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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.

Spanish economy 28th January 2025

Spain: 21,857,900 million employed… but over 831,000 “fixed discontinuous” employees not working and seeking work

According to data from the Active Population Survey (EPA) published this Tuesday by the National Institute of Statistics (INE), unemployment decreased by 265,300 people in 2024, which represents a 9.3% decrease compared to 2023, while employment grew by 468,100 jobs (3.8%), closing the year with a new record of 21,857,900 employed and a number of unemployed lower than 2.6 million. It is true that this figure does not include the…

Spanish economy 28th January 2025

Repsol plans to enter data centre business with project worth around €4,000 million and 400+ MW

Renta 4 | According to press reports, Repsol is preparing a new leap in its diversification process, with the entry into the data centre business with a project of just over 400 MW. The plan is to be developed in Escatrón, Zaragoza, where it will take advantage of the land, electrical installations and water supply it currently has in the area, which now houses a combined cycle power plant it…

In Spain 28th January 2025

Jupiter Wagons to submit higher offer for Talgo higher than Sidenor group, looking to acquire more than 30% of shares

Alphavalue/ Divacons | Indian group Jupiter Wagons continues with its plans to launch a takeover bid for Talgo and has hired Lazard and Eversheds Sutherland as advisors, according to sources close to the process, Cinco Días reported. Jupiter Wagons is expected to submit a financial offer higher than that of industrial group Sidenor and seek to acquire more than 30% of Talgo’s capital. Talgo shares rose 1.73% on Friday. For…

In Europe 27th January 2025

As UK equities bottom out, IAG stands out as stock with upside potential

Morgan Stanley’s Bruna Sarika, our UK macroeconomist, estimates GDP growth of 0.9% for the UK (consensus is 1.3%) and expects five rate cuts this year. Marina Zavolock, despite the country’s macroeconomic challenges, believes that UK equities have bottomed and sees several stocks with local exposure with upside potential: Barratt Redrow, Tesco, British Land, Severn Trent, National Grid, and Barclays and with global exposure: Experian, IAG, and Reckitt; plus Next.

In the World 27th January 2025

China PMIs deteriorate more than expected

Link Securities | China’s official manufacturing PMI came in at 49.1 in January, below the consensus forecast of 50.1, which had also been the previous month’s reading. Recall that a reading above 50 points indicates expansion in activity relative to the previous month, while a reading below that level indicates contraction. Thus, the reading reflected contraction, and is the lowest level since last August. Production fell into contraction after three…

Spanish economy 27th January 2025

STC now controls 9.97% of Telefónica and requests a seat on its Board of Directors

The Saudi group STC is now the owner of 9.97% of Telefónica’s share capital and will engage in discussions with the operator to obtain a seat on the Board of Directors, according to a communication sent by its investment vehicle Luxco to the U.S. Securities and Exchange Commission (SEC). The STC group, which previously held 4.9% of Telefónica directly, received authorization from the Spanish government last November to control up…

In Spain 27th January 2025

Minimum cost of hiring workers in Spain rises 62% since 2018

The government plans to finalize this week the increase in the minimum wage for 2025, with no signs of reaching an agreement on a figure with employers in the last meeting, having rejected the business offer to raise it by 3% as they deemed it “insufficient.” All indications suggest that the Ministry of Labor, led by Yolanda Díaz, will implement a 4.4% increase according to the highest recommendation from experts…

In the World 25th January 2025

Ferrovial warns of risks of uncertainty of Donald Trump’s government for business in US

Link Securities | The Spanish construction company, in a prospectus sent to investors in a €500-million bond issue, warns that politics in the US remains highly polarised and there is uncertainty about potential changes in federal, state and local regulation, which could increase the risks to its activity in the country, the newspaper Expansión highlights in its edition today. Likewise, Ferrovial also pointed out that diplomatic tension and social unrest…

In Spain 25th January 2025

Grifols brothers linked to investigation by CNMV into accusations by bearish fund Gotham City Research

Link Securities | Judge José Luis Calama of the National Court, who is investigating the Grifols case, has asked the National Securities Market Commission (CNMV) to send him a document supporting Gotham’s accusations, arguing that the Catalan pharmaceutical company omitted relevant data in its accounts and provided the market with inaccurate information, as reported yesterday by the digital newspaper ElConfidencial.com. The regulator’s report, which analyses the accusations of the bear…

Spanish economy 25th January 2025

Telefónica completes elimination of Huawei technology from 5G core in Spain by awarding this to Nokia

Norbolsa | Telefónica España has awarded the second phase of the replacement of the core of its 5G network to the Finnish company Nokia. With this award, and after awarding another part to Ericsson in 2021, it has completed the elimination of Huawei technology from its 5G core. This change is part of a strategy of supplier diversification, as well as the withdrawal of Chinese technology. The core network is…

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