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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.
Jerome Powell

In the World, World economy 25th January 2021

FED: Upward Surprise To December’s Projections But Powell To Throw Cold Water Over Taper Talk

Attention will be particularly centred on the discussion of QE tapering. Previous comments by regional Fed members Bostic and Kaplan stoked markets into pricing in the possibility of bond market support fading by year-end. When combined with news of an additional $1.9trn fiscal stimulus package being floated in Washington, this resulted in rising 10-year yields, which has been one driver of the USD rebound witnessed at the beginning of this year. A quicker vaccination campaign being rolled out since December has also added to a brighter economic outlook, bringing the discussion of policy normalisation to the table.

CAF

Spanish economy 25th January 2021

Possible Disinterest Of CAF In Alstom’s Divestments In France

CAF could have withdrawn from buying the factory that Alstom has in Reichschoffen (Alsace, France). The European authorities are forcing the French company to sell in exchange for giving the green light to the 5.3 billion euros acquisition of Bombardier’s railway business. This purchase will be executed on January 29. On January 8, Alstom seemingly informed the trade unions of this plant that CAF was not interested in the situation of the operation.

coronavirus susto

European economy 25th January 2021

Third Wave Of Coronavirus Jeopardises European Growth Prospects

The unstoppable spread of the pandemic is currently hitting Portugal and Spain with particular severity. And it has been worsened with possible delays in the production of vaccines, both by Pfizer and Astrazeneca, thus jeopardizing the pace of deliveries and the vaccination schedule in Europe. At the same time, the short term is being complicated on the continent by the increase in the number and depth of restrictions. These are weakening the prospects for recovery in the first part of the year.

Barcelona housing

Spanish economy 25th January 2021

The Housing Stock in Spain Is Worth €4.1 Bn, Over Three Times GDP

The housing stock in Spain would be estimated at 4.1 billion euros in the hypothetical case that all the homes were now on the market, which is a figure over three times higher than national GDP (1.2 billion). This is according to a study by the real estate website Idealista, in which all the houses recorded in the property register are valued at current prices.

art market

In the World, World economy 24th January 2021

The Global Art Market And Covid-19: Resilience In A Time Of Turmoil

S.Gyorgy, D.Picarda, F. Xydas and S. Wieting (Citi GPS) | The art market has remained resilient in 2020 amid the turbulence brought on by the coronavirus pandemic. Rapid digitization in response to the crisis is laying the foundation for a deeper, more permanent shift as the industry adapts to changing preferences and demographics. Meanwhile, cultural institutions are addressing wider calls for social justice and taking steps towards greater inclusion.

 

Spain's technology deficit could reach €21.078 billion

In the World, World economy 23rd January 2021

Regulating the Fast-Changing Fintech Landscape

Sonia Katyal | Countries around the world, including India, are sponsoring initiatives like innovation hubs to stay on top of and engender tech-driven progress on desirable lines. That should ultimately lead to enriching financial lives across the world and perhaps even open the gates for poverty reduction strategies that were hitherto not imaginable. Such is the promise of the financial revolution that lies ahead if the regulatory waters are navigated well.

Grifols inmunoglobulin

Ibex, Markets, Spanish economy 22nd January 2021

Grifols’ Anti-SARS-CoV-2 Hyperimmune Globulin Begins Clinical Trial In Patients With COVID-19

Grifols has announced that its anti-SARS-CoV-2 hyperimmune globulin has started a clinical trial to test its safety, efficacy and tolerability. This medicine provides a consistent concentration of purified neutralizing antibodies and could be used for both prevention and treatment of the disease. The clinical trial is the latest phase of an initiative that goes back to March when Grifols started work on its anti-SARS-CoV-2 hyperimmune globulin as part of a collaboration with U.S. government agencies.

ECB night

European economy 22nd January 2021

Despite ECB’s Boost, Banks Tighten Credit Conditions Amid Fears About Debtor Solvency

This week the European Central Bank published the latest edition of its “Eurozone Bank Lending Survey” with 4Q20 data showing the need for continued generous support from the central bank. Despite the measures implemented by the ECB, the logical fear of banks about the solvency of their debtors explains why the conditions for accessing bank credit are tightening. In 4Q20, credit conditions for households eased, but not in the case of companies, considering that both areas were severely deteriorated in 3Q20. 

employment office inside

Spanish economy 21st January 2021

Spanish Labour Market 2020: The Year Of Massive Destruction In Employment

Bankia Estudios | Last year ended with the loss of more than 100,000 Spanish companies, a fall of 360,105 Social Security affiliates – the first decline in seven years – and an increase of 724,532 unemployed. It must be added 755,613 workers under temporary lay-offs programs and 349,342 self-employed receiving extraordinary unemployment benefits; in other words, more than 1.1 million people who, although technically still considered employed, are not actually working or are working reduced hours.

biden inauguration

World politics 21st January 2021

Joe Biden Sends A Clear Message To The Watching World – America’s Back

Scott Lucas via The Conversation | As aspiration, the speech was pitch perfect. Biden rightly took on the present of America’s most serious domestic crisis since the Civil War. Coronavirus, the Capitol attack, economic loss, immigration, climate change and social injustice were confronted. But what distinguished the speech beyond the essential was the sincerity with which it was delivered. Since the election, there has been a commingling of Biden’s personal narrative of loss with the damage that America has suffered.