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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.
spain poverty oxfam

Spanish economy 26th October 2020

Poverty In Spain Could Rise By More Than 1.1 M People Due To The Pandemic, Warns Oxfam Intermon

The socio-economic consequences of the pandemic could increase the number of people living in poverty in Spain by more than 1.1 million if no further measures are taken, according to new estimates by Oxfam Intermón. With this increase, the total number would reach 10.9 million people, rising from 20.7% of the population before COVID-19 to 23.07% after the impact of the pandemic. At an international level, the organization highlights that for the first time in 20 years, extreme poverty will increase.

Trump Biden 1

In the World, World politics 26th October 2020

The Race Is Tightening Between Mr Trump And Mr Biden

The final presidential debate between Mr Trump and Mr Biden was yesterday evening. This final head to head between the candidates before the election on 3 November came after the second debate was cancelled due to Trump’s infection with coronavirus. Despite the chaotic back and forth between both candidates during the first debate, there are notably different views between both candidates about corporate taxes, energy and US-China trade

Cellnex torreta

Ibex, Markets, Spanish economy 26th October 2020

Cellnex Extends Its International Expansion To Poland, One Of The Strongest Economies In Eastern Europe

Following Cellnex’s recent capital increase of 4 billion euros, the company has reached an agreement with Iliad to acquire a 60% controlling stake in the company that will operate Play’s 7,000 telecommunications sites in Poland. The agreement between Iliad and Cellnex is expected to be closed by Q2 2021. It will allow the company to enter a new market and further consolidate its leadership position in Europe, where it will reach 73,000 telecommunication towers.

spanish food

Spanish economy 25th October 2020

Spain Invests €4 Mn To Promote Spanish Food On The External Market

The Spain Food Nation campaign, coordinated by ICEX, will provide market agents with all the necessary information to promote the international marketing of Spanish food as well as to help the sectors most affected by the health crisis and the effects of US tariffs. It will take place in some 20 countries, and will present Spain as a country that supplies safe food to Europe and the world.

climate change 1325882 1280

In the World, World economy 24th October 2020

The Planet’s Temperature Will Rise 3.9°C, Despite The Covid-19 Crisis

Today is the International Day against Climate Change. Schroders analyzes how the Covid-19 crisis has influenced this phenomenon. The conclusion is that, despite the fact that confinements have reduced greenhouse gas emissions, the forecasts for global warming are still far above the commitment made in Paris in 2015. In particular, the latest update of the Schroders Climate Progress Dashboard suggests that the current speed of climate action will increase temperatures by 3.9°C, almost twice the Paris Agreement target of 2°C.

lagarde

European politics 23rd October 2020

Procyclical Financial Regulation: What Can Be Done?

The COVID crisis brought about impressive activism on the part of financial regulators. Measures taken to offset the impact of the pandemic included: 1) encouraging forbearance and avoiding automaticity in non-performing loan (NPL) accounting and provisions; 2) allowing the use of capital and liquidity buffers; 3) reducing the supervisory, operational and reporting burden; 4) delaying the entry into force of more stringent requirements; while 5) bringing forward more lenient ones; and 6) ensuring the continuity in the provision of critical functions. Governments provided guarantees to loans to companies and individuals affected by the pandemic, which enjoyed better regulatory treatment.

Gran Canaria

Spanish economy 23rd October 2020

UK and Germany Give Back To The Canary Islands The Status Of Safe Destination

The low incidence of the Covid19 virus in the Spanish islands has led the United Kingdom to include again the archipelago in its list of safe air corridors, which will mean that travellers will not need to go into quarantine. For its part, Germany will lift the restriction on travel to the islands on Saturday. Both countries, which are the two largest international sources of tourists to the Canary Islands, will boost the tourist season in a region where this sector accounts for 35% of GDP and 40% of employment.

Standard Poors

In the World, World economy 23rd October 2020

The Risk Of Huge Increase In Spending And Public Debt Due To Covid-19 Will Lead To More Ratings Downgrades

S&P has warned of the possibility of a second wave of sovereign credit rating downgrades around the world. So far in 2020, the firm has downgraded ratings or outlook for 60 countries. The problem lies in the effects of COVID-19 that be will dragged on over the next few years. In fact, some countries will add 15-20 GDP points to their public debt, which otherwise would have taken four or five years to accumulate. In addition, public spending will continue to be above normal for a period that can extend 3-5 years.

Caixabank 1

Spanish economy 23rd October 2020

Caixabank Cleans Up Its Balance Sheet Before The Merger: Will Sell €1Bn Of Toxic Assets

Before clompleting its merger with Bankia, Caixabank wants to reorganise its balance sheet and will put up for sale portfolios of problematic assets worth 1 billion euros. The doubtful assets CaixaBank intends to divest have been divided into two portfolios. The first, called ‘Project Hermitage’, is made up of ‘unsecured’ credits valued at some 600 million euros. The second one, under the name ‘Louvre Project’, consists of credits worth some 400 million euros with a real estate guarantee.

Tindoufok

In the World, World politics 22nd October 2020

Morocco And Western Sahara: Human Rights Component Critical To UN Mission

On 28 October, the UN Security Council is due to vote on the renewal of the mandate of the UN Mission for the Referendum in Western Sahara (MINURSO) which has thus far not included a human rights component. MINURSO was established in 1991 to monitor a ceasefire agreement between Moroccan armed forces and the Polisario Front, a Sahrawi pro-independence movement which administers Sahrawi refugee camps in Tindouf, Algeria.