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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.

Companies 21st November 2025

Telefónica pays €1.464 billion for rights to Champions and Europa Leagues for four seasons

Renta 4 | Telefónica (TEF) acquires exclusive rights to the Champions League and Europa League for four seasons. Telefónica has been awarded exclusive broadcasting rights for the Champions League, Europa League, Youth League and Conference League for the 2027/28, 2028/29, 2029/30 and 2030/31 seasons. This award is subject to the formalisation of a contract with UEFA, which is expected to be finalised shortly. The price amounts to €1.464 billion or…

In Spain 21st November 2025

Supreme Court Convicts State Attorney General for Revelation of Secrets

Yesterday, the Supreme Court’s ruling was announced, condemning the Attorney General of the State, Álvaro García Ortiz, to two years of disqualification from office and the payment of a fine to the aggrieved party for “revelation of a secret.” The aggrieved party is González Amador, the romantic partner of the President of the Community of Madrid. The process has monopolized Spanish press headlines for months, featuring the unusual image of…

Companies 20th November 2025

Airbus launches second phase of share buyback programme for employee and compensation plans

CdM | Airbus (AIR) has launched the second phase of its share buyback programme announced on 8 September this year, aimed at supporting future employee share ownership plans and share-based compensation plans, the company reported on Thursday to the Spanish National Securities Market Commission (CNMV). The programme is being executed in several phases, on the open market, during a period ending on 16 January 2026, for a maximum of 4,140,000…

European economy, In Europe 20th November 2025

ECB says Eurozone current account surplus reaches in September €38.1 billion, compared to €43.5 billion in same month 2024

Link Securities | According to the European Central Bank (ECB), the Eurozone generated a current account surplus of €38.1 billion in September, compared to €43.5 billion in the same month of 2024. This decline was the result of a sharp drop in the primary income surplus, which fell to €800 million from €12 billion in September of the previous year. At the same time, the secondary income deficit increased to…

Companies 20th November 2025

Trump’s executive order to reduce tariffs on Canadian steel and aluminium would impact ArcelorMittal’s EBITDA by $300 million maximum

Renta 4 | Trump has signed an executive order that would allow the Department of Commerce to reduce tariffs on steel and aluminium from 50% to 25% for Canada, provided certain conditions are met. We recall that Trump imposed a 50% tariff on imports from Canada on 1 April. The impact of the tariffs is around $150 million/quarter at EBITDA level, although we believe that ArcelorMittal would be passing on…

Companies, Relevant News Item 20th November 2025

Banco Sabadell pays 300 shares promised to 14,000 employees if BBVA takeover bid failed

Link Securities | On Wednesday, the Catalan bank paid each of its employees 300 shares, as promised by management if BBVA’s takeover bid failed, according to the digital newspaper elEconomista.es. According to Europa Press, Sabadell has invested €13 million in the purchase of this remuneration package. The bank has 14,000 employees, mainly in Spain, the US and Mexico. The total package amounts to 4.2 million shares. Sabadell has confirmed that…

Companies 20th November 2025

Mexican group Asur outbids Aena for 20 airports in Brazil

Alphavalue / Divacons | The airport operator will have to look for other growth opportunities in Brazil, as the 20 airports that Motiva 8 (formerly CCR) had put up for sale have been awarded to the Mexican Airport Group (Asur) for 5 billion Brazilian reais (€809 million). The sale agreement was signed yesterday. Almost all of them are located in Brazil (17), although there are also airports in Ecuador, Costa…

In Spain 20th November 2025

Transition ministry calls for 7% remuneration for electricity networks, in line with industry demands

Banco Sabadell | According to press reports, the Ministry of Energy Transition, in its report on the CNMC’s proposal for the financial remuneration rate (TRF in its Spanish initials) for electricity networks, considers that the TRF should rise to just over 7% (against the announced 6.58%) due to the introduction of risk in investments. This consideration would be in line with the sector’s demands (7/7.5%), while also pointing out errors…

Companies 19th November 2025

Cirsa acquires 50% of Gran Casino de La Mamounia in Marrakesh

Alphavalue/ Divacons | The gaming company, through its subsidiary Cirsa International Business Corporation, has acquired 50% of the Grand Casino de La Mamounia in Marrakesh (Morocco), according to a statement released yesterday. The casino is located in the Hotel La Mamounia, one of the most renowned luxury establishments in Africa. This comes just two months after the agreement of intent to acquire four other establishments in Peru and the desire…

In the World 19th November 2025

ADP reports weekly job loss in US of 2,500 people in four weeks ending 1 November

Bankinter | On Tuesday, the ADP published an average weekly job loss of 2,500 people in the four weeks ending 1 November. These figures suggest that the labour market lost some momentum at the end of October, although the pace of job losses moderated in early November. Bankinter analysis team’s view: Negative data reflecting a slowdown in the labour market, although slightly improved from 11,250 people (weekly average) in the…

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