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☆ European markets head for higher open; BoE rate decision ahead
▼ + stars: | 2024-05-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Thursday, maintaining positive momentum in a busy week of earnings. Ferrovial, Telefonica, EDP, Enel, Pirelli and Salvatore Ferragamo are all due to report today. Elsewhere, the Bank of England is set to publish its latest interest rate decision Thursday. China stocks rose overnight as its imports surged past estimates and exports rose in line with expectations, while the broader Asia-Pacific market was mixed. Meanwhile, futures linked to the Dow Jones Industrial Average hovered near the flatline Wednesday evening after the 30-stock index posted its sixth consecutive winning day.

Persons: Salvatore Ferragamo, it's Organizations: Ferrovial, Telefonica, EDP, Enel, Pirelli, Bank of England, Dow Jones Locations: China, Asia, Pacific

☆ Evergrande’s Hong Kong court ruling is big reprieve
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 4 (Reuters Breakingviews) - A Hong Kong court on Monday adjourned to next month a hearing over a petition for the liquidation of China Evergrande (3333.HK). It lobs the ball back to Beijing: the judge told Evergrande to hold direct discussion with “relevant authorities” on the revamped terms. Options are limited following the detention of the company’s Chair Hui Ka Yan in September on suspicion of unspecified crimes. It also defers a high-profile test on whether Hong Kong liquidation rulings over mainland companies would be implemented across the border more efficiently following the introduction of a limited mutual recognition pact in 2021. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Evergrande, Hui Ka Yan, Chan Ka, Neiman Marcus, Una Galani, Thomas Shum Organizations: Reuters, Hong, HK, X, Saks, Barclays, Thomson Locations: HONG KONG, Hong Kong, China, Beijing

☆ Brookfield’s energy M&A loss is teachable moment
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Dec 4 (Reuters Breakingviews) - Brookfield Asset Management (BAM.TO), has some wounds to lick. On Monday the Canadian investment firm’s joint $13 billion offer with MidOcean Energy for Australian power generator and retailer Origin Energy (ORG.AX)failed after the bidders secured backing from 69% of voted shares, below the required 75% threshold. It could target smaller local energy firms, like Alinta Energy and EnergyAustralia, owned by Hong Kong-based Chow Tai Fook Enterprises and CLP (0002.HK) respectively. Brookfield has made other investments from its $15 billion global transition fund, including to co-buy Westinghouse Electric. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Bruce Flatt, Chow, Brookfield, Antony Currie, Neiman Marcus, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Brookfield Asset Management, MidOcean Energy, Origin Energy, Alinta, Chow Tai Fook Enterprises, CLP, HK, Westinghouse, X, Saks, Thomson Locations: Brookfield, Hong Kong

Even including the sale of Heathrow, this year is the slowest for airport transactions in the past decade, totalling $5.9 billion globally to date, according to Dealogic data. They have hired Mediobanca (MDBI.MI) and Credit Agricole (CAGR.PA) to find a buyer for a sale of their 49% stake in the company, the people said. Heathrow's sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis published on Wednesday. UK's Esken (ESKN.L), owner of regional Southend Airport, said in June it had started a process for the sale of the airport. On Thursday, Hungary's state-owned Corvinus and Vinci Airports notified the European Commission of a proposed joint takeover of Budapest's airport, according to a document posted on the EU website.

Persons: Andras Kranicz, GIP, Australia's Macquarie, Spain's, Ferrovial, Agata Lyznik, Mediobanca, Gianni, Origoni, Nico Torrisi, Morgan, UK's, France's Vinci, Vinci, Corvinus, Emma, Victoria Farr, Andres Gonzalez, Elisa Anzolin, Joanna Plucinska, Mathieu Rosemain, Anousha Sakoui, Elaine Hardcastle Organizations: LONDON, Heathrow, BNP, Global Infrastructure Partners, AGS Airports, Southampton, Australia's, International, ACI, Airports, Macquarie, Credit Agricole Assurance, 2i, Credit, SAC, Gatwick, Southend Airport, Global Infrastructure Fund, Vinci Airports, European Commission, EU, Thomson Locations: Edinburgh, Italy, FRANKFURT, Spanish, Europe, Aberdeen, Glasgow, Heathrow, France, Hungary's, Budapest's

