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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's left’s inability to unite against the right

Spanish economy 10th January 2020

First Coalition Government in Spain: Possible consequences

Alvise Lennkh (Scope Ratings) | It is unlikely that the minority government led by the PSOE significantly reduce the structural deficit and debt of Spain, while the proposal for partial repeal of previous labor market and pension reforms could adversely affect employment and sustainability of the pension system. This government coalition does not have a parliamentary majority and, therefore, depends on the support of other parties to pass each law, starting with the next general budget, which will be crucial for the credit rating of Spain (currently in A- / Stable).

oil

World economy 9th January 2020

Oil: Political markets have short legs

Norbert Rücker (Julius Baer) | Oil prices sold off more than 4% as concerns about supply risks in the Middle East calmed. The latest actions and reactions show that both opponents, the United States and Iran, are shying away from a military escalation out of fear of its potential economic costs. We stick to our Neutral view on oil and see oil prices lower towards year end. Demand should remain soft amidst weak growth, while supplies increase from Canada to the North Sea.

Repsol

World economy 9th January 2020

US is more relaxed about oil spike than Europe – which helps explain differences over Iran

Mueid Al Raee (The Conversation) |Whether or not the Americans actually want higher oil prices, there are certainly good economic reasons why they probably won’t mind them. Deepening the chaos that started with the US withdrawing from the West’s nuclear deal with Iranis an “easy” way to achieve higher oil prices while meeting other strategic objectives. Yet how the Europeans, China and Russia respond will also determine the global flow of oil from Iran and Iraq.

Oil

Markets, Opinion, World economy 7th January 2020

Oil: 2020 Spells Geopolitics For Energy

Norbert Rücker (Julius Baer) |  The oil market is off to a rocky start as the tensions between the United States and Iran escalate. The situation brings lots of uncertainty and geopolitical tea-leaf reading on reactions. While the closure of the Strait of Hormuz remains a very unlikely event, the deterioration in Iraq bears supply risks. Geopolitics tend to be a temporary force on oil markets and we believe this time is no different. We raise our near-term forecast to USD 65 per barrel, and maintain a Neutral view on oil.

 

Unidas Podemos: nepotism, communism and “good governance”

Opinion 7th January 2020

Unidas Podemos: Nepotism, Communism And “Good Governance”

Before it has a president -Pedro Sánchez- Spain has known the names of half of its future cabinet members, the ones appointed by Pablo Iglesias, leader of Unidas Podemos and future vice-president of the PSOE-UP Coalition Government, who, to stress his independence and loyalty to PSOE and President Sánchez, has announced the names of the four ministers (cabinet members) that he, and not Sánchez, has chosen. A good start.
China proposes major antitrust law overhaul, curbing internet titans

Markets, World economy 7th January 2020

China Proposes Major Antitrust Law Overhaul, Curbing Internet Titans

Dave Yin (Caixin) | China is making major revisions to its antitrust law for the first time in more than 11 years to give it more teeth while reining in the dominance of the country’s internet goliaths.China is making major revisions to its antitrust law for the first time in more than 11 years to give it more teeth while reining in the dominance of the country’s internet goliaths.