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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.
ArcelorMittal

In Europe 7th February 2025

Arcelor Mittal’s 4Q24 results show weakness in operating terms due to additional charges but Ebitda beats expectations

Bankinter | 4Q2024 EBITDA better by Joint Venture. Raises dividend and expects demand to improve in 2025. Tariff risk and overcapacity in the sector remain. Key figures compared to the company’s consensus for 4Q24: Revenues $14,714m (+1.1% year-on-year, -3.2% year-on-year); EBITDA $1,654m (versus +13.8% year-on-year and +4.6% year-on-year) versus $1,529m estimate (margin stood at 11.2% from 10.4% 3Q2024). NAB -$390m (versus $2,966m in 4Q 2023 and +$287m in 3Q 2024)…

tecnicas reunidas 777x400 1

In the World 7th February 2025

Técnicas Reunidas closes $3.394 billion contract in UAE with Abu Dhabi National Oil Company

Bankinter | Técnicas Reunidas has informed the National Securities Market Commission (CNMV) that it has been awarded a contract in the United Arab Emirates for a total amount of $3.394 billion. Specifically, it will develop oil exploration and production facilities for Abu Dhabi National Oil Company (Adnoc). The project is estimated to last five years and is a turnkey deal. Opinion of the analysis team: Positive news. The contract is…

Closed

Spanish economy 7th February 2025

Spain: Bankruptcy proceedings rise by 34% in January

Spain recorded a total of 855 bankruptcy proceedings and 4,533 dissolutions in the first month of the year, representing an increase of 34% and 3%, respectively, according to data published this Thursday by Informa D&B. It is the smaller companies, specifically microenterprises, that account for the majority of the bankruptcies initiated in January, at 81%. Small enterprises make up nearly 17%, medium-sized enterprises account for 2%, and only one large…

ACS novisimo

Spanish economy 6th February 2025

41.01% of ACS holders decide to receive flexible dividend of €0.454/share in cash

Link Securities headquarters| In relation to the second execution of the bonus share issue approved by the General Shareholders’ Meeting of ACS (ACS) on May 10, 2024 to implement an optional dividend system, the company announces the following: The irrevocable commitment to purchase rights assumed by ACS has been accepted by holders of 41.01% of the free allocation rights, which has determined the acquisition by ACS of 111,416,240 rights for…

Botin Santander

In Spain 6th February 2025

“We are giving Spaniards cheaper mortgages today than what we lend to the State,” explains Santander president

“And corporate credit in Spain is now cheaper than in Germany, according to data from the ECB survey” (3.69% vs 3.70%), emphasized the president of Spain’s largest bank, Ana Botín, who saw a rise of more than 8% in the stock market yesterday after announcing profits of €12.574 billion (up 14%) with a revenue increase of 10%. (https://t.co/TUaTQ8qTGE ) The board intends to increase shareholder returns and also announces a…

Ferrovial construcción

In the World 6th February 2025

Ferrovial to modernise electrical infrastructure between Grain and Tilbury for National Grid for €276 million

Alphavalue / Divacons | The Spanish construction, services and concessions company, through its UK Construction division, will carry out the £230 million (around €276 million) project to modernise the electrical infrastructure between Grain and Tilbury for its new client, National Grid, which manages the UK’s electricity grid. The project is part of a broader programme of infrastructure modernisation and improvement promoted by National Grid as part of The Great Grid…

airtificial robot

In the World 6th February 2025

Airtificial signs two automotive projects, one in China and one in India

Link Securities | Airtificial (AI), through its Intelligent Robots business unit, has signed two automotive projects for the design, manufacture and turnkey delivery of linear systems in India, for the assembly and verification of driving systems, and in China, for the assembly of electric steering, according to the Bolsamanía portal. Their manufacture is part of the company’s global geographical diversification plan, and they strengthen its position in electric mobility, while…

donald trump

In the World 5th February 2025

Mexico and Canada negotiate with Trump to delay tariffs in exchange for stricter measures against immigration

BancaMarch | First Mexican President Claudia Sheinbaum and then Justin Trudeau negotiated through telephone conversations with Trump to delay tariffs in exchange for stricter measures to combat immigration and cross-border drug trafficking. The planned measures consisted of imposing tariffs of 25% on imports from Mexico and Canada, with the exception of Canadian energy products, which would be subject to a 10% tariff. The White House executive orders do not contemplate…

Employment

In Spain 5th February 2025

Government approves reduction of working hours to 37.5, but it still lacks necessary support in Congress

The Government approves the reduction of working hours to 37.5 hours, although it still lacks the necessary support in Congress. The employers’ association CEOE accuses the Minister of Labor, Yolanda Díaz, of sabotaging “social dialogue” and negotiating a reduction in working hours between the Government and unions that should have been discussed among social agents. The employers’ refusal to negotiate – as many agreements already have shorter working hours and…

eeuu supermercado consumo

In the World 5th February 2025

PCE rebounds in December to 2.6% year-on-year, core remains at 2.8%

Link Securities | The Commerce Department released on Friday that personal income rose 0.4% in the US in December from November, a reading that was in line with the FactSet consensus of analysts’ expectations. Compensation of employees rose 0.4 per cent in the month, driven by private wages and salaries (0.4 per cent). Personal spending rose 0.7% in December from the previous month, significantly more than the 0.5% expected by…