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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.
portugal economia

In Europe 29th October 2025

Portugal approves 2026 budget, sign of stability after last year’s political crisis

Bankinter | With votes in favour from the PSD (Social Democratic Party) and the CDS (Democratic and Social Centre) — which form the AD coalition —, the abstention of the PS (Socialist Party) was enough for the government to pass its first major parliamentary test. The document now enters the speciality phase, in which the various parties may table amendments, although the government has already warned that the scope for…

redeia fachada

Companies 29th October 2025

Redeia earns €390 million in 9M25, 4.6% less than in 9M24

Renta 4 | Revenue is slightly up in line with our forecast due to higher revenue from transport activity due to the application of the TRF published in the draft and new commissioning, which are partially offset by lower unit values and the amortisation of RAB, as well as good performance in Peru and Chile offset by the exchange rate in Brazil, while turnover continues to decline in Reintel due…

IAG 1

Companies 29th October 2025

IAG reduces share capital following redemption of 244.27 million treasury shares

Link Securities | In relation to the redemption of 244,274,863 IAG treasury shares through a reduction in share capital, the company announces that the public deed of capital reduction through the redemption of the aforementioned shares and amendment of the articles of association was registered in the Madrid Mercantile Registry on 20 October 2025. The redeemed shares will be excluded from trading on the relevant stock exchanges in the coming…

Naturgy

Companies, In Spain, Relevant News Item, Spanish economy 29th October 2025

Naturgy’s 9M25 profit grows 6% year-on-year to €1.668 billion

Norbolsa | The company posted a net profit of €1.668 billion (+6% year-on-year) and EBITDA of €4.214 billion in 9M25, in line with record levels and with the target of exceeding €2 billion at year-end. The company maintains a solid financial profile (DN/EBITDA <2.5x) and a minimum total dividend of €1.70/share within the 2025–27 plan. Among the most notable milestones of the period, the free float increased to 18.8% from…

Santander

Companies, Spanish economy 29th October 2025

Santander: Profit rises 11% to €10,337 million in first nine months of year

Santander posts record nine-month results, with earnings per share up 16% and growing seven million customers to 178 million. Revenue was stable (€46.3 billion), with the bank achieving record net fee income (up 4% year-on-year). Operating expenses fell by 1%. As a result, the efficiency ratio improved to 41.3%. Loan-loss provisions fell 1% with improved cost of risk at 1.13% (-5 basis points). Non-performing loan ratio of 2.92%, improving 14…

pensiones cuquis

In Spain 29th October 2025

Spending on contributory pensions in Spain rises 6% in October to €13.6758 billion

CdM | Contributory pensions (retirement, widowhood, permanent disability, orphanhood and family benefits) rose by 6% in October to €13.6758 billion, according to data released by the Ministry of Inclusion, Social Security and Migration. In the eighth month of the year, Social Security paid a total of 10,397,372 pensions to 9,405,352 million people. Almost three-quarters of these were retirement pensions, representing more than 73% of the total (€9,999.2 million, up 6.01%)….

coches aparcamiento

European economy, In Europe 29th October 2025

Car sales in Europe up 10% in September, best figure since April 2024, with Spain leading the way

Bankinter | Car sales rose by 10% in September, compared to 5.3% previously. Bankinter analysis team’s view: This is the best figure since April 2024. Among the increases, the following stood out (year-on-year): Cupra (up 48.4%), Stellantis (11.5%), Skoda (10.9%), Volkswagen (9.6%), Citröen (29.4%), Opel (14.6%) and Alfa Romeo (71.8%). Chinese brands once again recorded strong sales growth, such as SAIC Motor (75.5%) and ByD (398%). On the negative side,…

Iberdrola edificio

Companies, Spanish economy 28th October 2025

Iberdrola earns €5.307 billion in 9M25, up 16.6% adjusted thanks to networks division

Bankinter | Beats earnings and revises full-year guidance upward. The networks division drives growth for the group. Key figures compared to consensus: Adjusted EBITDA (x capital gains from asset sales and provisions) €12.438 billion (up 7.7%) versus €12.117 billion estimated., Adjusted BNA: €5.116 billion (up 16.6%) versus €4.932 billion estimated. Revises upward its guidance for the year, from high single-digit net profit growth to double-digit growth, exceeding €6.6 billion. Bankinter…

amper2

Companies 28th October 2025

Amper to design, supply, and install Mobile Air Traffic Control Tower in Saudi Arabia

Link Securities | The company will be responsible for the design, supply, and installation of a Mobile Air Traffic Control Tower (MATC) for NERA, the leading aviation technology and solutions company in Saudi Arabia, as a local partner and systems integrator, and for Saudi Air Navigation Services (SANS). The project provides a turnkey solution that ensures operational continuity at Saudi airports in the event of emergencies, disruptions, or renovations to…

road traffic oil demand

Companies, European economy 28th October 2025

UK cancels FCC’s €1.95 billion motorway project near Stonehenge

Bankinter | According to press reports, the United Kingdom has announced the cancellation of the project to build a motorway near Stonehenge. We recall that the project was awarded in 2022 to a consortium formed by FCC, Webuild, and BeMo Tunnelling and had a budget of around £1.7 billion (approximately €1.95 billion). According to the same source, FCC had completed the design work but had not yet begun construction. Assessment:…