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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.
airlines rescue

World economy 3rd September 2020

Recovery: Slow, But Not So Steady

Johannes Müller Head of Macro Research DWS | Until the Covid-19 virus is finally defeated, the recovery looks set to continue at an uneven pace. In our view, pandemic containment will remain an economic drag for the foreseeable future. Over the course of the summer, we have already seen signs of the initial, V-shaped recovery giving way to a much flatter curve of improving global economic activity. The good news is that most developed countries appear better prepared for potential renewed virus surges in the fall than they were in spring.

euro.growth

In the World, World economy 3rd September 2020

Global Insolvencies Could Increase By 26% In 2020

In Spain, the increase foreseen by Crédito y Caución reaches 30%, due to the sectorial composition of the economy. The credit insurance company forecasts an increase of 26% in corporate insolvencies worldwide, which will largely materialize during the second half of 2020.

unemployed august

Spanish economy 3rd September 2020

Spain Manages To Create Jobs In August For The first Time In The Historical Series

The Social Security affiliates increased in August by 6,822 on a monthly average after rising by 161,217 in July. This is the first increase in an eight month of the year since the historical registers started in 2001. “In August there is usually a sharp drop in affiliation due to the destruction of many seasonal jobs at the end of the month, but this year jobs have recovered due to the progressive re-opening of companies”, says Funcas.

Telefonica 5G networks

Spanish economy 3rd September 2020

Telefónica To Extend The 5G Network To 75% Of The Population This Year

As of today, Telefónica’s 5G network is available in all the autonomous communities, with outstanding hyperconnectivity in European terms as a result of its combination with fibre optics. According to Telefónica chairman José María Álvarez-Pallete “5G will bring huge benefits for Spain. This is a golden opportunity for our country to lead the Fourth Industrial Revolution”. This move will enable 75% of the Spanish population to obtain access to this new technology by the end of the year.

Brexit endgame

European politics 2nd September 2020

Negotiating The End Of Brexit

John Bruton | It is increasingly likely that, unless things change, on January 1, 2021, we will have a no-deal Brexit. That would mean the only deal between the European Union and the United Kingdom would be the already ratified EU withdrawal agreement of 2019. Both Ireland and the European Union need their best team on the pitch as Brexit approaches the endgame.

EU Next Generation

European politics 2nd September 2020

SURE May Be Ready, But Next Generation EU May Make Noise Before Helping

The EU’s SURE programme, providing loans to help finance short-time work (even retrospectively) is in high demand. The recovery fund “Next Generation EU” was the big deal this summer. But more complicated news may be next, points BoA Global Research. Technical details and national approval processes are not completed and could be the source of less reassuring headlines, explains the firm.

balearic islands palma

Spanish economy 2nd September 2020

International Tourism In Spain Plummets 75% In July With A Drop In Spending Of Almost 80%

Dramatic. This is the best way to describe the decline of foreign tourism in Spain. The figures for international visitors between June and July showed that Spain has lost more than 16 M foreign tourists and over  €19 Bn in tourist spending. In the month of July specifically – the first full month since the end of the State of Alarm – 2.46 M foreign tourists arrived in Spain, 75% less than in July 2019. Meanwhile spending stood at €2.45 Bn, down 79.5% from a year earlier.