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Spain's Deoleo, the world's largest olive oil producer, says the industry needs to undergo a "profound transformation" as it grapples with one of the most challenging moments in its history. A perfect storm of climate change, soaring prices, high interest rates and robust inflation has taken its toll throughout the olive oil value chain in recent months. Spain accounts for more than 40% of the world's olive oil production, making it a global reference for prices. Extra virgin olive oil prices in Spain's Andalusia hit a record high of 9.2 euros ($9.84) per kilogram in January. Olive oil prices have cooled due in part to an uptick in production estimates and beneficial rains in March and April.
Persons: Spain's Deoleo, Miguel Angel Guzman, Guzman Organizations: CNBC Locations: Europe, Spain, Andalusia, Olive
Only two European stocks have positively surprised markets every quarter for the past five quarters, according to analysis by CNBC Pro. CNBC Pro screened for stocks that report EPS figures and have analysts' estimates available on FactSet. Most recently, on Feb. 5, the company beat earnings estimates by 6.1% and shares rallied more than 8% in the following session. Four quarters ago, the stock rallied by 12.8% in a single session following earnings. Many banking stocks, such as France's Societe Generale , Spain's Banco de Sabadell , Germany's Commerzbank and Sweden's Swedbank , beat earnings-per-share estimates over the past five quarters.
Persons: UniCredit, Germany's, Sweden's Organizations: CNBC Pro, Portugal's Banco Comercial Portugues, Generale, Spain's, Sabadell, Deutsche Bank, CNBC Locations: Europe, Milan
Spain's BBVA takes aim again at $10 billion Sabadell
  + stars: | 2024-05-01 | by ( ) www.cnbc.com   time to read: +2 min
The headquarters of the Spanish bank BBVA are seen in Madrid, Spain. Talk of a tie-up between Spain's second and fourth-largest banks comes almost four years after previous negotiations collapsed. The potential merger follows a period of consolidation in the sector as Spanish banks seek to cut costs and boost scale. For BBVA, a tie-up would boost its domestic business and increase lending to small and medium-sized companies, where Sabadell is strong. Spain's Economy Minister Carlos Cuerpo told Spanish news agency EFE that it was essential to preserve a competitive landscape in the financial sector.
Persons: BBVA's, Onur Genc, Carlos Torres, Joaquin Robles, JP Morgan, Carlos Cuerpo, EFE Organizations: BBVA, Sabadell, XTB, Unicaja, UBS, JPMorgan Locations: Spanish, Madrid, Spain, Santander's
Qantas on Wednesday apologized after some customers using the Australian airline's app were shown the name, flight details and loyalty status of other passengers. Customers were not able to transfer or use other people's airline points, and there were no reports of customers boarding flights using incorrect details, Qantas said. During the incident, Qantas advised customers to log out and then back in to their frequent flyer app account. "We sincerely apologise to all customers impacted and continue to monitor the Qantas app closely," the airline said in a statement. The Qantas incident comes after other airlines experienced data breaches involving malicious actors in recent years.
Organizations: Qantas, Sydney International Airport, Spain's, Europa, Reuters, British Airways Locations: Sydney, Australia
Spain's Prime Minister Pedro Sanchez said on Monday he had decided to continue in office, days after abruptly announcing he was considering his future following the launch of a corruption investigation against his wife. The centre-left prime minister, 52, had surprised foes and allies alike when he said on Wednesday he was taking time from public duty to consider quitting. He had been encouraged to stay by widespread expressions of support over the weekend, Sanchez said. "I have decided to go on, if possible even stronger as prime minister. "As a leader he has shown a weakness and it's something that the opposition will exploit a lot."
Persons: Pedro Sanchez, Begona Gomez, Sanchez, King Felipe VI, Ignacio Jurado, Carlos Organizations: Spain's, Carlos III University
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA billionaire drug baron was arrested in Spain on money laundering charges but was released after paying a $53,000 bond, according to reports. AdvertisementThis followed a five-year investigation that police say showed the suspects had established a criminal organization involved in large-scale drug trafficking, including the smuggling of significant amounts of cocaine. Related storiesPolitico referred to Bouyakhrichan as a billionaire who possesses bank accounts and properties around the world. AdvertisementThe judge then imposed a €50,000 bond, roughly $53,000, took away Bouyakhrichan's passport, and ordered him to report to the authorities every fifteen days.
