Spain And Uk Finance News Round-up, August 22

4 hours ago

Finance news. Credit: Pavel Danilyuk, Pexels

The latest finance, business, and tech news from Spain and nan UK.

Air Europa

TURKISH AIRLINES will put €300 cardinal for a 26–27 per cent liking successful Spain’s Air Europa, making it nan carrier’s second-largest shareholder aft nan Hidalgo family. The deal, signed August 19, allows Air Europa proprietor Globalia to clear €475 cardinal successful pandemic debt. €275 cardinal will statesman arsenic a loan, later converted into shares pending regulatory approval. The move places Turkish Airlines up of Iberia’s genitor IAG, which holds 20 per cent, aft its afloat takeover effort was blocked.

Intersport liquidation

INTERSPORT SPAIN has entered liquidation aft Barcelona’s Court No. 3 rejected its rescue plans. The group, comprising Intersport SL, Intersport Retail One SL, and Intersports CCS SA, grounded to unafraid creditor support for proposals including a 70 per cent indebtedness write-off. Stores will enactment unfastened until nan extremity of summer, while RCD Legal manages liquidation. Despite world gross of €14 cardinal successful 2024, Spain’s section faced unsustainable indebtedness aft 7 years of financial struggles. Intersport France showed liking but withdrew.

Green tourism

CAIXABANK has joined Green & Human, becoming nan only financial institution successful Spain’s starring sustainable tourism alliance. The slope will support projects aligned pinch nan UN’s Sustainable Development Goals, focusing connected financing, innovation, and inclusion. David Rico, Managing Director of CaixaBank Hotels & Tourism, said nan extremity is to “transform tourism into a much sustainable, inclusive, and innovative model.” Green & Human projects person already trim 70 tonnes of CO₂ and identified €120 cardinal successful initiatives.

Bank profits

BANKS successful Spain are nearing grounds profits, pinch return connected equity hitting 14.43 per cent successful Q1 2025, adjacent to nan 14.66 per cent highest successful 2021, according to nan Bank of Spain. The six largest banks posted mixed profits of €17.1 cardinal successful nan first half, up 8.5 per cent year-on-year, led by Santander and BBVA. Solvency besides improved, pinch full superior ratio rising to 17.73 per cent and non-performing loans falling to 2.86 per cent.

£300m deal

THE British Business Bank has agreed an ENABLE Guarantee transaction of up to £300 cardinal pinch Close Brothers, boosting lending capacity for UK mini businesses. The woody supports Close Brothers Asset Finance, covering prosecute purchase, leasing, and sale-and-hire acquisition facilities. Asset finance deed a grounds £23.5bn successful 2024, pinch one-third of UK finance successful vehicles, machinery and instrumentality funded this way, according to nan Finance & Leasing Association. Michael Strevens of nan British Business Bank said nan move ensures smaller firms “continue to entree nan finance they request – particularly successful tougher times.”

Robinhood’s AI

ROBINHOOD has launched Cortex Digests successful nan UK, an AI-powered instrumentality summarising why stocks move utilizing news, expert ratings, marketplace data, and trading activity. Free to users, it’s nan first UK merchandise from Robinhood Cortex, already rolled retired to US customers.

Civil Service

THE Northern Ireland Civil Service has launched a recruitment thrust for astir 500 imperishable Executive Officer 2 posts crossed aggregate departments. Offering salaries from £30,548 positive benefits, nan roles adjacent for applications connected August 29.

Coffee culture

SPAIN is seeing a roar successful specialty coffee, pinch Madrid and Barcelona hosting dozens of “third wave” cafés arsenic Google searches surge. While nan UK marketplace has plateaued aft early growth, Spain’s segment is still successful its romanticist phase, blending manner and quality.

Trump tariffs

TRUMP’S tariffs person deed Spanish exports hard, pinch oliva lipid income to nan US -25.8 per cent and car exports -16.7 per cent successful nan first half of 2025. Overall, Spain’s waste and acquisition shortage pinch nan US has jumped 37 per cent. (Eurostat data.)

Financial crime

A Themis study of 74 elder leaders recovered 69 per cent of firms are not yet utilizing AI successful anti-financial crime systems, but complete 80 per cent scheme take by 2030. Efficiency and tackling caller risks thrust uptake, though bequest tech, knowledge gaps, and regulatory uncertainty stay cardinal barriers.

Quantum research

IBERDROLA España and nan Basque Government person signed a semipermanent woody to boost quantum investigation nether nan BasQ Strategy. The business intends to use quantum computing to smart grids, power efficiency, and upwind forecasting, strengthening nan Basque Country’s domiciled arsenic a European invention hub.

Cautious employers

UK private-sector salary settlements held astatine 3 per cent successful nan 3 months to July, down from 4 per cent past year, Brightmine said. Employers stay cautious amid economical uncertainty, April’s taxation hike, and nan looming autumn fund contempt humble maturation figures.