Top Stories

Articles by The Corner

About the Author

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.
spanish PM pedro sanchez

Spanish economy 28th July 2021

The Government Expects A Deficit Of 8.4% This Year

The Council of Ministers on Tuesday approved the non-financial spending limit, the ‘spending ceiling’, for the State Budget for 2022. This remains at 196.142 billion euros, in line with the figure recorded a year earlier, including extraordinary transfers to the Social Security (of 18.396 billion), to the autonomous communities, and part of the European funds. The government has also maintained its public deficit forecast of 8.4% of GDP for this…

Santander

Spanish economy 28th July 2021

Banco Santander Reports H1 2021 Attributable Profit Of €3.675 Billion

Revenues increased 8% and net operating income grew 13% on a constant currency basis. The group earned €22.7 billion in total income in the first half of 2021, up 8% year-on-year in constant euros(excluding currency movements). Net operating income grew by 13% year-on-year in constant euros to €12.3 billion, as lending and deposits increased by 2% and 4%, respectively, also in constant euros. Underlying profit in the first half nearly…

Spanish banks

Spanish economy 28th July 2021

More Provisions For Spanish Banks In The Coming Years?

Funcas believes that the Spanish banking sector would still have to make provisions amounting to 12,000 million euros in the income statements of 2021 and 2022, and expects an increase in doubtful credit between the end of 2022 and early 2023.Specifically, Funcas estimates that the “peak” of doubtful credit will be reached between the end of 2022 and the beginning of 2023, with a subsequent recovery, so that NPLs will be close to, but slightly above, pre-Covid-19 pandemic levels in 2024.

Commodities

World economy 27th July 2021

Commodities Had Their Best Quarterly Performance In A Decade

WisdomTree | The Bloomberg Commodity Total Return (BCOM TR) Index posted its third consecutive month of gains in June 2021, capping the quarter with a 13.3% q-o-q gain, the strongest since Q4 2010. Demand for commodities is rising as pandemic era restrictions are being lifted, while bottlenecks are providing supply challenges. Not all commodity sectors performed equally in the reporting month (which ended 16th July), with precious metals sliding 3.6%,…

TheRock

European politics 27th July 2021

Britain Walks Back Commitment to Gibraltar

Nick Ottens (Atlantic Sentinel) | It agreed to put Gibraltar in the Schengen Area to avoid the need for border controls… Did the British not read the fine print when they signed their Brexit deals? Not only do they regret agreeing to a lay a customs border down the Irish Sea to avoid the need for passport checks and inspections of goods on the Ireland-Northern Ireland border; they also have…

Ferrovial2

Spanish economy 27th July 2021

Ferrovial Sells Its Environment Business In Spain and Portugal To PreZero For 1.133 Bn Euros

Ferrovial’s Environment division recorded annual sales of 1.018 billion euros in 2020, gross operating profit of 130 million, including dividends, and had an order book of 2.177 billion at year-end. The company has a workforce of 16,000 employees and manages 140 recycling plants where it processes 5.6 million tonnes of waste each year. It also does street cleaning, selective collection and maintenance of green areas in more than 600 Spanish…

The hospital Isabel Zendal, one of the main vaccination centres in Madrid

Spanish economy 27th July 2021

Spain Is The European Country With The Highest Percentage Of People Vaccinated With All Doses

Vaccination against Covid-19 began in Spain exactly on December 27, 2020. Seven months later, the country has passed the milestone of 25 million immunized, and specifically as of July 22, the Spanish public health system has surpassed the United Kingdom (53.39%), the United States (48.28%), Germany (48.18%) and France (44.07%) in percentage of vaccinated population (54.32%) and is above the European average (36.79%), according to the Our World in Data ranking (University of Oxford). Also, Spain already occupies the second position in the ranking of the 5 countries with more than 10 million inhabitants that immunize the fastest, after Chile, which has managed to protect 62.19% of its population against the coronavirus.

madrid museo del prado 003

Spanish economy 26th July 2021

Madrid Finally Has A Site Inscribed As World Heritage: The ‘Landscape Of Light’

The ‘Landscape of Light’ in Madrid, which includes, the Paseo del Prado and the Retiro will be inscribed in 2021 as World Heritage by Unesco. The decision has been communicated in the 44th session of the World Heritage Committee of Unesco from China. It is the first time an urban green space had been nominated. With yesterday’s ‘yes’ the city manages to settle a historical debt because it is currently the only capital of Western Europe without any property inscribed as World Heritage.

vehicle re registration spain

Spanish economy 26th July 2021

Vehicle Production In Spain Falls By 18.1% YoY In June Due To Semiconductor Shortage

Intermoney | In June, vehicle production in Spain fell to 172,696 units produced, down 18.1% on last year’s levels and 33.8% when compared with data from two years ago, according to figures published Thursday by the manufacturers’ association, Anfac. In the accumulated first half of the year, the fall is 21.6% compared to pre-Covid levels of 2019, with 1.2Mn vehicles manufactured. According to Anfac, the fall is due to the…

Ebro Foods's CEO

Spanish economy 26th July 2021

Ebro Foods Sells Panzani For 550 Million Euro To CVC Capital Partners VIII

Ebro Foods has received a binding offer from CVC Capital Partners VIII and has decided to grant the latter exclusive right to sell the Panzani® dry pasta, semolina, couscous and sauces business. The transaction is subject to information and consultation with employee representatives in France, regulatory approvals and approval by EBRO’s General Meeting of Shareholders. The transaction would materialise through the sale of 100% of the share capital of Panzani…