\n Finance news. Credit: Pavel Danilyuk, Pexels <\/p>\n
Zipcar\u2019s UK exit?<\/strong><\/p>\n 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.<\/p>\n Cycle0 expands in Spain<\/strong><\/p>\n 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 Nm\u00b3\/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\u2019s Biogas Roadmap.<\/p>\n Most Read on Euro Weekly News<\/p>\n Zara in Barcelona <\/strong><\/p>\n 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\u2019s accelerated repositioning strategy. The premium-focused concept reflects Zara\u2019s global shift toward higher-value collections. Zara and Zara Home contribute 72 per cent of Inditex revenue (\u20ac27.7 billion in 2024).<\/p>\n M&S live shopping <\/strong><\/p>\n 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 \u201cstress-free\u201d while reflecting consumers\u2019 shift toward social-first shopping experiences.<\/p>\n Gamesa Electric acquired<\/strong><\/p>\n ABB has completed its acquisition of Gamesa Electric\u2019s 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 \u20ac145 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.<\/p>\n UK growth outlook<\/strong><\/p>\n 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.<\/p>\n Qida appointment<\/strong><\/p>\n 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.<\/p>\n Crypto property<\/strong><\/p>\n 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 \u201cclearer legal footing\u201d for ownership and criminal cases.<\/p>\n HL appointment<\/strong><\/p>\n HARGREAVES LANSDOWN has appointed Vanguard\u2019s Doug Abbott as chief product officer, overseeing its \u00a311bn 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.<\/p>\n Spanish services<\/strong><\/p>\n SPAIN\u2019S 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.<\/p>\n Dakhla investment<\/strong><\/p>\n 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.<\/p>\n Saab systems<\/strong><\/p>\n SAAB has confirmed the Spanish Army\u2019s first order for its Individual Duel Simulation systems under a new framework agreement worth up to \u20ac34 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.<\/p>\n IESE leads Spain<\/strong><\/p>\n IESE is Spain\u2019s top performer in the Financial Times 2025 European Business School Rankings<\/a>, placing 5th overall. Esade and IE Business School also score strongly \u2013 11th and 21st. The UK sees standout results for London Business School (3rd) and Oxford Sa\u00efd (14th). Rankings span 100 institutions.<\/p>\n Rioja winery restructures<\/strong><\/p>\n BODEGAS SONSIERRA, Rioja\u2019s second-largest bottling cooperative, will convert into a Limited Liability Company after 87 per cent of members approved the change, aiming to become \u201cmore agile and competitive across global markets,\u201d general manager Luis Del \u00c1guila Rodr\u00edguez 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 \u00c1guila 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.<\/p>\n Cushman & Wakefield<\/strong><\/p>\n CUSHMAN & WAKEFIELD has appointed \u00c1lvaro 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.<\/p>\n BOE announcement <\/strong><\/p>\n BANK OF ENGLAND\u2019S 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.<\/p>\n Statistic of the week:<\/p>\n The total expenditure of international tourists visiting Spain in October<\/a> increased by 7.4% and reached \u20ac12,785 million.<\/strong><\/p>\n View all\u00a0finance news.<\/a><\/p>\n View all\u00a0news from Spain.<\/a><\/p>\n