Catching up with recent finance news in brief from Spain and UK

A jellyfish bloom can close down a nuclear reactor Credit: Stephanie Booth flickr

CATCHING up with recent finance news in brief from Spain and UK compiled for readers by Euro Weekly News.

Jellyfish alert

NUCLEAR power stations are invariably situated by rivers or more often on coasts because they need the cooling power of water but what has come as a surprise and caused some shutdowns across Europe has been the arrival of large numbers of jellyfish blocking intake pipes.

Bank rate

AGAINST all odds and an ongoing rise in inflation, the Bank of England decided on November 4 (to the surprise of many financial commentator) not to raise interest rates but to leave them at their all-time low of 0.1 percent for the time being.

Spanish budget

GOOD news for the Spanish Government as its proposed 2022 budget sailed through its first vote in Congress on November 4 with all seven amendments proposed by opposition parties voted down so at this stage there will be no need for a budget rethink.

Catch 22

IN order to be able to move to a net zero energy position by 2050, the head of Shell has told the BBC that the only way this can be achieved is by continuing to exploit new oil and gas reserves to afford the change.

House prices

ALWAYS a good benchmark for property prices in the UK, the Nationwide Building Society, a major mortgage lender, has announced that a typical UK home now costs more than £250,000 for the first time after prices rose by 9.9 per cent in the last year.

Car sales

THE number of sales of second-hand cars has shot up in Spain since many fear that their will be a shortage of new cars on the market due to the ‘chip crisis’ with prices rising and some dealers reportedly holding events to mass purchase vehicles.

Gone bust

YET another five UK energy suppliers have closed down due to the ever-increasing cost of wholesale gas prices according to Ofgem. Omni Energy Limited, MA Energy Limited, Zebra Power Limited, CNG Energy Limited and Ampoweruk Ltd who between them had around 24,000 customers join 15 other casualties.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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