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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.
china workers TC

In the World 3rd November 2025

China’s manufacturing PMI declines in October due to slower growth in new orders from foreign sector

Bankinter | The Manufacturing PMI (RatingDog) declines in October. It stands at 50.6 vs. 51.2 previously and 50.8 estimated. Since August 2025, the Caixin PMI has changed its name to the RatingDog PMI. The universe of companies surveyed by RatingDog (650 companies in total) is more focused on private companies of different sectors and sizes, weighted by their contribution to GDP. The Chinese government’s official PMI focuses on state-owned enterprises…

manufactoring Spain

European economy, In Europe 3rd November 2025

Eurozone manufacturing sector expands in October for eighth month running

CdM | The eurozone manufacturing sector expanded once again. However, the pace of growth remained steady, according to the PMI index. In fact, although October marked the eighth consecutive monthly expansion, the pace of growth was moderate overall and slightly weaker than the average observed during the current expansion sequence. ‘We can speak, at best, of an incipient outbreak of economic recovery.’ ‘Production has increased for the eighth consecutive month,…

Telefonica novisima

Companies 3rd November 2025

Telefónica could announce dividend cut from €0.03 to €0.02 per share in new Strategic Plan

Bankinter | Telefónica (TEF) will present its new Strategic Plan tomorrow, 4 November, replacing the previous 2024/2026 plan. In this plan, Telefónica could announce a dividend cut from the previous €0.3 per share for the years covered, according to media reports. Bankinter analysis team’s view: We believe that the probability of this happening is high. According to statements by its CEO, Telefónica has lofty ambitions, with the intention of actively…

acerinox

Companies, Relevant News Item 3rd November 2025

Acerinox’s profit falls 95.7% in quarter marked by uncertainty and slowing demand

Link Securities | Acerinox (ACX) presented its results for the first nine months of the year (9M2025) on Friday, from which we highlight the following aspects: ACX highlighted that 9M2025 has been marked by uncertainty, and after two consecutive years of significant contraction in apparent demand, the sector remains at low levels, with a much slower recovery than initially projected.ACX’s turnover was €4.473 billion in 9M2025, 9.4% higher than the…

minimum living wage

Spanish economy 3rd November 2025

No longer any difference in Spain between minimum wage (€15,120) and most frequent salary (€15,575)

The urgency with which the minimum wage (SMI) has been increased in Spain (a 46% rise just between 2018 and 2023, triple the increase of the preceding decade) clashes with companies’ real capacity to absorb it. And this has an impact: if the nominal SMI was equivalent to 60% of the modal (most frequent) salary in 2018, it reached 97% in 2023. Thus, in Spain, the interprofessional minimum wage is…

europa detalle billete

European economy, In Europe 31st October 2025

Eurozone Economic Sentiment rises 1.2 points to 96.8 in October despite crisis in France and delays in reforms in Germany

Singular Bank | According to the European Commission, in the final reading for October, the Eurozone Economic Sentiment Indicator (ESI) rose 1.2 points to 96.8 points, despite political uncertainty in France and delays in the Merz government’s reforms in Germany. This development was mainly driven by a notable rebound in confidence in the industrial, construction and retail sectors. In more detail: Industrial Sentiment -8.2 versus -10.0 expected versus -10.3 previous;…

china workers TC

In the World 31st October 2025

Manufacturing activity in China loses momentum in October, lowest level in seven months, due to tariffs

Bankinter | Manufacturing activity falls more than expected in October in China. Manufacturing PMI: 49.0 points versus 49.6 expected and 49.8 previously; Services PMI 50.1 versus 50.0 expected and Composite PMI 50.0 versus 50.6 previously. Analysis team’s view: Weak figures. Manufacturing activity lost momentum in October and entered contraction territory (<50 points). This is the lowest figure in the last seven months and reflects that the impact of tariffs is…

puig preciosa

Companies 31st October 2025

Puig Brands reports net sales of €1.3 billion in Q3 2025 thanks to new Amazon channel used by Makeup segment

Alphavalue / Divacons | The Spanish cosmetics company presented its Q3 2025 trading update yesterday after the close of trading. Net sales of €1.3 billion (up 3.2% year-on-year) compared to the €1.28 billion expected by the consensus. These quarterly results exceeded expectations, driven by exceptional momentum in the Makeup segment and continued strength in Asia. The makeup segment benefited significantly from Amazon’s new distribution channel, which accounted for approximately half…

enagas

Companies 31st October 2025

Enagás acquires 100% of Axent with purchase of 51% it did not already own for €37.8 million

Banco Sabadell | The company has completed the acquisition of 51% of the share capital of Axent Infraestructuras de Telecomunicaciones, S.A., up to 100% of its capital, which was announced in July. The price paid amounts to €37.8 million and the transaction will generate an estimated positive impact on 2025 after-tax profit of close to €16 million (almost 6% of the expected 2025 BDI) due to the accounting revaluation of…

InmoColonial

Companies 31st October 2025

Colonial’s chairman not ruling out possibility of takeover bid

Renta 4 | The financial newspaper El Economista features an extensive interview with Colonial’s chairman, Juan José Brugera, in which he reviews the company’s current situation and various aspects of the property market. We would highlight the following aspects of the interview: 1) the gradual improvement in the oversupply in Barcelona’s 22@ district; 2) he leaves the door open to the possibility of exploring new geographical markets such as Germany…