getting vaccinations and booster shots.For its part, the Center for Infectious Diseases (CDC) changed its position on the latter shots on Monday, now recommending that Americans over the age of 18 receive an additional dose of vaccine. However, it will not be for another two weeks before there is a clear picture of the transmissibility and severity of Omicron, and…

ACS Vinci

Spanish economy 30th November 2021

ACS Sells Its Power Grids In Brazil To Its Partner Brookfield

ACS has reached an agreement with the Canadian fund to transfer its last two transmission lines in operation in Brazil, the so-called Giovanni Sanguinetti and Vereda, according to El Economista. These assets were left out of the sale of the industrial services business to France’s Vinci, a process that will be completed in December. ACS has agreed to transfer to Brookfield, its partner in electricity networks in Brazil, the 50%…

inditex marta y amancio

Spanish economy 30th November 2021

Marta Ortega Replaces Pablo Isla As Chairman Of Inditex

The Board of Directors of Inditex, at the initiative of its Chairman Pablo Isla and founder Amancio Ortega, and following the proposal of the Nomination Committee, has approved the appointment of Marta Ortega Pérez as Chairman of the Group. She will be a proprietary director, an appointment that will be effective as from 1 April 2022. On the other hand, Óscar García Maceiras, until now Secretary General and Secretary of…

Sabadell

Spanish economy 29th November 2021

Banco Sabadell mulls putting Barcelona corporate HQ on the market for over 100 M€

Alphavalue | Banco Sabadell (SAB) is mulling putting its Barcelona corporate headquarters (Torre Sabadell) on the market for over 100 million euros. The building is located in the intersection of Avenida Diagonal and Calle Balmes. Meanwhile, on Thursday December 2nd, the bank will inform employees who have asked to leave the entity whether their request to be part of the ERE has been accepted or not. That said, their leaving…