Business Extra – News in Brief

Rare minerals SUSANA TIMON, who heads Spain’s Geology and Mining Institute, said that Spain is geologically complex with “great mineral wealth.” As a leading producer of copper, strontium and wolfram, she said evidence suggested it would  be “interesting” to exploit Spain’s lithium, cobalt, nickel and rare earths.

Record year SANTANDER, like BBVA, Sabadell and Bankinter, has had a record year, with profits of €9.6 billion, 18 per cent more than in 2021. The bank will distribute 40 per cent of this, more than €3.8 billion, amongst shareholders split evenly between dividends and share buy-backs.

Job choice UK supermarket chain Tesco is cutting 1,750 shop manager and team leader jobs, offering staff the option of moving to lower-paid shift leader roles or redundancy.  Those staying can take a lump sum to compensate the shortfall or receive the same pay for two years.

Slowdown UK car production fell by 10 per cent last year in its worst performance since 1956, the  Society of Motor Manufacturers and Traders said. The struggle to obtain parts during the pandemic and semiconductor shortages hit the sector worldwide, but Britain was also affected by factory closures.

Happy Iceland CHRISTMAS sales broke records for £4 billion (€4.5 billion) family firm Iceland whose share of frozen food spending now rivals Tesco.  Chairman Richard Walker, who has taken over from his father Malcolm, also plans to enter politics but insisted this would not be a distraction.

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