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New York Post
4 days ago
- New York Post
Summer beach battle between locals and visitors heats up as overtourism soars
As overtourism continues to grow into a serious problem, the summer travel season has European locals fighting for beach real estate. Local tourism has fallen in Spain by 800,000 people — while foreign tourism has seen an increase of 1.94 million visitors, according to The Associated Press (AP). Spaniard Wendy Davila told AP she misses the days of her childhood holidays visiting Alicante on the Mediterranean. 'Now you don't go on [vacation] wherever you want, but wherever you can,' said Davila. She added, 'Prices have risen outrageously. The whole Spanish coast is very expensive.' Last month, protesters gathered in Barcelona and on the island of Mallorca. Some squirted tourists with water guns to try to 'cool town' tourism, claiming their rents are soaring, Fox News Digital previously reported. 5 Anti-tourist activists walked by people eating outside at a restaurant in Ibiza. Bav Media / 5 A woman held up an anti-tourist sign during Tuesday's demonstration on the island of Mallorca. AFP via Getty Images Jose Maria Basanez, group president of price monitoring firm Tecnitasa, told AP, 'It is becoming increasingly difficult for Spanish holidaymakers to afford beachfront tourism rentals.' Most beachfront rentals were booked for the summer by the first quarter, with prices rising 20.3% since mid-2023, according to Tecnitasa. Ninety-four million international travelers visited Spain in 2024, according to the country's tourism minister. 5 Tourists were photographed crowding the sidewalks with their suitcases in Madrid on July 7. REUTERS 5 An anti-tourism banner was placed on the street in Barcelona on Monday. REUTERS Juan Pedro Aznar, professor and researcher at the Madrid-based Esade business school, told AP there could be a displacement effect due to Spaniards' purchasing power in comparison to that of foreign tourists. 'I used to go to my family's house, but there are more and more foreign tourists in Cadiz and when a cruise ship arrives, the population doubles,' said Aznar. He added, 'It's overwhelming.' 5 Beachfront rentals rose 20.3% since mid-2023. Locals in Spain made about 400,000 fewer trips to the major cities, while foreign tourist trips to Spanish cities increased by nearly 3 million last year, according to AP. Barcelona officials had planned to ban short-term tourist apartment rentals by 2028, FOX Business previously reported. Short-term rentals in Barcelona have been stagnant for years, remaining at around 10,000 since 2014, according to figures from Barcelona's City Hall.
Morocco World
10-07-2025
- Sport
- Morocco World
Hakimi Ignored, Dembélé Adored – Spanish Media Pick Their Favorite
Ousmane Dembélé, we're told, is destined to win the Ballon d'Or. Marca seems convinced. PSG president Nasser Al-Khelaïfi is borderline campaigning for his winger. And yet, Morocco's Achraf Hakimi – who's had a spectacular season that redefined what it means to be a defender – is laughably ignored. One begins to suspect this is less about football, more about feelings. Spanish feelings. Let's start with Marca. The Madrid-based daily wrote today: 'Ousmane Dembélé took another step toward winning the 2025 Ballon d'Or,' after his goal against Real Madrid. They trumpeted his stats – 35 goals and 15 assists. Not one mention of the Moroccan who's played every bit as decisive a role in each of PSG's glittering season so far – and done so from right-back. One wonders what Marca is playing at. Supporting a Frenchman is fair game. But ignoring the man raised on Spanish pitches and educated in La Fábrica? That's either poor memory or a thinly veiled grudge. Is it still about that night in Qatar, when Hakimi coolly chipped the ball past Unai Simón, danced in penguin style, and sent Spain packing from the World Cup? Or earlier, when he turned his back on La Roja to represent the Atlas Lions? Whatever it is, Marca's editorial compass is clearly unbiased. When asked who he would pick to win the award, PSG president Nasser Al-Khelaïfi was blunt. 