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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.
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In the World 1st April 2025

PCE rebounds: negative data reinforces arguments for Fed to move more slowly

Bankinter | The US PCE Private Consumption Deflator (February) was published last Friday with the following results: up 2.5% year-on-year versus the 2.5% expected and previous. Core PCE up 2.8% year-on-year against the 2.7% expected and previous (revised up from 2.6%). Personal Income (February): up 0.8% month-on-month compared to the 0.4% expected and the 0.7% previous (revised from 0.9%). Personal Expenditure: up 0.4% month-on-month versus 0.5% expected and a drop…

euros recurso

European economy 1st April 2025

Eurozone money supply up 4% year-on-year, 2/10 pp above previous month, highest level since November 2022

Banca March | In the Eurozone, the money supply has accelerated to its highest level since November 2022: the M3 registered an increase of 4% year-on-year, two tenths above the previous month. This improvement shows greater dynamism in credit, with loans to non-financial companies growing by 2.2%, two tenths more than the previous month, and loans to households also accelerating to a year-on-year increase of 1.5% (against 1.3% previously). These…

iberdrola solar

Relevant News Item 1st April 2025

Iberdrola’s largest US solar project, €341-million True North farm, starts operating

Link Securities | The Spanish electricity company Iberdrola (IBE), through its US subsidiary Avangrid, has put into commercial operation its largest solar project in the United States to date, the True North plant, with an installed capacity of 321 MW located in Falls County (Texas, United States) and an investment of $369 million (about €341 million), as reported on Monday by Expansión. Specifically, the project supplies electricity to the Texas…

pensioners

In Spain 1st April 2025

Spanish pension system’s sustainability ‘not improved’ after reforms say Airef

The Independent Authority for Fiscal Responsibility (Airef) has criticized the methods used by Social Security to balance its calculations and has warned about the lack of sustainability of pensions, which ‘has not improved after the reforms,’ pointed out Airef President Cristina Herrero, who noted that ‘the dynamics of pensions are now worse than before’ the reforms promoted by former Social Security Minister José Luis Escrivá, which included revaluation with inflation…

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In Spain 31st March 2025

Spain’s per capita income as far from European average as it was in 1999

Eurostat, the European statistical office, estimates that Spain is as far from the European average per capita income as it was in 1999, 25 years ago, according to the newspaper El Mundo today. Progress since then has been zero, measured in terms of Gross Domestic Product per capita and purchasing power. It’s not that Spanish income hasn’t grown in this first quarter of a century. Eurostat estimates it at €27,770…

Endesa nocturnal

Relevant News Item 31st March 2025

Endesa approves share buyback for €517 million to reduce capital and flexible remuneration

Bankinter | The board of directors of Endesa has approved two different tranches of buybacks. On the one hand, a first tranche of €17.3 million intended to comply with the flexible remuneration programmes for group employees, with a maximum of 1.11 million shares. The execution period will run from 28 March to 14 April. The second tranche is valued at a maximum amount of €500 million and the objective is…

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In the World 31st March 2025

Trump imposes 25% tariffs on all imports of cars not manufactured in US, to come into force on 3 April

Bankinter | The measures will come into force on 3 April for all cars not manufactured in the United States. Trump also added that the tariffs would also affect car components, and that these would come into force by 3 May at the latest. He also stated that the tariffs would be permanent in nature and without exceptions. Bankinter analysis team’s view: Bad news for the sector in general. Currently,…

repsol banderines

Relevant News Item 29th March 2025

Repsol merges UK upstream business with independent operator NEO Energy Group Limited

Renta 4 | Repsol has reached an agreement to consolidate its upstream oil business in the UK with NEO Energy Group Limited, a leading independent oil and gas operator in the UK. The agreement will be structured through a share swap in which Repsol will have a 45% stake in the joint venture and NEO UK a 55% stake, reflecting the contribution and strategic alignment of both groups, with a…

Reino Unido economia

In Europe 29th March 2025

UK increases defence budget but cuts spending in face of lower growth prospects

BancaMarch | The budget watchdog cut GDP forecasts for 2025 to just +1%, down from an initial +2%. In a scenario of greater economic weakness and rising borrowing costs, the British finance minister, Rachel Reeves, updated the budget in the face of the threat of breaching fiscal rules. The debt markets seemed to welcome the emphasis on fiscal responsibility. The measures involve cuts of up to £14 billion by 2029-2030….

GLOBALDEBT

In the World 28th March 2025

Global debt issuance reached new high in 2024

Círculo de Empresarios | According to the OECD, in 2024 global debt issuance surpassed $25 trillion, while the global stock of debt exceeded $100 trillion. Following a brief pause during the pandemic, the global debt-to-GDP ratio has recovered its upward trend. More than half of OECD-sovereign and global corporate debt is currently paying interest costs below the prevailing market rates