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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.
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…

Spanish banks 's 2Q18 results season will start on July 25th

Spanish economy 28th May 2021

Spanish Banks Lag Behind: Q4’20 Deficit Of €7.336 Bn Compared Average Of €39.6 Bn For The Banking Union

Alphavalue | Spanish banks recorded a shortfall of 7,336 million euros in 4Q20, equivalent to 0.94%, compared to the target for their minimum requirements for own funds and eligible liabilities of 29.10% of risk-weighted assets, set on average for the sector in Spain by 2024 by the SRB. These figures leave Spanish banks lagging behind the Banking Union as a whole, whose average shortfall was 0.58% or 39,604 euros million in 4Q20 with respect to the MREL target.

Catalonia referendum

Spanish Politics 27th May 2021

The Supreme Court Rejects The Pardon For The 12 Catalan Coup Perpetrators And Says “It is an Unacceptable Solution”

The fact that Pedro Sánchez needs the support of ERC (the party of many of the Catalan politicians imprisoned for sedition) to stay in government, prevents the Prime Minister’s argument from being heeded: “Revenge is not a constitutional value,” he says. The 12 imprisoned pro-independence politicians have refused to request a pardon and have publicly reiterated they would be willing to call an illegal referendum like the one on October,…

Casablanca Platform

Spanish economy 27th May 2021

With The Closing Of The Casablanca Oil Platform, Spain Ends Almost 60 Years Of Oil Production

Repsol will stop producing oil in mid-June at ‘Casablanca’, the last oil platform in Spain located in the waters around the coast of Tarragona. The new Spanish Climate Change and Energy Transition Law contemplates that Spain will no longer grant new exploration authorisations, so this shutdown of Casablanca is a step towards this purpose. In 2018, the hydrocarbon field of La Lora in Burgos, the oldest oil field in Spain operating since 1964, was already forced to close.

bank generico

European economy 26th May 2021

AT1 CoCos Shine Amid Rising Treasury Yields

As sentiment around banks improves, and the prospect of interest rates to rise it’s become increasingly difficult to disregard the potential of AT1 CoCos. Its history of providing portfolios with some cushion in a rising rate environment is sure to be an attractive proposition for investors.

Sanchez

Spanish economy 26th May 2021

Spain | Green Hydrogen In The Recovery Plan

Pedro Sánchez, took part in the presentation for the business project that will, this year, begin constructing a giant factory in Guadalajara. Every kg of green H2 that replaces a fossil one will avoid 9 kg of CO2 in the atmosphere.

Repsol biofuel

European economy 26th May 2021

The Aviation Industry: Five Reasons For Resilience

Capital Group | Last year was a truly awful time for global aviation. The COVID-19 pandemic brought about the biggest disruption to the global aviation industry in its entire history. Nevertheless, despite the magnitude of events, there are several reasons why some sectors within aviation, such as aircraft manufacturing, may be more resilient than they have been in the past.

J.Yellen

World economy 25th May 2021

G7 May Back 15% Minimum Corporate Tax Rate Next Week

US Treasury Secretary Janet Yellen will attend the G7 summit in London next week (4-5 June) with the idea of pushing for agreement on a global minimum corporate tax rate. The US authorities would be willing to accept a global minimum corporate tax rate of 15%, instead of the 21% they had previously advocated, in order to facilitate the agreement. This US decision may already precipitate an agreement at G7…

pensions spain

Spanish economy 25th May 2021

Spain: Spending On Pensions Rises 3% In May To A Record 10.154 Million Euros

The Social Security allocated 10.154 million euros to the payment of contributory pensions in May. This is a record figure which is 3% higher than a year earlier, the Ministry of Inclusion, Social Security and Migration reported on Tuesday. More than two-thirds of the pension payroll went to retirement pensions, which totalled 7.303 million euros, 3.6% more than in May last year. Widows’ and widowers’ pensions were allocated 1.74 million…

ibex chulisima

Spanish economy 25th May 2021

Foreign Investors Hold 57% Of The Ibex 35

The Bank of Spain’s statistics on the balances, by holders, of Ibex 35 stocks were released today. Foreign investors held 57.21% of the value of Ibex 35 shares at end-March this year, slightly more than the 56.5% they held a year earlier. The value of their holdings amounted to 312.547 billion euros. According to data from the Bank of Spain, households own 14.2% of Ibex 35 shares, some 77 billion…