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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.
Inditex

Spanish economy 15th November 2021

Inditex’s Owner Enters Renewables Business In Partnership With Repsol

The Spanish oil company has announced an agreement with Pontegadea, Amancio Ortega’s investment company, to partner in its first operational wind farm in Spain, representing the investment group’ first renewables deal. Specifically, Pontegadea will invest 245 million euros to take 49% of the Delta wind farm, valued at 500 million, a project with an installed capacity of 335 MW located in the province of Zaragoza (Spain). The remaining 51% of…

Spanish Banks coronacrisis

Spanish economy 14th November 2021

Spanish Bank Financing Of Oil And Gas Projects, Incompatible With The Paris Agreement

CdM | Despite adhering to international initiatives, since 2016, the top 60 banks worldwide have dedicated a total amount of $3.8 trillion to fossil fuels.  The financing of fossil fuel projects and companies results in GHG emissions incompatible with the economic decarbonisation needed to limit global warming to around 1.5ºC. In the case of Spanish banks, Bankia, Bankinter, BBVA, CaixaBank, Banco Sabadell and Banco Santander have signed up to this…

The weight of investment in intangible assets draws attention in modern world

Relevant News Item 13th November 2021

Digital Asset Networks Are Like Train Lines

Digital asset networks are like railway lines. They share the same need for interoperability and developers are working on solutions. The networks that are able to create ‘bridges’ and ‘speak’ to one another will ultimately deliver greater utility to their users – and thus create greater value.

Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

Spanish economy 12th November 2021

Spain Not To Reach Pre-Pandemic GDP Level Until Q1’23 VS Germany, France And Italy At End-2022

The European Commission estimates that the Spanish economy will grow by 4.6% in 2021, which represents a cut of 1.6 % compared to the estimate it made in July. According to these calculations, Spain will be the last of the four large euro economies to recover its pre-crisis GDP level. These data contrast with the optimism of the government, which sees a rise in GDP of 6.5% this year and an expansion of 7% a year later.

The EU should dismantle Facebook

World economy 11th November 2021

Three Ways US Congress Could Hold Facebook Accountable For Its Actions

The Conversation | Facebook may have changed its corporate name to Meta Platforms, but that won’t end its troubles – nor efforts to rein in the social media company’s business practices. Lawmakers are pondering new ways to regulate Facebook, whose CEO, Mark Zuckerberg, wrote in 2019 that he welcomed new “rules governing the internet.” With that in mind, we asked three experts on social media, technology policy and global business to offer one specific action the government could take about Meta’s Facebook service.

companies' profitability

European economy 10th November 2021

Foreign Subsidiaries Account For 10% Of Employment In Spain

The number of companies with foreign parent companies in Spain amounts to 19,675, according to the study carried out by Informa D&B (a subsidiary company of Cesce), leader in the provision of Commercial, Financial, Sectorial and Marketing Information. This figure represents only 1.38% of the country’s business network as a whole, but they sell more than 215,000 million euros, 17% of the total turnover. In terms of the number of…

madrid museo del prado 003

Spanish economy 9th November 2021

Hotel Recovery Consolidates In Spain As Madrid And Barcelona Exceed 2019 Booking Figures

For the first time since the start of the Covid-19 pandemic, Spain’s two largest cities, Barcelona and Madrid, have generated more hotel bookings than during the same period two years ago, reaching 111.68% and 102.03% of 2019 figures respectively, as of 24 October 2021, SiteMinder’s World Hotel Index reveals. These figures show the strength of Spanish destinations, beyond the coastal cities of sun and beach tourism, where travellers have already…

unemployment spain

Spanish economy 8th November 2021

Repeal of Spanish Labor Reform Is Unwise

Nick Ottens (Atlantic Sentinel) | Spain’s ruling left-wing parties have agreed to reverse the labor market liberalizations of the previous conservative government, which made it easier for firms to hire and fire workers. The decision is hard to justify even by the standards set by proponents of repeal. The reforms did not create more precarious jobs, they did not cause higher structural unemployment and they barely made a dent in…

santander bitcoin

Spanish economy 8th November 2021

Santander Joins The Blockchain Revolution With Bitcoin-Linked Funds

Fernando Alberca | Santander does not want to miss out on the bitcoin boom and other cryptographic projects either. The Spanish bank is finally betting on the Blockchain revolution through funds referenced to bitcoin and, perhaps, to other major cryptocurrencies. These ETFs will most likely be futures ETFs, which does not involve buying bitcoin or cryptocurrencies, to back the fund, in the style of the two ETFs (ProShares and Valkyrie)…