Axarquia 1 – 7 June 2023 Issue 1978

Page 1

PP POWERS AHEAD

THE Partido Popular (PP) emerged victorious across Axarquia in the nationwide local elections held on Sunday, May 28. The PP garnered 38,448 votes, securing 134 council seats. This surpasses the 23,921 votes and 124 councillors clinched by the rival Socialist Party (PSOE).

Although the PSOE claimed victory in 15 towns, surpassing the PP’s triumph in 13, it was the PP that clinched power in key coastal towns including Rincon de la Victoria with Francisco Salado, Nerja with José Alberto Armijo, Torrox with Óscar Medina, and Algarrobo, with Natacha Rivas who all secured absolute majorities.

The PP also took Velez­Malaga, although a coalition was required. Jesús Lupiáñez is set to lead the council with Andalucía Por Sí or the Independent Group.

Voters also elected PP­majority councils in Canillas de Albaida, Canillas de

Aceituno,and Cutar.

Meanwhile, the PSOE secured absolute victories in inland towns including Macharaviaya, La Vinuela, Frigiliana, Iznate, Almachar, Colmenar, Alfarnate, Sayalonga and Alcaucin.

Vox secured five council seats across Axarquia, including two in Rincon de la

Raising the bar

HEALTHCARE improvements are on the horizon for Competa residents as the town’s new cutting edge medical centre reaches the end of a long­awaited construction project according to an update given on Friday, May 26.

Victoria. Ciudadanos, on the other hand, only managed to secure two council seats in the region.

With both the PP and PSOE continuing to have influence across Axarquia, the elections have set the stage for a diverse political landscape, where different parties will collaborate to shape the future.

Taste of tradition

THE regional government has announced an innovative initiative to simplify the accreditation process for Axarquia’s traditional, distinctive raisin according to an announcement on Friday, May 26.

This move aims to support local farmers and ensure the preservation of their unique growing methods while opening the doors to much­needed financial assistance.

Raquel Espín, Director General of Direct Aid and Markets at the Ministry of Agriculture, Fisheries, Water, and Rural Development, along with Fernando Fernández Tapia­Ruano,

the Provincial Delegate of the Ministry, recently met with representatives from the Axar­

quia and Malaga region raisin sector to discuss steps for applying for aid.

The new regulations require a contractual agreement between raisin producers and processors. Unlike with other crops, the drying process for the raisins is carried out by the farmers themselves on their own farms.

This meeting set the groundwork for accrediting farmers as Axarquia raisin producers, which will bring them several benefits and economic assistance due to the status of the Axarquia ‘uva pasa’.

as part of a ‘Globally Important Agricultural Heritage System’, recognised internationally.

This state­of­the­art centre, overseen by the regional Andalucian Government’s Ministry of Health and Consumer Affairs, is set to revolutionise healthcare access for residents not only in Competa but also in the neighbouring towns of Archez, Canillas de Albaida, Sayalonga, Salares, and Sedella.

The project, which involved transforming a

sprawling municipal plot near the town’s car park, received a €400,000 investment which has resulted in a five­fold increase in space compared to the existing clinic. The increased space means that health providers can provide enhanced services and comfort for patients and staff.

The new health centre consists of five consultation rooms for adult patients, a maternity education area, a dedicated paediatric department with a consultation room and waiting room, an emergency area, as well as changing rooms, bathrooms, a lounge, and a sleeping area for staff members.

AXARQUIA - COSTA TROPICAL • EUROWEEKLYNEWS.COM FREE • GRATIS Issue No. 1978 1 - 7 June 2023
Populares de Vélez-Málaga
Photo credit:
SET TO LEAD: Jesús Lupiáñez is the new mayor of Velez-Malaga. Regional authorities want to support the raisin industry. Photo credit: Junta de Andalucía
THE BEST FINANCE NEWS ON PAGES 12 ­ 16

Antequera excursion

LUX MUNDI Ecumenical Centre in Torre del Mar is gearing up to host another exciting excursion on Thursday, June 29. This time, the group will be heading to Antequera and El Torcal on a coach trip.

Departing from Algarrobo at 8am, Caleta at 8.05am, and Torre del Mar at 8.15am.

It starts with a guided tour of the Roman town of Antequera at 10am, presented in English. At 11.30am, participants will

explore the Los Dolmenes complex, with a guide.

From 1.30pm to 3.30pm, there will be a break for lunch.

Next on the itinerary is El Torcal, where guests will embark on a captivating two­hour guided tour of the national park. The coach will depart for the return journey at 6pm.

Tickets cost €32 for Lux Mundi members and €35 for non­members.

Betty Henderson

SAMARITANS IN

provides a confidential listening service to all English speakers, of any age in mainland Spain and the islands totally free of charge.

They do this because they believe in the importance of having the opportunity to explore difficult feelings and in doing so, alleviate the despair that can lead to suicidal thoughts.

Samaritans in Spain want everyone to know that there is someone there who is

AS the season draws to a close, Nerja International Club is preparing to end on a high note with two exciting events that are bound to leave everyone excited for September.

Exclusive to club members, the first event is a mouthwatering paella night, scheduled for Friday, June 2, at the group’s clubhouse on Calle San Juan, 42. The event will kick off at 6.30pm members can indulge in some delicious paella paired with a refreshing glass of wine, all for €10.

The excitement continues at 7pm on Wednesday, June 14, with a thrilling

Samaritans in Spain

ready to listen, without judgement or prejudice.

It is important that people understand that they do not need to be feeling suicidal in order to call, their trained listeners are there to provide confidential support to anyone who is feeling in distress or despair.

Samaritans in Spain are available on freephone 900 525 100 between 10.00am and 10.00pm, 365 days a year.

Closing

As a self ­ funded charity run entirely by volunteers, they rely on donations and support from businesses as well as the general public.

It costs an average of €16 per each call taken, or to put it another way, to hear the words “I am feeling better about things now.”

Further information about Samaritans in Spain is available at www.samaritansin spain.com.

Together we are stronger.

the season

vited to form teams of four and test their general knowledge while enjoying some social fun.

Tickets cost €3 for members and €5 for non­members and must be purchased in advance from the club. However, teams can be formed on the night. Prizes and a full bar will also be available.

quiz night hosted by Vic Taylor, also at the clubhouse. The questions, curated by Nick Miller, promise to challenge even the sharpest minds. Guests are in­

After a well­deserved summer break, the Nerja International Club will make a return on Tuesday, September 5, with a tantalising Tapas Tour.

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Photo credit: Club Internacional de Nerja The club enjoyed a guided tour of Velez-Malaga recently.

Ballot bonanza

FIGURES from the nationwide local elections held on Sunday, May 28 have revealed an increase in voter turnout in Axarquia since the last elections held in 2019. According to latest figures, the region saw an average turnout of 47 per cent.

Surf’s up

THE Diputacion de Malaga is making waves again with the second edition of their thrilling ‘From North to Surf’ initiative. Offering 23 free courses in surfing, windsurfing, and paddleboarding, this coastal adventure boasts 204 spots for sports enthusiasts. Sign up online.

Paws & applause

SAVE the date because the Axarquia Animal Rescue charity ( AAR ) has announced a date for their popular annual dog show. This year’s event is set to take place on Sunday, October 29 at Puerta Niza in Benajarafe. Details to follow.

Statue spectacle

AUTHORITIES have unveiled a statue in VelezMalaga dedicated to the town’s cultural gem, Maria Zambrano. The statue faithfully captures the philosopher’s actual height and is accompanied by her loyal cat companion as well as a plaque featuring a quote by Zambrano.

Donation drive

HEALTH providers in Competa are holding a blood donation drive on Friday, June 9 from 5pm until 9pm in the town’s Fabrica de las Bragas. Anyone able to donate blood is invited to come forward.

Road safety

NERJA’S mobile roadworthy vehicle inspection (ITV) service for mopeds returns to the town on Wednesday, June 14 and Thursday, June 15. Motorists can book an appointment at www.itvci ta.com or call 959 999 999

Rock-solid success

RINCON DE LA VICTORIA’S iconic cave, La Cueva del Victoria has witnessed an astonishing surge in visitors during the first five months of 2023, matching the total number of visits recorded throughout the entirety of 2022.

The staggering figures released on Tuesday, May 30 show that 825 visitors have explored the depths of the cave since January of this year, nearly equalling last year’s count of 1,254 visits when it initially opened its doors to the public.

National visitors make up nearly 82 per cent of the total, while another 8 per cent were

international tourists. Among domestic tourists, 47 per cent came outside of Malaga Province, with an impressive 33.7 per cent from Madrid.

Thrilled with the overwhelming response, Francisco Salado, the mayor, shared his satisfaction, stating, “These figures not only reflect the growing fascination with this prehistoric gem in our town, but also reveals the success of our promotional campaigns.”

The surge in visitor numbers is an excellent step as the council moves to have the cave recognised within Europe due to its unique cave art.

Shooting stars Karate clash

RINCON DE LA VICTORIA is preparing to host its second edition of the town’s Karate Championship.

Organised by the Chikara Rincón de la Victoria School, the Karate Axarquia Association, and the Rincon de la Victoria Sports Department, this thrilling tournament will bring together over 300 participants from Rincon de la Victoria and nearby towns. On Sunday, June 11, the Rubén Ruzafa sports centre in Torre de Benagalbon will be transformed into a hub of martial arts action. Competitors of all ages, from five to 50 years old, will showcase their skills in 30 different categories. The top three contenders in each category will have the chance to claim the prestigious Chikara Trophy.

