Finance Extra for the UK and Spain « Euro Weekly News

Era ends After 194 years, Royal Mail has announced that it will no longer use its own trains to move mail overnight, with its remaining trains mothballed in October as it increasingly switches to road transport.  The decision coincides with parent company International Distributions Services’s decision to accept a £3.6 billion (€4.27 billion) takeover offer from Czech billionaire Daniel Kretinsky.

Liquid gold Acesur, which produces the Coosur and La Española olive brands, posted record sales of €1.102 billion in 2023.  This was 25 per cent more than last year and the first time that the Jaen-based company’s revenue topped €1 billion.

Having fun A TSB survey, How Britain Spends, noted a 9.2 per cent increase in outlay on airlines and travel companies during the first half of 2024, compared with the same period last year.  The British spent 5.1 per more on concerts, the cinema and theatre and a huge 20.2 per cent more on visiting amusement parks, the TSB found.

Indra approval The US Federal Aviation Administrator (FAA) has added Indra’s Surface Awareness Initiative (SAI) to its Qualified Products list.  The Spanish company’s system, which increases runway safety by providing real-time surface aircraft movement data, may now be installed at any US airport with a staffed control tower.

Belt tightened London-based Burberry will cut jobs as it introduces cost-cutting measures to bolster declining profits, the Telegraph reported.  The company has lost more than a third of its stock market value since January and, as one of the worst performing FTSE companies, is on the bring of relegation from the index. 

No thanks ASDA supermarkets abandoned plans to introduce a 44-hour, four-day working week after a trial flopped at 20 stores.  Employees said the 11-hour shifts were so physically demanding that they could not enjoy the extra free day and the new hours clashed with childcare.

Wait and see Indian bus company Switch Mobility has suspended until 2026 its plans to build a €100 million factory to produce electric buses in Valladolid.  The company contacted Valladolid city hall on July 8 to explain that it intended in the meantime to evaluate the evolution of the market for electric vehicles in Europe.

Jobs lost Billionaire Sir James Dyson is slashing 1,000 British jobs following a review of the company’s worldwide operations. “The company operates in an increasingly fierce and competitive global markets, where pace of innovation and change is only accelerating,” the British inventor, best known for his bagless vacuum cleaner, said.