Company News

Imperial Tobacco to Shift Production of Gauloises and Gitanes to Spain from France

Due to France's stringent conditions, increased regulation and taxes, French cigarettes Gauloises and Gitanes will not be manufactured in France anymore. The decision has been taken as a part of Imperial Tobacco's cost cutting measures. The production unit of the brands will be shifted to Spain.

The company informed that by September 2018, the measures will let the company to register annual savings of £300m. Among the measures are restructuring of its European operations. Factories in Nottingham and Nantes will be closed which will lead to an expected loss of 900 jobs.

eDreams Odigeo Witnesses drop on Opening-Day of IPO

Yet again, Spain has proved that it has been emerging from economic recession. A Spanish company has entered the Madrid stock market with the first initial public offering since the time the country emerged from economic downturn.

Citrus Gourmet is New Tactic to Gain Competitiveness

Increasing citrus supply volumes across the globe seems to be adding pressure on most operators. In fact, it is now being considered that the current season will be counted as one of the worst on record.

Companies in the business are trying different measures to stay in the business. One such tactic adopted by Naranjas Torres is varietal differentiation. The company through this measure wants to gain competitiveness.

Spain’s Government Approves New Rules to Help Struggling Companies

In order to better the plight of struggling companies in Spain, the government has approved a new rule on Friday. The move is solely intended to help companies cut debt and avoid bankruptcy as the country has already begun to show signs of economic recovery.

The rules will make it easy for companies to get loans by making it harder for small creditors to veto deals. Also, it has devised a mechanism for creditors to write off part of a borrower's debt.

Updates to Apple’s iWork Applications Simplify Document Work

There is no doubt that Microsoft's Office is the go-to software package for documents' sharing and creation, spreadsheets and presentations. A good and free alternative for lightweight tasks is Google's Docs. However, Apple's iWork has been often overlooked.

For the first time after 2009, Apple did a major update to iWork applications for the Mac last fall. The application under focus is Pages for word processing, Numbers for spreadsheets and Keynote for presentations. These applications have become much better and simple to use with iPhone and iPad versions now.

Telefonica Approves Corporate Restructuring

Aiming to simplify the operations and increase the revenue, Spanish telecommunications giant Telefonica has given a green signal to a corporate restructuring. Telefonica's board has approved the restructuring on Wednesday.

As the company plans to continue with its cost-cutting planning, it is going to strengthen the role of chief global resources officer. The company wants to achieve gross savings of 1.5 billion euros in near future.

Acciona to Sell Minority Stake in its International Renewable Energy Portfolio

Acciona wants to sell a small stake of its foreign renewables business. The company has announced that it has been getting a number of offers for the stake.

Acciona has hired Lazard to find a buyer for up to 49% of its wind power assets outside Spain. Main aim of the sale is to raise capital. The company has witnessed a full-year net loss for the first time due to cuts on green energy subsidies in Spain.

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