The event will not only be a showcase of local talent but will also feature special guest clubs from Alcala la Real and Alcaudete. Karate enthusiasts are invited to witness the dedication and passion of these skilled athletes at the event which will start at 10am.

IN a thrilling showdown on Thursday, May 25, the Almuñecar Youth Basketball Club (CB Almuñecar) secured the coveted provincial championship title, outshining their rivals, Maristas Granada, with an impressive score of 66­37.

Guided by talented youth coach, Zandu Pérez, the team faced the challenge of defending their significant 17­point lead from the previous encounter. Despite a competitive first half, the team’s confidence did not waver.

Sealing the deal

ALMUÑECAR and La Herradura proudly received the prestigious ‘Family Tourism’ Seal of Approval from the Spanish Federation of Large Families (FEFN) on Tuesday, May 30.

This recognition applauds destinations and businesses that prioritise the needs of families. Backed by the Spanish government’s Ministry of Industry, Trade, and Tourism, this accolade strengthens Almuñecar and La Herradura’s position within the crucial family tourism sector.

The award ceremony took place on Tuesday at the magnificent Palacete de La Najarra. Deputy mayor Daniel Barbero, in charge of Tourism and Beaches, joined Felipe Puertas, the director of Tourism, and Blanca Civantos, director

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STORIES IN THIS WEEK’S EDITION

Showcase

of the Andalucian Federation of Large Families, to celebrate the accomplishment.

Local mayor Juan José Ruiz Joya expressed his delight, highlighting the towns’ dedication to welcoming families. This achievement brings numerous benefits, including access to a vast market of more than 49,000 families associated with the Spanish Federation of Large Families.

Almuñecar and La Herradura now join an exclusive group of 25 distinguished destinations nationwide, with only six in Andalucia and none in Granada. This recognition recognises the Tourism Department’s commitment to providing exceptional experiences.

A standout performance by Andrés García Guerrero in the third quarter turned the tide in Almunecar’s favour, as he scored a stunning 31 points. Francisco Javier Parra García and Diego López Álvarez also made valuable contributions, scoring 10 and eight points respectively.

Parents, family members and friends all turned out in force to support the youth team, which no doubt helped them to secure victory.

Following the match, a representative of the Andalucian Basketball Federation (FAB), Germán Morales presented the trophy to CB Almuñecar in an awards ceremony.

LA CALA DEL MORAL’S Plaza Gloria Fuerte is set to come alive with rhythmic beats and passionate movement during an ‘Intergenerational Flamenco Dance Event’ on Saturday, June 17 from 9pm. Various dance groups, spanning different age ranges,will take the stage during the evening which will feature a total of four captivating performances. Among them, the Azalea Women’s Association will showcase their talented children performers, between the ages of three to 12, while the ‘Flamenquitas’ group from the Amuaxa Women’s Association, featuring ladies aged 50 and above, will demonstrate their dancing skills. The dancing will be accompanied by an acclaimed flamenco ensemble led by the talented Raquel Ariza. The event, organised by the council along with dance groups, aims to bridge generational gaps.

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YOUR EWN HAS
Photo credit: Ayuntamiento de Rincón de La Victoria LA CUEVA: Visitor numbers to the cave have peaked.
NIBS EXTRA

Today’s

SUPPOSEDLY some passengers travelling First Class on certain British Airways flights were worried about a redesign which meant some lavatories have windows. A woman travelling to New York complained that there were no blinds. She was told by a quick thinking stewardess

“Madam if some pervert is clinging to the side of this aircraft at 35,000 feet, they deserve to see everything!”

5,000 the world’s oldest wooden wheel is this old.

Cycling fever

Betty Henderson ALMUÑECAR is preparing for an exhilarating spectacle as the Andalucian Women’s Cycling Tour, ‘Ruta del Sol Women’ passes through the town today Thursday, June 1. However, with this much­anticipated event comes inevitable traffic adjustments, which local authorities have explained.

As the race passes through Almuñecar between 1.30pm and 1.45pm, several roads will be temporarily closed at certain locations. The closures are estimated to last for roughly 50 minutes from 1pm to 1.50pm, depending on the race timings and the event organisers’ schedule, according to the Local Police chief.

Motorists can expect diversions at key spots including Torrecuevas, Barrio San Sebastián, Carretera Suspiro del

Surging Unlocking potential

ARCHITECT Joaquín López Baldan unveiled plans for Nerja’s brandnew Giner de los Ríos Cultural Centre on Thursday, May 25. The plans, which have a budget of €10,097,823, await the final approval from the council’s technical and legal departments.

The plans outline the key features of this impressive cultural hub, which will replace the current cultural centre on Calle Diputación. Spanning an impressive 4,125 square metres across three floors and a basement, the centre will also feature a central courtyard, adding a touch of charm to the design.

Moro, Rotonda de Santa Cruz, Rotonda Carrera de la Concepción, Avenida Costa del Sol and the traffic lights junction at the Guardia Civil Headquarters, en route to La Herradura via the Carretera Nacional 340.

Residents and drivers are kindly requested to cooperate, follow the designated signage, and consider alternative routes if possible.

Organisers expect a large turnout of spectators, so drivers are asked to be patient while the race passes. The police said they hope all enjoy the sporting event.

Residents can look forward to a range of public services within the cultural centre. The Municipal School of Music and Dance will provide aspiring artists with a platform to nurture their talents while the centre will also house three rehearsal rooms for the Nerja Music Band and other musical groups.

Art enthusiasts will have access to a dedicated exhibition hall, while families can enjoy a play area for children. Furthermore, the centre will offer spaces for associations and clubs, and serve as the headquarters for the Women’s Information Centre.

The final approval is expected in due course.

Bags of support

IN a heartwarming effort to support local families in need, Food Drive Torre del Mar launched an appeal for assistance with their June food bags on Friday, May 26.

These essential food packages provide a lifeline for families within the local community, ensuring they have access to vital supplies during challenging times.

Meaning no-one is truly capable of living alone. We need human connection to be healthy. This orginated from a sermon by the 17th century English author John Donne.

Every contribution, no matter how big or small, will make a tangible difference in the

lives of those struggling.

Generous supporters are invited to drop off any supplies at two locations in Torre del Mar: the café in Vals Sports Centre or Lux Mundi Ecumenical Centre on Wednesdays or Fridays between 10am and 1pm.

The list of urgently needed items includes sunflower oil, sugar, pasta, rice, coffee, tomato frito, dried lentils, dried chickpeas, milk, tuna, chocolate milk powder, biscuits, breakfast cereal, and flour.

For those who prefer to support financially, donations can be made by visiting the reception at Lux Mundi. Alternatively, you can donate via Bizum by selecting ‘donation for ONG’, entering the code 07388, and adding the concept ‘Food donations’. Bank transfers are also accepted, further details are available via WhatsApp: 676 359 486.

AXARQUIA has outshined the rest of the Costa del Sol with a staggering hotel occupancy rate that breaks previous records. As summer approaches, tourists have been flocking to the region, eager to bask in its beauty and soak up the sun.

According to a report released by the Costa del Sol Hoteliers Association ( AEHCOS ), Axarquia tourist accommodation sites boasted an occupancy rate of more than 91 per cent during the month of May.

May’s statistics also reveal an impressive 8.2 per cent increase in hotel occupancy rates compared to the same period last year, signifying a resolute recovery in the tourism sector.

The surge in May’s hotel occupancy is thanks to several factors. The long weekend at the beginning of the month provided an excellent start, while temperate weather throughout the month and the return of international tourists also contributed to this remarkable feat.

According to AECHOS’ forecast, June is expected to see continued success with a projected hotel occupancy rate of more than 85 per cent in the Nerja, surpassing the regional average. The rest of the region is also set to enjoy an occupancy rate of around 75 per cent.

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One of the biggest races on the cycling calendar. Photo credit: Igualdad Diputación Granada
chuckle
PROVERB OF THE WEEK
“No man is an island.”

EXCLUSIVE: True Brothers in Arms

HISTORY shows that Brothers in Bands are often initially a recipe for success and then can quickly become a saga of fights and falling out.

The Everly Brothers, the Gallaghers in Oasis, the Knopflers in Dire Straits and many more bear witness to this reality.

There is one band however that completely bucks the trend and although not everyone will have heard of them, The Jets have been playing together since 1978 and are constantly in demand.

There are three brothers, Bob, Ray and Tony Cotton and whilst their music is most easily explained as Rockabilly, oldest brother Bob doesn’t quite agree.

Speaking exclusively to Euro Weekly News following two triumphant gigs in Benidorm, Bob said “We understand that everyone likes to buttonhole music, but we are really more than Rockabilly as we play a blend of 1950s Rock and Roll.

“Funnily enough we are coming back to Spain for the Psychobilly Meeting which takes place in Pineda de Mar (Barcelona) between July 4 and 11 as one of the headline bands.”

Bob said “We really enjoying playing in

Spain and normally visit two or three times a year with our next visit to the Costa del Sol in the autumn in Torremolinos where we find a very mixed audience of British, Spanish and other Europeans who love their music.

Back in 1974, Bob and Ray were members of the Boy’s Brigade in their hometown of

Northampton and they decided to form a band with two friends to entertain at one of that organisation’s concerts.

Bob explained that “I got hold of a KTEL album of rock and roll’s greatest hits and had seen Showaddywaddy on Top of the Pops so that was us, we learnt all of the numbers and

seemed to go down pretty well.”