'If Ousmane Dembélé doesn't win the Ballon d'Or, there's a problem! Given the season he's had – a magnificent campaign – there's no doubt he should win…If he doesn't, something's wrong.' Let's talk facts now. Hakimi, mind you, is the man who 'has continually pushed the limits of his position,' according to French sports magazine Onze Mondial. He has now broken the 14-year-old record held by Dani Alves for most goal contributions by a defender in a single season – 27, with one more game to go against Chelsea in the final of the Club World Cup. He even scored the opener in the Champions League final against Inter – the goal that opened the floodgates for a Milanese thrashing. Eurosport had at least the decency to call a spade a spade: 'Hakimi is not just a footballer – he's a phenomenon. A defender who plays like a forward, dictates like a midfielder, and defends with old-school grit – 'a lateral total', they called him. Rightly so. And yet, in this year's Ballon d'Or narrative, he's been relegated to a supporting act – when, in truth, he's defied all odds from the defensive department and orchestrated victories all season coming from the back. If football's most prestigious award is truly about merit, influence, and the ability to redefine a position, then there's no clearer candidate than the boy from Oued Zem. But perhaps the most cutting line came from Eurosport: 'Hakimi's biggest weakness is being a defender. At least on paper.' In truth, his only real offence is playing at the back – and not being French enough to receive a Frenchie award. Tags: Achraf HakimiBallon D'orFranceMARCAOusmane DembelePSGSpain
Mint
07-07-2025
- Business
- Mint
Top Spain Stainless Steel Maker Wants EU to Be More Like Trump on Trade
Europe's approach to trade will need to be more like Donald Trump's to protect an ailing steel industry from a flood of Chinese imports, according to the head of one of the region's top stainless steel makers. Only outright tariffs can counter the wave of cheap Asian supplies that a safeguard system under the World Trade Organization's free-trade rules has failed to contain, said Bernardo Velazquez, chief executive officer of Spain's Acerinox SA. 'If we don't want to rely solely on imports and have our own supply of strategic raw materials, we need to consider imposing tariffs,' Velazquez said in an interview in Madrid. 'I'm not saying tariffs should be our 'favorite word' as Trump said, but we should stop having forbidden words in Europe.' European steelmakers have been grappling in recent years with high energy costs and competition from Asian peers saddled with overcapacity. The trade wars triggered by the US president will likely only make things worse — not only due to less access to the American market but also because the EU will be targeted by Asian mills even more. 'They will target the world's largest free market, which is Europe,' said Velazquez. The EU's safeguard system sets country quotas for duty-free imports and imposes a 25% levy on shipments above that. Chinese mills have partly skirted the system by selling their steel to Europe through third countries. In the case of stainless steel, Indonesia is also a major producer that's been overwhelming the European market, Velazquez said. Other top producers of the material in Asia include India and Japan. The safeguard, first implemented in 2018, is due to expire in 2026 and can no longer be renewed, but could be replaced by another instrument. If nothing changes, European production 'will remain in Europe, as there will be no other market to sell to' and Asian manufacturers will also look to the region's market as they, too, will no longer be able to sell to the US, said Velazquez. On the bright side, Velazquez sees Germany's recently approved spending package as a potential driver for the industry, a view shared with other players who have called for tariffs to ensure they can back Europe's renewed defense and infrastructure push. Acerinox has a diversified business, with most of its earnings before items coming from the US. Its North American Stainless Inc. unit makes about half of that kind of steel in the continent. Still, the Madrid-based company's North American operations won't necessarily fully benefit from the tariffs imposed by Trump, said Velazquez. They're 'a political matter' which is 'creating a lot of uncertainty even for American companies. We don't know whether the countries from which we buy our equipments or raw material will be subject to some kind of restrictions' and that has an impact on the business, he said. This article was generated from an automated news agency feed without modifications to text.
