Finance Extra for the UK and Spain

Finance Extra for the UK and Spain

TEHERAN: Santander Bank has blocked all accounts with Iran links

 Iran alibi SANTANDER UK informed the US government that it had blocked all new accounts belonging to clients with links to Iran.  After an “exhaustive investigation” Santander “categorically” claimed that it had complied with all regulations, despite Financial Times reports that Teheran had used a Santander subsidiary.

Cost-cutting SIEMENS ENERGY, which announced at the end of 2023 plans to return Gamesa, its Spanish wind turbine subsidiary, to profit, announced “staff adjustments” on May 8.  The Germany company added that it hoped to maintain “more or less” the same number of employees and that changes would focus on relocations.

Going wild ANIMAL welfare charities as well as chefs and food experts all opposed the decision to allow “Scottish farmed salmon” to be packaged as “Scottish salmon”, which they said was misleading. Producers argued that that it made no difference as public was well aware that wild salmon was no longer available in supermarkets. 

Rival bids IBERDROLA and Repsol, which mutually accuse each other of “greenwashing”, are at present competing for a contract to build a windfarm in the Gulf of Maine in the US.  Both have submitted bids for the €30 billion project to supply wind power to five million homes in Maine, Massachusetts and New Hampshire. 

Sad story IBERDROLA and Repsol, which mutually accuse each other of “greenwashing”, are at present competing for a contract to build a windfarm in the Gulf of Maine in the US.  Both have submitted bids for the €30 billion project to supply sustainable electricity to five million homes in Maine, Massachusetts and New Hampshire.

Doing well TELEFONICA posted first-quarter revenues of €10.14 billion and a net profit of €532 million that was 79 per cent higher than the €388 million which analysts had predicted and was assisted by improved performance from UK subsidiary Virgin O2, It was now clearly on track to meet its 2024 guidance, the Spanish multinational announced.

Wait a bit WRITING in the Telegraph, Sir Jim Ratcliffe called for the ban on sales of petrol cars to be delayed beyond 2035, warning that demand for electric vehicles had dried up.  Sir Jim, billionaire chief executive of Ineos, the world’s fourth-largest petrochemicals company, advocated eased net zero laws allowing low-emission vehicles as an interim measure while implementing cleaner technologies.

Full throttle PASSENGER train manufacturer Talgo finished the financial year ending March 31, 2024, with a net profit of €10.4 million, quadrupling the previous year’s €2.4 million. The company now awaits a decision regarding a €619 million takeover bid from Hungarian consortium Ganz-Mavag, a deal which the Spanish government views with suspicion owing to the possible presence of Russian funding.

Off the list OXFORD CANNABINOID TECHNOLOGIES, which has backing from rapper Snoop Dogg, announced that it was de-listing from the London stock market owing to “continuous, irrational and regressive pressure” on its share price. Chief executive Clarissa Sowemimo-Coker maintained that the company would have greater access to a “far larger pool” of capital once it was private.

Stat of the week: €1.2 billion paid out in dividends on May 7 by airports management company Aena, in which the Spanish government holds a majority stake.

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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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