They kept going and youngest brother Tony who started off with them before he was in double figures was too young to play officially but was there with tambourine and percussion in the background until he became old enough to join the band full time.

So, The Jets released the first of 16 albums in 1978 and had a couple of hit singles in the 1980s with Yes tonight Josephine and Love makes the world go round which saw them playing in a host of TV programmes like Tiswas and Crackerjack and they have just kept going.

To show how close the brothers are, two of them suffer from an inherited kidney complaint so Bob donated one of his kidneys to brother Roy and then happily Tony was able to obtain a transplant from a general donor.

During lockdown, they recorded two albums at home and according to singer and double bass player Bob, “it was quite an experience as we are so used to recording together in the studio that for myself, Ray on guitar and drummer Tony it was quite a challenge to adapt to doing everything at out home studios independently but it worked!”

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CELEB INTERVIEW
Visit https://www.thejets.co.uk/ to find out more about The Jets, the brothers that play together and stay together. Credit: The Jets UK Facebook
Rocking with The Jets.

UICC urges action

THE Union for International Cancer Control (UICC) called for greater action for World No Tobacco Day on Wednesday, 31 May, to prevent over 2.5 million cancer ­ related deaths due to tobacco.

This was announced on Tuesday, May 30, in a statement released from its headquarters in Geneva, Switzerland.

UICC is the leading global organisation committed to reducing the burden of cancer around the world. It works with WHO and civil society organisations at the international level and has developed a range of resources to support its 1,200+ members across 172 countries and territories in advocating for stronger tobacco control policies nationally.

According to Prof Jeff Dunn, AO, the President of UICC: “While there is still much to do and we must remain vigilant, Australia is a prime example of what can be achieved if effective regu­

lation is passed on taxation, advertising, packing, points of sale, raising awareness and protecting people from the effects of tobacco.”

UICC has also featured tobacco control on social media, in numerous articles published on its website and most recently in its podcast series, Let’s Talk Cancer, entitled ‘Tobacco and alcoholmanipulative marketing and how to counter it’.

This podcast and many of UICC’s articles highlight the insidious commercial inter­

ests that lie behind the sale and promotion of cigarettes. Tobacco companies prioritise profits over public health, employing aggressive marketing strategies that target vulnerable populations, including young people and low­income communities.

In its statement, UICC emphasised the urgent need for governments, civil society and international organisations to join forces and see more countries implement proven anti­tobacco measures.

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NO TOBACCO DAY: There is still much to do. Credit: Nopphon_1987/Shutterstock.com

General election for July 23

WITH Spanish regional and municipal elections, May 28, strongly favouring the opposition parties, President Sanchez has called an early general election as the left­wing coalition prepare to fight for their position.

A news source posted a video of Sanchez on Twitter saying: “Breaking news: Sanchez brings forward the general elections to July 23 after the PSOE’s debacle in the municipal and regional elections.”

Sanchez believes the time is due to let the Spaniards have their say, as he himself was not elected by the Spanish people. He had in fact come from a more administrative role in the Spanish Socialist Workers’ Party (PSOE) where he had been Secretary­General.

He only became leader to try and fight the threat of the left ­ wing opposition Podemos party, with whom he is now in the coalition.

He replaced Mariano Rajoy when he was ousted via

a vote of no confidence in 2018. Rajoy subsequently stepped down as leader of the conservative People’s Party (PP) but the PP have become resurgent in last weekend’s local elections. Sanchez had the option to wait until December to call a general election.

It would appear though, with an apparent lack of faith in the current government, the time is ripe to put the decision of national governance back to the Spanish people. July 23, could see a wholesale change of direction in Spanish politics.

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July 23 could see a complete change in Spanish politics. Photo credit: Pedro Sanchez/Twitter

PRESS EUROPEAN

DENMARK

Own choice

DENMARK is lowering the age of abortion without parental consent from 18 to 15, Gender Equality minister Marie Bjerre announced on the 50th anniversary of the law granting women the right to terminate a pregnancy. “We want young people to choose whether or not to involve their parents,” she said.

THE NETHERLANDS

Too darn hot

A GROUP of people with Dutch citizenship living on the Caribbean island of Bonaire, part of the Kingdom of the Netherlands, have asked the government to protect the island from global warming. Failing to do so would result in a court case along with Greenpeace, the islanders said.

BELGIUM

Riot act

LEFT-WING political parties and unions in Belgium are opposing a proposed law banning ‘rioters’ from protests. The new legislation could be misused to curtail the freedom to participate in protests and strikes, they said, voicing doubts shared by the High Court and the Federal Institute of Human Rights.

GERMANY

Climate crims

GERMAN police swooped on the homes of climate activists from the Last Generation environmental group in Hesse, Hamburg, Saxony-Anhalt, Saxony, Bavaria, Berlin, and Schleswig-Holstein. They are charged with having organised a campaign to raise funds that would have been used to finance ‘criminal actions’.

FRANCE

Fizzled out

BORDER police in Le Havre destroyed 35,000 bottles of a bright orange soft drink called Couronne Fruit Champagne originating in Haiti but destined for consumption in France. Only sparkling wine products from the French Champagne region can use the word, according to a ruling accepted by 121 countries.

NORWAY

Spy whale

NORWAY’S Fisheries Directorate asked the public to protect a friendly beluga whale living in the inner Oslofjord from accidents or injury by limiting contact with him. Hvaldimir became famous in 2019 when he appeared wearing a camera harness, suggesting that he was trained by the Russian military.

FINLAND

Overpowered

FINLAND produced so much clean electricity on May 24 that the price was “slightly below zero,” energy provider Fingrid announced. The price drop was triggered by an abundance of renewable energy thanks to a new nuclear reactor while spring floods pushed up production at hydroelectric plants.

IRELAND

Meta cutback

META, parent company of Facebook, Instagram and WhatsApp, announced that jobs are to be cut at its Irish headquarters. Inside sources revealed that the reductions, thought to number approximately 490, would affect several teams including finance, sales, marketing, analytics, operations, and engineering.

ITALY

Bear appeal

MAURIZIO FUGATTI, governor of Trentino, is awaiting a court decision on his latest attempt to put down the bear believed to have fatally attacked and killed Andrea Papi. The 26-yearold runner’s parents oppose Fugatti’s reprisal, arguing that killing the young bear “will not give us back our son.”

PORTUGAL Law row

PORTUGAL’S president Marcelo Rebelo de Sousa signed a euthanasia and assisted suicide bill last week. The law is not yet in force and opposition from the medical and political establishments, including the president himself who is a practising Catholic, could make it difficult to put into practice.

UKRAINE

Future plans

EUROPEAN companies are already earmarking locations and planning projects in Ukraine for reconstruction worth hundreds of billions of dollars. Most projects focus on restoring infrastructure damaged or destroyed since the Russian invasion, but also anticipate a wave of investment once fighting ends.

SWEDEN

Fewer homes

SWEDEN is experiencing its worst construction crisis since the 1990s, affecting young adults hoping to get a foot on the property ladder. Sweden’s Housing minister, Andreas Carlson, blamed the worsening conditions on external factors that were related to rising interest rates, inflation and increased energy prices.

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FINANCE

STAT OF WEEK €128 billion

- 7 June 2023 is combined worth of the portfolio of current projects that belongs to Spain’s multinational infrastructure and construction companies ACS, Ferrovial, Acciona, Sacyr, OHLA, FCC, and Grupo San José.

BUSINESS EXTRA Green hydrogen

Front runners

JD SPORTS expect profits of £1 billion (€1.15 billion) this year as it expands into the US and Europe, foreseeing a continuing trend for trainers and sports leisurewear. Re gis Schultz, chief executive, said that JD’s young shoppers had more work opportunities, enabling them to “buy the gear they love.”

Cigarette break

SMOKING has been banned in all Spanish workplaces since 2011, but a study by the Jobatus employment agency found that each employee who smokes spends an average of 16 minutes a day smoking outside. This costs companies a yearly total of €26 billion, the agency calculated.

Damage done

FORMER CBI president and outgoing Tesco chairman John Allan will also step down as chair of housebuilder Barratt Developments on June 30. The latter company announced that Allan was resigning to prevent allegations of ‘inappropriate behaviour’ against him from becoming ‘disruptive’ to the company.

Opposing views

SPAIN has 140,000 unfilled jobs, the highest proportion in its history, and eight out of 10 companies cannot cover vacancies, according to professional services company KPMG. Meanwhile, the unions claim that with a 13 per cent unemployment rate, three million people were unable to find work.

Oil recoil

REPRESENTATIVES from Trinity and Jesus colleges in Cambridge and the Universities of Newcastle, Sussex and Bristol have written an open letter to the asset management industry. All are calling for ‘bold action’ on their part to rebel against the boards of fossil fuel companies and their backers.

EU red tape on wine will unlock £180 million (€206.9 million) and give the UK’s wine industry the freedom to flourish.

SCRAPPING

Cheers for British wine

“The UK has over 800 thriving vineyards at home with hundreds of millions of pounds worth of wine trade that goes through UK ports every year,” said Food and Drink Secretary Therese Coffey.

“But for too long our producers have been held back by cumbersome inherited EU regulations. We can now give them the freedom that they need to thrive.

“These reforms will put a rocket under our wine makers’ businesses, growing the

economy, creating jobs and supporting a vital part of our food and drink sector,” Coffey declared.

Thanks to the proposed changes to retained EU laws on the production and marketing of wine, makers will now be free to select from a wider range of vines, includ­

IGNACIO GONZÁLEZ steps down as the Nueva Pescanova Group’s chief executive on June 16, seven and a half years after joining the company.

