Finance Extra for the UK and Spain

Finance Extra for the UK and Spain

WILKO : Collapsed into administration in August 2023 Photo credit: CC/Nabokov

Too late DOUG PUTMAN, owner of HMV who hoped to rescue Wilko which collapsed into administration with debts of £625 million (€723 million), said the failed retailer’s suppliers and landlords were “super-inflexible.” They did not think of the 12,000-plus jobs that would have been saved, Putman claimed.  

Helping out YOUNG Spanish wage-earners are now earning less in real terms than their parents did at the same age, a BBVA-financed survey revealed.  It also found that 37 per cent of the over-60s had helped their children over the last year to buy their weekly shop or to pay their electricity or water bills.

Big bills AS the UK government implements its green agenda, 7 million square feet (650,321 square metres) of Canary Wharf office space does not comply with environmental property standards.   Docklands landlords will now have to spend £300 (€347) per square foot to convert properties to remain within the law.

EV delay SEAT’S Martorell (Barcelona) plant will start building electric vehicles in 2026, instead of mid-2024 as originally planned.  The delay is linked to doubts as to whether the batteries for the cars will come from the gigafactory under construction in Sagunto (Valencia) or the Salzgitter plant in Germany.

Looking ahead ROLLS-ROYCE chief executive Tufan Erginbilgic plans to increase medium-term annual operating profits to £2.8 billion (€3.2 billion) measured against the £1.4 billion (€1.6 billion) forecast for 2023.  The Rolls-Royce chief also wants to see a free cash flow of £2.8 billion (€3.2 billion) and £3.1 billion (€3.6 billion).

Stat of the week: €4.3 billion was spent on soft drinks in Spain last year, with sales that were 15 per cent more than in 2021 and exceeded pre-Covid figures for the first time.

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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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