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News about Economy & Business

06 March 2022, Russia, Saint Petersburg: The logos of various payment systems with Sberbank written on them are pasted on a window of a store. Russia's largest bank - Sberbank - wants to ensure that people can pay and withdraw money with their cards even after Visa and Mastercard credit cards are switched off. Photo: Igor Russak/dpa.

WAR IN UKRAINE

Credit card companies Visa and Mastercard suspend business in Russia

The Nomad Today/dpa 3/6/22

Russia's largest bank - Sberbank - wants to ensure that people can pay and withdraw money with their cards even after Visa and Mastercard credit cards are switched off

WAR IN UKRAINE

Spanish fashion giant Inditex temporarily closes 502 Russian stores

The Nomad Today/dpa 3/5/22

The parent company of Spanish fast fashion retailer Zara, is set to leave the country, which will mean the temporary closure of 502 stores across Russia

20 June 2020, Spain, Barcelona: People wearing face masks walk along the shopping street Portal del Angel after they were allowed to move freely again as Spain is no longer in a coronavirus emergency. Photo: Jordi Boixareu/ZUMA Wire/dpa

CONSUMER PRICES

Spanish inflation rises to 7.4% in February, a record since 1989

The Nomad Today 2/28/22

Prime Minister Pedro Sanchez and experts have warned that Russia's invasion of Ukraine will likely push energy prices even higher

24 February 2022, Japan, Tokyo: A man walks past an electronic stock exchange board displaying Japan's Nikkei stock index in downtown Tokyo. Japan's Nikkei index fell below 26,000 points on Thursday for the first time since November 2020 after Russian troops attacked Ukraine in the morning. Photo: Rodrigo Reyes Marin/ZUMA Press Wire/dpa.

WAR IN UKRAINE

World markets dive, oil soars as Russia invades Ukraine

The Nomad Today/dpa 2/24/22

The rouble currency meanwhile fell to a record low against the US dollar, losing 6% of its value

A woman shopping for groceries. Photo: Pexels.

TAXATION

VAT rates in Spain: Products with reduced or super-reduced taxes

The Nomad Today 2/17/22

Most of the goods and services sold in Spain are subject to the general VAT rate of 21%

28 October 2021, Ukraine, ---: Facebook CEO Mark Zuckerberg is seen on a video displayed on a smartphone screen as he announces the new name for Facebook. Facebook changed its corporate name to Meta in a nod to the "metaverse." Photo: Pavlo Gonchar/SOPA Images via ZUMA Press Wire/dpa

BUSINESS

US state of Texas sues Meta for facial-recognition without consent

The Nomad Today/dpa 2/15/22

Attorney General Ken Paxton alleged that the social media giant has been storing millions of biometric identifiers, defined by statute as "a retina or iris scan, fingerprint, voiceprint, or record…

Charcuterie section of a supermarket in Spain. Photo: Pixabay.

CONSUMER PRICES

Inflation in Spain 6.1% in the first month of the year 2022

The Nomad Today 2/15/22

Men's clothing became 5% more expensive, and women's 4%

A view of the Gran Via avenue in Madrid. Photo: Pixabay.

BUSINESS

Madrid heads the ranking of company creation in Spain

The Nomad Today 2/11/22

Nearly one in four companies registered in 2021 was in the Madrid region, while almost one in five was in Catalonia

08 July 2021, Lithuania, Siauliai: Spanish Prime Minister Pedro Sanchez (R) and Lithuanian President Gitanas Nauseda, talk during a visit to the Spanish troops on a NATO mission at the Siauliai base. Photo: Pool Moncloa/Fernando Calvo/EUROPA PRESS/dpa

TRADE

China steps up trade conflict with Lithuania over Taiwan

The Nomad Today/dpa 2/11/22

Beijing considers Taiwan part of the People's Republic of China rather than an independent state and seeks to isolate it internationally

01 February 2022, United Kingdom, London: UK Culture Secretary Nadine Dorries arrives at Downing Street, for the government's weekly Cabinet meeting. Photo: Stefan Rousseau/PA Wire/dpa.