A statement from the frozen fish group, a household name in Spain which is popularly referred to by its original name of Pescanova, announced that González’s reasons were “strictly personal” and had been reached “by mutual agreement.”

His resignation comes not long after the news last April that Nueva Pescanova’s largest shareholder, the Galician bank, Abanca, was selling 80 per cent of its holding to Canadian seafood company Cooke Inc. The transaction, which put an €800 million value on the company, has yet to be definitively formalised.

The outgoing chief executive’s role will be taken over by José María Be­

Loophole

SPAIN’S banking sector has found a way of reducing the amount of the temporary windfall tax it must pay the government since 2022.

Currently subject to a 4.8 per cent levy applied to income from net interest and net fees over €800 million, the banks insist they are complying with regulations introduced to help the government ease the cost of living crisis.

Banks also admit that they are making their own interpretations of what constitutes the tax base. As a result, the majority exclude income from their overseas branches and operations that are not related to the granting of credits.

ing more disease­ resistant varieties.

Domestic wine makers will also be free to show a variety and vintage of any wine without having to go through laborious, previously EU­mandated applications processes.

“Needless red tape stifles

innovation and growth. Now we have taken back control of our laws, we can ensure they work in the best interests of our businesses,” Business and Trade Secretary Kemi Badenoch said.

Meanwhile, Miles Beale, chief executive of the Wine and Spirit Trade Association welcomed the new measures, many of which it had already publicly proposed.

“By introducing greater flexibility, wine producers and importers won’t be forced to do anything differently but will be able to innovate,” he said.

Pescanova exit

process,” a Nueva Pescanova communique announced on May 23.

Gonzalaez, who is also president of AECOC, which represents 26,000 Spanish companies dedicated to manufacturing and distribution, has been Nueva Pescanova’s only chief executive since its creation in 2015 following the collapse of Pescanova.

CHEMICALS and sustainable technologies company Johnson Matthey signed a three­year supply agreement with Norway’s Hystar to increase green hydrogen production.

The London­based firm, most of whose income is earned from catalytic converters, is increasingly focused on new sustainable technologies, including green hydrogen. This zero­carbon fuel is produced using renewable wind and solar energy to split water into hydrogen and oxygen and Johnson Matthey will supply Hystar with membrane electrode assemblies (MEAs) to ramp up its green hydrogen production. The latest partnership follows a similar Johnson Matthey deal this year with Plug Power, a US company which is producing green hydrogen.

Co-op concern

NINETY­SIX per cent of the Cooperative Group’s 32,000 members voted at the last annual meeting to improve welfare for chickens reared for meat.

navent, who has been the group’s executive chairman since 2020 and chairman of its board of directors since 2019.

“His extensive experience in the company will allow him to continue with the

Strong M&S results

DENIM, dresses, office wear and more affordable food increased sales and profits at Marks and Spencer over the past year.

The retailer will restart dividend payments to shareholders after underlying pre ­ tax profits rose by 21.4 per cent to £475.7 million (€546.4 million) in the year ending on April 1, with sales increasing 9.6 per cent to £11.9 billion (€13.7 billion).

Chief executive Stuart Machin nevertheless warned of a challenging year ahead as costs continued to rise but stressed that, unlike many other retailers, the number of clothing and food items sold had risen at M&S, helping to increase the company’s market share.

The company had made changes to its ranges, Machin added, taking a hit on profit margins to hold down prices relative to rivals, while improving its clothing styles.

In 2021, the last year for which figures were available, Nueva Pescanova made a net profit of €7 million ­ its largest to date ­ with a turnover of €1.09 billion. In contrast, its principal shareholder Abanca’s 2022 accounts revealed losses of €60.5 million during the first nine months of the company’s financial year.

Increased hold

LONDON­BASED Amber Capital has increased its holding in Indra to 7.239 per cent, equivalent to 11 million shares.

This provides the investment fund, which is also a majority shareholder in Prisa (El Pais and Cinco Dias publisher), with the opportunity of sitting on the technology, transport and defence company’s board, which requires a minimum holding of 7.14 per cent.

There also happens to be a seat to spare on Indra’s board, following the resignation of former director Axel Arendt on May 18.

Arendt announced his own departure after that of Indra’s former chief executive, Ignacio Mataix, and his substitution by José Vicente de los Mozos.

A motion led by the Humane League UK campaign group asked the mutual to adopt the Better Chicken Commitment (BCC) standards already accepted by Waitrose, Marks and Spencer and Greggs, reporting on welfare improvements in a year’s time.

They were partly overruled by the company’s directors, who explained that they wanted to keep prices down, but warned that profits were likely to fall over the coming year.

Phasing out

THE European Commission (EC) called on Spain to phase out its energy support measures by late 2023.

Introduced in October 2022 to counteract high energy prices caused by the Ukraine war, these should be totally eliminated in 2024, Brussels said.

This would limit spending and make savings that could be used to reduce the public debt.

Should future energy price increases make further support measures necessary, these should be fiscally affordable and introduced to protect only the most vulnerable households and businesses, the EC said.

euroweeklynews.com • 1
BRITISH WINE: Camel vineyard in Bodmin (Cornwall). IGNACIO GONZÁLEZ: Nueva Pescanova’s CEO steps down next month. Photo credit: CC/Nilfanion Photo credit: Nueva Pescanova
12

