Barney Jopson

Governor Mário Centeno faced questions over whether his conduct presented a conflict of interest with institution’s independence

Also in this newsletter: Why EU money is being spent on peddling fascist memorabilia

Zara owner Inditex has reported a slowdown in sales growth that underscored concerns about weakening consumer spending in the fashion sector. In addition to shaky consumer sentiment, analysts had expressed concern that Inditex sales would be hampered by warm weather in the key southern Europe region stopping people switching to winter purchases. Inditex operates in more than 90 countries, but its biggest market is still Spain — where the company started as a family-run workshop in the 1960s — which last year held more than 1,200 Inditex stores and brought in 14 per cent of sales.

Government says move is intended to provide ‘shareholding stability’ after Saudi sovereign wealth fund builds stake

The 230-tonne metal cylinder emits a roaring hum as it spins at 600 revolutions per minute, driving a pump buried underground that brings new meaning to the idea of pushing water up a hill.

Cryptocurrency launched by OpenAI's Altman is drawing scrutiny from regulators.

Democratic Alliance leader set to head fragile minority administration after refusal to include far-right

EU leaders urge Athens and Madrid to donate shipment as Kyiv’s need is greater than theirs

Socialist PM angered by opposition attacks on wife over corruption allegations

Spanish group Puig is aiming for top-of-the-range €14bn valuation when it lists this week