☆ Geely’s stalled IPO discounts global expansion
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Dec 1 (Reuters Breakingviews) - Electric-car marque Zeekr, controlled by China’s largest private auto group Zhejiang Geely, has hit a roadblock. It is putting on hold its New York initial public offering because of a mismatch in valuation expectations, Reuters reported on Thursday. It was hoped the listing would break the ice and encourage a resurgence in Chinese volumes in U.S. capital markets. Its prospectus was published in November, when global stocks recorded their best performance since 2020. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Xi Jinping, Joe Biden, Katrina Hamlin, Julius Baer’s, Una Galani, Thomas Shum Organizations: Reuters, Zhejiang, American, Tata Technologies, X, Barclays, Thomson Locations: HONG KONG, York, Mumbai, Europe, United States, China

☆ Saks and Neiman Marcus are better together
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

The signage outside the Neiman Marcus store is seen during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 19, 2020. REUTERS/Jeenah Moon Acquire Licensing RightsNEW YORK, Dec 1 (Reuters Breakingviews) - Saks Fifth Avenue and Neiman Marcus might be headed down the aisle. The two luxury retailers are in talks to merge, according to the Wall Street Journal on Friday. By joining forces, Saks and Neiman would have more power negotiating with vendors and ability to control costs. Saks and Neiman are destined to match up.

Persons: Marcus, Neiman Marcus, Neiman, Jennifer Saba, Robert Cyran, Aditya Sriwatsav Organizations: REUTERS, Reuters, Saks Fifth, Wall, Saks, HBC, Dallas, Ares Management, Plan Investment Board, Bain, Neiman, X, Barclays, Thomson Locations: New York City, U.S, Canada

☆ ASML’s new CEO has tricky path to a 1,000% return
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +2 min

On Thursday the Dutch group said Chief Executive Peter Wennink is retiring after a decade at the helm. The Veldhoven-based group dominates the market for lithography equipment, a key tool for making microchips used to power everything from smartphones to cars. Demand for its kit has seen ASML’s revenue quadruple and its shares deliver a 1,000% total return since Wennink took over in July 2013. But ASML’s current market power makes it harder for his successor to do deals without inviting antitrust scrutiny. The next 1,000% return is likely to take longer than 10 years.

Persons: Peter Wennink, Christophe Fouquet, ASML, microchips, Wennink, Fouquet, Karen Kwok, Julius Baer’s, Neil Unmack, Oliver Taslic Organizations: Reuters, X, Barclays, Thomson Locations: U.S, China

☆ Ferrovial ends bumpy Heathrow ride on a high
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 29 (Reuters Breakingviews) - Ferrovial (FERF.AS) may be relieved to be exiting one of the world’s busiest airports. The Spanish infrastructure giant has sold its final stake in Heathrow, left over after its 2006 acquisition of BAA, which owned the hub along with Stansted and Gatwick. Regulators forced BAA to sell airports like Gatwick on competition concerns, and Ferrovial later trimmed its stake to just 25%. In 2020 Covid-19 struck, and Heathrow has since been locked in disputes with airlines like British Airways, who accuse it of overcharging. The price paid by Ardian and Saudi Arabia’s Public Investment Fund values Heathrow including debt, at 25 billion pounds, a 27% premium to its regulated asset base.

Persons: –, Aimee Donnellan, Julius Baer’s, Lisa Jucca, Streisand Neto Organizations: Reuters, BAA, Stansted, Regulators, Gatwick, Heathrow, British Airways, Saudi Arabia’s Public Investment Fund, Jefferies, X, Barclays, Thomson Locations: Spanish, Heathrow, Gatwick, It’s

☆ Saudi Arabia's PIF to buy 10% stake in Heathrow airport holding company - SPA
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: 1 min

RIYADH, Nov 29 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) has struck a share purchase agreement to buy a 10% stake in TOPCO, the holding company of Heathrow Airport Holdings Ltd, from Ferrovial (FERF.AS), state news agency (SPA) reported on Wednesday. Reporting by Clauda Tanios Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Clauda, Mark Potter Organizations: Saudi, Public Investment Fund, Heathrow Airport Holdings, Thomson Locations: RIYADH, TOPCO, Ferrovial

