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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.
hidraulica 1

Spanish economy 2nd June 2021

Spanish Utilities To Lose €800-1Bn With The Cut In Windfall Profits, 5% Of Their EBITDA

On Tuesday, the Ministry for Ecological Transition presented a draft bill to the Council of Ministers to put an end to windfall profits, i.e. to put an end to the over-remuneration of nuclear and hydroelectric power in order to reduce consumers’ electricity bills, which have risen considerably, among other things, due to the increase in CO2 emissions.According to government sources, the proposal would respect the European regulatory framework (where there should be no discrimination by technology) and would be similar to that existing between 2006/2009, with the reduction of a part of the CO2 “dividend” to non-emitting plants prior to 2005 that sell energy on the market.

PedroSanchezOCDE

Spanish economy 1st June 2021

In The OECD, Only Iceland And Mexico Will Take Longer Than Spain (Three And A Half Years) To Recover From The Crisis

According to the Organisation for Economic Co-operation and Development (OECD), Spain’s Gross Domestic Product (GDP) will grow by 5.9% in 2021 (5.7%; previous estimate), and by 6.3% in 2022 (4.8%; previous estimate). Thus, it will take three and a half years for Spain to recover its pre-crisis level of GDP per capita. Only Iceland and Mexico, of the 38 OECD member states, will take longer to recover it.

airbus satafi

Spanish economy 1st June 2021

Airbus Transforms Its Madrid’s Plant In The City Of Getafe Into Europe’s Third Largest Aerospace Facility

The European aerospace group Airbus has established its third largest industrial complex in Madrid, specifically Getafe, a city at the south of the region, becoming the company’s third centre after Toulouse and Hamburg. This involves an expansion of the Getafe centre – now renamed Campus Futura – which concentrates activities for the design, manufacture and assembly of electronic structures and equipment for space systems and civil and military aircraft.

Ibex

European economy 31st May 2021

Good Company, Bad Investment: The thinking Behind Investor Decisions

Ricardo Jimenez (Sigma Rocket) | The average holding period of a stock has been dropping for many years – and in 2020 it hit a new low. A study by Reuters of NYSE companies found the average holding period is now five and a half months, compared with 14 months in 1999 and five years in the far-away 1970s. Over recent years, falling brokerage fees and higher volatility have accelerated the short-termism of investors.

Net wealth of European households lost in the crisis recovered; now is over seven times disposable income

Spanish economy 31st May 2021

The Pandemic Cuts Household Income By 3.3% And Companies’ Gross Operating Surplus By 18%

The impact of the pandemic on household accounts has been more moderate than that suffered by companies because most of the protective measures implemented by the government have been aimed at the former. In this respect, analysts at Funcas explain that the decline in the gross disposable income of households in 2020 was 3.3%, lower than that of GDP (-10.8%) and consumption (-12%). Meanwhile, the gross operating surplus of companies fell by 18%, the biggest drop in the entire historical series, and their gross disposable income fell by 17%.

paro empleo

Spanish Politics 30th May 2021

The OECD Makes A Full Amendment To The Approaches Of The Spanish Ministry Of Labour

The Secretary General of the OECD, Ángel Gurría, yesterday presented the “Economic Survey of Spain 2021” together with the Vice-President for Economic Affairs, Nadia Calviño. The document is an amendment to the labour policy proposed by the Spanish government in its entirety. It warns of the high impact of the coronavirus crisis on the Spanish economy and rejects a tax hike until the economic recovery is consolidated. It also asks…

Do we need a universal basic income?

World economy 30th May 2021

Support Is Growing For A Universal Basic Income

Guy Standing via The Conversation | Wales has become the latest country to explore the idea of a universal basic income, which gives every adult a fixed amount of money, regardless of their employment status.Since COVID-19, there has been a global surge in support too. In the USA, Los Angeles has become the latest city to launch an experiment, and there have been trials in Canada, South Korea and Kenya. In Europe, a poll last year, covering France, Germany, Italy, Poland, Portugal and Spain, found that more than two-thirds of people were in favour of a basic income.

office property

European economy 29th May 2021

European Office Property: Does More Remote Working Mean Evolution Or Revolution?

Rigel Patricia Scheller (Scope Ratings) | Restricting people to their homes to contain the Covid-19 pandemic has changed how they shop, socialise, study and work. Some changes may prove long term, with far-reaching repercussions for real estate. The severity of the impact on office property is less clear.The Covid-19 impact on office space could markedly diverge across different parts of Europe. While the repercussions in some countries might be limited due to pre-pandemic remote-working trends, the impact might be stronger in countries with significant office space under construction, more pronounced vacancies and lower prevalence of home working before the pandemic started.

Spanish PSOE

Spanish Politics 28th May 2021

Revolt In The PSOE Over The Pardons Sánchez Wants To Grant The Catalan Independence Supporters To Secure His Government

Within the PSOE itself, critical voices are growing against the pardons that the government intends to grant to the Catalan coup plotters to ensure its continuity. The president of the Junta de Extremadura, the socialist Guillermo Fernández Vara, explained on Wednesday that “it is clear” that “those who do not want to be pardoned should not be pardoned, since they do not respect or believe in the laws that make…