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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.
vivienda españa

Spanish economy 11th March 2025

House prices in Spain up 11.3% year-on-year in Q4 2024 against 8.1% previously, no signs of bubble

Bankinter | The House Price Index, produced by the INE, points to a price increase of 11.3% in Q4 2024 (year-on-year), against 8.1% previously. In quarter-on-quarter terms, up 1.8% versus 2.8% previously). Analysts’ opinion: House prices are a positive surprise and will exceed our forecast of an 8% rise for 2024. They are supported by a strong labour market, supply shortages and interest rate cuts. We expect further price rises…

grifols edificio

Relevant News Item 10th March 2025

Grifols loses over 5% after Securities Market Commission report slams financial management

CdM | Grifols shares lost more than 5% on the stock market on Monday. Last Friday, after the market had closed, a report was published by the National Securities Market Commission (CNMV) that was highly critical of the company’s financial management. According to the report sent by the CNMV to the investigating judge in the case, José Luis Calama, and to which “El Mundo” has had access, Grifols’ top management…

eeuu empleo 640x420 1 1

In the World 10th March 2025

US economy continues to generate employment: 151,000 new jobs in February

Link Securities | The Department of Labour reported that the US economy generated 151,000 net new non-agricultural jobs in February, up from the 125,000 jobs created in January (143,000, initial estimate), although somewhat below the 160,000 net jobs projected by FactSet consensus analysts. The December figure was revised upwards to 323,000 jobs from an initial estimate of 307,000 jobs. During the month, jobs were created in the healthcare sector (52,000…

Congreso

In Spain 10th March 2025

Budgets, housing plan, reduction of working hours, judicial reform, all stalled because government lacks majority in Congress

There are no budgets, nor does the government expect there to be any, at least in the short term. The unblocking of dialogue with Junts, in exchange for new concessions such as shared competencies in immigration, has not managed to clear a legislature that is ‘barren in substantial reforms’… ‘The government’s major announcements, such as the reduction of working hours, housing assistance measures, the democratic regeneration plan, or the modernization…

Indra fachada

Relevant News Item 10th March 2025

Tailwinds for Indra after increase in military spending by at least 1.5% of GDP at EU’s behest: target price up to €30

Intermoney | The EU has urged its governments to increase military spending by at least 1.5 percentage points of GDP, which would imply an increase of around €650 billion in total. To this end, they will present a plan to provide greater fiscal flexibility to governments to boost their defence spending. We have already published a report in which we analysed why allocating 2% of GDP to defence was not…

FederalReserve

World economy 10th March 2025

Atlanta Fed forecasts US GDP to contract by 2.8% quarter-on-quarter in Q1 2025, compared to 2.3% growth expected two weeks ago

Last week, nearly all sectors of the S&P 500 weakened. The financial sector lost significant ground on the 4th (-4.67%), with stocks like Citi and Wells Fargo showing very poor performance. In the technology sector, the biggest setbacks were seen in Intel (-6.2%) and Tesla (-4.5%). President Donald Trump’s tariff policies can be seen as an act of ‘throwing stones on his own roof’ as they create uncertainty, which has…

España bancos

In Spain 8th March 2025

Spanish banks: Headwinds in 1H25 due to risks of somewhat weak NII; downgraded target prices and recommendations, except for Santander, BBVA and Bankinter

Deutsche Bank | Spanish banks have experienced a strong rebound in late 2024 and early 2025 (up 30% year-on-year), significantly outperforming their European peers. Driven by resilient NII, prospects for more stable interest rates and a generally benign macroeconomic environment in Spain supporting activity and asset quality, this positive trend could face potential temporary headwinds. Despite the encouraging results of Q4 2024 and the broadly positive outlook for 2025, the…

repsol banderines

World economy 8th March 2025

As US withdraws Chevron’s licence to export crude from Venezuela, what will happen to Repsol’s strategic assets in Tomoporo and La Ceiba?

Banco Sabadell | According to press reports, the US has withdrawn Chevron’s licence to export crude oil from Venezuela, with the effective date of 3 April. This decision is in response to the failure of the Maduro government to fulfil its electoral commitments and is part of a package of extended sanctions that will also affect companies such as Halliburton, Schlumberger, Barker Hughes and Weatherford, which will have to suspend…

Closed

Spanish economy 7th March 2025

Small businesses in Spain closing at rate of 26 shops a day

Small businesses have experienced a negative trend over the past year, with up to 26 small businesses closing each day, amounting to 9,739 shops that have shut down in the last twelve months, according to data provided by the self-employed association, Uatae. Uatae claims that these figures demonstrate that “small businesses are still in crisis,” due to rising costs, disparities in digitalization, and the strong competition posed by large platforms…

turismo playa

Spanish economy 7th March 2025

Spain receives 5.1 million international tourists in January, spending up almost 9%

CdM | In January, 5.1 million international tourists visited Spain, 6.1% more than in the same month last year, with total spending up 8.9% to €7.132 billion, according to data provided by the National Institute of Statistics (INE). The United Kingdom was the main country of residence, with 863,286 tourists and an increase of 3.6% compared to January 2024. 641,201 came from France (12.2% more) and 537,842 tourists from Germany…