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☆ Spain ready to sign a deal with Britain on Gibraltar as early as Wednesday - minister
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jon Nazca/files Acquire Licensing RightsMADRID, Nov 28 (Reuters) - Spain is ready to sign a deal on the post-Brexit status of Gibraltar as early as Wednesday, Spanish Foreign Minister Jose Manuel Albares said, before setting off to meet newly appointed British Foreign Minister David Cameron in Brussels. Albares said he spoken with Cameron on Monday on the telephone and both men agreed to meet in Brussels to further discuss the status of Gibraltar there. He said he was due to fly to Brussels later on Tuesday, adding: "Spain wants this agreement to be signed tomorrow." The European Commission and Spain sent Britain a proposal, including keeping Gibraltar's land border to Spain, open in late 2022 and ensuring the free flow of people. Spain ceded the rocky outpost at the mouth of the Mediterranean Sea to Britain in 1713 but has long called for its return.

Persons: Jon Nazca, Jose Manuel Albares, David Cameron, Albares, Cameron, Inti Landauro, Aislinn Laing Organizations: REUTERS, Rights, Spanish, British, Spanish TV, European Union, EU, Schengen, European Commission, Thomson Locations: Gibraltar, Spain, Rights MADRID, Brussels, British, Britain

☆ Superb Sinner leads Italy to Davis Cup glory against Australia
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +3 min

Italy's number one Sinner produced a devastating display to outclass a helpless De Minaur 6-3 6-0 after Matteo Arnaldi outlasted Alexei Popyrin in the first singles clash. "It helps a lot to play for the whole team and it's been an incredible feeling for all of us," Sinner said as Italy rejoiced at a first Davis Cup title since 1976 and only second ever. Lleyton Hewitt's Australia have now been beaten in the final in successive years having lost to Canada in 2022. Italy and Australia qualify automatically for the 16-nation Finals next year across four cities with the ITF announcing on Sunday that the Final Eight will again be hosted in Malaga. Reporting by Martyn Herman; additional reporting by Gavin Jones, editing by Louise Heavens and Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: deportes Martin, Australia's Alex de Minaur, Jon Nazca, Alex De Minaur, De, Matteo Arnaldi, Alexei Popyrin, Novak Djokovic, Djokovic, Miomir Kecmanovic, Lorenzo Sonego, Sinner, it's, Giorgia Meloni, Arnaldi, Filippo Volandri's, Popyrin, De Minaur, Minaur, Lleyton, Martyn Herman, Gavin Jones, Louise Heavens, Ken Ferris Organizations: Palacio, deportes, deportes Martin Carpena, Davis, REUTERS, Rights, Australia, Serbia, Djokovic, ITF, Thomson Locations: Australia, Italy, Malaga, Spain, Rights MALAGA, Saturday's, Serbia, Italian, Canada

☆ Djokovic says British fans disrespectful during Davis Cup win
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

Tennis - Davis Cup - Finals - Serbia v Britain - Palacio de deportes Martin Carpena, Malaga, Spain - November 23, 2023 Serbia's Novak Djokovic in action during his match in the quarter final against Britain's Cameron Norrie REUTERS/Jon Nazca Acquire Licensing RightsNov 24 (Reuters) - Novak Djokovic accused British fans of disrespect during Serbia's Davis Cup quarter-final victory in Malaga on Thursday. "That's disrespect but that's something you have to be prepared for in a Davis Cup," he later told reporters. In the heat of the moment sometimes you react too and you ... show that you don't allow this kind of behaviour. Djokovic said he was not feeling fresh after a long season but wanted to end the year by helping Serbia with the Davis Cup. Reporting by Chiranjit Ojha in Bengaluru; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.

Persons: deportes Martin, Serbia's Novak Djokovic, Britain's Cameron Norrie REUTERS, Jon Nazca, Novak Djokovic, Serbia's, Cameron Norrie, Djokovic, Chiranjit, Peter Rutherford Organizations: Britain, Palacio, deportes, deportes Martin Carpena, Davis, ATP, Thomson Locations: Serbia, Malaga, Spain, Italy, Bengaluru

☆ Novak Djokovic tells fans to ‘shut up’ after guiding Serbia to Davis Cup victory
▼ + stars: | 2023-11-24 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Novak Djokovic told a group of drumming fans of the Great Britain team to “shut up” as they tried to drown out his post-match interview after Serbia’s Davis Cup quarterfinal win on Thursday. The 36-year-old Djokovic also won a record seventh title at the ATP Finals earlier this month, beating Italy’s Jannik Sinner in the final. Serbia will now play Italy in the semifinals of the Davis Cup on Saturday. 1 is bidding to cap off a superb season with a Davis Cup win. “That’s disrespect but again that’s something I have to be prepared for in a Davis Cup,” the 36-year-old Djokovic told reporters, speaking about the vocal fans.

