Top Stories

Articles by The Corner

About the Author

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 economia

In Europe 4th March 2025

S&P confirms France’s rating at AA-/A-1 due to uncertain fiscal strategy, raises Portugal’s to A from A- due to current account surpluses

Bankinter | S&P confirms the AA-/A-1 rating of France, but downgrades the Outlook from Stable to Negative. It cites a weakening of public finances. The Budget for 2025 has been approved and proposes a reduction of the deficit of 0.4% of GDP, but the fiscal strategy from 2025 is uncertain. In addition, S&P forecasts GDP growth of <1% in 2025, making the goal of fiscal consolidation even more difficult. In…

Deoleo

Relevant News Item 4th March 2025

Italian tax agency notifies Deoleo of payment demand for €64.7 million

Link Securities | Deoleo (OLE) informed the National Securities Market Commission (CNMV) that it has received a payment demand (Cartella de Pagamento) from the Italian tax agency (agenzia delle Entrate Riscossione) corresponding to the Italian Tax Contingency. The sum to be paid by Carapelli Firenze under the Payment Order finally amounts to €64.7 million, compared to the $89 million initially estimated with a criterion of prudence and communicated to the…

Telefonica

In Spain 4th March 2025

Telefónica president calls on EU to modify regulations to ‘consolidate and grow’

The executive chairman of Telefónica, Marc Murtra, emphasized on Monday in Barcelona, during his participation in the opening session of the Mobile World Congress (MWC), the need for Europe to allow consolidation in the European telecommunications sector so that operators can gain size and strengthen their technological potential. “We must be aware that the excessive fragmentation of European TMTs, excessive regulation, and insufficient profitability in the sector have hindered Europe,…

IAG new

European economy 4th March 2025

IAG pays UK HMRC €673 million for VAT claim linked to IAG Loyalty programme

Bankinter | IAG, the parent company of Iberia and British Airways, has paid £557 million (around €673 million) to the British Customs and Revenue service in relation to the VAT claim for flights redeemed in its loyalty programme (IAG Loyalty). The UK requires it to pay a 20% tax rate, regardless of the product being redeemed. Analysis team opinion: News with little impact because it is not surprising. It coincides…

Repsolito 1

World economy 4th March 2025

Repsol buys 40% of Unioil and strengthens presence in Philippines and rest of Southeast Asia

Renta 4 | Repsol has reached an agreement to acquire 40% of Unioil, a Philippine lubricant manufacturer. This acquisition will allow it to strengthen its presence in the Philippines and Southeast Asia and add a fifth manufacturing plant to those already existing in Spain, Mexico, Singapore and Indonesia. At the end of 2024, Unioil had a total production capacity of 25,000 tonnes. Assessment: Qualitatively positive news, which is in line…

cellnex1 655x368 1

European economy 3rd March 2025

Phoenix Tower International acquires 100% of Cellnex’s business in Ireland for €971 million

Alphavalue / Divacons | The Spanish communications tower company and Phoenix Tower International closed the deal announced on 5 March 2024, whereby PTI has acquired 100% of the Irish telecommunications tower and infrastructure operator for €971 million. ‘As we announced at the results presentation, next Monday we will begin the share buyback programme of up to €800 million as the first step in our unequivocal commitment to shareholder remuneration. It…

EEUU consumidores conference board

In the World 3rd March 2025

January Private Consumption Deflator in US drops one tenth, underlying rate two

Banca March | The review of US GDP for Q4 reveals little new, confirming the slowdown in growth from the previous 3.1% to 2.3%, with private consumption continuing to be the driving force of the economy. As for inflation figures, the PCE gives some respite by coming in line with expectations and showing a lower contribution from the services item. When analysing the year-on-year rates, the general rate has dropped…

unemployment office

Spanish economy 3rd March 2025

Spain had 3,927,346 unemployed at end 2024 (1.3 million more than officially ‘registered unemployed’)

José Luis Fernández Santillana, Director of the USO Studies Office | A job seeker is a person who registers with public employment services, either because they have lost their job and are looking for a new one (regardless of whether they are entitled to unemployment benefits), seeking their first job, or being employed (having a job) and looking for an improvement in their work situation (a broader or better-paid position),…

telefonica edificio

In the World 3rd March 2025

Milei threatens to block sale of Telefónica to Telecom to prevent creation of monopoly

Link Securities | The president of Argentina, Javier Milei, has threatened to block the sale of Telefónica (TEF) in the country to Telecom, considering that it would create a monopoly formed thanks to decades of state benefits, according to Bolsamania.com. Depending on the versions circulating about the potential acquisition of Telefónica by Telecom, of the Clarín Group, the National Communications Agency (ENACOM) and the National Commission for the Defence of…

BBVA Sabadell 2

Relevant News Item 3rd March 2025

Second adjustment to exchange ratio: 1 BBVA ordinary share and €0.70 in cash for every 5.3456 Banco Sabadell ordinary shares

Renta 4 | BBVA will proceed to adjust the exchange ratio according to the dividends announced by both entities, Sabadell for an amount of €0.12/share to be paid on 28 March, and the payment to be made by BBVA on 8 April (ex-date) for an amount of €0.41/share.The new exchange ratio is set at: 1 newly issued BBVA ordinary share and €0.70 in cash for every 5.3456 Banco Sabadell ordinary…