The Spanish economy gained a little pace in the three months through June, a sign of resilience for a eurozone facing a slowdown as higher U.S. tariffs bite, the Wall Street Journal reported. Gross domestic product grew 0.7% in the second quarter, accelerating a little from 0.6% in the first months of the year, the country’s statistics office said Tuesday. Spain was the wealthy world’s fastest-growing economy last year, and the International Monetary Fund expects it to keep leading the pack over 2025.
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The European Union began proceedings against Spain over its intervention in banking mergers after the government blocked the legal combination of BBVA BBVA 0.59%increase; green up pointing triangle and Sabadell SAB 0.24%increase; green up pointing triangle for at least three years, the Wall Street Journal reported.
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Spanish Banco Santander S.A., the biggest lender in continental Europe by market capitalisation, is buying Scotland-based commercial bank TSB for £2.65 billion (€3.08bn). This is a major step to bolster the Spanish lender’s future in the UK, as it has been struggling to keep its UK arm afloat, EuroNews reported. The acquisition of TSB Bank means 5 million customers will be transferred to Santander, who will keep a total of £35bn (€40.1bn) in their deposits.
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Conflict in the Middle East has pushed inflation higher for the first time in 2025 and weakened confidence in the eurozone, according to data released Friday, the Wall Street Journal reported. Consumer prices were 0.8% higher in France and 2.2% higher in Spain in June than a year earlier compared with 0.6% and 2% in May, respectively, according to European Union harmonized data.
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The Spanish economy continued to expand at a rapid pace at the start of the year, signalling continued underlying strength in the wealthy world’s top-performing economy ahead of trade tariffs that could yet put a brake on momentum, the Wall Street Journal reported. Gross domestic product increased by 0.6% in the first three months of the year, in line with economists’ estimates, according to figures set out Tuesday by Spain’s statistics agency. Exports of goods and services rose 1.0%, accelerating rapidly from the previous quarter.
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Spain’s unemployment rate rose in the first quarter, a sign of some caution among employers in an economy nonetheless expected to outperform its peers this year, the Wall Street Journal reported. Joblessness rose to 11.4% between January and March from 10.6% in the final months of last year, according to figures released Monday by Spain’s statistics authority. This is the first time since the first quarter of last year that unemployment has increased in the eurozone’s fourth-largest economy. Joblessness rose in all sectors, including in services and industry.
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Spain and Portugal were hit by a major power outage that caused widespread disruption to flights, traffic and telecommunications across the Iberian Peninsula, the Wall Street Journal reported. Businesses, hospitals and other critical infrastructure were forced to rely on backup generators and homes were without electricity as authorities scrambled to identify the cause of Monday’s blackout. Grid operators in both countries said they were progressively reinstating power.
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The Spanish government will provide 14.1 billion euros ($15.66 billion) worth of measures to help its economy weather the impact of the new U.S. tariffs, Prime Minister Pedro Sanchez said on Thursday, Reuters reported. The new tariffs announced by U.S. President Donald Trump on Wednesday have rattled markets and drew condemnation from world leaders facing an abrupt end of an era of trade liberalisation that has shaped the global order for decades. Spain, which like other European Union members was hit by U.S.
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BBVA’s customers in Spain will soon be able to buy, sell, and manage bitcoin and ether transactions through the bank’s app, after the lender received the green light from the Spanish Securities and Exchange Commission (CNMV), EuroNews reported. According to the European Markets in Cryptoassets Regulation (MiCA), banks must secure this approval if they want to offer crypto services.

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