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.
BBVA Holvi

BBVA Announces Some Proposals For Its 2021 Shareholder Remuneration Policy

Banca March | BBVA yesterday partially clarified its dividend policy for 2021 which it will present at its General Shareholders’ Meeting. The bank announced it will consider distributing a cash dividend of up to 35% of the group’s profit for the first half of the year, without taking into account extraordinary items. This dividend would be paid in October and would be conditional on the ECB lifting the 15% restriction on the sector until October.


intangibles

Investment In Intangibles In Spain Stands At Around 6.5% Against 7% In Germany And 12% In The US

Claudia Canals and Oriol Carreras Baquer (Caixabank)| Given the importance of investment in intangibles for boosting the digital transition, we wonder what impact NGEU will have on this type of investment. To answer this question, first we estimate the average increase in the relative weight of investment in intangibles as a proportion of GDP in Spain between 1995 and 2017. We then measure the impact that NGEU will have on investment in intangibles, considering in the calculation the carry-over effect that this programme could have on private investment.


bond vigilantes

Are The Bond Vigilantes Back?

Portcolom AV | In the 1980s, “bond vigilantes” began to be referred to as the watchdogs of the economy. It was said that if the monetary and fiscal authorities did not regulate the economy properly, bond investors would. So if a central bank, for example, lagged in its monetary policies, the watchers would force it to act through pressure on bond market prices. Will the bond vigilantes return considering the attitude of central banks and governments in the face of rising inflation?


FelipeVIOk

Felipe VI Will Be Vaccinated… When It Is His Turn (*)

T. C.| “Spaniards are peculiar, they want to live like Americans but they think like Cubans” explained a USA ambassador on leaving Madrid. And he was right. So nobody can find it strange that finally a group of “Bolivarians” are part of the Government of Spain. People who, a short while ago, used to denounce the Spanish political caste and now have made their leader’s wife a Cabinet minister; without anybody batting an eyelash.


ibex 35

Analysts Cut Their Profit Forecasts For Ibex Companies By 30% In 2022, Says The Bank Of Spain

The upturn in expected profits in 2022 for listed companies in Europe and Spain began in November, after the announcement of effective vaccines against the virus. Since then the improvement in expectations for the coming year has been “relatively modest”. Specifically, analysts forecast that profit expectations for Ibex firms in 2022 will be 30% below those expected in February 2020, although they also expect the negative impact of the pandemic on the profits of listed companies in 2022 to be lower than in 2021, according to the Bank of Spain.


Tesla Q4 deliveries

Beyond Tesla: Electric Cars Shift Into The Fast Lane

Kaitlyn Murphy , Wenjie Ge & Chris Buchbinder (Capital Group) | Ladies and gentlemen, start your batteries. Sure, we’ve been hearing about the advent of the electric car for a long time. But evidence is mounting that it has already arrived — ahead of schedule. Consider this: General Motors announced in January that it will stop manufacturing gas- and diesel-powered cars by 2035. This after Volkswagen, Europe’s largest automaker, disclosed plans to invest $86 billion to develop electric vehicles, digital factories and self-driving cars over the next five years.


US american rescue 1

The US Delivers $1.9 Trillion Jolt Of Economic Relief: 4 Essential Reads

Bryan Keogh via The Conversation| The U.S. economy and millions of people struggling because of the pandemic are about to get a US$1.9 trillion jolt of stimulating relief. On March 10, the House of Representatives approved a version of President Joe Biden’s coronavirus package that barely squeezed through the Senate. Both votes were almost entirely along party lines. Biden signed the bill into law on March 11.  We turned to our archive to provide some context on this historic legislation. 


bank spain

Spanish Banks’ Debt With The ECB Doubles In One Year

Spanish banks’ debt with the European Central Bank, which reflects their gross demand of the institution’s regular financing operations, did not show any change in February and remained unchanged at 261.21 billion euros, exactly the same as a month earlier. However, according to Bank of Spain data reported by Europa Press, the increase is 100.24% compared to the same month of the previous year.


rural spain

Telefonica, Orange And Vodafone To Develop Joint Networks In Rural Areas With EU Reconstruction Funds

The telecom operators Movistar, Orange and Vodafone have agreed to form an alliance to bid together for the deployment of 4G and 5G mobile networks in rural areas that will be financed with European reconstruction funds. Specifically, Movistar, Vodafone and Orange would build between 3,000 and 4,500 new radio sites, adding an extra 15% and 23% to the existing ones. 


ECB Eurosystem

ECB Meets Expectations And Ramps Up Near-Term PEPP Purchases

Monex Europe | With the entire Governing Council agreeing to increase the PEPP purchase pace, yesterday’s message may be more dovish than what markets initially expected, but the ECB continues to leave markets in the dark with regards to their exact reaction function and tolerance towards higher yields. Regarding last week’s data, President Lagarde stresses the impact the large number of redemptions had on putting a cap on net purchases.