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.
Eurogrupo Europa chuli

Support For Anti-EU Parties Falls During Pandemic

Nick Ottens (Atlantic Sentinel) | If the coronavirus pandemic is giving Europeans doubts about the EU, it isn’t showing up in support for Euroskeptic parties. Germany‘s ruling Christian Democrats are up from 33 to 35-37 percent in the polls. The far-right Alternative for Germany is at 9-10 percent, down from 13 percent in the last election. There is no chance it will end up in government. In Austria, the conservatives have swapped the far-right Freedom Party for the Greens in the ruling coalition. The Freedom Party is polling at 12-16 percent, far below their peak of 26 percent support in 2017. Mark Rutte is on track to win reelection in the Netherlands. The far-right Forum for Democracy, which narrowly bested Rutte’s liberal party in midterm elections in 2019, has imploded. In France…


yuan dollar paperplane

China: Understanding RMB Exchange Rate Cycle

Jinyue Dong (BBVA Research) | From the regional peak if 7.167 in May 2020 till now around 6.477, RMB to USD eschange rate seems to have been entering into a one-way appreciation trend whit its accumulative appreciation for around 9.6%, gaining most of lost ground of the previous depreciation triggered by China-US trade war since 2018. Not only the RMB to USD spot rate, but also the RMB CFETS basket has displayed quite a similar pattern from 91.39 to around 96, accumulatively 5%. That means, CNY has not only outperformed USD, but also against a broader basket of currencies.



ACS Dallas airport

ACS To Build A Runway At Dallas Airport For €100 M

Intermoney | ACS, through its US subsidiary Flatiron, will undertake the reconstruction of a runway at Dallas’ second airport, Love Field. The contract budget is 103 Mn€, and the works will comprise, amongst other projects, reshaping the concrete pavement and reforming the taxiway parallel to this runway. Love Field has an estimated annual passenger traffic of 17 million, not counting the pandemic effect, and serves as an operations hub for Southwest Airlines.


Tourism spending in Spain

Spain Exceeds World Average In Its Capacity To Attract Long-Stay Tourism

Spain is above the global average in its ability to attract long-stay tourism (i.e., more than a week). This type of tourist accounts for half of the national offer, with long-stay trips considered “more satisfactory” than short-stay trips. This is reflected in the ‘Study on the positioning of Spain as a tourist destination’ recently presented by the Real Instituto Elcano and Turespaña.


Amazon

Amazon Will Charge Companies In Spain The 3% ‘Google Tax’ As Of April

Amazon will charge from April all companies that sell their products in Spain, including more than 9,000 Spanish SMEs, the recently launched “Google tax.” This will be a burden for the big technology companies of 3% of their revenues from their digital services in the country. In other words, if a company sells a product for €100 through Amazon, and the reference price is 15%, the platform would apply 3% to that 15%, thus charging 0.45% more, i.e. 15.45%.


polarisation

Political Polarisation: The Phenomenon That Should Be On Everyone’s Lips

Javier García Arenas (Caixabank Research) | Society has become notably more polarised in recent years. In the US, this manifests itself through a wider gap between the views of Republican and Democrat voters. In Europe, we have identified an increase in disagreements over fundamental issues such as immigration and European integration. Political parties have also become more polarised in advanced economies, most notably in the last decade.


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How The Environmental Regulatory Pressure Will Affect The Oil And Gas Sector In 2021

Scope Ratings | The credit outlook for the integrated oil & gas sector has improved to stable from negative on improved price assumptions and companies’ decisive action to shore up their balance sheets last year. However, a weaker-than-expected economic recovery from the recession brought on by the Covid-19 pandemic and strategic challenges, such as tougher environmental regulation and peaking oil demand, are potential threats to credit quality. These are the main trends we expect for integrated oil and gas companies in 2021.


Spain devastated

Spain’s GDP Plummets By 11% In 2020

The Spanish economy fell by 11% in 2020 as a result of pandemic’s impact on activity, an unprecedented slump in peacetime. It is also the largest annual contraction since statistical data has been recorded, thus ending six consecutive years of growth, according to the National Institute of Statistics (INE). The fall of the economy in 2020 is slightly below that forecast by the Government (11.2%).


corona vaccine

The Vaccination Process Against Covid-19: Between Fear And Hope

“The slow vaccination process and the fear of a lagged recovery will continue to cause a reduction in risk assets,” say analysts at Link Securities, although it is true that “sooner or later, vaccination will take effect and one must be positioned for the day after,” say the experts at Intermoney. Between both feelings, the Covid-19 vaccination campaign is one month since it started in the EU. Figures are still far from the rates needed to achieve the immunization objectives. Spain would have to multiply by 5.6x the current rate of daily doses administered.