DOW JONES

3M 97,05 97,21 3,12M American Express 151,08 151,50 149,37 3,23M Amgen 217,46 220,10 214,93 2,87M Apple 172,99 173,90 171,69 55,71M Boeing 200,87 201,75 196,60 3,80M Caterpillar 209,98 211,79 208,60 2,20M Chevron 154,56 155,63 153,50 6,91M Cisco 49,03 49,23 47,72 21,71M Coca-Cola 60,41 60,73 60,15 14,32M Dow 50,37 51,12 49,97 4,23M Goldman Sachs 323,88 325,18 318,80 1,62M Home Depot 286,75 291,79 286,06 5,17M Honeywell 192,27 192,55 189,99 2,30M IBM 126,76 127,23 125,01 4,10M Intel 27,40 28,29 26,85 76,93M J&J 154,41 156,29 153,72 6,58M JPMorgan 135,67 136,27 134,58 8,06M McDonald’s 285,52 286,91 284,71 2,69M Merck&Co 112,30 113,50 111,09 6,72M Microsoft 325,92 326,90 320,00 41,85M Nike 107,48 108,97 107,42 6,70M Procter&Gamble 145,39 146,21 144,35 5,91M Salesforce Inc 209,91 212,33 208,44 5,94M The Travelers 173,67 174,99 172,81 1,10M UnitedHealth 477,70 481,77 474,30 2,52M Verizon 34,82 35,56 34,74 31,81M Visa A 223,38 224,69 220,49 6,82M Walgreens Boots 29,97 30,45 29,75 8,82M Walmart 146,16 147,44 145,09 6,98M Walt Disney 88,14 89,56 87,79 13,20M InterContinental 5.308,0 5.312,0 5.246,0 110,80K Intermediate Capital 1.347,00 1.349,00 1.323,50 727,26K Intertek 4.230,0 4.242,0 4.213,0 86,13K ITV 72,22 73,08 71,94 608,55K J Sainsbury 273,14 275,80 271,50 437,09K Johnson Matthey 1.800,0 1.810,0 1.786,0 108,07K Land Securities 610,80 618,40 610,40 215,99K Legal & General 226,10 229,20 224,70 4,46M Lloyds Banking 45,60 46,05 45,31 43,85M London Stock Exchange 8.400,0 8.416,0 8.336,3 12,71K Melrose Industries 477,70 479,80 472,80 580,63K Mondi 1.285,00 1.287,00 1.272,00 241,45K National Grid 1.096,00 1.097,50 1.080,50 974,09K NatWest Group 267,50 270,00 265,40 5,58M Next 6.370,0 6.444,0 6.352,0 23,94K Ocado 402,10 404,90 397,40 846,96K Persimmon 1.204,5 1.222,0 1.194,0 154,94K Phoenix 552,00 559,80 550,00 302,63K Prudential 1.106,00 1.113,50 1.095,00 533,18K Reckitt Benckiser 6.356,0 6.380,0 6.340,0 114,94K Relx 2.468,00 2.467,00 2.445,00 349,52K Rentokil 628,53 631,00 626,20 555,30K Rightmove 526,80 526,80 518,00 1,86M Rio Tinto PLC 4.940,5 4.962,5 4.899,5 598,91K Rolls-Royce Holdings 148,70 150,30 147,45 2,05M Sage 848,78 854,20 845,80 112,89K Samsung Electronics DRC 1.328,00 1.333,00 1.319,00 2,96K Schroders 452,5 455,4 448,6 102,67K Scottish Mortgage 656,89 662,40 653,40 618,47K Segro 787,20 787,80 780,20 213,84K Severn Trent 2.743,0 2.751,0 2.709,0 53,44K Shell 2.348,5 2.368,5 2.333,0 2,27M Smith & Nephew 1.212,50 1.219,50 1.206,00 252,68K Smiths Group 1.635,50 1.642,50 1.627,00 48,75K Spirax-Sarco Engineering 10.925,0 11.005,0 10.865,0 11,16K SSE 1.843,50 1.873,50 1.827,00 442,72K St. James’s Place 1.103,50 1.118,50 1.097,50 72,18K Standard Chartered 647,80 648,00 638,60 888,39K Taylor Wimpey 115,55 117,75 115,05 3,00M Tesco 263,10 265,80 260,90 588,59K Tui 524,20 533,40 518,60 377,07K Unilever 4.150,0 4.173,5 4.137,7 38,88K United Utilities 1.011,00 1.014,00 1.000,00 217,88K Vodafone Group PLC 78,83 80,40 78,44 26,54M Whitbread 3.259,0 3.289,0 3.244,0 105,21K WPP 866,80 870,60 863,20 183,30K Most Advanced NVIDIA Corporation +24.37% 154.026M Super Micro Computer, Inc. +23.41% 7.126M e.l.f. Beauty, Inc. +20.47% 4.05M Advantest Corporation +18.34% 22,368 Monolithic Power Systems, Inc. +17.46% 2.119M Nutanix, Inc. +16.80% 6.777M Vicor Corporation +15.95% 913,712 EnerSys +14.44% 691,565 Vertiv Holdings Co +13.98% 28.909M Taiwan Semiconductor Mnfctng Cmp Lmtd +12.00% 60.664M Advanced Micro Devices, Inc. +11.16% 107.429M Most Declined Snowflake Inc. -16.50% 23.95M AeroVironment, Inc. -15.51% 1.147M Icahn Enterprises L.P. -13.83% 17.778M Mirati Therapeutics, Inc. -12.41% 3.607M Dollar Tree, Inc. -12.03% 12.982M American Eagle Outfitters, Inc. -11.93% 18.985M Beijing Enterprises Water Group Limited -11.69% 44,400 UiPath Inc. -11.20% 35.401M Illumina, Inc. -8.99% 3.77M Kanzhun Limited -8.48% 7.032M MGM China Holdings Limited -8.22% 34,575 C C OMPANY OMPANY P P RICE RICE((P P)) C C HANGE((P P)) % C % C HG N N ET ET V V OL
C LOSING P RICES 29 M AY 3I Group 1.925,50 1.927,50 1.907,00 56,05K Abrdn 198,45 202,00 197,65 538,71K Admiral Group 2.309,0 2.323,0 2.290,0 101,82K Anglo American 2.323,0 2.352,0 2.309,0 708,72K Antofagasta 1.388,50 1.400,50 1.377,50 132,74K Ashtead Group 4.867,0 4.867,0 4.791,0 88,30K Associated British Foods 1.846,0 1.846,5 1.827,0 88,94K AstraZeneca 11.686,0 11.790,0 11.636,0 134,79K Auto Trader Group Plc 620,60 621,20 611,20 376,71K Aviva 399,58 403,50 395,20 2,77M B&M European Value Retail SA458,60 462,50 455,10 733,51K BAE Systems 939,20 953,40 939,20 967,16K Barclays 155,92 157,90 154,30 5,57M Barratt Developments 471,40 477,50 467,70 2,29M Berkeley 3.969,0 4.013,0 3.949,0 54,29K BHP Group Ltd 2.289,00 2.294,50 2.258,50 487,65K BP 476,95 478,95 472,75 5,81M British American Tobacco 2.661,0 2.681,5 2.641,5 49,38K British Land Company 350,00 353,50 348,00 499,88K BT Group 144,55 145,50 143,70 2,33M Bunzl 3.174,0 3.173,0 3.132,0 87,43K Burberry Group 2.192,0 2.210,0 2.177,0 96,96K Carnival 783,8 793,6 781,6 74,22K Centrica 118,00 118,38 115,40 862,13K Coca Cola HBC AG 2.425,0 2.428,0 2.390,0 92,03K Compass 2.208,00 2.211,00 2.197,44 56,52K CRH 3.905,0 3.937,0 3.860,0 253,40K Croda Intl 6.160,9 6.222,0 6.148,0 58,21K DCC 4.673,0 4.719,0 4.641,0 20,72K Diageo 3.480,0 3.499,5 3.466,0 59,31K DS Smith 312,65 313,72 310,70 120,86K EasyJet 483,90 489,20 480,20 491,24K Experian 2.794,0 2.798,0 2.767,0 145,63K Ferguson 11.690,0 11.735,0 11.620,0 17,83K Flutter Entertainment 15.895,0 16.165,0 15.665,0 23,98K Fresnillo 659,90 663,80 655,00 104,60K Glencore 426,70 431,40 423,80 7,34M GSK plc 1.384,60 1.389,80 1.380,40 852,08K Halma 2.386,0 2.388,0 2.364,0 71,26K Hargreaves Lansdown 798,20 800,20 787,40 113,41K Hikma Pharma 1.839,00 1.847,50 1.830,00 4,65K HSBC 606,30 613,00 600,40 1,91M IAG 156,20 158,45 154,75 3,45M Imperial Brands 1.723,00 1.738,68 1.714,00 109,91K Informa 700,00 706,00 695,20 150,79K C C OMPANY OMPANY P P RICE RICE((P P)) C C HANGE HANGE((P P)) % C % C HG HG . N N ET ET V V OL OL COMPANY CHANGE NET / % VOLUME US dollar (USD) ........................................1.0746 Japan yen (JPY) 150.20 Switzerland franc (CHF) 0.9700 Denmark kroner (DKK) 7.4480 Norway kroner (NOK) 11.814 MAKE THE MOST OF YOUR MONEY WITH US See our advert on previous page 0.86795 1.15161 LONDON - FTSE 100 C LOSING P RICES 29 M AY Units per € COMPANY PRICE CHANGE OLUME(M) NASDAQ C LOSING P RICES 29 M AY M - MILLION DOLLARS THE ABOVE TABLE USES THE CURRENT INTERBANK EXCHANGE RATES, WHICH AREN’T REPRESENTATIVE OF THE RATE WE OFFER currenciesdirect.com/marbella • Tel: +34 952 906 581 EWN 1 - 7 June 2023 euroweeklynews.com FINANCE 14

Flight fight

SPANISH airlines will not follow France’s lead in banning domestic flights for journeys that can be completed in two and a half hours by train. Javier Gándara, president of the Spanish Airlines Association dismissed it as “more theatrical than effective” while Willie Walsh, director general of International Air Transport Association (IATA), described it as “completely absurd” and “useless.”

On the spot

STATE­OWNED Ineco intends to open a permanent office in California as plans are reactivated to build the first high­speed railway line between San Francisco and Los Angeles. The Spanish engineering company will now seek short­ and mediumterm opportunities to participate in the $400 billion (€93 billion) project.

Tata plum for Bridgwater

INDIAN carmaker Tata has reportedly chosen the UK and not Spain for a multi­billionpound electric car battery plant.

According to the BBC, the owner of Jaguar­Land Rover intends to build its new factory in Bridgwater (Somerset) near to the M5 motorway.

Tata’s chairman Natarajan Chandrasekaran is due to fly to London within days where he will meet the UK prime minister Rishi Sunak. Although the

No time to relax

THE days of fiscal relaxation are numbered.

The European Commission (EC) announced that it will no longer turn a blind eye to countries that exceed their debt limit stipulated by EU regulations­

In recommendations to members states issued by Brussels on Thursday May 25 Spain ­ along with 13 other EU countries ­ will be placed under fiscal

surveillance in spring 2024 owing to its excessive debt.

According to Brussels’ forecasts, Spain’s debt will rise to €50 billion, 4.1 per cent of its gross domestic product (PIB) by the end of this year, although the Spanish government places it at 3.9 per cent.

Whichever figure is accepted, this is still above the EU’s 3 per cent threshold.

deal has yet to be signed, proceedings have progressed from negotiations to drafts and outlining how the project is to be presented, sources close to the initiative have said.

The plant will be the most significant investment in UK car manufacturing since Nissan came to Britain in the 1980s, industry insiders said, and will create up to 9,000 new jobs.

Money was not mentioned, and while the government has not confirmed subsidies of around £500 million (€576.8 million), “hundreds of millions of pounds” will be involved, the BBC said.

Tata has important UK steel interests which include its Port Talbot plant in South Wales and the government will offer approximately £300 million (€346.1 million) to subsidise, upgrade, and decarbonise operations there.

The two investments will not be announced simultaneously but are linked, government sources confirmed.

VAT gaffe

BURBERRY’S chief executive Jonathan Akeroyd said the UK was at a “competitive disadvantage for global shoppers” after scrapping the VAT tax break for tourists. Sales to foreign visitors rose by 19 per cent in London during the first quarter of 2023, but increased by 300 per cent in Paris and 43 per cent in Milan, Akeroyd pointed out.

Going down

THE UK government’s holding in NatWest now stands at below 40 per cent after selling £1.26 billion (€1.45 million) of its stake. The government has set itself a 2026 target for reprivatising the bank, 18 years after the taxpayer paid £46 billion (€53 billion) to save NatWest Group, then known as Royal Bank of Scotland Group, from collapse.

BRIDGWATER: Practically confirmed as site of Tata’s new electric car battery factory Photo credit: visitbridgwater.co.uk
EWN 1 - 7 June 2023 15 FINANCE euroweeklynews.com
BUSINESS EXTRA

Euro EUR/GBP: Down from £0.88 to £0.87

EUR/USD: Down from $1.10 to $1.07

The euro weakened at the end of April after Eurozone GDP missed forecasts, before the start of May brought more headwinds for the single currency as markets responded to the European Central Bank’s (ECB) interest rate decision. The ECB slowed its pace of policy tightening and did not commit to further rate hikes, triggering an EUR selloff.

