Business Extra For The UK And Spain

Business Extra For The UK And Spain

SUNDERLAND: Nissan plant provides jobs for 6,000 people Credit: CC/Arne Museler Arne Müseler / arne-mueseler.com / CC-BY-SA-3.0 / https://creativecommons.org/licenses/by-sa/3.0/de/deed.de

New models NISSAN is expected to announce plans to build two new electric models in Sunderland, securing the future of the UK’s largest car factory which provides work for 6,000 people. According to Sky News reports, the Japanese manufacturer intends to produce replacements for the Qashqai and Juke crossover cars, with investment in the factory approaching £1 billion (€1.15 billion).

Home-grown ZARA, owned by Inditex, and Banco Santander were again the only Spanish companies present in Best Global Brands 2023, which lists the 100 most valuable global brands. Zara moved up four places to be ranked in 43rd position, while Santander, ranked 77th, once more retained its title as the Eurozone’s leading bank.

Jobs cut CAPITA, the London-based outsourcing specialist which collects the BBC’s television licence fees, intends to dismiss up to 900 staff in a move that will enable it to save an annual £60 million (€68.8 million).  The move comes while Capita is still recovering from a £25 million (€28.7 million) Russian ransomware attack in March. 

Cap fits BRUSSELS announced that the Spanish government can continue to cap energy bills for a further six months until June 2024.  Although this was due to be phased out at the end of 2023 Madrid argued that despite the easing of the energy crisis over the past year, commodity prices were still “highly uncertain.” 

Vat trap MARK WAINWRIGHT, director and co-owner of luxury jeweller Boodles, condemned the government’s decision to end VAT-free shopping in 2021 as a “spectacular own goal.”  It was unhelpful for retailers and had also hit tourist spending on luxury items, hotel stays and eating out as well as luxury items, Wainwright told the Times.

Cellnex sells WIRELESS telecommunications infrastructure and services company Cellnex confirmed that it intends to sell all or part of its Austrian and Irish operations to reduce its debt and upgrade its credit rating. This follows the Spanish multinational’s €730 million sale of a 49 per cent holding in its Swedish and Danish divisions to US investment firm, Stonepeak, last September.

 Special offer CHANCELLOR Jeremy Hunt’s Autumn Statement included options to sell the state’s 38.6 per cent holding NatWest which was bailed out during the 2008 financial crisis.  The government will explore the possibility of offering the shares to the public, unlike previous sales which were limited to financial institutions. 

Big buildup TURNER and Flatiron, subsidiaries of Spain’s ACS company, have won contracts totalling €1.3 billion in the US.  The construction companies will be responsible for the second phase of San Diego airport, a hospital in Georgia, an extension to the Johnson and Johnson building in Florida and an innovation centre at the University of Texas.

Riders rights BRITAIN’S Supreme Court upheld previous judgements by ruling that Deliveroo riders are self-employed contractors without the right to collective negotiations on pay and conditions. The IWGB union, which has fought on the riders’ behalf since 2017 and claims they should be classed as employees, is considering whether to challenge the decision under international law.

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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 editorial@euroweeklynews.com.

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