Finance news. Credit: Pavel Danilyuk, Pexels
Services sector
SPAIN’S services sector saw its fastest growth since February, with domestic demand driving a sharp jump in activity in July, according to S&P Global. The HCOB Spain Services PMI rose to 55.1 in July from 51.9 in June, showing solid expansion. Economist Jonas Feldhusen of Hamburg Commercial Bank said this “reinforces expectations that the current growth trajectory could persist.” With 0.7 per cent GDP growth in Q2 and robust manufacturing data, Spain may outpace the eurozone this year.
UK minimum wage
ON August 5, the UK Government announced plans to remove “discriminatory” age bands from the minimum wage system, moving towards a single adult rate. Business Secretary Jonathan Reynolds said the change aims to ensure “a fair deal for our lowest paid workers” as part of the government’s Plan for Change. Could this finally mean equal pay for equal work, no matter the person’s age?
Wallapop sale
SOUTH KOREAN tech giant Naver has acquired Spain’s largest second-hand marketplace, Wallapop, for €377 million, as confirmed on August 5. The move gives Naver full control of the popular C2C platform, which boasts over 19 million monthly users. Rob Cassedy, CEO of Wallapop, told Business Korea, “We will strengthen our position in the European market by securing differentiated service competitiveness.” Will this shake up Europe’s second-hand scene?
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Lufthansa exits
LUFTHANSA has pulled out of talks to buy into Air Europa, leaving Turkish Airlines as the Spanish carrier’s sole option after Air France-KLM also withdrew and IAG was ruled out as a takeover candidate by competition concerns.
BK-Iberdrola
BURGER KING and Iberdrola España have signed a long-term deal for 1,900 GWh of renewable electricity, now powering over 900 Spanish restaurants. The partnership includes 348 EV charging points across 173 sites, supporting the chain’s green energy transition.
Parents struggling
LOQBOX’S 2025 Parents’ Planner reveals 81 per cent of UK parents feel financially strained this summer, with over half worse off than last year. Rising holiday, childcare, and school costs are pushing more families to rely on credit cards.
WFH
NEARLY half of UK businesses now want staff back in the office full-time, according to the British Chambers of Commerce. Despite 9 per cent reporting staff resignations over inflexibility, many firms are saying no to working from home – some linking it to bonuses.
Data ban
SPAIN’S Data Protection Agency has blocked the Chamber of Commerce and companies including Camerdata and Informa from selling self-employed workers’ data, citing no legal basis. The AEPD says such use violates GDPR transparency rules and must stop immediately.
Banco Sabadell
BANCO SABADELL has teamed up with DXC Technology to make its digital banking services more accessible, especially for people with disabilities. As PR Newswire reports, the AI-led project is run from the bank’s Alicante tech hub and aims to meet Spanish and EU accessibility standards while improving inclusion for its 12 million users.
Gibraltar delisted
GIBRALTAR was officially taken off the EU’s list of high-risk third countries as reported by an official press release on August 5, 2025. This follows major improvements to its anti-money laundering (AML) and counter-terrorism financing (CFT) systems.
“This is good for business. It is good for trade,” said Minister Nigel Feetham KC MP.
MAPFRE soars
MAPFRE AM now manages €39.67 billion, making it Spain’s largest non-bank asset manager. Profits hit €25.95 million in H1 2025 – up 19.4 per cent. Client assets rose 4 per cent, driven by €297 million in net subscriptions across investment and pension funds.
W2M expansion
W2M has appointed Elena Cabrera – former Ryanair country manager for Spain, Portugal, France, and Morocco – to lead its international growth. She’ll drive the Spanish group’s expansion into markets like Morocco and Central Europe, strengthening its global broadcasting presence.
Statistic of the week:
The M&A market in Spain fell by 17 per cent in July 2025.
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