Hawkish comments from ECB officials cushioned the euro’s losses. ECB President Christine Lagarde insisted that ‘we’re not pausing’, while other rate setters advocated more tightening.

However, consistently weak German data raised fresh concerns about a recession in the Eurozone’s largest economy, keeping pressure on the common currency.

A strengthening US dollar also

BUSINESS EXTRA

Crashing down

VIRGIN ORBIT, billionaire Richard Branson’s satellite launch company, is shutting down and selling off assets worth $36 million ( €33.1 million ) Branson had little luck with the venture, which included the failed orbital mission in the UK that received funding of more than $20 million ( €18.5 million ) from British taxpayers.

US project

COSENTINO, the marble multinational based in Almeria, will build a production plant in the US. The company announced that it has signed an agreement with city hall in Jacksonville ( Florida ) to acquire land for the future factory which will require a total investment of approximately $270 million ( €250 million).

CURRENCY OUTLOOK: EURO WEAKENS AS MARKETS REIN IN RATE HIKE EXPECTATIONS, US DOLLAR REBOUNDS ON FRESH FED BETS

weighed on the euro due to EUR’s negative correlation with USD, although ongoing hawkish ECB rhetoric saved the single currency from steeper losses.

The ECB’s June policy decision is in the spotlight for EUR investors over the coming month. A 25bps hike is expected. But could a dovish outlook see the euro fall further?

Pound

GBP/EUR: Up from €1.13 to €1.14

GBP/USD: Down from $1.24 to $1.23

Sterling found success through late April and early May, despite a scarcity of impactful UK economic data. Market bets on another Bank of England (BoE) interest rate rise boosted the pound.

An upward revision to the UK’s final services PMI then lent GBP further support. Activity in the UK’s vital services sector hit a one-year high in April.

However, the middle of the month brought headwinds. Following the BoE interest rate decision, the

bank’s Governor Andrew Bailey said inflation is set to fall sharply from April, which saw markets pare back expectations for further tightening.

Mixed GDP data then saw Sterling waver. The UK economy expanded by 0.1% in the first quarter of this year, but unexpectedly contracted by 0.3% in March.

The pound still rose against its weaker peers, despite a shock rise in UK unemployment, as concerns about second-round inflation effects kept BoE bets alive and GBP afloat.

The BoE will meet towards the end of June to set interest rates. If persistently high core inflation prompts the bank to raise rates again, Sterling could soar.

US Dollar

USD/GBP: Unchanged at £0.80

USD/EUR: Up from €0.91 to €0.92

A pullback in Federal Reserve rate rise bets put the US dollar on the backfoot through the end of April.

Fresh turmoil in the US banking sector saw markets revise their expectations for further policy tightening,

Inflation-food seesaw

Linda Hall

UK inflation fell last month although the reduction was less than hoped for.

The Office for National Statistics (ONS) revealed that annual inflation as measured by the consumer prices index (CPI) dropped to 8.7 per cent in April, following March’s 10.1 per cent cutback. The rate peaked at 11.1 per cent last October.

Electricity and gas prices contributed approximately 1.4 percentage points to the fall according to the ONS.

This was partly counterbalanced by food prices which continued to rise at their fastest annual rate since 1977, with the increased cost of the weekly shop shooting up by 19 per cent in the year ending in April owing to soaring food and non-alcoholic drink prices.

Economists had predicted a larger drop to 8.2 per cent, while the Bank of England said earlier this month it had expected inflation to fall to 8.4 per cent in April.

These latest ONS statistics were announced as analysts warned that Prime Minister Rishi Sunak’s target of halving

the rate of inflation this year would be closer run than was originally envisaged.

The ONS announcement prompted financial markets to

forecast it was practically a given the Bank of England would increase the base interest rate by a quarter-point from4.5 per cent when they next meet in June.

while weaker-than-forecast GDP added to the downside.

USD faced further losses through the first week of May. Although the Fed raised rates by 25bps, it signalled a potential pause in its hiking cycle.

A souring market mood helped the safe-haven ‘greenback’ recover as the month went on, despite some disappointing US economic data.

Hawkish comments from Federal Reserve policymakers also helped USD continue to claw back its earlier losses.

Looking forward, the Fed’s rate decision in mid-June is the key event. If the bank leaves rates unchanged, USD could slump. Before then, investors will use the latest inflation and jobs data releases to gauge how the Fed might act.

Currencies Direct have helped over 430,000 customers save on their currency transfers since 1996. Just pop into your local Currencies Direct branch or give us a call to find out more about how you can save money on your currency transfers.

Ace year for Acerinox

THE Acerinox Group’s 2022 results were the best since its creation in 1970, announced chief executive Bernardo Velázquez. The Spanish stainless steel group’s €8.69 billion turnover was 30 per cent up on 2021 thanks to good demand, although net profits of €556 were 3 per cent down, owing to €204 million losses by Bahru Stainless in Malaysia.

Acerinox had an EBITDA (earnings before interest, tax, depreciation and amortisation) of €1.27 billion, Velázquez announced, despite the instability caused by the geopolitical situation with Russia’s invasion of Ukraine.

The company also had to contend with inflation - especially energy prices in Spain - supply chain problems and the collapse of nickel prices on the London Metal Exchange in March, he added.

Following an unsuccessful merger attempt with the Mittal family’s Aperam last year, the company continues to look for opportunities to continue growing especially in the US.

Damm good A toxic situation

BREWERY group Damm foresees a record turnover this year. Announcing sales of €1.87 billion for 2022 at the recent shareholders’ meeting, executive chairman Demetrio Carceller Arce revealed that the Barcelona-based company expected an even better 2023 despite inflation and its consequences for consumers and monetary policies.

Damm’s €101 million net profit last year was 10 per cent down on 2021 and the lowest since 2016, although Carceller pointed out that the company had increased its market share.

ROYAL MAIL’S woes do not abate. A vote by employees on a deal intended to end a rancorous dispute over pay, jobs and working conditions while securing the future for all involved was suspended owing to differences between the postal service and the Communication Workers Union (CWU).

The environment in which it was endeavouring to deliver the agreement remained ‘toxic’, the CWU said on May 24.

As a result, it suspended the timetable for a member vote until it is satisfied that what it described as “attacks” on members in the workplace had come to an end.

Royal Mail had agreed a new deal with the union in April following months of tense negotiations and a series of strikes which it blamed for losses of £1 billion (€1.15 million) and the departure of its chief executive Simon Thompson in mid-May.

EWN 1 - 7 June 2023 www.euroweeklynews.com FINANCE 16
Visit us at our Spanish offices in Costa del Sol, Costa Almeria, North Costa Blanca and South Costa Blanca. Telephone UK +44 (0) 207 847 9400 Spain +34 950 478 914 • Email euroweekly@currenciesdirect.com • www.currenciesdirect.com. STERLING:
Found success through late April and early May.
ASK THE EXPERT Peter Loveday Contact me at euroweekly@currenciesdirect.com
FOOD INFLATION: Families still spending more on food. Photo credit: Pexels/Julia M Cameron

LEAPY LEE SAYS IT

OTHERS THINK IT

WITH their, plastic bottles, food cartons and litter left laying everywhere in their wake, plus causing the output of untold thousands of vehicle exhausts as they idled in traffic jams, badly mislead young ‘climate changers’ are leaving a carbon footprint that will probably not be ‘offset’ until they reach their coming of age.

This present generation has to be the most spoiled, self­centered, misinformed bunch of easily led youngsters the civilised world has ever produced. They have air­conditioning in the classrooms, mobile phones and gismos, they ride in cars to school, they suck up junk food like hoovers and insist on the latest trendy outfits at all times.

All of these luxury products, which they seem to think are their God given right, are manufactured or supplied by ginormous companies that pour billions of tons of carbon dioxide emission into the Earth’s atmosphere. These children’s selfish attitudes and life styles cause far more damage to our environment than the previous generations they are so

No respect

keen to accuse. Those preceding them were mobile and ‘designer’ free and took bicycles or walked to their destinations. Most had never experienced jet travel or air conditioning and opened windows when it was hot, instead of closing them.

They received new shoes or clothes only when the previous attire needed replacing, ate home ­ made sandwiches instead of Whoppers and read books. However, in these modern day youngsters’ defence, most have of course been brainwashed and mislead by the ‘usual suspects’!

Many of the culprits are those who laughingly profess to be ‘schoolteachers’. Stringy haired trendies, who actually started the rot when the first long haired leftie ‘free thinker’ plonked his behind on his desk and told the class to call him Jon! The same leftie brigade who welcome drag acts into the classrooms to ‘enlighten’ four­year­olds, abolish winning and losing and teach tiny tots to ‘touch’ and ‘feel’ themselves. Well this is the result.

WATER WOES OUR VIEW

A whole generation of young children who not only have no respect for their elders, but truly do believe they are actually superior. Unfortunately, ever increasing numbers of them would rather walk into the class with a knife than a ruler. What I did find interesting this week however was the reaction to something I shared on FB. I literally received hundreds of ‘likes’ to the following notice, publicly displayed on a notice board by a youngster of around seven or eight. It read. ‘I’m not old enough to drink, let alone choose my sexuality or gender. How about you let me enjoy being a child and leave me alone?’ Sounds good to me; perhaps there is still some semblance of true stability in their young lives yet?

You listening out there? All you woke infested imbeciles that should actually be locked up ­ and would be if I had any say in the matter. Keep the faith. Love Leapy. Leapylee2002@gmail.com expatradioscotland.com Mon and Fri. 1pm till 4.