One-litre bottles of extra-virgin olive oil are selling for as much as 14.5 euros ($15.77) in some supermarkets, propelling olive oil into the category of products retailers fit with security tags, alongside spirits, cosmetics and appliances. "Olive oil has become an ideal product for them to steal." STC, a Spanish company providing anti-theft solutions to retailers, saw a 12-fold increase in orders this summer from supermarkets for devices to protect olive oil bottles, managing partner Salvador Canones told Reuters. Spanish police have also uncovered thefts of olive oil from mills and in October arrested two people as part of an investigation into the theft of 56 tonnes of extra virgin olive oil. Among the world's biggest consumers of olive oil, they have already significantly cut back: sales volumes of extra-virgin olive oil fell by 17% in the 12 months to September, according to NielsenIQ.

Persons: Jon Nazca, Ruben Navarro, Navarro, Tu, " Navarro, Salvador Canones, Corina Rodriguez, Helen Reid, Elaine Hardcastle Organizations: REUTERS, Rights, Tu, STC, Reuters, Spanish, Thomson Locations: Olive, Malaga, Spain, Rights MADRID, Spain's Andalucia, Carrefour, Madrid, Spanish

[1/5] Several volunteers give Spanish classes to migrants outside the Las Raices Camp in La Laguna, Spain, November 5, 2023. The mix-up shows just how overwhelmed the Spanish archipelago is, Canary Islands president Fernando Clavijo told Reuters, after a record 32,000 migrants came so far this year. At Tenerife's Las Raices adult migrants' centre in San Cristobal de La Laguna, Camara and his friend from the voyage, 16-year-old Modou Lamin Jarju from Gambia, sat around with dozens of other west Africans. Reuters GraphicsOne of the most strained of the eight Canary Islands is El Hierro, its population of 9,000 more than matched by the arrival of 11,000 migrants this year. At its largest minors' centre on a recent day, some 300 children ate breakfast on a basketball court before Spanish lessons.

Persons: Borja Suarez, Moussa Camara, Camara, Classing, Fernando Clavijo, Fran Morenilla, Salaoum Colley, Amparo Morales, Clavijo, El Hierro, Corina Pons, Horaci Garcia, Charlie Devereux, Andrew Cawthorne Organizations: REUTERS, CRISTOBAL, LA LAGUNA, Reuters, Reuters Graphics Reuters, Las, Amnesty, Canaries, San Cristobal de La Laguna, Camara, Thomson Locations: La Laguna, Spain, Guinea, Europe, Islands, Spanish, Almeria, Canary, San Cristobal de La, Jarju, Gambia, El Hierro, European Union, Africa, Senegal

REUTERS/Arriana McLymore/File Photo Acquire Licensing RightsMADRID/LONDON, Oct 25 (Reuters) - Zara owner Inditex (ITX.MC), the world's biggest clothing retailer, has agreed to buy recycled polyester from U.S. start-up Ambercycle, the companies said on Wednesday. As fast-fashion retailers face pressure to reduce waste and use recycled fabrics, Inditex is spending more than 70 million euros ($74 million) to secure supply of Ambercycle's recycled polyester made from textile waste. Under the offtake deal, Inditex will buy a "significant" portion of Ambercycle's production of recycled polyester, which is sold under the brand cycora, over three years. Textile-to-textile polyester recycling is in its infancy, though, and will take time to reach the scale required by global fashion brands. The Ambercycle deal marks the latest in a series of investments made by Inditex into textile recycling start-ups.

Persons: Arriana, Inditex, Zara Athleticz, Javier Losada, Corina Pons, Helen Reid, Cynthia Osterman, David Holmes Organizations: REUTERS, Infinited, Thomson Locations: Zara's Soho, New York City, U.S, MADRID, LONDON, Zara, Los Angeles, Circ, Spain

Spanish farmer Miguel Moreno was an early adopter of so-called cover crops. Spain's drought-hit olive oil production slumped to 663,000 tonnes last year, less than half the average of 1.45 million tons recorded in the previous four harvests, according to the government. In January, it began subsidising farmers who use cover crops as part of the new Common Agricultural Policy (CAP). She said the company was pushed both by customers such as Walmart in the U.S. and by regulation to buy olive oil from producers using sustainable practices. Ecology professor Manzaneda is also coordinator of EU-funded project SOIL O-LIVE and is testing methods for coaxing Albacete's degraded earth back to health.

