Finance Roundup for the UK and Spain

Finance Roundup for the UK and Spain

PRIME SITE: Azora acquired a €30 million office block in Madrid’s Calle Doctor Esquerdo Photo credit: CC/Malopez 21

Madrid deal REAL ESTATE asset manager Azora, which is based in Spain but operates throughout Europe and the US, paid €30 million for a building in Madrid’s Calle Doctor Esquerdo from Macqaurie subsidiary GLL Real Estate Partners.  Currently used as offices, it is likely to become an hotel, market sources said.

Big payday BRITISH banker Christopher Willcox runs Japanese finance mammoth Nomura’s wholesale bank in New York, overseeing all its operations. He received $12 million (€11.22 million)  for the year ending March 2024 after returning the bank to profit, giving him a pay packet tripling his Japanese boss’s.

Getting bigger GRUPO IFA, a central purchasing group consisting of 6,448 supermarkets in Spain as well as others in Portugal and Italy, reported a record turnover of €39.4 billion in 2023, a 9.2 per cent increase on 2022.  Sales in Spain accounted for €18.17 billion of the total, an increase of 9.3 per cent on the previous year.

Fine line APPROXIMATELY 95,000 workers were fined by HM Revenue & Customs (HMRC) even though they did not owe any tax.  Those earning less than £12,570 (€14,860) do not have to pay income tax but they were penalised for submitting late self-assessments for the 2021-2022 tax year, accountancy firm RSM revealed.

Protein direct MIKE ASHLEY’S Frasers Group has bought a portfolio of luxury brand websites, including Coggles clothing, from the third-party online retailer THG for an undisclosed sun.  Under the deal, Frasers will now be able to sell the online health and beauty retailer’s Nutrition protein products in Sports Direct shops.

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca province 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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