AFTER the devastating rainfall which hit Almeria as well as parts of Costa Blanca and Murcia last week it seems that the weather simply isn’t being favourable to Spain at the moment. Certainly, there have been repeated fears of drought conditions across parts of the country which is threatening the livelihood of a very large number of farmers, yet torrential rains are also likely to devastate crops.

There is internal wrangling, some of it clearly political, about the allegedly illegal incursions on protected areas of wetlands where farmers are being allowed to drain water and to some extent, we must recognise commerce may on occasion be stronger than conservation.

The governments of Spain and Portugal are now jointly approaching Brussels asking for the adoption of measures to alleviate the effects of the drought on European agriculture and this of course means that they want more money and to be able to give more money to the agriculture section. Water however doesn’t grow on trees although it does help trees to grow and neither does money, although with €2.2 billion already allocated by the Spanish Government to drought relief it might appear that it does. If aquifers are being raided and there isn’t enough rain, it seems that one option is to build more desalination plants in order to provide water, hopefully potable, but if not, at least suitable for agricultural purposes. Another option is to ensure that sewage plants, many of which simply seem to exist to cause nasty smells around their vicinity are updated so that they can supply more water for agriculture and the ever thirsty golf courses that so many people enjoy.

EWN 1 - 7 June 2023 17 FEATURE euroweeklynews.com
Leapy Lee’s opinions are his own and are not necessarily representative of those of the publishers, advertisers or sponsors.

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Their home insurance includes Pet Assistance, IT Assistance, and Home Maintenance.

All motorbike policies come with Replacement Motorbike, Technical Equipment cover and even Young

Person’s Night-time Assistance. And their car insurance includes helpful services such as Legal Assistance that can provide help when applying for or renewing your driving licence in Spain.

EXPAT2EXPAT REWARD PROGRAMME

When an existing Línea Directa customer recommends a new customer, they both receive €30. Línea Directa’s Expat2Expat programme is free and open to all existing customers. You can recommend up to 10 people and earn up to €300 in cash per year. Simply ask your friend to call 917 002 006 and quote your full name. Then once their application for car, bike or home insurance has been approved, Línea Directa will pay the reward straight into the bank account following payment of next or first premium.

For more information, see terms and conditions at lineadirecta.com.

LOWER THE PRICE OF YOUR INSURANCE

Change to Línea Directa and they will lower the price of your insurance. Línea Directa has been providing comprehensive car, motorbike and home insurance to British expatriates and residents in Spain for over 25 years. With over three million customers nationwide, Línea Directa makes sure you get the best possible price for the kind of insurance you really need.

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WHY I LIKE CATS

the snow or blazing heat. They don’t require a licence of ownership or a tag, and a driver who hits a cat on the road and kills it is not required to report the fact.

ALTHOUGH cats are self ­ sufficient they are regarded as selfish and lacking in loyalty to their owners. This is probably because their pampering is restricted to being stroked and the occasional dish of milk or fish.

There are several reasons why I like cats. First, they don’t bark. When two cats meets another, they don’t cause a disturbance in the neighbourhood by howling greetings at each other.

When you walk past a house or a garden with a cat in it, your senses are not assaulted by an aggressive chorus of barking. And on ringing somebody’s doorbell you are unlikely to be greeted by a menacing yowling sound. A cat is quiet unless involved in a short­term squabble over territory ­ or if its tail is trodden upon.

Second, they are dignified animals. When one cat meets another, it doesn’t sniff the other’s private parts. When the door of a cat ­ owner is opened, the animal does not leap at your midriff, sniffing, snorting, slobbering, snarling and pawing at your legs. It remains asleep in a chair.

Third, cats are discreet about crapping ­ normally burying it, where circumstances allow. They don’t crap all over the streets, parks and beaches and are not allowed in bars and restaurants. They also take great pains to keep themselves clean and therefore they don’t stink.

Fourth, cats are independent. They find their own form of exercise and don’t require daily walks in the rain,

Fifth, and most important, cats never kill babies or children. Obviously, big cats are another matter, but we are concerned with the domesticated species. There is therefore no danger in the free movement of cats among us. Unless you are a mouse, a small rat or the occasional bird.

In fact, most of these attributes apply to cows, pigs, and pelicans. In very different ways, horses and pigeons fail on the street ­ crapping issue but are generally as harmless as cats. And they don’t bark.

In a similar way, I like people who don’t cackle loudly when they are drunk, interviewers who don’t interrupt their guests and footballers who don’t wrestle and pull shirts. I like the simple things that we should take for granted, like plenty of legroom in aircraft, fast ­ moving arrival checks at airports and guaranteed seating on trains.

And the civilised things in life like welcoming service in restaurants and bars, a gesture of thanks when opening a door for somebody, and letting a driver through from a side road. There are a lot of good things around us, but in the end it is all relative and certainly subjective.

For more from our columnists please scan this QR Code

EWN 1 - 7 June 2023 euroweeklynews.com FEATURE 18
David Worboys’s opinions are his own and are not necessarily representative of those of the publishers, advertisers or sponsors. DAVID WORBOYS THINKING ALOUD Cats and pigs have two things in common. They don´t bark and they don´t crap in the street Photo Credits: pulpbits.net and fanpop

Problem solved LETTERS

Hi all, I would like to thank you and your readers for your help re my travel insurance.

I contacted the people you suggested and I now have insurance.

The people in their office were very helpful, and the price was reasonable.

Once again I thank you all, I can now enjoy my holiday.

Thank you

Thank you for what you are writing.

I’m a Dutch guy currently residing in Spain. Reading your article on Propaganda in the Euro Weekly. It is a relief to find you and read what you are saying.

So, just saying: THANKS!! Stay strong.

Dear Leapy

With Love, Louis

I am an avid reader of your column every week but am surprised you have not mentioned the dangerous antics of the, fast becoming more popular, scooters on the roads, or pavements! Risking life and limb to themselves and other road users. However, there seems to be no action taken by the police! Would love to read your comments in one of your weekly comments.

Best regards, DMP, Albatera

Dear Editor

A simple question for Remainers

Do you want to be ruled by the unelected EU or our own elected Parliament?

I know Leapy’s answer!

Spain joined the EU and have prospered with approximately €800 billion in loans. Greece borrowed approx €2 trillion.

I wish I could get a big money interest free loan that never needs to be paid back or does it?

Well done

To Lee Graham

Fantastic, keep up the good work.

Regards

Are you watching?

will send an email, but I thought you probably get too many emails in your busy life. However, having just now read your article in EWN I thought I would email anyway. I am not racist and all the people in the programme were very nice. It’s just a matter of fair representation of course and it is annoying.

Best Wishes, Graham PS I remember you on the telly with Little Arrows

Hooked

In my nearly 40 years of residence here I have never had much interest in the English language media but I am becoming hooked on your comedy page featuring Lee. I use the surname as he refers to a knight of the realm as Starmer. His ultra right wing, and often racist, rantings are hilarious in their eccentricity, but as one of the few expat socialists on the coast I know that he is preaching to the converted.

Closer ties

The UK left the EU because the government didn’t want to accommodate the ‘humanising’ rules imposed by the EU and wasn’t prepared to relinquish any sovereignty. The vote was really close. The UK has to undertake a new referendum to see what the outcome might be. It could be a lot different. Also, wanting to re­apply will require that the UK follows the requirements of the EU, will less protest.

Stormy forecast

Biblical storms and hailstones have battered the area here hard with the aftermath of cleaning up yet to start, let’s hope every drop of water is not wasted, and will give us a head start in the coming months. Mark

Deportation

I was watching CH5 Rich House Poor House recently where they swap houses for a week. The Poor House ­ Single mum was black and the Rich House featured two gay men. This programme often includes minorities. I thought at the time, I wonder if Leapy is watching this. Perhaps I

This article sheds light on the heartbreaking situation faced by the Ahmadi Religion of Peace and Light at the TurkishBulgarian border.

It’s truly disheartening to see how they are being denied entry, facing violence, and the threat of deportation. Their religious beliefs should not be a reason for persecution. We must stand together to protect the rights of all individuals, regardless of their faith.

EWN 1 - 7 June 2023 19 HOROSCOPE/LETTERS euroweeklynews.com Letters should be emailed to yoursay@euroweeklynews.com or make your comments on our website: euroweeklynews.com Views expressed and opinions given are not necessarily those of the EWN publishers. No responsibility is accepted for accuracy of information, errors, omissions or statements.
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How to find a cat-sitter

FINDING suitable cat­sitters for when you go on holiday can be a challenge. You want your cats to be cared for where they are comfortable, their routines maintained. It means that when you get home after your absence, your pets are relaxed and happy to see you, just like you’ve both had a lovely holiday.

Finding a cat­sitter through Housesitmatch means you have someone to care for your pets at home that doesn’t cost you any more than the annual membership fee!

If you’re planning a trip register now to find petsitters in time. Whether your trip is short or long, you’ll know that sometimes you must leave pets at home. Young and senior pets in particular benefit from staying at home, so they can follow their routines undisturbed. Join our pet and house­sitting network, and the sitters come for free!

Choose Housesitmatch.com for affordable travel, home and pet care. These are the steps to take:

1. Register as a homeowner on HouseSit Match.com

2. Choose a Standard account (£69 per year) to ensure you can help online when needed

3. Create a profile with photos of your pet and the house

4. Post an advert for the dates when you

Doggy day-care

DOGGY day­care or pet play schools are becoming more popular around the world. Pet parents are opting to pay approximately €350, in Spain, to leave their pets at daycare rather than leave them home alone.

