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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.
Talgo Vittal One

Spanish economy 6th August 2021

‘Talgo Vittal-One’ , A Spanish Train Powered By Hydrogen To Reduce Carbon Footprint

Portocolom AV | Spanish railway company Talgo is working on an innovative hydrogen train with the aim of replacing diesel-powered locomotives by 2023. With these new engines the company would replace diesel-powered ones in commuter trains and medium-distance trains, and thus take a step further on the way to climate neutrality, which Spain aims to achieve in 2050. The railway company is developing at its Rivabellosa plant in Alava the first units that will be powered by green hydrogen fuel cells supplied by Repsol. The two companies have recently signed an alliance to develop machines powered by this energy.

stellantis

Spanish economy 5th August 2021

Stellantis, The Only Manufacturer Producing 100% Electric Cars At All Three Spanish Plants

ICEX- Invest in Spain | Stellantis is the only manufacturer that produces 100% electric cars at each of its three Spanish plants: Peugeot e-2008 (Vigo), Citroën ë-C4 (Madrid) and Opel Corsa-e (Zaragoza). With more than six decades of experience in the production of commercial vehicles and a pioneer in the field of electric mobility, the Italian-French-United States international automotive group has now launched a new generation of 100% electric commercial and multipurpose vehicles, produced in Vigo.

exports spanish2

Spanish economy 4th August 2021

The Competitiveness Of The Spanish Foreign Sector: Where It Is Now And Where It Is Heading

Luís Pinheiro de Matos (CaixaBank Research | The pandemic has been felt in all sectors of the economy, particularly in tourism services, a key sector for the Spanish economy. Nevertheless, the foreign sector held up very well in the face of an unprecedented shock, and despite not having this traditional contribution the current account managed to maintain a surplus. The starting point for rebuilding a path of sustainable growth is better than one might have expected. Focusing on the balance of goods in 2020, a year with a historic fall of 10.8% of GDP, Spanish exports of non-energy goods fell by 8.3%, but managed to remain above 250 billion euros (around 22% of GDP) for the fourth consecutive year.

Bankinter

Spanish economy 3rd August 2021

Only Bankinter Exceeds The Average Capital Ratio Of European Banks, 11.2% Compared To 10.2%

Banca March | European banks have passed the stress tests with good marks. In Spain, the ratio is slightly below the average, at 8.95%. Of the four domestic institutions analyzed, only Bankinter with a ratio of 11.2% exceeded the European average. Santander’s ratio was 9.3% and BBVA’s was 8.7%. The worst performance was that of Banco Sabadell with a ratio of 6.5%, ahead only of Italy’s Monte dei Paschi and HSBC.

coltan

Spanish economy 2nd August 2021

The Only Coltan Mine In Europe Is Located In Spain

Coltan is an essential raw material for the microelectronics, telecommunications, aerospace and biomedical industries. Although it may appear to be just one mineral , coltan is the combination of two, columbite and tantalite. In fact, the term itself “coltan” comes from the fusion of the two words. Basically, it is a mineral which is concentrated in the Republic of Congo, where 80 % of the reserves are found. In Europe there is only one mine where this material is extracted: A Penouta, an old tin mine located in Orense (Spain).

climatecrisis

Relevant News Item 1st August 2021

Next Big Financial Crisis Could Be Triggered By Climate Change – Central Banks Can Prevent It

Garth Heutel, Givi Melkadze & Stefano Carattini via The Conversation | In 2008, as big banks began failing across Wall Street and the housing and stock markets crashed, the nation saw how crucial financial regulation is for economic stability – and how quickly the consequences can cascade through the economy when regulators are asleep at the wheel. Today, there’s another looming economic risk: climate change. Once again, how much it harms economies will depend a lot on how financial regulators and central banks react.

eu human rights

European politics 31st July 2021

Could Nuance Make the European Parliament a More Effective Human Rights Champion?

European Views | In hosting the first-ever Global State of Human Rights conference a couple of weeks ago, the European Parliament clearly signalled that it sees itself at the vanguard of promoting the rule of law, both inside and outside the bloc. Indeed, at the last plenary session alone, the Parliament adopted resolutions on the democratic crisis in Nicaragua, the repression of the opposition in Turkey, Saudi Arabia’s use of the death penalty, press freedom in Hong Kong, political prisoners in Iran, and the rights of Hungary’s LGBT citizens.

Repsol

Relevant News Item 30th July 2021

Repsol Reports Net Income Of €1.235 Billion For First Half 2021

In this period, the company has advanced in the decarbonisation objectives laid out in its 2021–2025 Strategic Plan. The plan and related actions have enabled the company to benefit from the incipient recovery in demand, still below 2019 levels, and the improvements in raw material prices. As a result, Repsol was obtain positive cash flow in all business segments and a net debt reduction of 6%. Adjusted net income, specifically…

employed spain

Spanish economy 30th July 2021

Spain Creates 464,900 Jobs In Second Quarter 2021

The 2Q 2021 unemployment rate stood at 15.26% against 15.98% in the previous quarter, according to data released today by Spain’s National Statistics Institute. The activity rate improves to 58.6% quarter-on-quarter. On the other hand, the number of jobless people decreases to 3.5 M (-3% q/q), while the number of employed people increases by +464,900 to 19.7M (+2.4%).

Acciona Energia

Spanish economy 29th July 2021

Acciona Energía Signs Its First International Joint-Venture As A Listed Company

Acciona’s renewables division has been listed on the stock exchange for less than a month (its debut on the trading market was on July 1) and has already announced its first international deal. Acciona Energía and SSE Renewables have agreed to explore offshore wind opportunities in Poland as the country seeks to progress the deployment of around 6GW of offshore wind energy by the end of the decade. For that purpose, both companies, who are already cooperating on the exploration of offshore wind opportunities in Spain and Portugal, have now signed a Memorandum of Understanding (MoU) in order to formalize a 50/50 joint venture for the Polish market.