Abanca Firmly Denies Interest in Merger with Banco Sabadell Amid Speculation
In a clear statement aimed at quelling market speculation, Spanish financial institution Abanca has publicly denied any interest in a corporate operation with Banco Sabadell. This comes amidst swirling rumors of a potential merger between the two entities, especially in the wake of BBVA's failed takeover attempt of Sabadell. Abanca's leadership has emphasized their commitment to sustainable...
Spain to Present UN Resolution Against Israeli Offensive in Gaza
Recent reports have revealed a significant discrepancy between the Spanish government's public statements and its actual arms trade activities with Israel. Despite claims by Spanish Prime Minister Pedro Sánchez that no arms sales to Israel have occurred since the onset of the Gaza offensive on October 7, 2023, the Centre Delàs de Estudios por la Paz has documented at least 134 transactions....
Catalan Parliament Approves Tourist Tax Hike Without Delay
The Catalan Parliament has validated an increase in the tourist tax without delaying its implementation, sparking a political standoff among the ruling coalition parties. The decision, primarily supported by ERC and Comuns, has led to tensions within the government, particularly between Esquerra Republicana and Comuns, over the timing of the tax's activation. Despite initial agreements to...
Strategic Growth: Consum Targets Castilla La Mancha and Andalucía for Expansion
La cooperativa Consum, a Valencian cooperative, has marked its 50th anniversary with impressive financial results for 2024, reporting profits of 108.7 million euros, a 7.5% increase from the previous year. The cooperative's turnover reached 4,707.3 million euros, up by 7.3%. Antonio Rodríguez Lázaro, Consum's general director, highlighted the year's challenges due to 'high uncertainty' but...
Banks Ordered to Refund Victims of Phishing Scams Following Landmark Supreme Court Decision
In a landmark decision, the Spanish Supreme Court has unequivocally placed the responsibility for digital fraud on banks, mandating them to reimburse affected customers immediately unless the bank can prove the customer acted with gross negligence. This ruling, dated April 9, underscores the banks' obligation to enhance their diligence and adopt better practices to detect and prevent...
TJUE Rules on Transparency and Fairness in Mortgage Opening Clauses
The European Court of Justice (TJUE) has recently issued rulings that, in principle, support the legality of contractual clauses imposing opening fees on mortgage loans. However, the court emphasized that the fairness of such clauses depends on the specific circumstances surrounding each contract, including the transparency of the information provided to the consumer.In cases...
Dalata Secures Strategic Lease for Clayton Hotel in Madrid's Valdebebas District
Dalata Hotel Group PLC, the UK and Ireland's largest independent four-star hotel operator, is set to make its mark in Spain with the announcement of its first property in Madrid. The Clayton Hotel, located in the Valdebebas district adjacent to the Adolfo Suárez Madrid-Barajas Airport, represents a significant step in Dalata's European expansion strategy. The 243-bedroom hotel, expected to...
Muface Announces New Healthcare Agreement Effective May 1, Affecting Thousands of Public Workers
The Mutualidad General de Funcionarios Civiles del Estado (Muface) has confirmed that its new healthcare agreement, awarding the provision of private healthcare services to Adeslas and Asisa, will come into effect on May 1. This marks a significant shift for public workers in Spain, who must now navigate a one-month special period to choose their healthcare provider, whether staying with...
Economic Impact of Spain's Blackout: 400 Million Euros in Immediate Losses
The recent power outage in Spain has had a significant impact on the country's economy, with an immediate loss of 400 million euros in authorized purchases through payment systems, according to Economy Minister Carlos Cuerpo. The blackout, which occurred last Monday, resulted in a 55% drop in transaction activities compared to a typical Monday, highlighting the vulnerability of digital...
Aena and Airlines Adapt to Power Outage Challenges, Ensuring Passenger Convenience
Following a widespread power outage across Spain that disrupted airport operations, Aena, the Spanish airport operator, has confirmed that all airports under its management are now functioning normally. The blackout, which also affected several European regions, led to significant alterations in flight schedules, prompting Aena to implement contingency measures to mitigate the impact on...
BBVA's Takeover Bid for Sabadell Nears Regulatory Approval
The long-awaited decision on BBVA's public takeover offer (OPA) for Banco Sabadell is imminent, with the National Commission of Markets and Competition (CNMC) expected to approve the transaction next Monday. The approval, anticipated to come with mild conditions, marks a significant milestone in a process that has stretched over nearly a year. BBVA has been preparing for the integration of...
Social Media Star Marta Hermoso Faces Charges After 400,000 Euro Heist
Marta Hermoso, a 35-year-old influencer from Seville known for her lavish lifestyle and social media presence, has been arrested in Madrid alongside three other individuals. The group is accused of stealing valuables worth approximately 400,000 euros from a Mexican businessman at the upscale Wellington Hotel. The items taken included watches, jewelry, and cash, marking a significant heist...
Juan Carlos I Dines in O Grove, Silent on Legal Matters
King Juan Carlos I has marked his first visit to Spain in 2025 by returning to Galicia, a region familiar with his nautical passions. The emérito king is set to participate in the second regatta of the Spanish 6-meter league aboard the Bribón, a vessel from the Náutico de Sanxenxo, which holds the current national championship title. The event, scheduled for the 26th and 27th in the Ría de...