Persons: Chiclana de Segura, Jon Nazca, Andrea Ronca, Miguel Moreno, Angel, Dcoop, Gonzalo Delacamara, Emilio Gonzalez, Antonio Manzaneda, Manzaneda, Olive, Syngenta, Luis Miranda, Domingo, Marco Trevisan, Dean, Simone Rech, Catalonia's Cava, Sebastiano Conti, Charlie Devereux, Antonella, Corina Pons, Keith Weir, Frank Jack Daniel Our Organizations: REUTERS, Companies Southern, VILLANUEVA DEL ARZOBISPO, Farmers, European Union, of Nutrition, Plant Science, IE, Water, University of Cordoba, University of Jaen, European, Walmart, Swiss, Syngenta, EU, TECH, Smart, Milan Polytechnic, University of Brescia, of Agricultural Sciences, Catholic University of Piacenza, Thomson Locations: Olive, Chiclana, Jaen, Spain, ROME, Italy, Madrid, European, France, Germany, Mantua, Andalusia, European Union, U.S, ITALY, Treviso, Venice, Sicily

"Increasingly we are going to turn used clothes into raw material from Europe for fashion companies." Also in Spain, rivals including H&M, Mango and Inditex have created a non-profit association to manage clothing waste, responding to an EU law requiring member states to separate textiles from other waste from January 2025. OBSTACLESThe obstacles to significantly reducing clothing waste are formidable, despite the EU crackdown, industry sustainability commitments and initiatives like the Moda Re expansion. Adidas (ADSGn.DE), Bestseller, and H&M (HMb.ST) have invested in Finnish start-up Infinited Fiber Company, which manufactures fibre out of textile waste, cardboard and paper. As in Spain, textile waste associations would be set up in each country.

Persons: Albert Alberich, Inditex, Dijana Lind, Hugo Boss, Lind, Moda, Aissatou Boukoum, Mauro Scalia, Corina Pons, Helen Reid, Horaci Garcia, Nacho, Frank Jack Daniel Our Organizations: BARCELONA, Moda, Caritas, Union, European Commission, Union Investment, Adidas, McKinsey, Reuters, EU, ReHubs, Moda Re, United Nations, Inditex, Puma, Infinited Fiber Company, Thomson Locations: Spain, Barcelona, Spanish, Europe, Zara, Bilbao, Valencia, EU, Frankfurt, ReHubs Europe, Mali, Sant, AFRICA, Cameroon, Ghana, Senegal, Africa, Senegalese, Germany, Texaid, Switzerland, Vestisolidale, Italy, France, EURATEX, Madrid, London, Nacho Doce

TENERIFE, Canary Islands, Spain, Aug 18 (Reuters) - A wildfire that has blanketed much of the Spanish island of Tenerife with smoke and ash has slowed its advance thanks to containment efforts and more favourable weather during the night, authorities said on Friday. Fernando Clavijo, regional leader of the Canary Islands, said there were no more evacuations overnight and officials were considering lifting restrictions on almost 4,000 residents who had been ordered to stay home. [1/2]Pine trees burn in a forest fire in Candelaria on the island of Tenerife, Canary Islands, Spain August 16, 2023. Scorching heat and dry weather this summer have contributed to unusually severe wildfires in Europe and Canada. On Friday, Spain's AEMET weather service expected maximum temperatures of 32C in Tenerife.

Persons: Fernando Clavijo, We've, Borja Suarez, Mount Teide, Andrei Khalip, Frances Kerry Organizations: REUTERS, Teide Astrophysics, Thomson Locations: TENERIFE, Canary Islands, Spain, Spanish, Tenerife, Candelaria, Europe, Canada, Maui, Lahaina

TENERIFE, Canary Islands, Spain, Aug 17 (Reuters) - Firefighters on Thursday struggled to contain a wildfire that broke out in a mountainous national park on the Spanish island of Tenerife, prompting authorities to evacuate at least 3,800 people. "The night has been very tough...This is the most complex fire we've had in the Canary Islands in the last 40 years," the region's leader, Fernando Clavijo, told a news conference. [1/5]EIRIF forest firefighters work during the extinction of the forest fire in Arafo on the island of Tenerife, Canary Islands, Spain August 16, 2023. Last week, a heatwave in the Canary Islands left many areas bone dry, heightening the risk of wildfires. This summer, firefighters have extinguished a series of forest fires on the islands of Gran Canaria and La Palma, which form part of the Canary Islands archipelago.

