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Spain leads Europe SPAIN is positioning itself at the centre of Europe’s digital transformation, following a landmark Spain Digital Week in Brussels that united European and Spanish leaders, business executives, and tech innovators. The event coincided with the European Commission’s conference marking one year since Mario Draghi’s report on competitiveness. The report identified structural challenges in Europe’s economy – such as regulatory fragmentation, lack of investment, and overdependence on foreign technology – and proposed reforms to boost innovation. According to the Commission, more than half of the 90 initiatives under its Competitiveness Compass have now been implemented, mobilising over €1 trillion in investments for AI, clean tech, and innovation projects. At the forum, Adigital CEO César Tello urged policymakers to focus on better regulation, not deregulation, calling for streamlined digital frameworks that support business scalability and innovation across the EU. Spain aims to use its growing digital capacity to act as a bridge between Europe and Latin America, strengthening its global position as a hub for technology, trade, and data governance. Tello added that “the digital revolution will not wait,” urging Europe to act collectively to become a true global leader in technology. If Spain delivers on its vision, it could become the leading digital hub in Europe, and a key link between continents. City chief warning CITY of London Corporation Policy Chairman Chris Hayward has urged the Chancellor to “supercharge, not stall” the UK’s financial services sector in the Autumn Budget, calling it “the engine of the UK economy.” The Square Mile now employs 678,000 people – 25 per cent above pre-pandemic levels – and generates over £110 billion annually. Hayward warned that with a £115 billion investment gap, the Budget must inject “creativity, capital and confidence.” The Corporation’s recommendations include keeping financial services VAT-free, phasing out the bank levy, abolishing stamp duty on UK shares, and developing a pipeline of investible projects in infrastructure and technology. It also calls for pension reform, stronger retail investment incentives, and a leading role for the UK in sustainable finance ahead of COP30. Hayward said: “Sending the right signals to wealth creators is essential for growth and prosperity.” FCA disclosure THE UK’s Financial Conduct Authority (FCA) plans to stop revealing the names of investors betting against listed companies, the Financial Times reported. Under the new rules, only the total short positions will be published, without identifying individual traders. The change aims to simplify reporting and reduce market speculation linked to short-selling disclosures. The FCA is expected to confirm the move soon, marking a significant shift in UK market transparency rules. Iberdrola profits IBERDROLA reported record investments of €9 billion for 2025, driven by growth in the UK and US, boosting net profit by 17 per cent to €5.3 billion. Network operating profit rose 26 per cent, while renewables and retail EBITDA fell 11 per cent due to Mexico divestments and higher Iberian costs. Cash flow climbed 10 per cent to €9.7 billion, with net debt reduced to €48.5 billion. Welsh defence WALES is set to benefit from £1.1 billion in UK defence investment, supporting around 3,900 skilled jobs across the nation, according to the UK Government’s new Defence Footprint report. The spending equates to £340 per person, backing industries such as advanced manufacturing and cybersecurity from Anglesey to Cardiff. The investment is part of plans to raise defence spending to 2.6 per cent of GDP by 2027, with ambitions for 3 per cent, driving national security. Waste power SPANISH scientists have developed new technology to turn sewage sludge into activated carbon for sustainable battery production, offering a breakthrough in waste management and clean energy. The innovation, created by the Chemical Institute for Energy and Environment (Iquema) with the Villaviciosa wastewater plant, transforms urban waste through pyrolysis at 800°C and mixing with sulphur to make high-capacity electrodes. These sulphur-based batteries can store up to three times more energy than lithium-ion cells, supporting Spain’s renewable energy goals. Spain’s IBEX 35 THE main Spanish stock market index, the IBEX 35, has hit a new record high of 16,054 points, beating its previous peak from 2007. The index has jumped 38 per cent this year, doing better than any other major European market. The rise has been driven by strong gains in Spanish banks, with Santander’s shares up about 90 per cent in 2025. Other banks in the index have also climbed between 67 and 82 per cent. Experts say Spain’s healthy economy and banks’ growth in Latin America have helped push the market to its highest level ever. Digi Spain IPO ROMANIAN telecom group Digi Communications plans to list its Spanish business in an initial public offering (IPO) valued at around €2.5 billion, according to Profit.ro. The company has appointed Barclays, Santander, and UBS as global coordinators, with Rothschild as financial adviser. The IPO could take place as early as May 2026 and would see between 25 and 30 per cent of shares sold. Digi Spain is now the country’s fourth-largest telecom operator, behind Telefónica, Masorange, and Vodafone. The company says it will keep control of its Spanish unit, using IPO funds to grow its network across Western Europe. Illegal waste CRIME groups are earning millions from illegal waste dumping across the UK, a Lords committee has warned. Peers said weak enforcement and few prosecutions have made waste crime a “low-risk, high-reward” industry, costing the economy £1 billion a year and causing environmental damage. Redeia profits REDEIA, parent company of Red Eléctrica de España, reported a 4.6 per cent fall in profits to €389.8 million in the first nine months of 2025. This was despite a 47.6 per cent surge in investment, focusing on electricity network expansion across Spain. Delta dining DELTA AIR LINES has partnered with Spanish Chef José Andrés to strengthen its premium cabin brand and attract high-value travellers. Launching November 4, it offers Spanish-inspired dishes such as tortilla with pisto manchego and braised beef short rib, supporting Delta’s premium revenue growth strategy. UK investment CHANCELLOR Rachel Reeves has announced £6.4 billion in new UK–Saudi trade and investment agreements, including £5 billion in export finance to support British manufacturing. The package includes major deals with Barclays, HSBC, and AI firm Quantexa. 5G in Spain TELEFÓNICA has consolidated its 5G leadership in Spain, reaching 5,700 municipalities and more than 94 per cent of the population. The operator now has nearly 3,000 high-performance 3.5 GHz nodes and 5,000 on the 700 MHz band, reinforcing ultra-fast, low-latency connectivity. Statistic of the week: Spain’s GDP registered a variation of 0.6 per cent in the third quarter compared with the previous quarter. View all finance news. View all news from Spain. View all UK news.
