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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.

In the World 14th April 2025

ACS and Ferrovial selected for construction work on military buildings around US

Link Securities | The US Department of Defense has once again selected ACS and Ferrovial (FER) as preferred contractors to carry out construction work on military buildings in different parts of the country, according to Expansión newspaper. In a memo issued this week, the US Army announced that Ferrovial, through its subsidiary Webber, and ACS, through the recently merged Dragados-Flatiron, are among the companies selected to participate in a contract…

In Spain 14th April 2025

Inflation stands at 2.3%

According to the final reading of the data, released by the National Statistics Institute (INE), the Consumer Price Index (CPI) in Spain rose by 0.1% in March compared to February. In year-on-year terms, Spain’s CPI rebounded by 2.3% in March (3.0% in February), a reading that coincided with its preliminary figure and with analysts’ expectations. In March and in year-on-year terms, the groups that stood out most for their influence…

In the World 14th April 2025

Telefónica sells 99.3% of Telefónica Perú – in bankruptcy proceedings – for €900,000

Renta 4 | Telefónica HispAm, 100% owned by Telefónica, has sold the 99.3% stake it held in Telefónica del Perú to Integra Tec International. Furthermore, and as part of the agreement, Telefónica HispAm has sold to Integra the tax credits of up to €39 million that the former granted to Telefónica del Perú in February due to its financial restructuring. The sale price of its stake and the credits is…

Spanish economy 11th April 2025

Brandes Investment increases stake in Grifols’ B shares to 16.4%

Alphavalue/DIVACONS | Brandes Investment Partners has taken advantage of the sharp fall in the stock market value of the Catalan company specialising in plasma products following the tariff crisis to increase its stake in the B shares (non-voting) to 16.4%, with an estimated value of €250 million. This position could be key if Brookfield decides to resume its takeover bid for the company. Grifols shares rose 6.63% on Thursday. Grifols:…

In the World 11th April 2025

US inflation moderates more than expected to 2.4% year-on-year, lowest since September 2024

Bankinter | US inflation eased more than expected in March. The CPI growth slowed to 2.4% year-on-year (March) from 2.8% in February (against 3.0% in January) and is below the expected 2.5%. This is the lowest level since September 2024. The falls in Energy Products (down 3.3% year-on-year) and Petrol Prices (down 9.8%) are particularly noteworthy. The Core Rate, which excludes the most volatile items (energy and food), also fell….

European economy 11th April 2025

CAF subsidiary Solaris to supply 170 electric buses to two Swedish operators for over €100 million

CdM | The company has won two new contracts in Sweden to supply a total of 170 electric buses, with a combined volume of both operations exceeding €100 million, as reported by the CAF group. On the one hand, the Swedish operator Nobina Sverige AB has selected Solaris to supply 89 electric buses to be used in Stockholm, a new order that joins other recent orders from this same operator…

In Spain 11th April 2025

IMF raises Spain’s growth forecast to 2.5% and recommends not increasing debt to finance defense spending

The increase in defense spending announced by Spain should not be financed at the expense of increasing the already high level of debt in our country’s economy. This is the recommendation of the International Monetary Fund (IMF), which asks Pedro Sánchez’s government to carry out cuts in other areas or tax increases to meet its commitments in defense matters. The IMF released on Thursday the preliminary conclusions that the institution’s…

European economy 11th April 2025

Airbus delivers 71 aircraft and registers 211 gross orders in March

Deutsche Bank | Airbus (ABS) has released its orders and deliveries for March 2025. The company delivered 71 aircraft and recorded 211 gross orders, delivering a total of 136 aircraft in the first quarter of 2025. March 2025 deliveries are the highest in any March since 2022, supporting the view that Airbus’ industrial performance is improving. This could bode well for the rest of the year, if tariffs do not…

World economy 11th April 2025

China already feeling pressure of trade war on CPI – falls 0.1% year-on-year in March

Link Securities | According to official data, China’s consumer price index (CPI) fell by 0.1% year-on-year in March, falling below the consensus expectation of a 0.1% increase and marking the second consecutive month of decline, as the trade war with the US threatens to put further downward pressure on prices. However, the latest fall was significantly more moderate than the 0.7% in February, supported by a smaller fall in food…

Spanish economy 10th April 2025

Aena confirms traffic forecasts up 3.4% to 320 million passengers by 2025, and announces 10-for-1 share split

Intermoney | Aena (Buy, PO €215) held its shareholders’ meeting yesterday at which its chairman Ignacio Lucena confirmed their passenger traffic guidance in Spain of 320 million, implying an annual increase of +3.4%. The forecast was formally announced at the last presentation of the 2024 annual results, held at the end of February. In addition, the operator approved a future 10-for-1 share split, something that was also announced then and…

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