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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.

In Europe 10th December 2024

Iberdrola obtains production licence for construction of Portugal’s largest wind farm, with around €350-million investment

Link Securities | Iberdrola (IBE) has obtained the production licence from Portugal’s Directorate General of Energy and Geology (DGEG), marking another step towards the construction of Portugal’s largest wind farm, Bolsamanía reported on Monday. The project, located in the districts of Vila Real and Braga in the north of the country, which combines wind and hydro power, has a total investment of around €350 million. With an installed capacity of…

In the World 10th December 2024

China to adopt ‘moderately loose’ monetary policy in 2025 to support economic growth

Bankinter: China is to adopt a “moderately loose/lax ’ monetary policy in 2025 to support economic growth. This is the first strategic shift in monetary policy since 2010 towards a ‘prudent’ monetary policy. In addition, the Politburo announces the implementation of more proactive fiscal policies, in order to ‘vigorously’ boost consumption and expand domestic demand in ‘all directions’. Opinion of Bankinter’s analysis team: The Chinese government has five fixed monetary…

In Spain 10th December 2024

Eurogroup asks Spain, Belgium and Austria for 2025 budget plan

Spain, Belgium, and Austria are the only eurozone countries that have not yet submitted their accounts for next year. However, Spain is the only one of the three countries that does not have a caretaker government and cannot blame the delay on an electoral call. Countries were required to submit their budget plans to the European Commission by October 15. In a joint statement, the finance ministers of the eurozone…

In Spain 10th December 2024

Merlin Properties loses interest in increasing 14.16% stake in Crea Madrid Nuevo Norte

Link Securities | According to various sources consulted, the REIT, which is currently a 14.16% shareholder in Crea Madrid Nuevo Norte (CreaMNN), the developer of the project, has lost interest in increasing its stake in this large development, as reported by elEconomista.es. For several years, the company publicly announced its intention to become a leading partner in what will be Madrid’s largest new neighbourhood. However, now the focus of the…

In Spain 10th December 2024

CNMC freezes 2025 airport charges in 2025 because Aena “too conservative in forecasting traffic”

Banco Sabadell | The National Commission for Markets and Competition (CNMC) has rejected Aena’s proposal to raise airport charges by about 0.5% in 2025, admitting that the claims of some airlines were justified. It argues that Aena was too conservative in forecasting traffic, which has in fact gone up twice during the year. Assessment: Negative news with limited impact. We already included this increase in our estimates and P.O. although…

World economy 10th December 2024

OPEC to delay planned 180,000 bpd production hike by three months due to China’s economic slowdown

Bankinter: OPEC is to delay the planned production increase of 180,000 barrels per day by three months. This is positive, if not unexpected, news for oil. The current OPEC cuts amount to 5.86 million barrels of oil per day (bpd), which corresponds to around 5.7% of world oil demand. Within the aforementioned cuts, 3.66M bpd will be extended until the end of 2025 and the remaining 2.2M bpd will start…

In Spain 9th December 2024

Redeia commits to marine energies and eyes taking over country’s marine substation network

Link Securities | The company wants to become the monopoly of the marine electricity network, according to the newspaper elEconomista.es. Redeia is looking for new business niches to strengthen the company’s growth and has set its sights on the development of marine energy, mainly wind power. According to several industry sources consulted by this newspaper, the system operator has already shown the Government its interest in taking charge of the…

In the World 9th December 2024

Mercosur, “an economic opportunity and a political necessity” for EU, says Von der Leyen, but “an unacceptable pact” for France

Link Securities | The President of the European Commission (EC), Ursula von der Leyen, on Friday in Montevideo closed the trade agreement with the Mercosur countries that the European Union (EU) has been negotiating with this region for 25 years. The agreement is still flatly opposed by France, whose President, Emmanuel Macron, warned the day before that the pact in its current state “is unacceptable”, although he failed to stop…

In Europe 9th December 2024

Eurozone GDP grows 0.4% in Q3 2024

The Gross Domestic Product (GDP) of the Eurozone expanded by 0.4% in Q3 2024 compared to the previous quarter, in line with its preliminary reading and marking its highest quarterly growth rate in two years, following the 0.2% increase in Q2 2024. Household consumption (+0.7%), the rise in gross fixed capital formation (+2.0%), and inventories were the largest contributors, with public spending also recording an increase (+0.5%). On the other…

In Europe 9th December 2024

Improvising a new government for France

The weekend ends with a focus on France, following the resignation of Prime Minister Michel Barnier due to the no-confidence motion backed by Marine Le Pen’s far-right party. According to Le Pen, the outgoing administration’s plan to bring the budget gap down to 3.0% by 2029 was not credible for the country, and a “reasonable trajectory” based on wealth creation and savings is needed. “We want to absorb the deficits,…

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