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No fine for Spain

THE EU executive has backed down on its pledge to sanction Iberian duo Spain and Portugal for failing to meet deficit targets, with commissioner, Pierre Moscovici, citing current anti-EU sentiments sweeping the continent as the main reason for the about face. “Sanctions, even symbolic ones, would not have been understood…

Good news on the job front

ACCORDING to figures released by the Spanish government, unemployment in June fell by a staggering 124,349 people to just under 3.8 million people out of work which is a 3.2 per cent drop in a month, 8 per cent in a year and is now at its lowest level since…

Cadbury owner tries to take over

NOT so long ago, drug companies were desperately trying to merge in order to increase their ability to reduce taxes and costs, but now it seems that chocolate (also seen by some as a drug) is the latest area of proposed joint activity. This time, Mondelez, said to be the…

Hopefully the rats won’t desert the sinking ship

WHILST it is painful to say anything nice about bankers, who have definitely taken over from estate agents and lawyers as those ‘professionals’ we most love to hate, to some extent it is understandable that they should be considering leaving London and the City for pastures new. In the same…

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ITV which is responsible for the production of such popular…

Nigeria is to devalue naira

AS previously reported, Nigeria, one of Africa’s potentially strongest economies which depends so heavily on oil revenues, has been experiencing significant troubles with obtaining foreign currency. Having blocked credit cards and transfer of funds out of the country, the black market rate between the dollar and naira has doubled over…

BHS blame shifts to current owner

AFTER the furore that accompanied allegations against Sir Philip Green and the impending closure of BHS, the most recent owner, Dominic Chappell has been branded a ‘liar’ who had his ‘fingers in the till’ by former BHS managers at a Commons enquiry into the financial woes of the company. Darren…

Uber car hire continues to grow

HATED by taxi drivers and loved by those who want a cheap ride, the American corporation Uber, operator of the Uber mobile app, which allows consumers with smartphones to submit a trip request that gets routed to Uber drivers who use their own cars, has just received a €3.15 billion…

Latest view from Currencies Direct on exchange rates

As we edge ever closer to the EU referendum on 23 June, all eyes turn to ITV at 10pm Spanish time tonight (June 7), where David Cameron and Nigel Farage will face questions from a live studio audience. Recent polls suggest that the Leave campaign has witnessed a sharp rise…

Sacyr’s request for more money

THE Spanish construction group Sacyr, the leader of the consortium Grupo Unidos por el Canal (GUPC), confirmed that it had now completed the work that it had been commissioned to undertake on the Panama Canal and that the first ship will pass through the expanded third lock on June 26.…

Aston Villa FC sold to China

AMERICAN billionaire Randy Lerner has agreed to sell recently demoted Aston Villa Football Club to minority shareholder Chinese businessman Dr Tony Xia for £60 million (€78 million) and a spokesman for the club said that Mr Lerner had “sought the right owner to take care of the club and restore…

Adidas and Chelsea to part company

IN what is said to have been by mutual agreement, Chelsea will not have their kit supplied by Adidas after the end of next season and provided they pay what could be a substantial amount to buy out the remaining years of their contract, they will then be able to…

Rotten news for Apple as they lose lawsuit in China

ALTHOUGH often touted as a company that cares about people, Apple does have a bit of a reputation for understandably trying to protect its trademark by going to law, but on this occasion it has received a verdict which will not be to its liking. The Beijing Municipal High People’s…
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