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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.
european electricity market

Spanish economy 27th September 2021

The EC Rules Out Major Regulatory Actions To Combat Pricing System; Spain Is The Only Country To Tackle This

The Spanish government sent a letter last week to the European Commission, in which it urged the region to adopt a common response to the electricity problem at the European level. The letter called for a reform of the wholesale electricity market and the creation of a European gas purchasing platform and strategic reserves. However, the institution dismissed Spain’s request. It will limit itself to guiding member states on measures to temporarily reduce the electricity bill within the margins of EU regulations.

Today’s German election is likely to be one of the most open contests in decades

Relevant News Item 26th September 2021

Germany After Merkel: What’s Next?

Azad Zangana (Schroders) | Today’s is a major milestone election for Germany, and many will be keeping a close eye on the outcome. In any case, though we should see the results soon, negotiations to form the next coalition are likely to take several months given the potential wide range of combinations on offer. The new chancellor may not be inaugurated before 2022.

An ammonia storage facility

World economy 25th September 2021

Ammonia, Not Just A Question Of Colours

Mirabaud | When electricity needs to be produced, the cheapest energy sources are used first: wind, solar and hydro. If they are not available, more expensive energies are added: lignite, nuclear, coal, gas and,finally,green ammonia.
You may ask, rightly, what green ammonia has to do with this list of energies. Scientists recently discovered a potentially revolutionary feature of ammonia by using it as an energy source.

Goldman Sachs 1

Spanish economy 24th September 2021

Vinos García Carrión Claims €75 Million From Goldman Sachs

According to a report by Javier Romera in the newspaper El Economista, the Murcian wine company is going to request the appearance of John Waldron, President and Chief Operating Officer of the group worldwide, David Salomon, CEO worldwide, Alvaro del Castaño, General Manager in Spain, and Jaime Suarez, Executive Director of Corporate Derivatives, before the Court of Instruction number 2 of Jumilla (Murcia). They are to testify about the execution…

Catalonia independence declaration

European politics 24th September 2021

Italy Arrests Puigdemont In Sardinia, A Fugitive From Justice Since 2017

Last night the Italian authorities arrested in Sardinia the former president of the Catalan Government Carles Puigdemont, a fugitive from justice since 2017. The Catalan leader, who as soon as he was arrested was taken to the police station at the city’s airport, was wanted on the basis of a warrant issued by the Supreme Court. Puigdemont had travelled from Brussels to take part in the Aplec Internacional Adifolk, an…

salaries spainTC

Spanish economy 24th September 2021

Spain’s Final Q2’21 GDP Marks A Year-On-Year Increase Of 17.5%, Still Below Estimates Of 19.8%

According to National Institute of Statistics, Spanish GDP registered a rise of 1.1% in the second quarter of 2021 with respect to the previous quarter in volume terms. This rate is 1.7 points higher than that recorded in the first quarter and 1.7 points lower than that reported on 30 July. The year-on-year change in GDP stands at 17.5%, compared with -4.2% in the previous quarter. This rate is 2.3 points lower than that recorded on 30 July.

The security of the UK’s LNG supply is precarious

European economy 23rd September 2021

Gas Price Spike: How UK Government Failures Made A Global Crisis Worse

Michael Bradshow ( The Conversation) | The UK government has been in emergency talks with leaders from the energy industry as gas prices (and with them, electricity prices) have soared to more than four times the level they were at the same time in 2020. Concerns are growing about the security of winter gas supplies, and industries reliant on gas, such as the fertiliser industry, are curtailing production, threatening various…

Renfe

Spanish economy 22nd September 2021

Renfe Denounces Obstacles In France And Calls For The Same Treatment SNCF Enjoys In Spain

José Alves (Capital Madrid) | France is experiencing a historic moment in its rail industry: the beginning of the end of the national public service monopoly for passenger transport. Since the nationalisation of the network (1937) this has been in the hands of the state-owned SNCF. The government had announced this, as required by the EU, but it will be another three and a half years before the decision taken…

spain housing market special

Spanish economy 22nd September 2021

Turkey Leads House Price Rises During The Pandemic With +29%, While Spain And India Are The Only Markets To Record Declines

According to the consultancy firm Knight Frank, which in its Global House Price Index has analysed the evolution of prices in 55 countries from 1Q20 to last spring 2021, in the USA, New Zealand, Canada, Australia, Luxembourg and Sweden housing has risen by more than +15%, above the average (+9.2%). Turkey leads the ranking with an increase of +29%. Spain is the market with the biggest fall in the global ranking, with a decrease of 0.9%. India is the other lagging country in the list, with a 0.5% decline.

MerkelScholz

European politics 21st September 2021

German Election Guide

Nick Ottens (Atlantic Sentinel) | Germans elect a new Bundestag on Sunday, which will elect Angela Merkel’s successor. It is the first time since 1983 that a sitting chancellor isn’t seeking reelection. If the polls are right, Merkel’s center-right Christian Democrats will lose power to the center-left Social Democrats for the first time since 2005. Here is everything you need to know. Bottom lines The Social Democrats (SPD) are projected…