Persons: CNN — Novak Djokovic, “, Serbia’s, Cameron Norrie, Djokovic, ” Djokovic, We’re, ”, –, Carlos Alcaraz, Davis, Italy’s, Jon Nazca, ” Leon Smith, GB’s Organizations: CNN, Great Britain, Wimbledon, ATP, Davis, Reuters Locations: Malaga, Spain, Serbia, Italy

☆ Finland hope to continue Davis Cup fairytale and inspire new generation
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Finland boasts famous figures in Formula One, ice hockey, athletics and winter sports but not many noted tennis players and former world number 13 Nieminen said his team's best-ever Davis Cup run could inspire a new generation. "Now tennis is getting bigger and bigger. Even before our success, tennis was getting a little bit bigger. The Davis Cup team is getting more attention. Finland will play the winner of Wednesday's quarter-final between 2022 runners-up Australia and the Czech Republic in Friday's semi-final.

Persons: deportes Martin, Finland's Harri Heliovaara, Otto Virtanen, Canada's Alexis Galarneau, Vasek Pospisil, Jon Nazca, Jarkko Nieminen, Harri Heliovaara, Nieminen, It's, Shrivathsa Sridhar, Muralikumar Organizations: Palacio, deportes, deportes Martin Carpena, Vasek Pospisil REUTERS, Rights, Davis, Canada, Thomson Locations: Finland, Malaga, Spain, Sweden, Fuengirola, Formula, Australia, Czech Republic, Friday's, Bengaluru

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

☆ Highlights from the Latin Grammy Awards
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: 1 min

[8/35]Share this photoEdgar Barrera poses with the Best Regional Song, Songwriter of the Year and Producer of the Year Awards. REUTERS/Jon Nazca

Persons: Edgar Barrera, Jon Nazca Organizations: REUTERS

☆ Flamenco cradle Seville hosts historic Latin Grammy awards
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] Shakira poses with the Song Of The Year, Best Pop Song and Best Urban/Fusion Performance Awards at the 24th Annual Latin Grammy Awards in Seville, Spain, November 17, 2023. Seville is the cradle of flamenco, a fiery music genre that has influenced generations of artists around the world. Latin American female performers swept most of the top awards in at Thursday's late-night gala. "Seville is the birthplace of flamenco. Reporting by Mariano Valladolid, Elena Rodriguez; writing by Andrei Khalip; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Shakira, Jon Nazca, Argentine DJ Bizarrap, DJ Bizarrap's, Colombia's Karol G, Rosalia of Spain, Omar Montes, Mariano Valladolid, Elena Rodriguez, Andrei Khalip, Jonathan Oatis Organizations: REUTERS, Argentine DJ, Reuters, Thomson Locations: Seville, Spain, SEVILLE, Argentine, Spanish, United States, American, Thursday's

☆ Germany's Scholz looking 'closely' at Italy's migrant deal with Albania
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

German Chancellor Olaf Scholz looks on next to the President of the Party of European Socialists (PES) Stefan Lofven during the meeting of the Party of European Socialists in Malaga, Spain, November 11, 2023. REUTERS/Jon Nazca Acquire Licensing RightsFRANKFURT, Nov 11 (Reuters) - German Chancellor Olaf Scholz on Saturday signalled an openness to study Italy's deal to hold migrants in Albania as the European Union tries to stem illegal immigration. Scholz's briefing, of which Reuters obtained an audio file, was held on the sidelines of a congress of the Party of European Socialists (PES). Scholz had on Tuesday agreed on a tougher migration policy and new funding for refugees with the heads of Germany's 16 states. Scholz also said six western Balkan states that had been promised EU membership 20 years ago should "soon" be integrated.

