Business Extra for the UK and Spain

Business Extra for the UK and Spain

AVON: Founder David H McConnell with partners Adolph Goetting and Alexander Dawson Henderson Photo credit: CC/Alllied-Avon Family Album

Ding-dong gone THE Avon cosmetics company announced that it would open shops in the UK for the first time in 137 years.  The company had to change its selling strategy, Avon’s chief executive Angela Cretu said, now that there are fewer stay-at-home wives and mothers, with most women working outside the home.  

Going down FOR the first time in 18 months, Spain’s year-on-year food inflation dropped below 10 per cent in October to 9.5 per cent although olive oil rose by 74 per cent.  Lower prices helped the Consumer Price Index to remain at 3.5 per cent, unchanged from September’s figure, Spain’s National Statistics Institute (INI) said.

Don’t do it PURCHASE scams are responsible for the majority of banking sector fraud cases, said online bank Monzo.  “Unless you pick up the goods at the same time, don’t even think about it if a seller on Facebook Marketplace or a similar website insists on a bank transfer, however plausible it sounds,” Monzo said.

 Not so good BETWEEN April 1 and September 30, Vodafone España’s revenue fell 1.8 per cent to €1.93 billion, owing to lower earnings for service-providing which fell 2.8 per cent to €1.7 billion. Pre-tax profits for the company, which was recently acquired by Zegona, dropped 11.16 per cent to €394 million.

Cold comfort ICELAND FOODS paid an “’unprecedented” £94 million (€107.6 million) increase in energy last year, as Russia’s invasion of Ukraine affected profits. As a result, the company’s adjusted earnings before interest, taxes, depreciation and amortization for the year ending March fell by 17 per cent to £105.8 million (€121 million).

Sweet treat US-BASED confectionery company Mars is buying Hotel Chocolat in a £534 million (€609.5 million) agreement that will help the UK chocolatier expand internationally, both companies said.  Mars, which paid 375p (€42.80) per share on November 16, 170 per cent more than the previous night’s 139p (€15.87) closing price, said the deal brought “a much-loved brand into its portfolio.”

Train gain THE value of Talgo shares shot up to €4.53 on November 16 after a Hungarian business group made a preliminary public offer to acquire all of the Spanish train manufacturer’s shares.  The group, which Talgo declined to name, would pay €5 per share, a 28 per cent premium on the November 15 closing price.

New era UNICAJA shareholders ratified a new board of directors and the appointment of Isidro Rubiales as new chief executive at an extraordinary general meeting held in Malaga on November 14.  Their approval completed the renovation of Unicaja’s board following the 2021 Liberbank merger and brought to an end former  disagreements on both sides that resulted in a wave of resignations.

On spec UK shoppers sent back more than £4.1 billion (€4.68 billion) of clothing bought online last year, said GlobalData, predicting  a 16.7 per cent increase before 2027. Ordering several items and returning some after making a choice has risen 46 per cent compared with 33 per cent in 2021, according to returns logistics company ZigZag.

Stat of the week: €8 BILLION future investment in renewable energy by oil, gas and chemicals company Cepsa after divesting itself of 50 per cent of its exploration business interests.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at