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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 Spain 25th June 2025

“Sánchez has 380 advisors, including screenwriters for films and series, and set design specialists…”

Yesterday, 40 former senior PSOE officials—including ex-ministers and former regional presidents—sent a letter demanding Pedro Sánchez’s resignation, citing the “democratic regression” Spain is experiencing. Beyond the corruption cases surrounding the Prime Minister and the PSOE, these long-serving socialists are extremely concerned about Spain’s trajectory. They demand a party regeneration that requires Sánchez’s departure, arguing he is a hostage to an incredible policy of pacts that conditions government action, and to…

In Spain 25th June 2025

Government Blocks BBVA-Sabadell Merger for Three Years and Prohibits Operation-Related Layoffs

The Council of Ministers has made the operation contingent on BBVA maintaining Sabadell as an independent entity for three years, extendable by two, which effectively prevents the merger BBVA sought. The group chaired by Carlos Torres will be able to change Sabadell’s board of directors, but cannot implement joint staff adjustments or branch network changes associated with the operation. Each entity will have to preserve its legal personality, separate assets,…

European economy 25th June 2025

Eurozone activity fails to take off: Composite PMI remains unchanged in June at 50.2 points

CdM | The Eurozone is struggling to take off. This is shown by the PMI survey data released on Monday, which highlights that total private sector activity in the eurozone ‘barely managed to register any growth at the end of the first half of 2025’. HCOB’s Eurozone Composite PMI Total Activity Index remained unchanged at 50.2 in June, above the no-change level of 50.0 for the sixth consecutive month, but…

Spanish economy 24th June 2025

Indra falls almost 3% on stock market after Spain and NATO agree to defence spending of 2.1% GDP

Alphavalue/DIVACONS | Shares in the Spanish IT services and consulting company fell by 2.93% on Monday following the agreement reached between the Spanish government and NATO. This agreement exempts Spain from spending 5% of GDP on defence in exchange for meeting certain ‘capacity targets’ over the next four years. Specifically, Spain will spend 2.1% of GDP (compared to the current 2%, recently increased in April). Last week, Indra had already…

In Europe 24th June 2025

ArcelorMittal puts decarbonisation plans on hold at two German plants due to energy policy and regulatory environment

Morgan Stanley | Our analyst Alain Gabriel highlights two pieces of news from the steel sector that are delaying decarbonisation targets. ArcelorMittal has announced that it is putting its decarbonisation plans on hold at two German plants (Bremen and Eisenhüttenstadt) given the energy policy and regulatory environment. In addition, Arcelor has confirmed that it will not be able to meet its 2030 emissions intensity targets. It justifies this on several…

In Spain 24th June 2025

NATO Contradicts Sánchez, Denies “Exclusion Clause for Spain”

NATO does not believe Spain can fulfill its military capabilities by investing only 2.1% of its GDP in Defense. Secretary General Mark Rutte made this clear yesterday, stating that the country will have to spend 3.5%. The Alliance is “absolutely convinced” of this, he specifically pointed out, thus contradicting what Prime Minister Pedro Sánchez had claimed just hours earlier. To ensure that the Executive fulfills its responsibilities as a member…

Spanish economy 23rd June 2025

Home sales in Spain rise 2.3% in April to 54,318 transactions, highest April figure since 2008

Link Securities | According to figures released by the National Statistics Institute (INE) and published by Expansión newspaper, the number of home sales rebounded in April by 2.3% year-on-year to 54,318 transactions, the highest figure for this month since 2008. Home sales have now risen year-on-year for ten consecutive months. The year-on-year increase in home sales in April was due to both the upturn in transactions involving new flats, which…

In Europe 23rd June 2025

Inditex CEO says conditions not right for return to Russian market

Link Securities | Inditex (ITX) CEO Oscar García Maceiras said that conditions are not right for the owner of Zara to return to Russia, more than two years after it sold its local business following the invasion of Ukraine, according to the Inditex newspaper. When asked what circumstances would be right for the group to return to the market, the executive told the Financial Times that ‘an environment that is…

European economy 23rd June 2025

IAG estimates Capex of €6 billion and operating profit of €1.4 billion in Strategic Plan

Banc Sabadell | IAG (IAG) presented its strategic plan, ‘Flight Plan 2030’, for Iberia (25% of IAG’s capacity in 2024), with which it hopes to consolidate its position as leader in its main markets. We highlight the main messages: Capacity growth of 3/5% over the next few years, without specifying a period, with LatAm as the main market with expected growth of 5%.In the medium term (no specific period given),…

Spanish economy 22nd June 2025

Textile sector suffering: sales barely grow 0.17% in 2024

Bankinter | Sales in the textile sector in Spain stagnated in 2024 and 2025 is not expected to be ‘the year of recovery’. They grew by 0.17% to €11.04 billion, according to Acotex, the textile trade association. It forecasts heavy summer sales due to excess inventories, which will boost sales, but the end of the year faces high uncertainty. Analysis team’s view: Spending on clothing and discretionary consumption in general…

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