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Articles by The Corner

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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.
heathrow arrivals

Ibex, Markets, Spanish economy 15th February 2021

Ferrovial Negotiates An Urgent Plan With The UK To Save Heathrow

Heathrow Airport Limited is controlled by a consortium led by Ferrovial with a 25% stake, Qatar Investment (20% of the capital), Caisse du Quebec (12.62%) and Singapore’s GIC fund (11.2%). The partners have already activated new urgent lines of financing for a total of 850 million euros. Heathrow wants to increase prices, and the regulatory body (CAA) is receptive to the request. But it wants the dividend cut to shareholders to be extended.

Catalonia PSC wins

Spanish economy 15th February 2021

The Catalan Dilemma Is Not Yet Solved

Before the pandemic, practically everything in Spain, economy, politics, social coexistence, revolved around the Catalan dilemma. It was expected that elections in Catalonia would clarify the region’s political future and bring some stability to the Spanish political scene. However, the results of the regional elections held yesterday failed to clear up the doubts of the last decade. The most voted party was the Socialist, but the sum of the Catalan separatist parties has obtained enough seats to form a government.

paro empleo

Spanish economy, Spanish Politics 15th February 2021

Employment In Spain Holds Up This time, But Duality In The Labour Market Continues To Wreak Havoc

Josep Mestres Domènech (CaixaBank Research)| In times of crisis, the reduction in employment traditionally occurred in Spain through a significant destruction of jobs, while in periods of expansion job creation was rapid. This has not been the case in this crisis. For the first time, the declines in GDP have been accompanied by a much smaller reduction in employment. This is not only due to the unique nature of this crisis, which originated in the health sphere, but also due to a very different response from economic policy.

vaccine2021

In the World, World economy 14th February 2021

The $4 Trillion Economic Cost Of Not Vaccinating The Entire World

Sebnem Kalemli-Ozcan (The Conversation) | Rolling out a vaccine to stop the spread of a global pandemic doesn’t come cheap. Billions of dollars have been spent developing drugs and putting in place a program to get those drugs into people’s arms. But amid an uneven distribution of vaccines – with poorer countries lagging far behind richer nations – another concern presents itself: the cost of not vaccinating everyone. My colleagues and I sought to find out what the total hit to the global economy of uneven vaccination distribution might be.

city of london

European economy 13th February 2021

Britain Out As Europe’s Largest Financial Trading Hub

European Views | Amsterdam took over London as Europe’s largest financial trading hub following post-Brexit changes to finance rules. According to a report by BBC, value turnover on Amsterdam exchanges now stands at 9.2 billion euros or higher by 7 percent than London’s 8.6-billion-euro daily turnover. Following new Brexit rules, European Union (EU)-based banks switched to buying European shares currently not traded on the London stock exchange, resulting in loss of fees for city firms.

spain in europe

Spanish economy 12th February 2021

Spain Is Expected To Grow Above The European Average in 2021, Says The EC

Brussels has raised the Spanish GDP growth forecast for this year to 5.6%, which is two tenths of a percentage point higher than the previous estimate. This would make the Spanish economy the fastest growing of the 27 EU countries, ahead of France (+5.5%). That said, the European Commission (EC) also increases the risk of business failures in the sectors most affected by the new restrictions, with the potential for increasing unemployment and cutting production capacity.

Tubacex

Spanish economy 12th February 2021

The “Reddit Effect” Replicated In The Spanish Stock Market

The social network Telegram has been crowded with groups to buy and sell shares in a coordinated way imitating the actions of US Reddit forum to boost the stock price of GameStop. The Tubacex case, a steel pipe manufacturing company, has been the first target of a group of imitators in Spain known in Telegram as “Spanish WS Bets.” After that move, the company soared 15% in the stock market an caught the attention of the National Securities Market Commission.

spain foreign students

Spanish economy 12th February 2021

International Students Generates €3.8 Bn For The Spanish Economy

Some 1,044,898 internationals enrolled at Spanish institutions in the 2018-2019 academic year. Their overall economic impact on the Spanish economy amounts to near €3.8 Bn and the multiplier effect for student spend is 2.27, which means that for each euro spent on their academic program, these international students spent an additional 1.27 euros on a broad range of sectors of the national economy, explains the study The Economic Impact of International Students in Spain, promoted by ICEX and Eduespaña.

fallen angels sculpture

In the World, World economy 11th February 2021

Fallen Angels Reached A Maximum Of $166 Bn In 2020

Bonds that lost their investment grade rating and came to be considered by the high-yield rating agencies exceeded $200 billion (about €166 billion) in 2020, the highest annual peak on record to date, according to BNY Mellon IM. According to its data, some $1.5 trillion (€1.25 trillion) in bonds are rated ‘BBB-‘, the lowest rating before losing investment grade, so the firm expects the universe of so-called ‘fallen angels’ to increase in the current year.

UK renewables

Ibex, Markets, Spanish economy 11th February 2021

ACS Wins 480 MW Of Wind Power Licenses In The UK For €510 M

ACS, through its subsidiary Cobra, has been awarded 480 MW in the auction held to assign new licenses for offshore wind power facilities off the coast of the UK. The project will involve an investment of €510 M during the 10 years it will take to develop and build the plant before the wind turbines come into operation for an estimated period of 60 years. ACS has beaten other bids from large electricity companies such as Iberdrola in this auction, the first major British auction of wind farm licenses in more than a decade.