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☆ Former Spanish king hints at return to public life after winning UK harassment case
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

Spain's former King Juan Carlos arrives at Sanxenxo during his second visit to the country since departing to Abu Dhabi in August 2020 after a number of scandals shook the Spanish Royal House, in Sanxenxo, Spain, April 19, 2023. The 85-year-old ex-monarch was being sued by Corinna zu Sayn-Wittgenstein-Sayn, who alleged Juan Carlos orchestrated threats, surveillance and intimidation from 2012. Juan Carlos' spokesperson said in a statement: "Today's decision, favourable to His Majesty, re-establishes the conditions necessary for further public appearances." The former king moved to Abu Dhabi in 2020 under a cloud of scandals which shook the Royal House and has not participated in any official act with the Spanish royal family since. The Spanish royal household declined to comment on Juan Carlos' statement on Friday.

Persons: King Juan Carlos, Miguel Vidal, Corinna zu Sayn, Wittgenstein, Sayn, Juan Carlos, Juan Carlos –, –, Princess Diana, Rowena Collins Rice, Sam Tobin, Inti, William James, Alex Richardson, Nick Macfie Organizations: Spanish Royal House, REUTERS, London's, Royal, Inti Landauro, Thomson Locations: Sanxenxo, Abu Dhabi, Spain, London, Sayn, Swiss, Granada

Amancio Ortega set up the first Zara store in A Coruna in the north west of Spain in 1975. Marta Ortega started from the bottom at Inditex, stacking shelves at a Bershka store when she was 23. Ortega, whose father owns 59.3% of Inditex, has mainly worked in the background, leaving the spotlight to the CEO. "We feel that Marta Ortega has repositioned Zara slightly upwards," said Patricia Cifuentes, analyst at the investment banking arm of Spanish investment firm Bestinver. "Reinforcing that Zara sells fashion, not just clothes, has allowed Inditex to increase prices and protect the margins amidst the inflationary storm."

☆ Investors punish Zara owner Inditex over spending plans
▼ + stars: | 2023-03-15 | by ( Corina Pons | ) www.reuters.com time to read: +4 min

As the cost of making garments increased, H&M took a profit hit while Inditex was able to pass on costs to shoppers. But higher expected capital expenditure for 2023, of 1.6 billion euros, surprised investors, sending Inditex shares down more than 5% by 1140 GMT. An Inditex logo is seen at the entrance of a Zara factory, the headquarters of Inditex group, in Arteixo, northern Spain, March 9, 2016. Inditex closed stores in mainland China at double its average rate, shutting a fifth of its shops there in 2022. Meanwhile Inditex plans to continue expanding in the United States, with at least 30 new projects planned from 2023 to 2025.

REUTERS/Miguel VidalA CORUNA, Spain/LONDON, Feb 28 (Reuters) - In Spain's A Coruna, two contrasting fashion business models collide - pitching the growing demands for the clothing industry to become more sustainable against the constant need to drive sales. This rainy, windswept, city on the rugged Atlantic coast is the unlikely headquarters of Zara-owner Inditex (ITX.MC) - the world's biggest fast fashion retailer. It also hosts small boutiques offering high quality, durable products that consider themselves an alternative to the fast and affordable fashion propelling Inditex's annual sales of 28 billion euros ($30 billion). "If you release tonnes and tonnes of clothes, textiles, shoes into the market, you will have to collect it," he said. But Circ and its competitors are only capable of producing 1% of the textiles needed to make the 109 million tonnes of clothes per year that the global fashion industry churns out.

☆ EU plans to upgrade its Paris Agreement climate target - document
▼ + stars: | 2022-09-19 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

REUTERS/Miguel Vidal//File PhotoBRUSSELS, Sept 19 (Reuters) - The European Union plans to raise its target to tackle global warming under the Paris climate agreement, although the upgrade is unlikely to happen in time for this year's U.N. climate summit, according to a draft document seen by Reuters. That's because the bloc's package of climate policies was designed in July 2021 to deliver the 55% emissions target - and parts of it have since been made more ambitious. The draft could still change before EU countries approve it in October. Some experts said making clear that the EU is planning a higher target would still increase pressure on other emitters. "Taking this step would put the EU further ahead as a global climate leader," said Tom Evans from think-tank E3G.

☆ Europe's severe drought is unearthing ancient artifacts from 'Spanish Stonehenge' to Emperor Nero's bridge
▼ + stars: | 2022-09-17 | by ( Paola Rosa-Aquino | ) www.businessinsider.com time to read: +7 min

Receding water levels due to drought in Europe are unearthing old sites and artifacts. Since early 2022, Europe has experienced an extended period of unusually high temperatures and severe lack of rainfall. From megalithic monuments to ancient bridges, sites and artifacts continue to be unearthed by the 2022 drought in Europe. Pablo Blazquez Dominguez/Getty ImagesIn late July, receding water levels in Spain's Valdecanas reservoir dropped to 28% percent of its capacity, revealing the Dolmen of Guadalperal, dubbed "Spanish Stonehenge," Reuters reported. In June, receding water levels due to the intense drought resurfaced a sunken shipwreck of a World War II-era barge.

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