TECHNOLOGY

Nvidia scraps deal to buy British chip designer Arm

The Nomad Today/dpa 2/8/22

UK Culture Secretary Nadine Dorries ordered a more in-depth investigation into the deal on national security as well as competition grounds

FILED - Fiber optic cables plug into a network switch in a data center. The digital economy in Germany will continue to grow strongly in the year and create almost 40,000 new jobs. (Symbolic image for "digital industry back to the level before the corona shock") Photo: Matthias Balk/dpa.

ECONOMY

Spanish industrial production fell at the end of the year

The Nomad Today 2/8/22

The fall was driven by a sharp decline in non-durable consumer goods, the Spanish statistical office (INE) said on Tuesday

FILED - 28 April 2021, Berlin: A general view of the Google Chrome app on the screen of a smartphone. Tech giant Google has decided to overhaul the visual identity of its Chrome browser, the first change it has initiated in eight years. Photo: Fabian Sommer/dpa.

INTERNET

Google Chrome gets visual identity overhaul after eight years

The Nomad Today/dpa 2/7/22

The first changes since 2014 are very subtle, and will be visible on both the app and web version of the browser within the next few months

RETAIL

Amazon increases the fee for its Prime membership service

The Nomad Today/dpa 2/4/22

At present, Amazon has more than 200 million paid subscribers worldwide.

Car gasoline fuel. Photo: Pixabay.

CONSUMER PRICES

Filling the car's gas tank in Spain has never been so expensive

The Nomad Today 2/3/22

The average price of gasoline in Spain set an all-time record, according to the latest Oil Bulletin of the European Commission

ENERGY

Oil and gas giant Shell plans share buyback after strong recovery

The Nomad Today/dpa 2/3/22

Revenue for the quarter nearly doubled to $85.3 billion from $44 billion in the previous year

FILED - 06 September 2021, Bavaria, Munich: Oliver Zipse, Chairman of the Board of Management of BMW AG, stands at the BMW booth during the press day ahead of the International Motor Show. Zipse warned against what he called a "premature and ill-considered" ban on combustion engines, even though electric mobility is a fast-growing market segment. Photo: Sven Hoppe/dpa.

AUTOMOTIVE

BMW boss warns against 'premature' ban on combustion engines

The Nomad Today/dpa 2/3/22

Oliver Zipse said combustion engine should not be abandoned "unilaterally for ideological reasons"

22/12/2021. Finance Minister María Jesús Montero speaks at the lower house of Parliamente (Congreso de los Diputados). Photo: Eva Ercolanese/PSOE.

TAX FRAUD

Spanish Tax Agency focuses new anti-fraud plan on cryptocurrencies

The Nomad Today 2/2/22

The objective of the Treasury is to tax the capital gains derived from this type of operations with virtual currencies

HANDOUT - 02 February 2022, Belgium, Brussels: European Financial Services Commissioner Mairead McGuinness speaks during a press conference in Brussels. Photo: Lukasz Kobus/European Commission/dpa - ATTENTION: editorial use only and only if the credit mentioned above is referenced in full.

CONTROVERSY

EU executive labels gas, nuclear energy as sustainable investments

The Nomad Today/dpa 2/2/22

The environmental group Greenpeace accused the commission in a statement of an "attempted robbery" of climate funds with its "anti-science plan"

Santander bicycle bike by Pixabay.

BANKING SECTOR

Spain's Banco Santander achieves full-year profit

The Nomad Today/dpa 2/2/22

Total income for the year was 46.40 billion euros up from 44.28 billion euros last year

dpatop - 2021: A projection by the environmental protection organization Greenpeace shines on the German nuclear power plant Grohnde (long exposure). A debate has flared up in the EU about the climate impact of nuclear power plants. Photo: Julian Stratenschulte/dpa.

ENERGY

EU to classify nuclear and gas as sustainable energy investments

The Nomad Today/dpa 2/2/22

Spain in January rejected the move in joint letter to the European Commission with Denmark, Austria and Luxembourg