Banco Santander Approached Sabadell About TSB Purchase, Sky Says
Spain's largest lender has approached Sabadell about a possible purchase of its UK retail bank TSB, Sky said, citing people familiar with the matter. Santander hasn't yet made an offer and TSB's potential valuation in any takeover deal is unclear, Sky added.
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Associated Press
2 hours ago
- Associated Press
European cheeses stand out at 'Summer Fancy Food' in New York, the most important fair of the year in the US for gourmet foods
The promotion and information campaign 'Discover the European Cheestories with cheeses from Spain', promoted by theInterprofessional Dairy Organization (InLac)with the support of the European Union, marked a new milestone with its participation in the prestigious 'Summer Fancy Food' in New York, the most important event of the year for gourmet foods in the USA. The fair, which took place between June 29 and July 1 at the Jacob K. Javits Convention Center, featured an exhibition and tasting of European cheeses by Erin T. Connolly, certified cheese professional. Specifically, the references of the Arzúa-Ulloa PDO, Murcia PDO al Vino, Idiazabal PDO, Blended Cheese, Manchego PDO, Majorero PDO, Mahón-Menorca PDO, Tetilla PDO, Valdeón PGI or Zamorano PDO, among others, shone. Since 1955 the Specialty Food Association has organized the Fancy Food Shows that take place twice a year: Winter Fancy Food in San Francisco/Las Vegas in winter and Summer Fancy Food in New York in summer. The latter is the main edition. In this edition, Spain has also been the guest country at the fair, with strategic visibility and location to showcase its productions, marked by European production methods that prioritise quality, traceability, food safety, sustainability and welfare of farm animals. Connollyhighlighted the gastronomic benefits, excellence and versatility of European cheeses of Spanish origin: 'Europe can boast of having some of the best references in the world, made with cow's, goat's, sheep's milk or a mixture, in many cases from cattle of native breeds that can only be found there. In Spain alone we find more than 150 types of cheeses, among which some thirty stand out with quality figures or labels recognized by the EU, such as designations of origin or protected geographical indications, which coexist perfectly with the territories where they are produced. They are gastronomic jewels, authentically unique'. Participation in fairs has been one of the priorities of the 'Cheestories' promotional campaign, allowing the European sector to be present in relevant forums in New York, Las Vegas or Chicago, to publicise cheeses and help their unstoppable expansion in the USA', as the managing director of InLac recalled, Nuria María Arribas. 'Internationalization is unstoppable for our famous cheeses. In 2024, for example, exports of European cheese of Spanish origin to all foreign destinations increased in volume (+6.95% to 125,206 tonnes) and value (+4.57% to 839.42 million euros). Shipments to the US have an important weight, concentrating 14.45% in value and almost 8% in volume of the total, which makes it the third foreign market in the sector in value and the fourth in volume', Arribas stressed, although 'the growth potential is still enormous, so we are going to continue to bet firmly on this country'.
Bloomberg
7 hours ago
- Bloomberg
Mercedes to LVMH Are Blunting the EU's Fight Against Trump's Tariffs
German automaker Mercedes-Benz Group AG, French luxury giant LVMH Moët Hennessy Louis Vuitton SE and other major European firms are spearheading a corporate push that's weakening the European Union's efforts to stand up to Donald Trump's tariff threats. In a bid to head off a transatlantic trade war, some executives have held back-channel meetings with US officials to pursue their own interests. The initiatives have included pressing European governments and Brussels for a quick deal and removing iconic American products — such as bourbon — from a list of goods to be targeted in retaliation to defuse the potential for escalation, according to people familiar with the matter.
Bloomberg
11 hours ago
- Bloomberg
German Coalition Resists Calls for Wider Electricity-Tax Cut
German Chancellor Friedrich Merz's ruling coalition rebuffed calls to expand an electricity-tax discount to include households and additional companies, saying they'll only do so when they have 'financial leeway.' In their blueprint for government, Merz's conservative CDU/CSU bloc and the Social Democrats pledged to cut electricity levies for all consumers to the European minimum. However, the draft 2025 budget presented last week only included an easing of the burden for larger manufacturers, farmers and the forestry sector.
