Articles by The Corner

About the Author

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.
fed powell nov 2023

Fed keeps interest rates unchanged, raises inflation projections and recognises high level of uncertainty

Norbolsa | The monetary authority kept interest rates unchanged as expected after a meeting where the focus was on economic projections and the outlook for rates. Thus, the easing of recession risks, together with the maintenance of expectations of two rate cuts during the year, reassured the market, although it recognised that with the high uncertainty in the scenario, the best estimate given by the members is that they will…


Sanchez

Government’s calculations not adding up, continues losing votes

While the president of the government negotiates in Brussels for the rearmament of the European Union, which is strongly opposed by his coalition partners, in the Congress of Deputies, the PSOE loses vote after vote, losing the support of Junts (the party of Puigdemont) in some cases, ERC (the party of Oriol Junqueras) in others, and Sumar, the party led by Yolanda Díaz, the vice president of the government.In one…


indra edificio

Indra criticises General Dynamics’ management by announcing intention to buy armoured vehicle manufacturer Santa Bárbara Sistemas

Alphavalue/ Divacons | Expansión comments that Indra is concentrating its signings on defence companies. For his part, the president Ángel Escribano emphasises that they will fulfil the strategic plan ahead of schedule. According to yesterday’s Expansión, the Spanish IT services and consulting company harshly criticised the management of Santa Bárbara by General Dynamics, the US defence giant. The Spanish company started a transatlantic war of words by announcing its intention…


vivienda españa 1

Housing prices to rise by 10% in sales and 8.6% in rentals in 2025, according to UCI and SIRA

Renta 4 | According to the forecasts included in the 22nd edition of the Real Estate Barometer, prepared by the Union of Real Estate Credits (UCI) and the Spanish International Realty Alliance (SIRA), the price of housing will rise by 10% for sales and 8.6% for rentals in 2025. Transactions, meanwhile, are expected to grow by 4.6%,to 750,000 units. The context of supply-demand imbalance, the fall in interest rates and…


SantanderUK

Santander restructures UK business by reorganising branches to increase profitability

Link Securities | Banco Santander (SAN) is restructuring its UK business to increase the profitability of the subsidiary, which has been under pressure in recent years and is below the group average, according to the newspaper Expansión. Specifically, Santander’s British subsidiary has announced a reorganisation of its branch network, which will involve the closure of 95 branches, 21% of the 444 it currently has. In addition, it will introduce other…


EEUU energy

US industrial production recovers in February due to strong rise in durable goods

Intermoney | Industrial production recovered in February, advancing by +0.7% m. (five tenths more than expected) while January’s was revised downwards by two tenths to 0.3%. The solid growth in manufacturing activity (0.9% month-on-month) together with mining production (2.8% month-on-month) meant that the fall in utilities (2.5% month-on-month) was not particularly noticeable, thanks to the mild temperatures compared to a particularly cold January. In the details of the data, the…


comercio cm 2

Spain’s trade deficit reaches €6.19 billion in January, Eurozone surplus €1 billion

Link Securities | According to data released by the Ministry of Industry, Trade and Tourism, in January Spain’s trade deficit increased to €6.19 billion, compared to €3.73 billion in the same month last year, reaching its highest level since October 2022. In January, exports fell by 1.2%, to €29.78 billion, weighed down by sharp contractions in the automotive sector (21.2%), energy products (15.0%) and capital goods (5.7%). Among the main…


Alemania PIB

ZEW index economic expectations for Germany ‘improve considerably’ in March

CdM | Germany’s economic expectations ‘improve considerably’ in March. The ZEW indicator of economic sentiment stands at 51.6 points, which is 25.6 points above the previous month’s figure and exceeding the market forecast of 48.1. The last time the indicator increased so substantially was in January 2023. ‘This optimism is probably due to positive signals about future German fiscal policy, such as the agreement on the multi-billion-euro financial package for…


sacyr edificio logo nuevo

Sacyr awarded another concession in Chile, extension of one already under way, worth €516 million

Intermoney | Sacyr (Buy, PO €4.4) announced yesterday, while the market was open, that it had been awarded a new concession in Chile. This is the Itata Route, which involves an investment of €516 million and includes the improvement, construction, maintenance and operation of existing and new works. These include the improvement of the current routes 152 (75.1 km) and 158 (14.1 km) and a new 6.9 km dual carriageway…


prisa el pais

President of pro-government El País compares Sánchez to Franco for wanting to take total control of newspaper

Joseph Oughourlian, president of Grupo Prisa – a publicly traded company and owner of the newspaper El País and SER, the leading radio network in Spain – has publicly denounced the attempt by the President of the Government, Pedro Sánchez, to oust him from the presidency of the Group and seize the company, as he has already done with Indra and Telefónica. In an editorial unimaginable just a few weeks…