Articles by The Corner

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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.
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Expected 2026 catalysts to reduce uncertainty for Enagás

Renta 4 | Focuses on growth in Spain and Europe, with assets in Latin America (total equity R4e €602 million) likely to be divested in the short/medium term, as they are considered non-strategic. Long-term growth opportunity lies in the development of the European hydrogen market: 1) Spanish trunk network (investment of €2.65 billion, regulated business, 20% subsidy), and 2) international interconnections (€330 million, with France unregulated with no volume risk…


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EMA approves manufacture and distribution of plasma by Grifols Egypt

Link Securities | Spanish pharmaceutical company Grifols (GRF) reported on Tuesday that on 11 December 2025, the European Medicines Agency (EMA) had issued a Certificate of Compliance with EU legislation for plasma supplied by Grifols Egypt for Plasma Derivatives (GEPD), the joint venture established in 2020 between Grifols and Egypt’s National Service Projects Organisation. This certification was granted following a quality inspection of the plasma centres owned by GEPD and…


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Telefónica reduces impact of redundancy plan by additional 5%

Alphavalue/Divacons | On Tuesday, the Spanish telecommunications company communicated its final proposal for the redundancy plan affecting Telefónica Global Solutions, Telefónica Innovación Digital and Telefónica S.A. to the UGT and CCOO trade unions. In this final offer, the operator has proposed reducing the impact of the collective redundancy by an additional 5%, bringing the total adjustment to 20% in these three subsidiaries. This measure represents a decrease in the number…


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Iberdrola and Microsoft deepen collaboration on energy and artificial intelligence projects

Link Securities | Spanish electricity company Iberdrola (IBE) announced on Tuesday a partnership with Microsoft to deepen their collaboration on energy and artificial intelligence projects. The partnership builds on the success of previous initiatives and includes the signing of two long-term power purchase agreements (PPAs) in Spain, the first that both companies have signed in Europe. The agreement envisages expanding the use of Microsoft’s Azure computing and cloud platform, the…


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Absenteeism Skyrockets in Spain: 1.2 Million People Miss Work Daily

The Círculo de Empresarios (Circle of Businessmen) reports that nearly 1.2 million people are absent from their jobs every day, representing a cost to Spain that could now reach up to 5.4% of GDP. The primary driver of this increase is absences due to temporary disability (incapacidad temporal). “The rise in absenteeism is eroding business competitiveness and generating a growing cost for the economy as a whole. It is essential…


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EIB Group helps BBVA mobilise around €1.3 billion to finance SMEs, mid-caps, and sustainable housing projects

Alphavalue / Divacons | The EIB Group (comprising the European Investment Bank and the European Investment Fund) invested more than €714 million in two BBVA securitisation transactions, enabling the bank to mobilise around €1.3 billion to finance Spanish SMEs, mid-caps and entrepreneurs, as well as sustainable housing projects. The first is a securitisation of a consumer loan portfolio of approximately €1.1 billion in financing, enabling companies to address their liquidity…


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Tankan index, measuring confidence of large Japanese manufacturing companies, improves despite weak economic growth

Bankinter | The Tankan index, which measures the confidence of large manufacturing companies, improves to 15 points in Q4 2025 (compared to the expected 15 and the previous 14). In the case of Services, it fell slightly to 34 points, in line with expectations (compared to 35 expected and 34 previously). Small manufacturing companies also improved somewhat compared to the previous quarter and recorded better-than-expected figures (6 compared to 2…


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Retail sales in China grow 1.3% year-on-year in November, lowest rate since pandemic

Link Securities | According to data from China’s National Bureau of Statistics, retail sales in China grew by 1.3% year-on-year in November (2.9% in October), the lowest rate since the COVID-19 pandemic. The reading was below the 2.9% expected by the FactSet analyst consensus. There was a sharp 19.4% drop in sales of household appliances during the month. Car sales also declined, and sales of essential goods fell slightly. In…


metro nueva york

Empire State Manufacturing Index enters contraction territory in December, falling to -3.9 points against 18.7 in November

Bankinter | Empire Manufacturing (December) below expectations: -3.9 compared to +10.0 expected and +18.7 previously. The indicator, which surveys 200 executives in the manufacturing sector in New York State, is below expectations and enters contraction territory (<0), affected by the fall in New Orders. With regard to prices, the components of prices paid and prices charged declined, pointing to an improvement in inflationary pressures. Also on the positive side, the…


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Acciona Energía to build two new wind farms in South Africa with 194 MW combined capacity, owning 51% of each

Link Securities | The renewable energy company announced that it will begin construction of two new wind farms in South Africa in the coming weeks, with a total capacity of 194 MW. The energy generated by both projects – Zen and Bergriver – will be supplied to Etana Energy, one of the country’s leading energy traders, for the first 20 years of operation. Located between Gouda and Saron in the…