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.
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UK high tech manufacturers expect to gain market share from their EU competitors

LONDON | The UK high tech manufacturing sector still remains positive about prospects for 2012 according to a new survey. Respondents felt the current euro zone situation could provide UK high tech manufacturers with opportunities. 30% said that the UK had generally become more competitive than other major European economies. The health of the sector was reflected by 84% of the respondents saying they were either busy or operating almost at…

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The European Commission promotes EU-India IT research

LONDON | The Open Group and the Interactive Technology Software and Media Association (ITSMA) have partnered with a consortium of leading European and Indian research and technology developers to identify future areas for coordination of government funded IT research. Supported by the European Commission, the Fostering Cooperation in Computing Systems for EU and India (EU-INCOOP) project is investing over €460,000 to bring together leading researchers from India and Europe to identify priorities and develop a joint research roadmap that…

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UK investment firms expect a flat 2012

LONDON | Both the FTSE 100 and Dow are expected to make modest gains by the end of 2012, according to a survey of 100 senior representatives of investment firms. The euro is expected to deteriorate further compared to sterling, while the US dollar would increase in value. However, the majority interviewed thought that President Obama’s government had not done enough to stimulate the economy in the US. The survey was…

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Zara founder buys skyscraper Torre Picasso for €400m

MADRID | Spanish construction company Fomento de Construcciones y Contratas SA (FCC) seeks the strengthening of its financial structure through two real estate divestments and the move to a new headquarters. This week, Pontegadea Inmobiliaria has acquired Torre Picasso to the founder of the Zara boutique chain for €400m; in another transaction, FCC has sold its Balmes (Barcelona) and Federico Salmón (Madrid) buildings for €60m. The process of restructuring the…

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Barclays: “US vulnerable to markets’ attacks like the EU”

A note from Barclays Spain: “The Fed’s double mandate (inflation and employment) has probably contributed to the present crisis. Greenspan, faced with the necessity to improve the anemic growth, but probably to a greater extent faced with the pressure exerted by Congress and American society to create employment, (which still has not picked up despite the GDP’s increase) maintained interest rates low for too long, promoting together with other factors…

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Britons embrace austerity

LONDON | More than one in two adults (56%) said they planned to cut back on their spending. Women were more prone to this than men (59% to 50%). More than one in three people (37%) wanted to try to save more money each month whilst 36% said a key resolution was to cut down their debts. The research showed an attitude-divide between the young and old with the under 35s top financial resolution focusing…

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Foreign tourists in Spain spend 8.1% more than in 2010

The amount of money spent by international tourists visiting Spain from January to November 2011 was €49.985 billion, that is 8.1% more than last year according to figures reported in the Survey of Tourist Expenditures (Egatur) of the Ministry of Industry, Tourism and Commerce. The average expenditure per tourist stood at €929 in the first eleven months, 0.2% more than during the same period in 2010, while average daily spending…