Persons: Alba Gil, we've, Fernando Clavijo, Pedro Martinez, Borja Suarez, Clavijo, Teide, Aena, Andrei Khalip, Christina Fincher, Alexandra Hudson Organizations: REUTERS, Authorities, Gran Canaria, La, Alexandra Hudson Our, Thomson Locations: TENERIFE, Canary Islands, Spain, Tenerife, La Esperanza, Canary, Europe, Canada, Lahaina, Arafo, El Rosario, La Orotava, Spanish, Gran

The largest island, Tenerife, received 4% more tourists in June than in the pre-pandemic 2019. But there were 22% fewer Germans, a clear sign of how the energy crisis and economic woes have weighed on travel decisions. Meanwhile, hotels in traditional hotspots for German tourists, such as the town of Puerto de la Cruz in northern Tenerife, are now filling up with "weather tourists". This year, 18% fewer Germans went on summer holidays than in 2019, according to Germany's tourism industry group DRV. According to Spanish official data, in the first half of 2023, 14% fewer Germans visited Tenerife than in 2019.

Persons: Borja Suarez, Shizuko Hotta, Hotta, Diego Bejarano, Enrique Talg, Corina Pons, Sarah Marsh, Andrei Khalip, Angus MacSwan Organizations: Gran Canaria, REUTERS, Borja Suarez PUERTO, LA, la, Thomson Locations: Puerto Rico, Gran, Spain, LA CRUZ, Canary Islands, Africa, Tenerife, Puerto, la Cruz, Lake Constance, Germany, Spanish, United States, Canada, U.S, Europe

Ferrovial has been providing artificial intelligence services to its businesses and employees since April after two years of work on an AI solutions centre in Spain. Ferrovial is working with Microsoft AI products, but has its own, completely isolated version, and is building the framework for an AI service that will help its various businesses. The company is also using AI tools on its highways to detect cars going the wrong way, objects or people on the road, and is working on perfecting the sensors. In parallel, Ferrovial is working on ways to communicate directly with motorists using its U.S. toll roads and give them more information than just the rates. AI will also help it contact potential users to offer discounts and attract more traffic.

Persons: Ferrovial, Luis Carlos Pietro Fernandez, Fernandez, Corina Pons, Andrei Khalip, Conor Humphries Organizations: Heathrow, Reuters, Microsoft, Thomson Locations: MADRID, Spain, Highways, Madrid, Netherlands, United States, Heathrow, Britain's, New, JFK

[1/3] A man called David checks his phone as he stands near a fan to cool off, during a heatwave across Italy, in Rome, July 14, 2023. A heat wave has hit southern Europe during the peak summer tourist season, breaking records - including in Rome - and bringing warnings about an increased risk of deaths. Spain is expected to endure higher-than-average temperatures this summer, with two heatwaves already baking the country in June and July. Amazon Business, where companies can order supplies, saw more than a 20% increase in portable air-conditioning unit sales across Spain, Italy, and France this month compared to July last year. Smaller devices, like hand-held fans and fans worn around the neck, were also selling in their thousands.

Persons: David, Guglielmo Mangiapane, Angela Lonardo, Leroy Merlin, Elisa Anzolin, Corina Rodriguez, Helen Reid, Sharon Singleton Organizations: REUTERS, El, El Corte Inglés, Amazon Spain, Amazon, Thomson Locations: Italy, Rome, MADRID, MILAN, Southern Europe, Europe, United States, El Corte, Madrid, Spain, Seville, Sensibo, France, Corte, Milan, London

☆ Ferrovial says Dutch relocation could damage brand in Spain
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

MADRID, June 15 (Reuters) - Ferrovial's (FER.MC) decision to move its holding company to the Netherlands to try to speed up a U.S. listing could have an adverse impact on its brand in Spain, the company said in a document published on Thursday. The operation "could potentially have a negative impact on its brand in Spain, which, in turn, could have a material adverse effect on the group's competitive position," it said. The reverse merger, under which its Dutch subsidiary Ferrovial International SE (FISE) has absorbed holding company Ferrovial, was fully completed on Thursday. In the website prospectus, Ferrovial said Spanish tax authorities could decide the merger falls outside a special tax regime for holding companies that allows dividends and capital gains from the transfer of shares from subsidiaries to be exempt from taxation. Ferrovial on Thursday had no comment beyond the published document.