Persons: , Felix Bolaños, Karim Bouyakhrichan, Bouyakhrichan, Vincent Veenman Organizations: Service, Business, Spain's National Police, BBC, Cadena SER Locations: Spain, Dutch, Moroccan, Netherlands, Belgium, South America, Europe, The Hague, Spanish
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSpanish finance minister expects Spain to hit 2% inflation in 2025Carlos Cuerpo, Spain's minister of economy, trade and business, reviews how his country is seeing growth at five times the euro zone average and discusses his outlook for inflation and geopolitical partners.
Persons: Carlos Cuerpo Locations: Spain
April Jereza never intended to move abroad to Madrid, Spain, but now that she's been there for seven years, she thinks she'll stay for the long haul. "People in Madrid, and Spain in general, really understand that you don't live to work; you work to live," Jereza says. Other data touts the city's big benefits for professionals: Madrid is the No. 1 best city for remote work, according to a new analysis from Remote.com, a global HR platform for distributed teams. She now works as a product manager for a multinational social media agency from its Madrid office and works remotely part of the week.
Persons: Jereza, she's, she'll Organizations: CNBC Locations: Madrid, Spain, Canada, Europe, Remote.com, Spain Madeira, Portugal Toronto, Canada Auckland , New Zealand Tokyo, Japan Paris, France Portland , Maine, USA Taipei, Taiwan Stockholm, Sweden Reykjavik, Iceland
Spain plans to end "golden visas" for non-EU citizens investing €500,000 in real estate. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSpain will no longer hand out "golden visas" to foreigners willing to pay big bucks for them. AdvertisementIn the last year, Ireland, the Netherlands, Portugal, and Greece have all shut down or tightened their golden visa programs for similar reasons. In 2018, New Zealand banned foreigners from buying existing homes following a housing affordability crisis, similar to Spain and Portugal's current situation.
Persons: , Pedro Sánchez, Sánchez, it's, Peter Thiel, Meghan Morris Organizations: EU, Service, European Union, Associated Press, OECD, Investment, Henley & Partners Locations: Spain, Portugal, Greece, Ireland, Netherlands, Barcelona, Madrid, Valencia, Europe, New Zealand
In January 2023, we moved from Oakland, California, to Valencia, Spain. Leong and her husband moved to Valencia, Spain, in 2023. Valencia, Spain, showed up as a low-cost place to live and within a year, we purchased two properties there — all cash. I believe in buying property to live here and contribute to the community instead of simply purchasing property as an ex-pat as an investment. AdvertisementWhen purchasing property in Spain, you must be carefulLeong taking tea into her terrace area.
Persons: , May Leong, It's, Leong, Spain —, he's, we'd, Leong Valencia, aren't, Valencia haven't Organizations: Service, Business, Oakland, Irish EU, pats, Facebook Locations: Oakland, Valencia, Spain, Limerick, Ireland, Europe, Oakland , California, Lisbon, California, States, Irish
CNN —Spanish prosecutors are seeking a prison term of two years and six months for former soccer chief Luis Rubiales for giving an unwanted kiss to star forward Jennifer Hermoso after Spain’s World Cup victory. The kiss was televised globally and the scandal overshadowed a historic moment for Spain’s women’s team which was celebrating its first-ever World Cup win. Rubiales described the kiss as “mutual” – a claim Hermoso has strongly denied – and said he faces “excessive persecution” from authorities. Vilda had been filmed seeming to inappropriately touch a female staff member during the Women’s World Cup Final. He was replaced by Montse Tomé, the first woman in Spanish national team history to hold the position.
Persons: Luis Rubiales, Jennifer Hermoso, Rubiales, Hermoso, Spain’s, , Jorge Vilda, Albert Luque, Rubén Rivera, CNN Rubiales, Spain’s women’s, Vilda, Montse Tomé Organizations: CNN, Public Ministry, Royal Spanish Football Federation, FIFA, Prosecutors, Spanish, Hermoso Locations: Spain, Spanish
The ChatGPT maker announced this week it had struck partnerships with two major European media organizations: France's Le Monde and Spain's Prisa Media. This story is available exclusively to Business Insider subscribers. This is a "threat" to GooglePublishers who've signed agreements with OpenAI say they hope the partnerships will bring new life to their business. By wooing users with a better interface, OpenAI could threaten Google's dominance over online search, Zaman said. OpenAI did not immediately respond to a request for comment from Business Insider.
