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Articles by The Corner

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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.
repsol brasil

Spanish economy 3rd July 2025

Elliott Management increases stake in Repsol to 1.35%, equivalent to investment of almost €200 million

Link Securities | Activist fund Elliott Management, which last March burst onto the scene by acquiring a stake in Repsol, Spain’s leading oil company, continues to climb the ranks, Expansión reports today. According to National Securities Market Commission (CNMV) records, it now holds 1.35% of Repsol’s capital, which at current prices is equivalent to an investment of almost €200 million. In half a dozen successive transactions since March, the fund…

eeuu capitolio

World economy 3rd July 2025

US Senate approves Trump’s “One Big Beautiful Bill” by 51 votes to 50

Bankinter | The Senate approved, by a narrow margin of 51 to 50, the stimulus package proposed by President Trump, known as “One Big Beautiful Bill”. The approval was only possible thanks to the tie-breaking vote of Vice President JD Vance, after three Republican senators joined the Democratic opposition. Bankinter analysis team’s view: The package, which now goes to a new vote in Congress, provides for extending and making permanent…

españa turismo selfie

Spanish economy 3rd July 2025

Spain welcomes 9.4 million international tourists in May, 1.5% more than in same month last year

CdM | Spain received 9.4 million international tourists in May, 1.5% more than in the same month last year, whose total expenditure reached €12.254 billion, an increase of 4.9%, according to data published by the National Statistics Institute (INE). The United Kingdom was the main country of residence, with almost 2.1 million tourists and an increase of 7.3% compared to May 2024. France accounted for 1.2 million (down 6.7%) and…

Aena nuevita

In Spain 3rd July 2025

Council of Ministers approves additional €351-million investment in Aena’s current five-year investment plan

Link Securities | The Council of Ministers has approved an additional investment to those planned in Aena’s (AENA) current five-year investment plan (known as DORA II, Airport Regulation Document 2022-2026) worth €351 million. These are investments that could not be foreseen before the approval of this Dora II and which bring forward necessary actions that would, in any case, be carried out in the next Dora III period (from 2027…

ECB bonds

European economy 2nd July 2025

ECB to act ‘especially forcefully or persistently’ in face of inflationary shocks regardless of origin

Bankinter | The European Central Bank (ECB) has announced an update to its monetary policy strategy, adopting a more rigorous and agile approach to major inflationary shocks in a context of growing global uncertainty. The main new feature is the commitment to act ‘especially forcefully or persistently’ whenever inflation deviates significantly and persistently from the 2% target, regardless of the origin of the shock, whether temporary or structural. The aim…

TSB Sabadell

Spanish economy 2nd July 2025

Banco Santander agrees with Sabadell to purchase TSB for €3.1 billion, €470 million synergies expected

Renta 4 | Banco Santander (SAN) has reached an agreement with Banco Sabadell for the purchase of TSB. The payment will be made entirely in cash for an amount of £2.65 billion (cclose to €3.1 billion versus €2.5 billion R4 estimate). They estimate that cost synergies of >£400 million will be achieved by 2028 (c.€470 million), representing 13% of the combined cost base of both banks in 2024. To this…

renovables EEUU

In the World 2nd July 2025

Trump’s tax and spending package could reduce US renewable capacity by 500 GW

Link Securities | The tax and spending package proposed by US President Trump poses significant threats to the renewable energy sector, according to StreetAccount analysts. The Senate bill introduces new taxes on wind and solar projects with Chinese components after 2027, while tightening qualification rules, requiring projects to be operational by 2027, rather than simply started. In addition, they point out that the legislation could reduce US renewable capacity by…

Spain ratings

In Spain 2nd July 2025

Brussels Urges Spain to Accelerate Next Gen EU Funds, Citing Only 30% Received Compared to Italy’s 72%

Spain’s Minister of Economy, Carlos Cuerpo, has been stuck for months in negotiations with Brussels over the fifth payment of the Next Gen EU funds, totaling €23.9 billion: €8 billion in grants and €15.9 billion in soft loans. Because Pedro Sánchez’s government did not request the loans from Brussels until March 2023, Spain has only received €47.96 billion in grants and €340 million in loans so far. This means a…

China

World economy 2nd July 2025

China PMIs exceed expectations: 49.7 in manufacturing, 50.5 in non-manufacturing and 50.7 in composite index

Bankinter | China’s PMIs slightly exceeded expectations. Manufacturing PMI: 49.7 versus 49.6 expected; Non-manufacturing PMI: 50.5 versus 49.6 expected; Composite PMI: 50.7 versus 50.4 previously. Bankinter analysis team’s view: These figures point to a positive outlook in the short term, with industrial production growing month-on-month and demand rising for the first time in three months. However, in the medium term, the deterioration in employment and the end of the trade…

Banco Santander

In Spain 2nd July 2025

Santander Buys TSB from Sabadell for €3.1 Billion

Banco Santander—currently the UK’s fourth-largest mortgage lender—will pay £2.65 billion (approximately €3.1 billion) in cash for TSB, the ninth-largest bank in the country. In addition to this, Sabadell will receive the €300 million that TSB is expected to earn until the transaction closes during the first quarter of 2026. This deal will allow Sabadell to pay €3.8 billion in dividends (equivalent to 1/6 of the bank’s capitalization) over the next…