Persons: Ferrovial, Rafael del Pino, Nadia Calvino, Corina Pons, Emma Pinedo, Charlie Devereux, Sharon Singleton, Barbara Lewis Organizations: Ferrovial, Thomson Locations: MADRID, Netherlands, U.S, Spain, Amsterdam, Madrid, Ferrovial, Spanish

☆ Ferrovial shareholders vote on Dutch move in possible prelude to U.S. listing
▼ + stars: | 2023-04-13 | by ( Corina Pons | ) www.reuters.com time to read: +3 min

MADRID, April 13 (Reuters) - Ferrovial (FER.MC) shareholders vote on Thursday on a plan to move the Spanish construction group's holding company to the Netherlands, paving the way to a listing in the U.S. and potentially access to subsidies available there. The government fears more companies could follow suit and argues that a full U.S. listing is perfectly possible for a Spain-based company, although there are no such precedents. The move must be approved by a majority of shareholders to go ahead in a meeting that starts at midday (1000 GMT). Several investment funds have said they will vote in favour and two independent proxy advisers recommended backing the move. Ferrovial also wants to approach institutional funds in the U.S. willing to buy stakes if it gets a listing there.

☆ Norway's sovereign fund opposes Ferrovial's move to the Netherlands
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

MADRID, April 11 (Reuters) - Norway's sovereign fund will oppose Spanish engineering firm Ferrovial's plan to relocate to the Netherlands at the firm's shareholders meeting to be held on Thursday. The $1.4 trillion fund, which holds a 1.49% stake in Ferrovial, said on its website it will vote against the planned reverse merger through which the company would be absorbed by its wholly-owned Dutch subsidiary FISE. The sovereign fund explained its decision on Ferrovial reminding of its general guidelines on corporate decisions. The Norwegian fund will support all the other proposals made by the board to the shareholders, it said. Proxy adviser Glass Lewis & Co said the proposed reverse merger would not have a significant effect on shareholder rights though it could have "negative reputational impact" in Spain.

☆ UK regulator tells Heathrow to cut fees in win for airlines
▼ + stars: | 2023-03-08 | by ( Sarah Young | ) www.reuters.com time to read: +3 min

[1/2] A worker sanitises a barrier at the International arrivals area of Terminal 5 in London's Heathrow Airport, Britain, August 2, 2021. The lower fees will boost airlines such as IAG's (ICAG.L) British Airways and Virgin Atlantic, two of Heathrow's biggest, making the airport cheaper for them. They have long complained that fees at Heathrow, the busiest airport in western Europe, are the highest in the world. The strong bounceback in travel since the lows of the pandemic prompted the CAA to reduce the fees Heathrow can charge in the coming years. Improved forecasts for passenger numbers this year and next year mean Heathrow will be able to generate higher revenue, said the CAA, which uses passenger numbers to calculate the charges.

☆ Ferrovial to build data centre for Microsoft in Madrid - Cinco Dias
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

Jan 3 (Reuters) - U.S. tech giant Microsoft (MSFT.O) has commissioned Spain-based infrastructure company Ferrovial (FER.MC) to build a data centre near the Spanish capital, the Cinco Dias newspaper reported on Tuesday. While the amount has not been disclosed, Cinco Dias cited unidentified sources close to the matter as saying the contract could be worth several hundred million euros, as Microsoft plans a number of investments worth more than 12 billion euros ($12.75 billion) across 17 regions in Europe. The data centre is set to be built in San Sebastian de los Reyes, a city with a population of about 90,000 some 20 km (12 miles) north of Madrid. Microsoft is planning another two projects in the Madrid region with the aim of developing cloud services such as Azure, Power Platform, Microsoft 365 and Dynamics 365, Cinco Dias said. ($1 = 0.9410 euros)Reporting by Jakub Olesiuk; Editing by David Latona, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

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