Economy - Page 5
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Tax Cuts in Valencia: Who Really Benefits from PP and Vox Policies
The Generalitat’s new tax cuts promise relief for millions, but the main gains go to those with large estates. Public budgets face a significant shortfall as a result.
Revolut Founder Faces €17.5 Million Lawsuit Over €350 Million Superyacht
Nik Storonsky, CEO of Revolut, is being sued in London for €17.5 million by yacht broker Cecil Wright & Partners, who allege they enabled the purchase of a €350 million superyacht. Storonsky’s family office denies any obligation to pay.
Geely E2 Launches in Spain With a Price That Shakes the Market
Geely’s E2, China’s top-selling electric car, is set to roll off production lines in Valencia. With a limited-time offer starting at €13,990, the move puts pressure on European manufacturers as the autumn sales season approaches.
Porcelanosa Holds €863 Million Revenue Amid Global Instability
Porcelanosa closed 2025 with €863 million in sales, steady profits, and a sharp rise in industrial investment. The group faced US market setbacks but saw strong growth in Iberia and industrialized construction.
Leapmotor B10 Surges to Top as Spain’s Best-Selling Electric Car
The Leapmotor B10 has overtaken rivals to become Spain’s most popular electric car in July. With local assembly set to start in Zaragoza, the model’s success could reshape the country’s EV market and manufacturing landscape.
Nvidia CEO: Data Centre Boom Drives Soaring Demand for Skilled Trades
Jensen Huang, CEO of Nvidia, says hundreds of thousands of skilled tradespeople will be needed to build the infrastructure for artificial intelligence. As Spain already faces shortages in these professions, the surge in data centre construction is set to intensify competition for qualified workers.
Ducati Sale Drama: Italian Bid Sparks Clash with Volkswagen
Ducati’s future is at the center of a heated dispute after an Italian investment group claimed to have made a €2.5 billion offer, while Volkswagen firmly denies any sale talks. The standoff leaves the fate of the legendary brand uncertain.
Junqueras Calls for Long-Term Expert Teams in Catalan Education
Oriol Junqueras urges cross-party deals to create stable expert teams in education and infrastructure. The plan aims to protect key sectors from political turnover and ensure consistent funding. Social and economic agents would also have a voice.
Spain Opens Applications for New Auto+ Electric Vehicle Grants
Spanish residents can now apply for Auto+ subsidies to buy electric and plug-in hybrid vehicles. The program promises faster payments, retroactive eligibility, and a simplified digital process for individuals seeking cleaner transport options.
Technical Glitches Disrupt Launch of Spain’s Auto+ EV Subsidy
The first day of Spain’s Auto+ subsidy for electrified vehicles was marred by platform failures and missing eligible brands. With funds already in high demand, buyers and dealers are left scrambling for clarity.
Bogaris Sevilla Norte Opens with Action, Guaw and Popeyes
Bogaris Sevilla Norte has officially opened its doors along the SE-20, bringing more than 11,200 square metres of new retail and dining options to the city. The first phase features Action, Guaw and Popeyes, with Planet Fitness and Izumo set to join soon.
Spain Faces €13.5 Billion Road Repair Crisis as Heavy Trucks Worsen Damage
More than 34,000 kilometers of Spanish roads require urgent rebuilding after years of underfunding. Heavy truck traffic is accelerating deep ruts and cracks, while the government’s new plan aims to address a €13.5 billion maintenance shortfall.
Pablo Vázquez, Key Adviser to Feijóo and Head of Reformismo 21, Dies at 60
Pablo Vázquez Vega, economist and close adviser to Alberto Núñez Feijóo, has died at 60. He led Reformismo 21, the main think tank linked to the Partido Popular. His passing leaves a gap in the party’s strategic direction.
New Flexible Retirement Law Offers Bonuses for Returning to Work
A major change to Spain’s retirement rules will allow pensioners to return to part-time work with significant financial incentives. The new law, effective August 28, 2026, introduces bonuses of up to 25% for those who meet specific conditions.
How Soviet Crab Experiments Changed the Barents Sea Forever
In 1961, Soviet scientists released thousands of red king crabs into the Barents Sea, hoping to create a new fishing industry. Decades later, the species has transformed the region’s marine life and become a lucrative export for Norway, but at a lasting environmental cost.
Seville’s Historic Corralones Face Eviction Amid Tourist Development Push
Artisans and artists in Seville’s corralones are under pressure as developers seek to replace workshops with tourist accommodation. Residents report harassment and demand urgent protection from authorities.
Europe’s Car Industry Faces Historic Job Cuts Amid Chinese Competition
Major European automakers are cutting nearly 150,000 jobs by 2035, driven by falling sales in China, rising trade barriers, and the rapid transition to electric vehicles. Germany and its flagship brands are at the center of this upheaval.
