\n Finance news, UK and Spain. Credit: Ali Bensoula, Pexels <\/p>\n
This week\u2019s round-up of finance news\u2026<\/p>\n
U<\/strong>K SME lending hits 3-year high<\/strong><\/p>\n Business lending by UK high street banks rose to \u00a34.6 billion in Q1 2025, a 14 per cent year-on-year increase, according to UK Finance cited by Financial Reporter. <\/a>The biggest boost came from small businesses, with lending up nearly 30 per cent, and loan approvals up 37 per cent. Shawbrook\u2019s Neil Rudge warned, \u201cThe real issue isn\u2019t the availability of capital \u2013 it\u2019s the appetite for it.\u201d<\/p>\n Newable exits UK export scheme<\/strong><\/p>\n Newable, the only non-bank lender in the UK\u2019s Export Finance Guarantee Scheme, has halted new loans, delivering a blow to small exporters, according to GTR<\/a>. A UKEF spokesperson confirmed: \u201cNewable has informed customers that it has paused new applications to UKEF\u2019s General Export Facility.\u201d The firm was removed from UKEF\u2019s participant list on June 9, despite having backed 529 SME deals worth \u00a328 million (\u20ac33 million) since 2021. Will banks now step in?<\/p>\n Most Read on Euro Weekly News<\/p>\n \u00a0<\/strong><\/p>\n Revolut\u2019s AI finance assistant<\/strong><\/p>\n Revolut will soon roll out an AI-powered financial assistant to help users make smarter money decisions, according to Bloomberg. UK CEO Francesca Carlesi confirmed the launch at a Bloomberg event in Milan on June 17. The tool will offer personalised financial guidance, with a gradual rollout planned across 2025. Revolut\u2019s user base hit 52.5 million in 2024, with CEO Nik Storonsky saying they\u2019re \u201cjust getting started.\u201d<\/p>\n WollettePay to launch in UK<\/strong><\/p>\n Wollette will launch WollettePay, a direct account-to-account (A2A) payment system, in Q4 2025, according to Fintech News<\/a>. The service aims to simplify open banking with instant, one-tap payments using biometric verification and encryption \u2013 no need for entering card details.<\/p>\n CEO Henry Orunkoya said, \u201cWe are giving consumers and merchants a payment experience that is finally as simple as it should be.\u201d<\/p>\n Pre-registration opens in July 2025.<\/p>\n JPMorgan UK CEO<\/strong><\/p>\n JPMorgan has appointed Maric\u00e9 Brown as CEO of its UK private bank, effective Q3, following Oliver Gregson\u2019s departure, FN London<\/a> reports. Brown currently heads JPMorgan Private Bank Mexico. A spokesperson said she brings \u201cdeep experience and strong leadership skills to the UK market.\u201d The move reflects broader leadership reshuffles across JPMorgan.<\/p>\n \u00a0<\/strong><\/p>\n Spain\u2019s bonds in demand<\/strong><\/p>\n Spain\u2019s government bonds are gaining popularity as the yield spread over German bunds narrows, reflecting renewed investor confidence, Investing.com reports<\/a>. JP Morgan analyst Nikolaos Panigirtzoglou noted: \u201cPeripheral bonds are now outperforming core bonds.\u201d Spain\u2019s 3.2 per cent GDP growth and stable fiscal outlook are fuelling the rally.<\/p>\n Spain\u2013France power link<\/strong><\/p>\n The European Investment Bank will invest \u20ac1.6 billion in a 400km subsea power line linking Spain and France, set to double electricity capacity by 2028, Euractiv reports<\/a>. EIB Vice-President Ricardo Mourinho F\u00e9lix said: \u201cThis project is key to strengthening Europe\u2019s energy resilience and solidarity.\u201d<\/p>\n Iberia expanding fleet<\/strong><\/p>\n Spanish airline Iberia will expand its long-haul fleet from 45 to 70 aircraft by 2030, investing a huge \u20ac6 billion, mainly from its own funds, Investing.com reports<\/a>. CEO Marco Sansavini said the move supports new direct routes to Toronto, Philadelphia, and Monterrey.<\/p>\n Zunder slams Spanish delays<\/strong><\/p>\n Ultra-fast EV charging firm Zunder says building a hub in Spain can take \u201ctwice as long\u201d as in France due to red tape, MobilityPlaza reports<\/a>. B2B Director Alberto Herrero added: \u201cWe can\u2019t afford mistakes\u2026 If we don\u2019t sell energy, we close.\u201d<\/p>\n Singapore lessons to the UK<\/strong><\/p>\n A House of Lords committee<\/a> urges the UK to emulate Singapore\u2019s fast\u2011track fintech policies and low\u2011tax model to boost growth. While sandbox reforms exist, lawmakers say the UK needs more urgent implementation to stay competitive.<\/p>\n UK rate freeze<\/strong><\/p>\n UK inflation held at 3.4 per cent in May, keeping core rates above target. Economists expect the Bank of England to hold interest rates at 4.25 per cent, with energy price volatility further complicating decisions, cited by The Times.<\/a><\/p>\n Cirsa IPO in Madrid<\/strong><\/p>\n BLACKSTONE\u2011owned Spanish gaming group Cirsa plans a \u20ac460M IPO on Madrid\u2019s stock exchange later this year. Proceeds aim to fuel expansion and reduce debt, with Morgan Stanley and Barclays as lead coordinators, as reported by Reuters.<\/a><\/p>\n UK Fintech dip<\/strong><\/p>\n UK fintech deal numbers are set to drop by 28 per cent in 2025, as investors prefer fewer, larger deals. 58 deals were recorded in the first quarter of 2025, representing a 52 per cent drop from Q1 2024, as reported by Fintech Global.<\/a><\/p>\n Statistic of the week:<\/p>\n CaixaBank<\/a> reveals that the blackout<\/a> caused a 34 per cent fall in consumption spending by Spanish households that day.<\/p>\n