Persons: Olaf Scholz, Stefan Lofven, Jon Nazca, Scholz, Andreas Rinke, Vera Eckert, Dditing, David Holmes Organizations: Party of European Socialists, REUTERS, Rights, European Union, Monday Rome, Reuters, Thomson Locations: Malaga, Spain, Albania, Moldova, Ukraine, Georgia, Israel, Gaza

☆ Spain's Sanchez wins support for PM bid amid anger over Catalan amnesty vow
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +4 min

"We have managed to secure a majority that will make possible the investiture of Pedro Sanchez," acting minister for parliamentary relations Felix Bolanos said in an interview with SER radio station. Opinion polls have painted a picture of a country divided over the question of amnesty, even within the ranks of the Socialist Party. With Junts and PNV and the national and regional left-wing parties, Sanchez would win an absolute majority of 178 out of 350 lawmakers. Later on Friday, the Socialist Party added one vote more to its wide coalition after Canary Islands' regionalist party Coalicion Canaria also agreed to back Sanchez. Bolanos said the Catalan amnesty law would help ease tension in Catalonia as it would free school directors, firefighters and other civil servants who helped organise an illegal referendum on the region's independence in 2017 from legal proceedings.

Persons: Pedro Sanchez, Ursula von der Leyen, Charles Michel, Jon Nazca, Junts, Sanchez, Felix Bolanos, Bolanos, Canaria, Carles Puigdemont, Belen Carreno, Emma Pinedo, Inti Landauro, David Latona, Jessica Jones, Aislinn Laing, Toby Chopra, Nick Macfie, Hugh Lawson, Andrea Ricci Organizations: European, REUTERS, Rights, Catalan separatists, National Basque Party, Canaries ' Coalition, SER, Socialist Party, Socialist, La, Sigma, Sanchez's Socialist Party, Interior Ministry, El Mundo, Socialists, Police, Thomson Locations: Granada, Spain, Rights MADRID, Catalonia, Galician, Basque, Canary Islands, Junts, Madrid

REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down more than 10% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices. Shares in the Copenhagen-based group slid 11.1% by 0904 GMT, to their lowest level in three years. The group already warned in August of a steeper decline in global demand for shipping containers by sea this year. Reporting by Jacob Gronholt-Pedersen and Louise Rasmussen, editing by Terje Solsvik, Miral Fahmy, Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Jon Nazca, Moller, Vincent Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Thomson Locations: Algeciras, Spain, COPENHAGEN, Copenhagen

[1/2] Containers are seen on the Maersk's Triple-E giant container ship Majestic Maersk, one of the world's largest container ships, next to cranes at the APM Terminals in the port of Algeciras, Spain January 20, 2023. REUTERS/Jon Nazca/File photo Acquire Licensing RightsSummaryCompanies Signals sharp downturn in demandTo review share buyback program for 2024Says industry facing overcapacity and lower prices, demandShares down 17.5% to lowest in three yearsCOPENHAGEN, Nov 3 (Reuters) - Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices, sending its shares tumbling. The industry invested heavily in new container ships during and after the pandemic to meet strong demand and benefit from record freight rates. A large number of new ships entered the market since the summer with no signs of idling or scrapping, said Clerc.

Persons: Jon Nazca, Moller, Vincent Clerc, Clerc, Morten Holm Enggaard, Maersk, Jacob Gronholt, Pedersen, Louise Rasmussen, Johannes Birkebaek, Terje Solsvik, Miral Fahmy, Elaine Hardcastle Organizations: Triple, Majestic, APM, REUTERS, Shipping, Maersk, Walmart, Nike, Jyske Bank, Revenues, Thomson Locations: Algeciras, Spain, COPENHAGEN, North America, Copenhagen

☆ BBVA's Q3 net profit rises 13% boosted by Spain and Mexico
▼ + stars: | 2023-10-31 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

REUTERS/Jon Nazca/File Photo Acquire Licensing RightsSummaryCompanies Q3 net profit up 13% to 2.1 bln euros, slightly above forecastsQ3 NII up 22.5% to 6.4 bln euros, beating forecastsEnds quarter with capital ratio of 12.73%MADRID, Oct 31 (Reuters) - Spain's BBVA (BBVA.MC) on Tuesday posted a 13% rise in third-quarter net profit rose 13% buoyed by higher lending income in its main markets, Spain and Mexico. The third-biggest euro zone lender by market value booked a net profit of 2.08 billion euros ($2.20 billion) for the July to September period. The bottom line was slightly better than the 2 billion euros forecast by analysts polled by Reuters despite a 29% increase in loan loss provisions, which came in a bit above expectations. In Mexico, the bank's net profit rose 21% while NII climbed 30% supported by higher lending activity despite higher funding costs. In Spain, net profit rose 75%, while NII was up 62%.