Keeping cats safe and happy at home while you are away.

want to go away. Sitters apply and you choose. How does it work?

HouseSitMatch can help you find suitable sitters. Join our network for a small annual fee. You get ID checked for safety and then build your advert saying when you are going on holiday. Housesitters see your advert, they respond and you choose the sitter who’ll care for your pets.

Trustpilot Testimonials ­ 4.9 / 5 Excellent 10 out of 10 for housesitmatch.com

I have had nothing but good and helpful service from the people who run this site, and my experience has been excellent. Tristram Cosgrave ­ Dog and cat owner, Malaga

How do you join?

Please register online via our website www.Housesitmatch.com.

Need a pet or house-sitter? Get in touch. House-sitting can be a win-win for both parties, free house and pet-sitting, and the experienced and checked sitters get free accommodation! Register as either house-sitter or homeowner with a 20% discount using coupon code 20EWN - Reader exclusive offer. To find a house or pet-sitter go to www.HousesitMatch.com.

OVER two­thirds of dog owners seek solace from their pets over anything else.

Research from The Kennel Club reveals that dog owners are turning to their four­legged friends first and foremost, to help with feelings of stress and sadness.

Following a turbulent few years, the research shows dogs have provided a vital source of

Furry friends

comfort to their owners, with more than two­thirds (69 per cent) claiming that stroking or cuddling a dog would be their first port of call when feeling stressed or down.

Not only that, three in five

(59 per cent) suggest they find more comfort in their dog than humans, while 67 per cent say their dog is their ‘best friend’. Nearly half (48 per cent) of owners aged over 55 agree that their dog makes them less stressed, while more than a third (37 per cent) of owners aged between 16­24 admit that their dog makes them feel less anxious.

“This research really shows how the relationships we have with our pets are amongst the most important when it comes to our mental health,” said Bill Lambert, spokesperson for The Kennel Club.

These centres say they offer a solution to loneliness which can sometimes cause behavioural problems and help dogs socialise with other dogs. Some of these centres provide an individualised training programme for your dog. Your furry friend will be fed and walked all while you are at work. They promise that when you pick up your dog you will find them relaxed and happy.

The day­care centres have a sleeping area and playrooms where the dogs are usually separated into groups selected by size, temperament, and age.

In Spain, people are adopting or purchasing more and more dogs with an increase of 38 per cent in the last three years. According to experts, there is a ‘greater sensitivity’ to their needs saying ‘People who have dogs focus a lot on giving them everything they need.’ With this combination, it is clear to see why these services are on the rise.

Doggy day care owners said they noticed that after the pandemic more people chose

These services are on the rise.

to leave their dogs with them. Dogs suffered from separation anxiety in the wake of the pandemic and this prompted pet parents to seek solutions to reduce their pet’s stress.

Better with pets

PURINA the pet nutrition company announced the winners of their Better With Pets Prize 2023. The objective of these awards is to fund impactful organisations that are ‘striving to change society in a positive way through the power of the pet­human bond.’

Two UK charities and one Spanish charity were chosen as the winners from more than 110 organisations across Europe.

The first prize went to Pets As Therapy, a national charity that enhances the health and well ­ being of thousands of people across

the UK by providing therapeutic pet visits to establishments such as care homes, hospitals, hospices, schools, and prisons. Pets As Therapy was awarded a two­year grant of €50,000 per annum.

The second prize went to the Spanish organisation Center de Teràpies Assistides amb Cans(CTAC).

CTAC is a charity that provides dog ­ assisted therapies and activities at care

homes, schools, prisons, and residences for people with disabilities and hospitals. They were awarded a two­year grant of €30,000 per annum.

And the third prize went to Street Vet, a team of professional vets and veterinary nurses that provide essential care to over 2,000 people and their pets across the UK. They were awarded a two­year grant of €20,000.

WINNERS: Three charities were awarded grants.

Photo credit: Wagwag guarderia website
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WINDOW

Walking Football winners and that elusive final

EWN Over 60s League

The Walking Dead 9 v 3 Torrox Tornadoes

The Walking Dead, confirmed EWN Over 60s Walking Football League Champions 2022/23, hosted this their final league game of the season against Torrox Tornadoes. From the first whistle, the home side began to exert their control and by half time were 4­1 up.

The second half continued in the same vein, with Torrox Tornadoes trying bravely to get back into the game and clawing back a couple of goals but Walking Dead scoring further to complete a 9 ­ 3 victory, which might have been greater if not for some heroics from the Torrox Tornadoes keeper.

The match was played throughout in the com ­

petitive but friendly spirit we have come to expect of our sport and, at the end, The Walking Dead WFC Over 60s were deservedly presented with their trophy and medals from the EWN.

Reportedly, celebration went on late into the night! Well done to The Walking Dead WFC Over 60s squad!

Costa del Sol Walking

New Chelsea manager

MAURICIO POCHETTINO has finally signed as the new head coach of Premier League side Chelsea.

The Argentine put pen to paper at Stamford Bridge on Sunday, May 28. He will replace interim manager Frank Lampard on a deal that ties him to the club until June 2026. His appointment was confirmed on Twitter by the respected sports journalist Fabrizio Romano, who wrote: ‘Mauricio Pochettino has finally signed the contract as new Chelsea head coach after verbal agreement reached two weeks ago’.

‘#CFC Official statement ready, he’s starting his job as Chelsea manager next week. Contract will be valid until June 2026. Here we go confirmed’, he continued.

The 51 ­ year ­ old was expected to be announced as Chelsea’s new boss after a lengthy period where the club interviewed several potential candidates after sacking Graham Potter. An official statement from Chelsea FC was expected to be released confirming the news.

Pochettino will be fully aware of the task he faces with the Blues currently enjoying one of their worst seasons in a long time, languishing in mid­table.

Todd Boehly splashed an incredible amount of cash on new players before the start of this season but they were unable to inspire the team to success.

It is rumoured that many of those same new recruits now face be ing moved on to fresh pastures, along with a number of the origi nal squad.

PSG goalkeeper hospitalised

luck and hope that the final is a classic!

EWN Over 50s League

SERGIO RICO , the Paris St Germain goalkeeper, was rushed to hospital on Sunday May 28, following a horse­riding accident.

ter a victory over Strasbourg, which prompted the club’s coach, Christophe Galtier, to give his players time off to celebrate.

Football League Cup Final

The final finally took place on Tuesday May 30 and will be contested by Malaga WFC and the Walking Dead WFC at El Canadon, Las Lagunas, Mijas. By the time of this EWN publication, the result will be known and the victors will have been crowned as cup winners. Consequently, we wish both teams the best of

Of course, the Over 50s League Champions have been known for a few weeks: AC Benahavis WFC. Unfortunately, their winners’ trophy and medals could not be presented at their final game, and so, to help celebrate their fine achievement, a celebratory game will be played just before the Costa del Sol Cup Final at El Canadon between two mixed teams made up of players from three of our western Costa clubs, at the end of which AC Benahavis WFC will at last be rightly presented with their Over 50s League Champions Trophy and medals! Well done once more, AC Benahavis WFC!

According to a news outlet, the accident occurred at around 9am. The Spanish international was apparently riding a horse when another runaway horse ran into him, throwing him to the ground.

Rico was immediately transferred in a medical helicopter to the Virgen del Rocio in Sevilla. He is believed to have been intubated after suffering head injuries and is reportedly in a ‘serious condition’.

His PSG side lifted the Ligue 1 title on Saturday May 27, af­

The former Sevilla keeper immediately boarded a flight to Sevilla from where it is thought he intended to visit Huelva. It is believed that Rico was on the horse heading for Huelva at the time of the accident.

He began his football career at Sevilla, with whom Rico twice won the Europa League. After making 170 appearances, he initially signed on loan for the French giants in 2019. In 2016 he made his debut for the Spanish international team during the Euros.

Rice could join Bayern Munich

A GIANT spanner was thrown in the works on Monday, May 29, when it was revealed that Bayern Munich manager Thomas Tuchel allegedly called Declan Rice.

According to the reputed football journalist Florian Plettenberg, the West Ham and England star had a ‘good talk’ with the former Chelsea manager who is now in charge of the Bundesliga champions.

In a tweet, he wrote: ‘News #Rice: There was a phone call with #Tuchel a few days ago! Been told it was a good talk. Both appreciate each other. Rice is open to join Bayern & Tuchel. FCB wants to in tensify their efforts now. He’s still a transfer target. But: Time is run ning as he could sign for Arsenal. @SkySportDE’. That news will not have been music to the ears of Mikel Arteta and Erik ten Hag, both of whom are known to be chasing the signature of the

Credit: George Monie/Shutterstock.com

old midfielder and West

Although his team struggled in the Premier League, eventually avoiding relegation, he has led the Hammers to a Europa Conference League final with Serie A side Fiorentina. Winning West Ham’s first major trophy since 1980 would be a rather fitting way to say goodbye to London at

Tuchel has also been the subject of rumours regarding his future in Germany since the club won the title. As reported by a news source, just after Bayern were proclaimed champions, CEO Oliver Kahn and sporting director Hasan Salihamidzic were both fired.

Rice is open to joining Bayern Munich.

EWN 1 - 7 June 2023 euroweeklynews.com SPORT 24
WALKING DEAD: The over 60s league champions.
Credit: MDI/Shutterstock.com
Дмитрий Садовников
Credit: Sergio Rico playing for Sevilla in 2017.

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