Persons: , OpenAI, Brad Lightcap, Axel Springer, Roger Lynch, Condé Nast, Google Publishers who've, Le Monde, Tauhid Zaman, Zaman, Hugh Martin Organizations: Service, Prisa, Business, Politico, CNN, Fox Corp, Bloomberg, ChatGPT, Yorker, Wired, The New York Times, Microsoft, Google Publishers, Google, Facebook, Media, Yale School of Management, Publishers, Scripps School of Journalism, Ohio University Locations: OpenAI
Aid ship for Gaza expected to depart Cyprus this weekend
  + stars: | 2024-03-09 | by ( ) www.cnbc.com   time to read: +2 min
A ship laden with relief supplies for Gaza was preparing to depart Cyprus on Saturday as part of efforts to aid a population on the brink of famine. Separately, the United States has said it plans to build a temporary jetty to bring aid into Gaza, which has no port infrastructure. A sea corridor from Cyprus will supplement attempts to boost aid supplies, which have included airdrops of food. The charity WCK has partnered with Spain's Proactiva Open Arms and is sourcing the food. Larnaca port was used by pro-Palestinian activists, who used small sail boats to get into Gaza harbour in 2008.
Persons: Spain's, WCK Organizations: Central Command, Royal Jordanian Air Force, European, Reuters, UAE . Aid, Hamas Locations: Northern Gaza, Gaza, Cyprus, UAE, Spanish, Larnaca, United States, Israel, U.S
The Google corporate logo hangs outside the Google Germany offices on August 31, 2021 in Berlin, Germany. Alphabet 's Google was hit with a 2.1-billion-euro ($2.3 billion) lawsuit by 32 media groups including Axel Springer and Schibsted on Wednesday, alleging that they had suffered losses due to the company's practices in digital advertising. "Without Google's abuse of its dominant position, the media companies would have received significantly higher revenues from advertising and paid lower fees for ad tech services. Crucially, these funds could have been reinvested into strengthening the European media landscape," the lawyers said. Others in the group include Austria's Krone, Belgian groups DPG Media and Mediahuis, Denmark's TV2 Danmark A/S, Finland's Sanoma, Poland's Agora, Spain's Prensa Iberica and Switzerland's Ringier.
Persons: Axel Springer, Schibsted, Stek, Big, Austria's, Finland's Organizations: Google, Geradin Partners, Publishers, DPG Media, Denmark's TV2, Spain's Prensa Locations: Berlin, Germany, Austria, Belgium, Bulgaria, Czech Republic, Denmark, Finland, Hungary, Luxembourg, Netherlands, Norway, Poland, Spain, Sweden, Europe, Austria's Krone
Joe Dean of England reacts on the 16th green during day four of the Magical Kenya Open at Muthaiga Golf Club on February 25, 2024 in Nairobi, Kenya. British golfer and part-time delivery driver Joe Dean hailed his performance at the Kenya Open as "life-changing" as he received a check for just under 200,000 euros ($217,000) by finishing in a tie for second place. "I don't think it's sunk in yet," Dean told DP World Tour. Second event, you don't really feel like you belong and feel like you're trying to prove something," Dean said. "Luckily, I managed to get over that quickly and figure out how to get around the golf course."
Persons: Joe Dean, Spain's Nacho Elvira, Darius van Driel, Dean, It's, I've, I'd, you've Organizations: Kenya, Club, Morrisons Locations: Nairobi, Kenya, British, Netherlands, Qatar
Colombia sending a deep-water expedition to explore the 300-year-old San José shipwreck. The Spanish galleon, discovered in 2015, is believed to hold treasures worth up to $20 billion. A 300-year-old shipwreck in the Caribbean is believed to hold gold and silver coins, emeralds, and other sunken treasures that could be worth $20 billion. On Friday, Colombia's government unveiled plans for a groundbreaking deep-water expedition to explore the legendary galleon, San José, dubbed the "holy grail of shipwrecks." In the ship's hold was accumulated wealth taken from Spain's colonies in South America, including 116 steel chests full of emeralds and millions of gold and silver coins.