Persons: Jon Nazca, NII, Jesús, Inti Landauro, Jason Neely Organizations: BBVA, REUTERS, Spain's BBVA, Reuters, Thomson Locations: Malaga, Spain, MADRID, Mexico, Europe

☆ Armenia sees no advantage in keeping Russian military bases -PM to WSJ
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

Armenia's Prime Minister Nikol Pashinyan arrives at the Palace of Charles V on the day of the European Political Community Summit in Granada, Spain October 5, 2023. REUTERS/Jon Nazca/File Photo Acquire Licensing RightsMOSCOW, Oct 25 (Reuters) - Armenia sees no advantage in continuing to host Russian military bases on its territory after Azerbaijan retook the contested region of Nagorno-Karabakh, the Armenian prime minister told the Wall Street Journal in an interview published on Wednesday. "These events have essentially brought us to a decision that we need to diversify our relationships in the security sphere, and we are trying to do that now," Prime Minister Nikol Pashinyan told the WSJ. Russia's military presence in Armenia includes garrisons in two locations and an airbase. Later on Wednesday, Kremlin spokesman Dmitry Peskov said that Russian authorities were unaware of Pashinyan's comments.

Persons: Nikol Pashinyan, Charles V, Jon Nazca, Dmitry Peskov, Peskov, Felix Light, Maxim Rodionov, Gareth Jones, Leslie Adler Organizations: Armenia's, Political Community Summit, REUTERS, Rights, Wall Street, Thomson Locations: Granada, Spain, Armenia, Russian, Azerbaijan, Nagorno, Karabakh, Soviet Union, Moscow, Caucasus

A European Union flag flutters outside the congress palace ahead of the European Political Community summit in Granada, Spain, October 4, 2023. The council said all three jurisdictions either lacked tax information or failed to deliver on commitments regarding governance and transparency reforms. Barring Russia, it said in a statement, the EU list only includes "small and vulnerable countries like Belize yet fails to include any EU member state" which were given the same Global Forum rating. Oxfam's EU tax expert Chiara Putaturo also slammed the list as "toothless" for not screening the United States, the UK, or EU states such as Luxembourg and Malta, adding "countries deemed too big to be listed can no longer escape scrutiny." The EU Council did not immediately respond to a request for comment.

Persons: Jon Nazca, Chiara Putaturo, Sarah Morland, Alvaro Murillo, Jose Sanchez, Bill Berkrot, Stephen Coates Organizations: REUTERS, European Union, OECD's, Transparency, Information, EU, Marshall, Thomson Locations: Granada, Spain, Seychelles, Caribbean, Belize, Antigua, Barbuda, Russia, Panama, EU, United States, Luxembourg, Malta, British Virgin Islands, Costa Rica, Mexico City, San Jose, Belmopan

☆ EU leaders to debate economic security amid global tensions
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

A European Union flag flutters outside the congress palace ahead of the European Political Community summit in Granada, Spain, October 4, 2023. The EU executive plans to work with the 27 EU members to assess by the end of the year whether there are any risks to the bloc's economic security linked to advanced semiconductors, artificial intelligence, quantum technology and biotechnology. It is part of the European Economic Security Strategy unveiled by the Commission in June that calls for strengthening the EU's own internal market, fostering research, forging alliances with reliable partner and using existing trade defence tools and considering new ones. Part of the debate will centre on the degree to which countries are willing to harmonise their policies on national security and transfer certain powers to Brussels. Countries such as Sweden and the Netherlands want more open markets, while others such as France has more focus on protecting domestic producers.

Persons: Jon Nazca, Charles Michel, Russia's, Philip Blenkinsop, Andrew Heavens Organizations: REUTERS, Rights, Union, Commission, EU, European Economic Security, Thomson Locations: Granada, Spain, Rights GRANADA, China, Ukraine, Europe, Brussels, Sweden, Netherlands, France

☆ EU looks to the future at summit on migration and enlargement
▼ + stars: | 2023-10-06 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +4 min

Other central and eastern EU countries have also put up border controls inside what is normally a zone of open travel, citing the need to crack down on people smugglers and migrants who avoid regular border crossings and arrival procedures. But the matter is politically sensitive and anti-immigrant rhetoric and policies are on the rise in some EU countries ahead of continent-wide European Parliament elections next June. From economic aid transfers to decision-making to maintaining cohesion, EU leaders will look on Friday at what needs to change inside their union to allow for another enlargement. Such debates highlight a tough dilemma the EU faces in trying to bring in new members while deepening existing integration. "Enlargement is a geo-strategic investment in peace, security, stability and prosperity ... both the EU and future member states need to be ready."