Business Wire
01-07-2025
- Business
- Business Wire
Santander Holdings USA, Inc. Announces 2025 Stress Capital Buffer
BOSTON--(BUSINESS WIRE)--The Board of Governors of the Federal Reserve System (the 'Federal Reserve') informed Santander Holdings USA, Inc. ('SHUSA') on June 27, 2025, of SHUSA's updated stress capital buffer ('SCB') requirement, which becomes effective on October 1, 2025. SHUSA's updated SCB will be 3.4% of its common equity Tier 1 capital ('CET1'), resulting in an overall CET1 capital requirement of 7.9%. SHUSA's strong capitalization supports our planned capital actions, and the updated SCB is consistent with our long-term capital efficiency objectives. As of March 31, 2025, SHUSA maintained $5.0 billion of excess CET1 capital over the updated 7.9% capital requirement. As a Category IV firm under the Federal Reserve's tailoring rule, SHUSA was not subject to the Federal Reserve's 2025 supervisory stress test and SHUSA's results were not publicly released. SHUSA completes its own stress tests utilizing our internally developed bank holding company stress scenario as well as the scenarios provided by the Federal Reserve. In our 2025 stress testing exercise, SHUSA maintains a strong capital position under all forecasted scenarios. SHUSA's internal recessionary stress scenario includes lower interest rates, high unemployment and large shocks to used car and commercial real estate prices. Santander Holdings USA, Inc. (SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) (Santander), recognized as one of the world's most admired companies by Fortune Magazine in 2025, with approximately 175 million customers in the U.S., Europe and Latin America. As the intermediate holding company for Santander's U.S. businesses, SHUSA is the parent company of financial companies with more than 11,300 employees, 4.5 million customers, and assets of $165 billion in the fiscal year ended 2024. These include Santander Bank, N.A., Santander Consumer USA Holdings Inc., Banco Santander International, Santander Securities LLC, Santander US Capital Markets LLC and several other subsidiaries. Santander US is recognized as a top 10 auto lender as well as a top 10 multifamily bank lender and servicer, and has a growing wealth management business. For more information about Santander US, please visit
News18
01-07-2025
- Climate
- News18
Red Alerts Across Europe Amid Record Heatwave, Temperature Soars To 46°C In Spain's Mora
Last Updated: The summer's first major heatwave has sent temperatures soaring across the Mediterranean region, pushing the sea itself to its highest June temperature on record A relentless heatwave gripping southern Europe has pushed cities into crisis mode, with Paris on red alert, temperatures in Spain and Portugal smashing records, and wildfires forcing tens of thousands to evacuate. As extreme heat fuels health emergencies and environmental disasters, meteorologists warn this could be a preview of summers to come. The summer's first major heatwave has sent temperatures soaring across the Mediterranean region, pushing the sea itself to its highest June temperature on record. In France, the national weather service issued its highest alert for Paris and 15 surrounding departments, forecasting temperatures as high as 41°C (105.8°F). To combat hazardous ozone pollution, authorities in Paris banned all but the least polluting vehicles from roads and imposed speed restrictions. Ambulances were deployed near major tourist areas, while experts warned that heatwaves—intensified by climate change—are now becoming more frequent and severe. In Turkey, more than 50,000 people were evacuated from the Izmir province, where winds clocking 120 km/h (75 mph) worsened wildfires. Meanwhile, southern France battled fires triggered by something as simple as an improperly extinguished barbecue, destroying nearly 1,000 acres of vegetation. Record-breaking temperatures were logged across the Iberian Peninsula, with Spain hitting 46°C and Portugal recording 46.6°C in Mora, both setting new June records. Red alerts remained active across multiple regions, including Lisbon, as wildfires spread in forested areas. In Italy, terrifying scenes unfolded as beachgoers in Baia Domizia near Naples fled into the sea, with flames engulfing pinewoods behind them. 'I have never experienced anything like this. We were surrounded by flames at least 30 meters high," said Cellole's mayor, Guido di Leone. In France, the government announced that over 1,300 schools would be closed or operating in limited capacity due to the heat, nearly double the number from the previous day. The heatwave is expected to peak on Tuesday and Wednesday, with some cities preparing for it to stretch into the weekend. Elsewhere, Italy issued red alerts for 18 cities, including Rome, Milan, Palermo, and Verona. Politicians raised alarms over the inhumane conditions in the country's overcrowded prisons, where heat exacerbates tensions—a concern echoed in French prisons, with union leaders calling the conditions 'unbearable." Further east, Croatia, Montenegro, and Serbia are under extreme heat advisories, with Serbia also facing severe drought conditions. Even typically cooler regions felt the strain. In the UK, the Met Office expanded amber heat warnings as temperatures hit 34°C in London, and Wimbledon logged its hottest opening day ever at 31.4°C. 'It's not normal," said Madrid-based photographer Diego Radames, echoing what millions across Europe are thinking. 'Every year feels hotter, especially in the city." Climate scientists continue to emphasize that rising global temperatures are making such extreme heat events longer, stronger, and more dangerous, especially in cities where heat tends to intensify due to dense infrastructure. First Published: July 01, 2025, 09:14 IST
