FINANCE

Business Extra

Rice pests

COYPUS, non ­ native otters from South America, are one of Catalonia’s most recent invasive species. They are also causing problems in the traditional rice­growing area of Ampurdan (Girona) where growers asked the regional government to intervene to save this year’s crop.

Less good

THE International Monetary Fund (IMF), believes that 2023 may be better than expected for the global economy, as positive figures ease predictions of worldwide recession. The outlook is less good for Britain, predicted to have the G20’s lowest 2023 growth.

Argos goes

ARGOS will close its 34 stores in Ireland in late June. Recent accounts for its Irish operation showed a pre­tax loss of €13 million in 2022 and the company maintained that the investment required to modernise operations there was inviable.

Tax blow

SPANISH multinational Telefonica’s Peru subsidiary lost its long­running multi­million tax dispute against the government in Lima regarding tax declarations made between 1998 and 2005. The Supreme Court in Madrid ordered the company to pay €790 million compensation, its largest­ever fine.

Royal bounty

KING CHARLES announced that profits from his £1 billion deal leasing six offshore windfarms off different sections of the British coast would be used for the “wider public good.” This follows Charle’s reference to the cost­of­living crisis in his Christmas speech.