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UK appointments
THE UK Prime Minister announced on September 1 the appointment of Darren Jones MP as Chief Secretary to the Prime Minister and Baroness Minouche Shafik as Chief Economic Advisor, bolstering Downing Street’s operation as Parliament returns.
According to the official government press release, Jones’ new ministerial role will be based inside Number 10, overseeing cross-government delivery of the Prime Minister’s “Plan for Change.” The Chief Secretary post is a new Cabinet-attending position designed to accelerate policy progress.
Alongside Jones, the Prime Minister directly appointed Baroness Shafik, described as a “world leading economist.” Her career includes senior posts as Permanent Secretary at the Department for International Development, Deputy Managing Director of the International Monetary Fund, Deputy Governor of the Bank of England, and President of the London School of Economics. She was awarded a Damehood in 2015 and became a crossbench peer in 2020.
Spain’s manufacturing
SPAIN’S manufacturing industry grew at its fastest pace in 10 months in August, Reuters reported. The HCOB Spain Manufacturing PMI rose to 54.3, up from 51.9 in July, with a sharp rise in output and new orders.
Jonas Feldhusen of Hamburg Commercial Bank said, “Manufacturers are expanding their workforce… while stocks of finished goods continue to decline due to stronger sales.” The Spanish government expects 2.6 per cent growth in 2025.
Mango Teen expands
SPAIN’S Mango Teen will open around 20 new shops in 2025, including its first stores in Scotland, France and Portugal.
Recent openings include Glasgow, Lyon and Lisbon. Berta Moral, global director of Mango Kids and Teen, said, “The opening of new Mango Teen shops… reflects our desire to continue to inspire and bring our passion for fashion, style and quality to young people around the world.”
The youth line, launched in 2021, has more than 40 independent stores.
Huawei cancelled
SPAIN’S digital ministry has cancelled a €10 million contract between Huawei and Telefónica, citing “digital strategy and strategic autonomy considerations,” El País reported.
The deal would have expanded Huawei’s role in the RedIRIS-NOVA network, which connects over 500 universities and research centres, including the Defence Ministry.
According to CryptoRank, the move follows EU and US pressure to curb “high-risk vendors” amid espionage fears. Huawei has repeatedly denied posing any security threat.
Solar and battery plant
SOLAR ORGANIC Centro España will build a 10GW solar panel and battery factory in Socuéllamos, Ciudad Real, set to be one of Europe’s largest clean energy projects.
Regional officials called it a “priority project” that has taken “a step forward” in securing EU aid. Mayor Conchi Arenas said it will “consolidate the municipality as a hub for clean energy and technology.”
Could this mega-factory put Spain at the forefront of Europe’s solar race?
Stark Future
BARCELONA-BASED Stark Future has crossed the €100 million mark in its latest equity round, the company confirmed.
CEO Anton Wass said, “We managed to close it within a couple of weeks, which is a strong testament to the results our team has created.” He added: “We are on a mission to prove that electric motorcycles can outperform ICE in every way.”
Founded in 2020, Stark has already achieved profitability and distributes its flagship VARG motocross bike to over 70 countries worldwide.
Consumer Price Index
SPAIN’S Consumer Price Index (CPI) remained at 2.7 per cent year-on-year in August, the National Statistics Institute (INE) reported.
The INE said the figure reflected “the upward influence of fuel… and the downward influence of food and non-alcoholic beverages… and electricity.” Core inflation, which excludes energy and unprocessed food, rose to 2.4 per cent, its highest since April.
The Ministry of Economy said: “Price stability and wage increases are allowing families to gradually recover their purchasing power.”
Valuation accounts
THE UK government is urging firms to register for a business rates valuation account, ahead of changes due in 2026. Alan Colston of the Valuation Office Agency said, “We publish future property valuations… so businesses can check the facts.”
Lotus loss
LOTUS reported a £195m half-year loss and will cut 550 staff at its Hethel site, EDP said. Sales fell sharply in Europe and the US after Trump tariffs, though China orders rose 13 per cent.
North West
THE North West will receive a £9.3m Local Transport Grant, BBC News reported. Transport secretary Heidi Alexander said the funding ensures “every part of the country benefits from better transport links.” Rose McArthur added it will help deliver “brilliant transport services” across Cheshire West.
UK borrowing
UK 30-year bond yields jumped to 5.72 per cent, the highest since 1998, according to national reports in the first week of September. Chancellor Rachel Reeves faces speculation over tax rises in the autumn Budget, as Susannah Streeter warned investors were “clearly concerned.”
Catalonia’s debt
SPAIN will forgive €83.3 billion in regional debt, including €17bn for Catalonia and €18.8bn for Andalusia, Catalan News reported. Finance minister María Jesús Montero stressed the measure “will not affect the country’s public deficit or overall public debt.”
Victoria Beckham brand
VICTORIA BECKHAM’S fashion label has received a £6.2 million loan from David and Victoria Beckham and private equity firm Neo this year, even as pre-tax losses widened to almost £5m. The news was revealed in accounts filed at Companies House.
Despite the losses, sales rose 26.5 per cent to £112.7m in 2024, the brand’s fourth year of consecutive growth. Growth was driven by strong trade at the London flagship store and a 24 per cent leap in online cosmetics sales, including products such as a new concealer pen and eyeliner.
The accounts warned of “material uncertainties which may cast significant doubt over the group and company’s ability to continue as a going concern.” They also noted plans to “drive cost reductions” and pursue “a streamlining of operations and creating a model for the longer term.”
Shareholders, who also invested £6.9m in 2023, include Simon Fuller, Neo, and the Beckhams. The latest funds were described as necessary to “sustain the group’s growth plans,” which include expanding into department stores in the UK and France and capitalising on a new Netflix docuseries.
Gibraltar property
PROPERTY transactions in Gibraltar fell from 638 to 344 in 2024–25, with the total annual value dropping to £202m, GBC reported. The average transaction rose to £587,731. Minister Gemma Arias Vasquez said the report shows “momentum in supporting the business community.”
Fruit and veg
SPAIN’S fresh fruit and vegetable imports rose 9 per cent in volume and 14 per cent in value in H1 2025, reaching 2.4m tonnes worth €2.96 billion, Eurofruit reported. Potatoes led overall, while avocados showed “notable growth,” becoming the highest-value fruit at €327m.
UGT demands
SPAIN’S General Workers’ Union (UGT) is demanding the inclusion of a housing cost indicator in collective bargaining, alongside business margin data, to ensure pay better reflects “the real cost of living and the business economic situation,” the union said in a statement.
UGT highlighted that rents in some regions now consume “more than 100 per cent of net wages,” while home purchase prices have already surpassed 2008 bubble levels. Despite average salary increases of 3.46 per cent, purchasing power remains squeezed.
The union insists housing affordability must play a central role in future wage talks.
Vanetta Food
SPANISH startup Vanetta Food has secured new funding, raising its valuation by 70 per cent in a year, Vegconomist reported. CEO Águeda Ubeira said the backing shows “plant-based protein can conquer the hospitality industry without losing flavour or authenticity.”
Grape ban
SPAIN will ban grape and vine seed imports from countries with phylloxera, though table grapes are exempt, La Voz de Lanzarote reported. Canary Islands agricultural minister Narvay Quintero called it “an essential action to shield the Archipelago against the entry of risk elements.”
Statistic of the week
The international tourists’ expenditure in July was 16.4 million, according to INE.
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