Persons: Spain's King Felipe VI, Queen Letizia, Jon Nazca, Gabriela Baczynska, Rosalba O'Brien Organizations: Lions, Alhambra, Political Community Summit, REUTERS, Rights, GEO, Reuters, EU, Kyiv, European Union, Thomson Locations: Granada, Spain, Rights GRANADA, Ukraine, Italy, Germany, Europe, Bavaria, Poland, East, Africa, Russia's, Grenada, China, Moldova, Western Balkans, Britain, Kyiv, Warsaw, Hungary

☆ Choppy waters as Europe navigates China-US rivalry
▼ + stars: | 2023-10-04 | by ( Mark John | ) www.reuters.com time to read: +6 min

The fracturing of the rules and bonds tying the global economy together - so-called "geo-economic fragmentation" - seemed implausible only a few years ago. Nowhere is it more pressing than for Europe, whose wealth has always relied on trade, from its rapacious colonial history through to its reinvention as self-styled champion of WTO rules. Both the United States and Europe have been hardening their stance towards Beijing while stressing the rules of world trade must be fairly applied. The main EU concern is that the U.S. proposals could break WTO rules by discriminating against third parties. "And we really hope ... that after the election in the United States this is going to continue."

Persons: Jon Nazca, Gordon Brown, Brown, Brad Setser, Biden, Joe Biden, Donald Trump, Trump, Wang Huiyao, Petra Sigmund, Philip Blenkinsop, Joe Cash, Belen Carreno, Mark John, Catherine Evans Organizations: Triple, Majestic, APM, REUTERS, Trade Organization, USA, International Monetary, European, Reuters, for, Thomson Locations: Algeciras, Spain, China, Europe, America, American, United States, Moroccan, Marrakech, Beijing, Washington, Brussels, U.S, EU, for China, IMF, Madrid

☆ Temperatures in Spain shatter records as October kicks off
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jon Nazca/File photo Acquire Licensing RightsMADRID, Oct 2 (Reuters) - The start of October in Spain this year has been the warmest since records began, the country's meteorological agency AEMET said on Monday, with nearly 40% of weather stations recording maximum temperatures above 32 degrees Celsius (89.6 Fahrenheit). Two cities in south-central Spain, Badajoz and Montoro, broke the heat record for continental Spain during the month of October with 38 C and 38.2 C, respectively. The previous record was 37.5 C, documented in the resort city of Marbella in October 2014. The weather station at Madrid's iconic Retiro Park, which is over a century old, equalled its October record of 30 C set in 1930. He added that future summers would not only be hotter, but also longer, extending into the traditionally mild and rainy autumn.

Persons: Jon Nazca, AEMET, Ruben del Campo, Del, David Latona, Inti Landauro, Alex Richardson Organizations: REUTERS, Rights, TVE, Thomson Locations: Ronda, Spain, Rights MADRID, Badajoz, Montoro, Marbella, Retiro, Del Campo

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

☆ Euro zone August downturn deeper than was thought
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 5 (Reuters) - The decline in euro zone business activity accelerated faster than initially thought last month as the bloc's dominant services industry fell into contraction, according to a survey which suggests the bloc could drop into recession. REUTERS/Jon Nazca Acquire Licensing RightsThe headline services PMI sank to 47.9 from 50.9, below the flash 48.3 estimate, as indebted consumers feeling the pinch from increased borrowing fees and high living costs reined in spending. The new business index, a gauge of demand, dropped further below breakeven to 46.7 from 48.2, a low not seen since early 2021. Still, the downturn in manufacturing eased last month, suggesting the worst may be over for the bloc's beleaguered factories, a sister survey showed on Friday. The composite employment index dropped to 50.2 from 51.4.

