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Mercadona supermarkets in Spain to pay staff an inflation-matching wage increase

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THE Mercadona supermarket chain is set to give its entire workforce a 5% pay rise on January 1.

Spain’s biggest private company is the first major firm to guarantee its staff of 93,000 can keep up with rising inflation rates.

Company sources told the Expansion newspaper this Thursday the rise will be based on the Consumer Price Index.

Inflation for November stood at 5.6%, the highest level since September 1992 due to price rises for power and food.

The Valencian-founded supermarket has a reputation for good staff relations and treatment.

All employees are taken on a fixed contract and bonuses were paid for their efforts during the COVID pandemic.

A Mercadona source told Expansion: “As of today we cannot guarantee that the CPI increase will be 5% at the end of the year.”

“What we can say is that Mercadona, as it has always done, is going to increase the salary of its workers according to the accumulated CPI. at the end of the year.”

It is our responsibility as a socially responsible company to continue applying initiatives to satisfy the people who make up our staff,” the source added.

Mercadona recorded profits of €727 million for 2020, a 17% rise on the previous year.

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How Spain Compares To The Rest Of The World Over Fighting Corruption – Olive Press News Spain

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THE image of how tough Spain is on corruption has barely changed in a year, according to the 2021 Corruption Perception Index(CPI). The CPI, published on Tuesday and compiled by Transparency International, is a highly-regarded global measure of anti-corruption efforts. It ranks 180 countries and territories by their perceived level of public sector corruption. Each country’s score is a combination of at least three data sources drawn from 13 different corruption surveys and assessments. These sources are collected by a variety of reputable institutions, including the World Bank and the World Economic Forum. Transparency International point out they have no control whatsoever over the figures. The results are given on a scale of 0 (highly corrupt) to 100 (very clean). The 2021 Index shows Spain scoring 61 compared to joint-leaders Denmark, Finland, and New Zealand with an 88 rating. Spain got a 62 rating in the 2020 study. At the other end of the scale, South Sudan props up the bottom with 11, followed by Syria and Somalia on 13. Spain comes 34th in the table of 180 countries, down by one place on the 2020 Index. It’s 14th among the 27 EU member states. An Transparency International Spain spokesman said that a country like Spain that is ‘among the world’s top 15 economies’ should not be scoring below 70 in the Perception Index if it ‘wants to maintain its image and competitiveness’. READ MORE: A Wasted Decade: How political corruption robbed Spain of success with renewable energiesCORRUPTION SWOOP: High-ranking politicians arrested in Spain’s Valencia on charges of accepting bribes in exchange for public contractsFormer police boss Jose Villarejo facing jail term for ‘running 20 year spying and corruption operation’ that implicated Spain’s…SPECIAL REPORT: How €680 million of Junta de Andalucia cash was embezzled in ERE scandal, Spain’s biggest EVER public…

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Spain announces crackdown on cryptocurrency adverts that ignore investor risks

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SPAIN is clamping down on the advertising of unregulated cryptocurrency investments.

Concerns about investors being ripped-off by bogus claims have prompted a new rule that obliges all crypto advertisements in the country to carry a warning from February 17.

The CNMV, the government agency that regulates securities markets in Spain says that the following disclaimer has to be published in adverts: “Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost.”

Adverts will also have to be ‘clear, fair, and balanced and non-misleading’ according to the CNMV.

The measure is part of a package designed to regulate the sector in Spain and is seen as ground-breaking in Europe.

The rules require digital asset service providers, including social media influencers who are paid to promote crypto, to notify the CNMV about advertising content and to issue the disclaimer about the risks of investing.

Crypto service providers looking to reach 100,000 or more people will have to submit details of adverts at least ten days ahead of publication for approval.

Two popular crypto exchanges, Houbi and Bybit, had warnings issued about them last summer because they were operating without a licence.

The CNMV even took to Twitter in November to rebuke Spanish footballer, Andres Iniesta, who used the social media platform to say he used the exchange firm, Binance.

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Advert disclaimer

Spain announces crackdown on cryptocurrency adverts that ignore investor risks

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SPAIN is clamping down on the advertising of unregulated cryptocurrency investments.

Concerns about investors being ripped-off by bogus claims have prompted a new rule that obliges all crypto advertisements in the country to carry a warning from February 17.

The CNMV, the government agency that regulates securities markets in Spain says that the following disclaimer has to be published in adverts: “Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost.”

Adverts will also have to be ‘clear, fair, and balanced and non-misleading’ according to the CNMV.

The measure is part of a package designed to regulate the sector in Spain and is seen as ground-breaking in Europe.

The rules require digital asset service providers, including social media influencers who are paid to promote crypto, to notify the CNMV about advertising content and to issue the disclaimer about the risks of investing.

Crypto service providers looking to reach 100,000 or more people will have to submit details of adverts at least ten days ahead of publication for approval.

Two popular crypto exchanges, Houbi and Bybit, had warnings issued about them last summer because they were operating without a licence.

The CNMV even took to Twitter in November to rebuke Spanish footballer, Andres Iniesta, who used the social media platform to say he used the exchange firm, Binance.

READ MORE:

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