Spain and UK Finance News Round-Up, September 3

Financial news. Credit: Pavel Danilyuk, Pexels

British appointments

On September 1, the British Prime Minister announced that he had appointed MP Darren Jones as prime minister, and Barones Minush Shafik as Chief Economic Advisor, and had strengthened Downing Street operations when Parliament returns.

According to an official government press release, Jones’ new minister’s role is based on the internals of No. 10, overseeing the PM’s “plan of change” crossing the government. The Secretary-General is a new Cabinet Office designed to accelerate policy progress.

Along with Jones, the Prime Minister directly appointed Barones Shafik, known as the “world’s leading economist.” Her career includes senior positions as permanent secretary of the International Development Bureau, deputy managing director of the International Monetary Fund, lieutenant governor of the Bank of England and chairman of the London School of Economics. She was awarded the Damehood in 2015 and became a crossbench pier in 2020.

Manufacturing in Spain

Spanish manufacturing grew at its fastest pace in 10 months in August, Reuters reported. HCOB Spanish-made PMI rose to 54.3, up from 51.9 in July, with production volumes and new orders rising sharply.

“Manufacturers are expanding their labor force, while stocks of finished products continue to decline as sales are strengthened.” The Spanish government expects growth of 2.6% in 2025.

Mango Teen Expands

Spanish Mango Teen will open around 20 new shops in 2025. This includes the first stores in Scotland, France and Portugal.

Recent openings include Glasgow, Lyon and Lisbon. “The opening of the new Mango Teen Shop reflects the desire to continue to inspire and bring to youth around the world with a passion for fashion, style and quality,” said Bertamoral, global director of Mango Kids and Teen.

The Youth Line, released in 2021, has over 40 independent stores.

Huawei has been cancelled

Spain’s Digital Ministry has cancelled a 10 million euro contract between Huawei and Telefónica, citing “digital strategy and strategic autonomy considerations.” country It has been reported.

The contract will expand Huawei’s role in the Rediris-Nova network that connects more than 500 universities and research centers, including the Ministry of Defense.

According to Cryptorankthe move follows pressure from the EU and the US to curb “risky vendors” amid the fear of spying. Huawei has repeatedly denied pose a security threat.

Solar and Battery Plants

The Solar Organic Centro España will build a 10GW solar panel and battery factory at Ciudad Real’s Socuéllamos, making it one of Europe’s largest clean energy projects.

Regional authorities called it a “priority project” that “takes a step forward” to secure EU aid. Mayor Conciarenas said “We will integrate local governments as a hub for clean energy and technology.”

Can this big order put Spain at the forefront of European solar racing?

Stark Future

Barcelona-based Stark Future has surpassed the 100 million euro mark in its latest equity round, the company confirmed.

CEO Anton Wass said, “We were able to close it within a few weeks, which is a strong testimony of the outcome our team created,” he added. “We are on a mission to prove that electric motorcycles can surpass ice in all respects.”

Founded in 2020, Stark has already achieved profitability and distributes its flagship Varg Motocross bikes to over 70 countries around the world.

Consumer Price Index

Spain’s Consumer Price Index (CPI) remained at 2.7% year-on-year in August, the National Institute of Statistics (INE) reported.

INE said the figures reflect “upward influence of fuel and downward impact of food and non-alcoholic beverages and electricity.” Core inflation, which excludes energy and raw foods, rose to its highest since April.

The Ministry of Economy states, “Price stability and increased wages have allowed families to gradually recover their purchasing power.”

Rating account

The UK government is urging businesses to register in business fee valuation accounts ahead of the planned changes in 2026. “We will publish future real estate valuations,” Alan Colston of the Evaluation Bureau.

Lotus Lost

Lotus reports a six-month loss of £195 million and cuts 550 staff on its Hethel site. edp I said. China’s orders rose 13%, but sales in Europe and the US fell sharply after Trump’s tariffs.

Northwest

The northwest will receive a local transportation grant of £9.3 million. BBC News It has been reported. Transport Secretary Heidi Alexander said the funding “ensures that every part of the country will benefit from a better transport link.” Rose MacArthur added that it will help provide “great transport services” throughout Cheshire West.

UK borrowing

According to a national report in the first week of September, the UK’s 30-year bond yield jumped to 5.72%, the highest since 1998. Prime Minister Rachel Reeves faces speculation about tax increases in the fall budget as Susanna Streeter warned investors were “clearly concerned.”

Catalonian debt

Spain will allow 83.3 billion euros of regional debt, including 17 billion euros in Catalonia and 18.8 billion euros in Andalusia. Catalonia News It has been reported. Finance Minister Maria Jesus Montero emphasized that the measure “will not affect the state’s public deficit or overall debt.”

Victoria Beckham Brand

The Victoria Beckham fashion label has received £6.2 million loans this year from David and Victoria Beckham and private equity firm NEO, but pre-tax losses have grown to nearly £5 million. The news was revealed on an account submitted to Companies House.

Despite the losses, sales in 2024, the brand’s fourth consecutive year, rose 26.5% to £112.7 million. Growth was driven by a strong trade at London’s flagship stores and a 24% leap in online cosmetics sales, including products such as new concealer pens and eyeliner.

The account warned of “important uncertainty that could raise great doubts about the company’s ability to continue as a continuing concern.” They also looked at plans to “promote cost reductions” and pursue “rationalizing operations and creating long-term models.”

Shareholders who invested £6.9 million in 2023 include Simon Fuller, Neo and Beckham. The latest funding was described as necessary to “maintain the group’s growth plan.” This includes expansion into department stores in the UK and France, as well as capital for the new Netflix Docusary.

Gibraltar Properties

Gibraltar real estate transactions fell from 638 to 344 in 2024-25, with the annual total falling to £202 million. GBC It has been reported. The average trading rose to £587,731. Minister Gemma Arias Vazquez said the report showed “momentum to support the business community.”

Fruits and vegetables

Spain’s fresh fruit and vegetable imports increased 9% and 14% in value in H1 2025 to 2.4 million tonnes worth 296 million euros. eurepurit It has been reported. Potatoes led overall, while avocados showed “notable growth” and became a fruit with a high of 327 million euros.

UGT Request

The Spanish General Trade Union (UGT) requires collective bargaining to include housing cost indicators in collective bargaining in order for salaries to better reflect “the true economic situation of living and business.”

UGT emphasizes that while some regions consume “more than 100% of their net wages,” home purchase prices are already above the 2008 bubble level. Despite the average salary increasing by 3.46%, purchasing power continues to be narrowed.

The union argues that affordability in housing must play a central role in future wage consultations.

Vanetta Food

Spanish startup Vanetta Food has secured new funding and raised its rating by 70% in a year. Vegconomist It has been reported. CEO Agueudu Ubeira said the backing indicates that “plant-based proteins can conquer the hospitality industry without losing flavor or reliability.”

Grapes are prohibited

Spain bans the import of grapes and grape seeds from the country of phylloxera, although table grapes are exempt. La Voz de Lanzarote It has been reported. Narbey Quintero, Minister of Agriculture in Canary Islands, called it “essential action to protect the archipelago against the entry of risk factors.”