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The number of people registering as jobless in Spain fell 2.77%in April to 3.02 million people, the lowest level since July 2019, as hirings sped up and took formal jobs to over 20 million for the first time ever, official data showed on Wednesday, Reuters reported. Most sectors added jobs in the month, and a strong recovery of the pandemic-ravaged tourism industry during the Easter holidays also contributed to the improvements in the labour market data, the Labour Ministry said.
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Spain's state rescue fund FROB has increased its stake in the country's "bad bank" Sareb to more than 50%, in line with a European Union order to count its liabilities as public debt, Reuters reported. FROB said on Tuesday that it had bought a 4.24% stake in Sareb, set up in 2012 to take on bad loans after the financial crisis, to raise its holding to 50.14%. No price was given but several sources with knowledge of the matter said it was merely symbolic.
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Spain's labour market withstood soaring inflation and a crippling truckers' strike in March to see a drop in unemployment, data showed on Monday, helped in part by reforms aimed at cutting the use of temporary contracts, Reuters reported. The number of people registering as jobless in Spain slipped 0.09% in March from February, or by 2,921 people, leaving 3.11 million people out of work, Labour Ministry data showed. Spain added 23,998 net jobs during the month, a 0.12% rise from February.
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Three Spanish truckers unions on Tuesday dismissed a government aid package and joined a spontaneous one-week strike against rising fuel prices that is likely to aggravate a shortage of food products in supermarkets across the country, KFGO.com reported. The three truckers unions opted to join the strike after they decided a 500 million euro ($550.45 million) government support package offered on Monday was vague and not enough to compensate for the soaring price of diesel.

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A truck drivers' strike for better working conditions has caused disruptions at some supermarkets and certain industries in Spain, with dairy food producers complaining on Thursday of some supply shortages as they received less milk, Reuters reported.

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Spain suffered the euro zone’s worst slump after the Covid-19 pandemic erupted -- but it would have been much worse without speedy action from the European Central Bank, according to a new study, Bloomberg News reported. The ECB’s bond-buying and liquidity lines kept credit flowing, sovereign-debt costs steady and permitted extra public spending, BBVA Research economists Sonsoles Castillo, Rafael Domenech and Miguel Jimenez said in the paper, published Tuesday.
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The impact of the pandemic on the productive fabric has caused that in 2021 a total of 5,496 companies in Spain have been doomed to bankruptcy, despite the fact that the government approved the granting of aid for companies affected by the pandemic and has kept the obligation for companies to present a tender when reaching a situation of insolvency and not being able to cope with debts, CVBJ.biz reported.
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Yesterday’s announcement came as sources claim the Barcelona-based aviation company were facing debts of up to €300 million, TNT Magazine reported. Lawyers for the company are reportedly keen to avoid being forced into involuntary bankruptcy by creditors. Last weekend saw travel chaos as close to 20,000 passengers were stranded with just a few hours notice. Spanair employs around 4,000 people and is the 4th largest airline in Spain.
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It was announced last week that an agreement between Barcelona and Man City regarding the transfer of Torres and now the deal is complete, Cheraw Chronicle reported. The original will be presented at the Camp Nou. Torres broke through against Valencia and marked the summer 2020 move to City. The English superpower has noticed the Spain international 22 times, despite suffering a foot injury since October. In Manchester he was good at scoring 16 goals. Barcelona are only seventh in La Liga and have failed to survive the Champions League group stage for the first time since 2000.
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Spain's government proposed on Tuesday to reform its insolvency law to simplify bankruptcy proceedings and meet a major condition agreed with Brussels to obtain European Union recovery funds, Reuters reported. The current insolvency system has been criticised by organisations such as the International Monetary Fund for being slow and convoluted, often driving companies to wind up.
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