Persons: Colombia's, San José Organizations: Business Locations: Colombia, José, Spanish, Caribbean, San, Cartagena, South America
A British accountant became a millionaire overnight after he and his wife won around £61 million ($78 million). The press release said that he would work until the end of the UK tax year, on April 5. Debbie Nuttall handed in her notice for her job as a civil engineer after finding out about the win, the press release said. AdvertisementRichard's decision to stay in work to wrap things up is a change when looking at lottery winners of the past. Emily Irwin, a financial advisor to lottery winners, previously told BI that winners have the best chance at protecting their winnings by forming a team of advisors and avoiding overspending.
Persons: , wouldn't, Richard Nuttall, Debbie, Nuttall, Debbie Nuttall, Richard, Ben King, Emily Irwin, Irwin Organizations: Service, National Lottery, Daily Mail, Sky News, BMW Locations: British, Canary, Portugal
MADRID (Reuters) - Spanish Prime Minister Pedro Sanchez emerged weakened from Sunday's parliamentary elections in the northwestern region of Galicia after his Socialist party (PSOE) won just nine seats in the 75-seat assembly. The conservative People's Party (PP) maintained its outright majority after winning 40 seats, while PSOE's far-left coalition ally Sumar failed to win a single seat, according to official results. A bad night for the Socialist Party," political consultancy Nitid wrote in a report. The victory bolsters PP's national leader Alberto Nunez Feijoo, who faced questions over his leadership after failing to unseat Sanchez in last year's national election. After failing to form his own coalition with the hard-right Vox party, Feijoo has consistently attacked Sanchez on plans to offer an amnesty to Catalan separatists in exchange for their support.
Persons: Pedro Sanchez, Sumar, Sanchez, Nitid, Alberto Nunez Feijoo, Feijoo, Inti Landauro, Emma Pinedo, Charlie Devereux, Ros Russell Organizations: Spanish, Socialist, PSOE, People's Party, Nationalist Galician Bloc, Socialists, Socialist Party, Vox Locations: MADRID, Galicia
A Spanish matador opened up about his sexuality in an interview with the Spanish newspaper El Mundo. It is said to make him the first openly LGBT+ matador in the country. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA bullfighter revealed to the Spanish newspaper El Mundo that he is Spain's first openly LGBT+ matadorMario Alcalde, 31, works as an airport baggage handler.
Persons: Mario Alcalde, , Spain's, bullfighters Organizations: El Mundo, Service, Alcalde, Business Locations: Spanish, El
A group representing drivers, Plataforma Nacional, and a newly created farmers' group, Plataforma 6-F, on Saturday came together to jointly demand action from Spanish and European leaders. Members of both groups, waving Spanish flags, wearing yellow vests and shouting 'Viva Espana', gathered in a car park near the Atletico de Madrid stadium and voted in favour of joining forces. That is why we are calling on politicians to take responsibility and do something," said Manuel Hernandez, head of the Plataforma Nacional, representing truck drivers. Since Tuesday, Spanish farmers have joined their counterparts from Germany, France, Italy, Portugal and Belgium in daily protests that include blocking several highways and ports. Both groups vowed to keep protesting, in Madrid and across the country, until their demands were met.
Persons: Manuel Hernandez, Catarina Demony, Guillermo Martinez, Jessica Jones, Jonathan Oatis Organizations: Spanish, European Union, Plataforma Nacional, Saturday, Espana, Atletico de Madrid, Nacional, Socialist Locations: MADRID, Madrid, Spanish, Germany, France, Italy, Portugal, Belgium
MADRID (AP) — Mirroring protests across Europe, thousands of farmers in Spain staged a second day of tractor demonstrations on Wednesday across the country, blocking highways to demand changes in European Union farming policies and measures to combat production cost hikes and severe drought. The protests, involving several thousand people on tractors and in other vehicles, haven't been backed by Spain´s three main farming organizations, which have called for separate protests in the coming days. Speaking in Spain's parliament on Wednesday, Prime Minister Pedro Sánchez pledged to help farmers and take their case to Europe. Agriculture Minister Luis Planas Puchades met with farmers’ unions on Friday, but failed to persuade them to halt the protests. There have been other protests in countries such as France, Poland and Greece in recent days.