Electric Car Prices Drop as Gas Models Get More Expensive
A major study finds that electric vehicles in Germany have become significantly cheaper in real terms, while gasoline and diesel cars have grown more expensive. The shift is driven by industry maturity and changing consumer options.
Former Ulma Group CEO Iñaki Gabilondo Dies Suddenly at 62
Iñaki Gabilondo, who led Ulma Group for 16 years, has died unexpectedly at 62. His passing leaves a mark on Gipuzkoa's business and cooperative landscape. The funeral will be held on Tuesday.
Fisherman Battles 2.5-Meter River Giant in São Paulo
Roberto do Carmo Jesus spent 45 minutes fighting a 160-kilo pirarucú in the Marinheiro River, São Paulo. The catch, too large for his boat, comes as Brazil tightens rules on this invasive species outside the Amazon. The story highlights the growing impact of non-native fish in Brazilian waters.
Repsol Warns of Diesel Supply Risks as Summer Approaches
Repsol’s CEO has raised concerns about Europe’s ability to secure enough diesel and kerosene this summer. While Spain is better prepared, other EU countries face heightened vulnerability due to refinery closures and global tensions.
Rental Caps Lifted in Granollers Amid Housing Shortage
Granollers and other Catalan cities are leaving the list of regulated rental zones. Agencies report a lack of available flats, while new limits arrive in Tordera. Authorities and property experts warn of a deepening rental crisis.
La Carlota Factory Faces Hiring Surge as 10,000 Apply for Jobs
Grupo Aviserrano’s new poultry plant in La Carlota has received nearly 10,000 job applications, but the hiring process remains open. The company aims to fill production and specialist roles as it prepares for a September launch with an initial workforce of 300–500 employees.
Canary Islands to Morocco: The €47 Million Undersea Cable Changing Atlantic Connectivity
A new undersea fibre optic network will soon connect Gran Canaria, Lanzarote, Fuerteventura and Morocco, promising faster, more resilient digital links. The €47 million investment is set to transform communications between Europe and Africa, with completion expected by 2028.
Dacia CEO: EU Rules Force Us to Divert 25% of R&D from Customers
Dacia’s CEO Katrin Adt says a quarter of the company’s development resources are spent meeting EU regulations, not on customer needs. She argues for stable rules as Dacia pursues a pragmatic electrification strategy in a changing market.
Pistachio Boom in Castilla-La Mancha: From 4,000 to 70,000 Hectares
Castilla-La Mancha has rapidly expanded its pistachio plantations, now covering nearly 70,000 hectares. Only a quarter of these fields are producing, yet the 2025 harvest exceeded expectations. One farmer’s story highlights the scale and promise of this agricultural shift.
Fuel Tax Changes Push Diesel and Petrol Above €90 Per Tank
From August, filling up in Spain will cost significantly more. Tax discounts on fuel are reduced, while VAT remains at 21%. Drivers now face the highest prices of the year as summer travel peaks.
Catalonia’s President Stands Firm After Pisa Report Error
Salvador Illa defends his government’s record despite the Pisa report setback. He urges PP-led regions to back the new funding model. Daily transport failures and education unrest add pressure.
Stellantis Returns to Profit with €670 Million in First Half of 2026
Stellantis has rebounded from last year’s losses, posting a €670 million profit in the first half of 2026. Strong growth in North America and improved operating margins signal a decisive shift for the group.
Renault Returns to Profit with €705 Million in First Half of 2026
Renault has posted a €705 million profit for the first half of 2026, reversing last year’s record losses. The turnaround comes as sales rise and cost-cutting measures take hold, with electrified models driving growth.
BMW to Cut 8,000 Jobs Worldwide in Major Restructuring
BMW has announced plans to eliminate 8,000 positions globally, aiming to streamline operations and reduce costs. Most of the job cuts will affect non-production staff in Germany, with a focus on early retirement and severance programs.
Valencian Government Allocates €67 Million for La Vall d’Uixó Fire Victims
The Generalitat Valenciana has approved €67 million in aid for those impacted by the La Vall d’Uixó wildfire. The package includes direct payments, municipal support, and interest-free loans. Applications open from August 10.
Mercedes Suffers 94% Profit Collapse in China in Just Three Months
Mercedes-Benz has seen its profits in China plummet by 94% in only three months, despite strong results in Europe and the US. The German brand now faces a critical challenge as local demand for European luxury cars weakens.
Mercadona, Decathlon and Lidl Drive 350-Job Boom in Aranjuez Retail Park
A major retail park in Aranjuez is set to open in late 2026, bringing together Mercadona, Lidl, Decathlon and other brands. With 98% of space leased, over 350 jobs are expected, and a local job fair will connect residents with employers this September.
Madrid Sells Chamberí Luxury Penthouse to Fund Wildfire Recovery
The Madrid government will sell a luxury penthouse in Chamberí. The decision follows recent wildfires in Sierra Oeste. Proceeds are earmarked for reconstruction in affected areas.
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