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.
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Cáritas warns of “unprecedented process of social fragmentation” in Spain, with 4.3 million people in situation of severe exclusion

The 9th FOESSA Report, presented this Wednesday by Cáritas Española (Spanish Caritas), has warned of an “unprecedented process of social fragmentation” in Spain, where an “apparent economic boom” coexists with “one of the highest inequality rates in Europe,” leading to “a society of unease” in which 4.3 million people live in a situation of severe exclusion, one-third of whom are minors—that is, 1.4 million children. “Spain is going through an…


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Arbitration proceedings initiated by Sacyr against Panama for Canal expansion works dismissed

Banco Sabadell | According to press reports, UNCITRAL (United Nations Commission on International Trade Law) has dismissed the arbitration proceedings initiated by Sacyr against Panama for the Canal expansion works. We recall that this was a claim for damages that we estimated could be around €1 billion BS based on the Agreement on Reciprocal Protection and Promotion of Investments between Spain and Panama. Assessment: This news has no impact insofar…


Spain industrial production

Eurozone Industrial production prices fall 0.1% in September

CdM | Industrial production prices fell by 0.1% in both the Eurozone and the European Union (EU) in September compared to the previous month, according to initial estimates from Eurostat, the EU’s statistical office. On a year-on-year basis, the decline was 0.2% for the Eurozone, while prices rose by 0.1% in the EU. On a month-on-month basis, industrial production prices in the Eurozone remained stable for intermediate goods and capital…


España PIB ministro

US bank forecasts Spain’s GDP to grow 3.5% in 2024, 2.9% in 2025 and 2.2% in 2026

Alphavalue / Divacons | A leading US bank has revised its growth projections for the Spanish economy upwards, validating the strength of the current expansionary cycle in contrast to the slowdown observed in the rest of Europe. The US financial institution now anticipates Spanish GDP growth of 3.5% for 2024, 2.9% in 2025 and 2.2% in 2026. These new estimates exceed previous forecasts, which stood at 3.2%, 2.7% and 2%…


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China to suspend additional 24% tariffs imposed on US products for one year

Norbolsa | China will suspend for one year the additional 24% tariffs it imposed on US products in April, maintaining the 10% tariffs on all US products introduced in retaliation for the tariffs announced on Liberation Day. In addition, the government announced that it will eliminate tariffs of up to 15% imposed on a range of agricultural products from 10 November, although it will maintain tariffs of 13% on Chinese…


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Redeia’s correction offers appeal: speculative purchase at €15; protective stops below €14.75

Renta 4 | Approaching interesting tactical levels, formed by the lows of January this year, which converge at €15.10 with the upward trend line from the lows of 2020. The chart below shows the reactions over the last ten years to exceeded readings in the weekly indicators, resulting in significant rebounds after a few months. We would place protective stops below €14.75, giving some margin to the aforementioned support zone.


ACS Turner

ACS joins Oracle, OpenIA and Vantage data centre project with €13 billion budget

Link Securities | ACS (ACS), through its subsidiary Turner, has joined one of the largest digital infrastructure projects in the United States, according to Expansión newspaper. This is the data centre complex promoted by Oracle (ORA-US), OpenAI and Vantage in Port Washington, Wisconsin (United States), with an investment budget of $15 billion (around €13 billion) spread over several phases. The US hyperscalers have commissioned a group of contractors to develop…


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Santander ends partnership with Stellantis in US car loan business

Link Securities | Banco Santander (SAN) has ended its partnership with Stellantis (STLAM-IT) in the US car loan business, which had been in place for more than a decade, according to Expansión newspaper. The bank and the automotive group have agreed to terminate the agreement they signed twelve years ago, three months ahead of schedule, which was due to expire in December. Santander and Stellantis remain partners in Europe.


Indra Tecnocom

Lawyer group reports merger between Indra and its chairman’s company Escribano to CNMV

The acquisition of Escribano Mechanical and Engineering (EM&E) by Indra has encountered another adversary. In addition to the opposition from a part of the company’s board of directors —controlled by the State Industrial Participation Company (SEPI) with a 28% stake— due to the conflict of interest inherent in buying the family company of its own chairman, there is now the opposition of the Hay Derecho Foundation. The institution, composed of…


china eeuu dolar yuan

Trump-Xi’s Temporary Truce: What It Means for Taiwan

Alicia Gª Herrero (Natixis) | If the aim of the 30 October meeting between United States President Donald Trump and Chinese President Xi Jinping, in Busan, South Korea, was to ease trade tensions, it can be judged as just about achieved. US ‘fentanyl tariffs’ on China were halved to 10%, bringing US tariff levels on imports from China closer to those applied to other Asian economies.In return, China agreed to…