Persons: Cyrus de la Rubia, Jon Nazca, Employers weren't, Jonathan Cable, Hugh Lawson Organizations: P Global, Hamburg Commercial Bank, REUTERS, PMI, Employers, Thomson Locations: July's, Hamburg, Ronda, Spain

☆ Two measures of global corporate health flash red
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +5 min

Moller-Maersk (MAERSKb.CO) lowered its estimate for global container trade this year as companies reduce inventories and higher interest rates and recession risks in Europe and the United States drag on global economic growth. The company, one of the world's biggest container shippers, said it expects container volumes to fall by as much as 4%. Maersk controls about one-sixth of global container trade, transporting goods for retailers and consumer companies such as Walmart (WMT.N), Nike (NKE.N) and Unilever (ULVR.L). The International Monetary Fund last week said that it expects global economic growth to slow this year, led by advanced economies even as food prices have come down and the March banking turmoil has been contained. It expects the global growth to slow to 3% this year and next, from 3.5% last year.

Persons: Jon Nazca, . Moller, Mark Read, Grey, Sophie Lund, Yates, Hargreaves Lansdown, Swift, David Jackson, Josephine Mason, Catherine Evans, Deepa Babington Organizations: Triple, Majestic, REUTERS, Maersk, WPP, Walmart, Nike, Unilever, Reuters, Ogilvy, Apple, Amazon.com Inc, Companies, Global, Nissan, Caterpillar, Monetary Fund, DHL Group, Thomson Locations: Strait, Gibraltar, Algeciras, Spain, U.S, Europe, United States, Beijing, slowdowns, China

☆ Two measures of corporate health flash red
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +4 min

Persons: Jon Nazca, . Moller, Mark Read, Grey, Sophie Lund, Yates, Hargreaves Lansdown, Josephine Mason, Catherine Evans Organizations: Triple, Majestic, REUTERS, Maersk, WPP, Walmart, Nike, Unilever, Reuters, Ogilvy, Apple, Amazon.com Inc, Companies, Global, Nissan, Caterpillar, Monetary Fund, DHL Group, Thomson Locations: Strait, Gibraltar, Algeciras, Spain, U.S, Europe, United States, Beijing, slowdowns, China

The logo of the company Royal Caribbean is seen on the 'Wonder of the Seas' cruise ship, the world’s largest cruise ship, docked at a port in Malaga, southern Spain, April 30, 2022. Cruise operators lowered prices to lure passengers onboard following the pandemic, banking on onboard spending that has now reached record levels. Onboard spending in the second quarter rose 49.9% for Norwegian Cruise Lines (NCLH.N), compared with the same period in 2019, before the pandemic. Onboard spending rose about 36.8% for Royal Caribbean Cruises and 17.2% for Carnival in the same period. Carnival and Royal Caribbean said the percentage of guests who were new to cruising surpassed 2019 levels.

Persons: Jon Nazca, Patrick Scholes, Josh Weinstein, Bob Levinstein, Cruise, Carnival's Weinstein, Jason Liberty, Brandt Montour, Granth, Anil D'Silva Organizations: Royal, REUTERS, Royal Caribbean Cruises, Carnival Corp, Carnival, Cruise, Norwegian Cruise Lines, DISNEY WORLD, Walt Disney, Custom Travel, Reuters Graphics, Cruise Lines International, . Carnival, Barclays, Thomson Locations: Royal Caribbean, Malaga, Spain, U.S, Caribbean, Orlando , Florida, They've, Bengaluru, Doyinsola, New York

☆ Hedge fund Oceanwood offers 4.4% stake in Spanish bank Unicaja
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

The logo of Unicaja bank is seen on the facade of a Unicaja bank branch in Ronda, Spain, October 26, 2022. REUTERS/Jon Nazca//File PhotoMADRID, Aug 1 (Reuters) - British hedge fund Oceanwood Capital Management is selling up to 117 million shares in Spanish bank Unicaja (UNI.MC) via accelerated bookbuilding, equal to a 4.4% stake or more than half of its total holding, bookrunner BOFA Securities said on Tuesday. At Tuesday's closing price the stake on offer was worth around 124 million euros ($136.04 million). Oceanwood holds a 7.4% stake in Unicaja. Unicaja, which is controlled by Unicaja Banking Foundation with a 30% stake, bought smaller lender Liberbank in 2020 to create Spain's fifth-largest bank with around 110 billion euros ($121 billion) in assets.

Persons: Jon Nazca, Oceanwood, bookbuilding, BOFA, David Vaamonde Juanatey, Andrei Khalip, Barbara Lewis Organizations: REUTERS, Capital Management, Securities, BOFA Securities, Citigroup Global Markets, Unicaja Banking, Thomson Locations: Ronda, Spain, Spanish, Unicaja

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