Finance news. Credit: Pavel Danilyuk, Pexels
Zipcar’s UK exit?
ZIPCAR is consulting on shutting its UK operations by year-end, telling customers it has suspended all new bookings beyond December 31, 2025. The US-based car-sharing firm, which has over 650,000 UK members and more than 3,000 vehicles, said employees have entered formal consultation. Subscription holders will receive pro-rated refunds, and those with 2026 bookings will be contacted. No reason for the proposed closure was given, despite recent expansion, including a Hackney EV-sharing pilot.
Cycle0 expands in Spain
BIOMETHANE developer Cycle0 has commissioned two new plants in Manlleu (Barcelona) and Artajona (Navarra), bringing its Spanish operational portfolio to seven sites. Each facility converts cattle waste into up to 120 Nm³/h of biomethane, using upgrading technology from FNX, a Cycle0 subsidiary. The renewable gas will be injected into the network via a virtual pipeline. Cycle0 said the projects support local farmers and advance Spain’s Biogas Roadmap.
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Zara in Barcelona
ZARA has reopened its fully redesigned Diagonal Avenue store in Barcelona, one of its most luxurious spaces and the first created by Belgian architect Vincent Van Duysen. Inditex president Marta Ortega attended the launch, part of the brand’s accelerated repositioning strategy. The premium-focused concept reflects Zara’s global shift toward higher-value collections. Zara and Zara Home contribute 72 per cent of Inditex revenue (€27.7 billion in 2024).
M&S live shopping
MARKS & SPENCER has begun a five-day festive Live Shopping event as it taps into surging demand for entertainment-led e-commerce. Streaming via Facebook and Instagram, the series features UK influencers offering advice across fashion, beauty, gifting and hosting. M&S research shows 40 per cent of shoppers plan to spend the same as last year, prompting curated offers for all price points. Daily themed broadcasts aim to make Christmas purchasing “stress-free” while reflecting consumers’ shift toward social-first shopping experiences.
Gamesa Electric acquired
ABB has completed its acquisition of Gamesa Electric’s power electronics business from Siemens Gamesa, strengthening its position in high-power renewable energy conversion. The deal, first announced in December 2024, includes wind converters, BESS systems and utility-scale solar inverters, alongside around 400 employees and two factories in Madrid and Valencia. Financial terms were not disclosed. ABB confirmed that Gamesa Electric generated approximately €145 million in revenue in the year to 30 September 2025. The Swiss group has also signed a supply and services agreement with Siemens Gamesa as it expands its global footprint in clean-energy technologies.
UK growth outlook
The OECD expects the UK to be the third-fastest growing G7 economy in 2026, forecasting GDP growth of 1.2 per cent. In its latest report, the Paris-based organisation warned Chancellor Rachel Reeves that tight public spending and higher taxes could restrain consumer demand. The UK is projected to outperform France, Germany, and Italy, but lag behind the US, forecast to grow 1.7 per cent. The OECD said fiscal constraints and weak household confidence remain key challenges as the government seeks to sustain economic momentum next year.
Qida appointment
QIDA has named Jordi Tusell its new Director of the Public Sector after two decades in leadership posts. He previously served as Managing Director for Spain at Falck and spent 20 years at ISS Facility Services. Tusell holds business qualifications from Esade and IESE.
Crypto property
THE UK has passed the Property (Digital Assets etc.) Act 2025, formally recognising crypto such as bitcoin and stablecoins as a new third category of property. Industry body CryptoUK says this gives digital assets a “clearer legal footing” for ownership and criminal cases.
HL appointment
HARGREAVES LANSDOWN has appointed Vanguard’s Doug Abbott as chief product officer, overseeing its £11bn HL Fund Management range and leading third-party partnerships. Abbott, formerly in senior roles at Schroders before joining Vanguard in 2024, will be reporting to CEO Richard Flint.
Spanish services
SPAIN’S services sector kept growing in November but at a slightly slower pace, the HCOB PMI showed. The index dipped to 55.6 from 56.6, still signalling solid growth for a 27th month. Domestic demand stayed strong, though international sales fell.
Dakhla investment
A Canary Islands business delegation visited Dakhla in the Moroccan Sahara to explore investment opportunities, particularly in port, maritime, and logistics sectors. The group met regional authorities and toured the Dakhla Atlantic port project, which FEDEPORT said offers major strategic opportunities.
Saab systems
SAAB has confirmed the Spanish Army’s first order for its Individual Duel Simulation systems under a new framework agreement worth up to €34 million. The package includes GAMER live training equipment and soldier systems, to be delivered with local partner Tecnobit and deployed across multiple regiments in Spain.
IESE leads Spain
IESE is Spain’s top performer in the Financial Times 2025 European Business School Rankings, placing 5th overall. Esade and IE Business School also score strongly – 11th and 21st. The UK sees standout results for London Business School (3rd) and Oxford Saïd (14th). Rankings span 100 institutions.
Rioja winery restructures
BODEGAS SONSIERRA, Rioja’s second-largest bottling cooperative, will convert into a Limited Liability Company after 87 per cent of members approved the change, aiming to become “more agile and competitive across global markets,” general manager Luis Del Águila Rodríguez said. Founded in 1961, the group became the first Rioja cooperative to market bottled wine and is known for incentivising growers to preserve old vines by paying double for grapes from these parcels. Members will remain shareholders, though the board will be dissolved. Del Águila said the shift removes slow decision-making requirements and resolves challenges linked to returning capital when members retire, reflecting a broader national decline in cooperatives.
Cushman & Wakefield
CUSHMAN & WAKEFIELD has appointed Álvaro Alonso as managing partner for its residential and corporate finance practice in Spain. He joins from EY, where he led M&A services in the financial sector, following a long career at Colliers International in senior corporate finance roles.
BOE announcement
BANK OF ENGLAND’S Andrew Bailey warned financial risks increased in 2025 due to geopolitics and stretched asset prices, especially in AI-related markets. Even so, stress tests show UK banks remain resilient, with capital requirements lowered to around 13 per cent.
Statistic of the week:
The total expenditure of international tourists visiting Spain in October increased by 7.4% and reached €12,785 million.
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