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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.
portugal oporto

In Europe 15th September 2025

Fitch raises Portugal’s rating from ‘A-’ to “A” with ‘stable’ outlook, highlighting fiscal consolidation and debt reduction

Bankinter | The rating agency Fitch has upgraded Portugal’s rating from ‘A-’ to “A”, with a ‘stable’ outlook, highlighting fiscal consolidation, strong debt reduction and improvements in the external position. Fitch noted that public debt fell from 134.1% of GDP in 2020 to 96.4% in the first quarter of 2025, while public accounts continue to stand out with a projected surplus in 2025 (0.1% of GDP) and moderate deficits in…

iag 1440x808 1

Companies, Relevant News Item 15th September 2025

IAG to participate in Air Europa’s capital increase following entry of Turkish Airlines

Link Securities | IAG (IAG) has decided to participate in Air Europa’s capital increase following the entry of Turkish Airlines into its shareholding structure, as confirmed on Friday by the Spanish-British group, according to a report in Expansión on Friday. Iberia’s parent company acquired a 20% stake in Air Europa in August 2022 after converting a €100 million participatory loan. This was the first step in its second attempt to…

inflation board

Spanish economy 15th September 2025

Spain’s CPI rises to 2.7% year-on-year in August

Although consumer prices (CPI) remained unchanged in Spain in August compared to July, according to the final data released by the National Statistics Institute (INE), Spain’s year-on-year CPI increased by 2.7% through August, the same rate as in July. In August, the group that stood out most for its positive influence on the increase of the year-on-year CPI growth rate was transport prices, whose year-on-year rate rose one point to…

faes farma muro

Companies 12th September 2025

After acquiring Sifi and Edol, CEO says Faes Farma to pause inorganic growth

Link Securities | In an interview with the newspaper Expansión, the CEO of Faes Farma (FAE), Eduardo Recoder, indicated that the acquisitions of Italy’s Sifi and Portugal’s Edol are strategic and transformational. Faes Farma will now pause its inorganic growth to integrate the two companies, although it will remain open to exploring opportunities. These two companies will contribute €130 million to Faes’ business, which had a turnover of €510 million…

EEUU industria

Uncategorised 12th September 2025

US industrial production prices surprise positively in August, rising 2.6%

Bankinter | Industrial production prices surprise positively after rising 2.6% in August (as opposed to the 3.3% expected versus 3.3% previous), with the underlying rate (excluding energy and food) at 2.8% (as opposed to the 3.5% expected versus 3.7% previous). Bankinter analysis team’s view: The impact of tariffs on prices and business margins seems limited, at least for now, although the most important data will be published today at 2:30…

industria central alemania

In Spain, Spanish economy 12th September 2025

Industrial production in Spain falls 0.5% in July; capital goods experience greatest contraction, 3.6%

Link Securities | The National Statistics Institute (INE) reported that industrial production in Spain fell by 0.5% in July compared to June, according to seasonally and calendar-adjusted data. By sector of activity, in July, the production of durable consumer goods rose the most (1.3%), while capital goods experienced the greatest contraction (3.6%). In year-on-year terms, in seasonally and calendar-adjusted data, industrial production rebounded in July in Spain by 2.5% (1.9%…

Acciona

Companies, Relevant News Item 12th September 2025

Acciona: improvements continue in Infrastructure division and at 47%-owned Nordex

Bankinter | The aggregate Infrastructure portfolio is up 7% since December 2024 and has reached a new all-time high. Nordex’s portfolio and profitability are growing. The turbine subsidiary’s portfolio is 12% higher than in December and the EBITDA margin reaches 5.7% compared to 4.1% in 2024. These improvements are reflected in Nordex’s share price, which is up 87% for the year. In the Real Estate division, the value of assets…

IAG new

Companies 12th September 2025

IAG proceeds with full subscription and disbursement of €500 million in bonds maturing in 2030

Link Securities | The airline announced to the National Securities Market Commission (CNMV), in relation to its issue of senior unsecured bonds with an aggregate nominal amount of €500 million, that yesterday, being the closing date of the Issue, it proceeded with the full subscription and payment of all the Bonds. The Bonds (ISIN: XS3170907060) have been admitted to listing on the Official List and to trading on the regulated…

pensions bankrupcy

In Spain 12th September 2025

Bankruptcy Filings Rise 7.4% Through August

Crédito y Caución | According to the tracking of bankruptcy proceedings published in the BOE (Official State Gazette), the business sector saw a 20% year-on-year increase in corporate insolvencies in August. For the year as a whole, this amounts to a 7.4% increase compared to the same period in 2024. By the end of August, 4,034 bankruptcy proceedings had been initiated in Spain, compared to the 3,757 that had been…

iberdrola neoenergia brasil

Companies 11th September 2025

Iberdrola takes additional 30% stake in Brazilian subsidiary Neoenergia for €1.88 billion, bringing total stake to 84%

Renta 4 | Agreement (subject to the relevant regulatory approvals) to purchase 30.29% of Neoenergia, the listed Brazilian subsidiary, with Caixa de Previdência dos Funcionários do Banco do Brasil for an amount of R$11.95 billion (€1.88 billion) at a price of R$32.5 (equivalent to approximately €5.12) per share, subject to possible adjustments. This price represents a premium of 15% over the last trading price, equivalent to an EV/EBITDA multiple of…