Persons: Efe, Spain ´, Pedro Sánchez, Luis Planas Puchades, Hadja Lahbib, Maroš Šefčovič, Raf Casert Organizations: MADRID, Agriculture Ministry, Agriculture, European Commission, Foreign Locations: Europe, Spain, Union, Castellon, Jerez, State, Barcelona's, Spain's Catalonia, Madrid, Ukraine, France, Poland, Greece, Belgium, Brussels
DOHA, Qatar (AP) — Twins Wang Liuyi and Wang Qianyi teamed up to capture another gold medal for China in artistic swimming at the World Aquatics Championships on Monday. The 27-year-old sisters won the women's duet technical routine with a score of 266.0484 points. The country's only other medal in artistic swimming was Shortman's solo free bronze at last summer's championships in Fukuoka. Photos You Should See View All 45 ImagesThe Wangs were back on top in duet technical after a disappointing fourth-place showing at Fukuoka. Artistic swimming is split into 11 medal-winning opportunities at the world championships.
Persons: Wang Liuyi, Wang Qianyi, Kate Shortman, Isabelle Thorpe, Spain's Alisa Ozhogina Ozhogin, Iris Tio Casa, Italy's Linda Cerruti, Lucrezia Ruggiero, ___ Organizations: , China Locations: DOHA, Qatar, Doha, Fukuoka, Budapest, Japan
LONDON — European markets are set for a higher open on Friday to close out a busy week of corporate earnings and major central bank decisions. On Wednesday, the U.S. Federal Reserve also left policy unchanged and Chair Jerome Powell poured cold water on speculation about a potential first interest rate cut in March. Preliminary inflation data for the euro zone on Thursday revealed the annual increase in the headline consumer price index eased slightly in January, while core figures declined less than expected and services inflation held steady. Friday is set to be quieter on the earnings front, with Spain's CaixaBank among the biggest names reporting. No major corporate earnings or economic data releases are due from Europe.
Persons: Jerome Powell, Spain's Organizations: Bank of England, U.S . Federal Reserve, Deutsche Bank, BNP, Adidas, Volvo Locations: Europe
GUALBA, Spain (AP) — Plastic jugs in hand, Joan Torrent takes a path into the woods in search of drinking water. The drought emergency, which takes effect Friday, limits the daily amount of water permitted for residential and municipal purposes to 200 liters (53 gallons) per person. Catalonia’s water agency says the average resident uses 116 liters (30 gallons) per day at home. Gualba's name, according to local lore, means “white water” thanks to the streams flowing down from the Montseny mountain that overlooks the village. Only the Guadalete-Barbate river basin in southern Andalusia, which faces similar shortages and restrictions, is worse off at 14.6%.
Persons: Joan Torrent, Gualba, don’t, , Jordi Esmaindia Organizations: Locations: Spain, Gualba, Barcelona, Spain’s, Catalonia, Llobregat, Andalusia
Power demand from generative AI will soar from 46 terawatt hours to 224 TWH between this year and 2027, according to the firm's base case scenario. That's equivalent to more than 75% of the total global data center power use in 2022, or close to Spain's entire power consumption in 2022, the firm said. "We believe the rapid power demand growth from GenAI is not well understood, and not priced into a number of stocks." Among large-scale renewable developers in the U.S., AES has the largest commercial and industrial market share, according to Morgan Stanley. Apart from data center infrastructure and power providers, utilities are another part of the data center servicing ecosystem.
Persons: Morgan Stanley, Morgan Stanley's, Andrew Percoco, Bloom, Percoco, NextEra, Max Yates, Sharon Shih Organizations: CNBC, Bloom Energy, AES Corp, NextEra Energy, Google, Microsoft, Bank of America, AES, Big Tech, Stocks, Delta Electronics, Mitsubishi Electric, Analysts, Dominion Energy Locations: GenAI, U.S
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