Spain basketball great Gasol to suit up for Madrid bid

August 28, 2013

Credit: Reuters/Susana Vera MADRID | Tue Aug 27, 2013 5:34am EDT MADRID (Reuters) - Spain's economy shrank 1.6 percent in 2012, versus the 1.4 percent contraction previously recorded, according to revised historical gross domestic product data from the country's National Statistics Institute (INE) released on Tuesday. The changes will affect comparisons to 2012 on a quarterly basis, INE said, and in particular comparisons with the second quarter of 2013. That data is due on August 29. The GDP figures for 2011, 2010 and 2009 were also revised, though only the 2009 revision is definitive. Spain's economy grew only 0.1 percent in 2011 compared to the 0.4 percent previously stated, INE said. (Reporting by Sarah White, Editing by Julien Toyer) Tweet this

The 33-year-old Los Angeles Lakers center - silver medalist in 2008 and 2012 and the country's flagbearer at the latter opening ceremony - will act as spokesman for Spain's athletes at the final presentation to the 100+ International Olympic Committee (IOC) members in Buenos Aires on September 7. Madrid, third and second for the hosting of the 2012 and 2016 Games respectively, are up against Istanbul and Tokyo, the only one to have previously hosted the Games in 1964. "The Olympic Games are more than sport - I know this personally as an Olympian. Spanish sport and the people of Madrid need the boost the Olympic Games would provide, and Madrid is ready to face this challenge," said the Barcelona-born Gasol, who has won two NBA titles with the Lakers. "But Madrid will also give something back to the Olympic Movement - we are a city that is prepared with a responsible bid plan that will help develop sport far into the future", he added.

Spain’s tomato festival charges entrants for first time

Some sectors are particularly punished by the crisis and simply dont have any more capacity to absorb people, Sebrango said. People opt for creating a business because its too difficult for them to find work with another company, or because wages are falling or they cant move to another place. At La Infinito in central Madrid, Perez said she felt angry and hurt when she lost her job with the daycare center run by the Leganes municipality on the outskirts of the Spanish capital as it cut spending. Then the Rojas familys TV antenna business folded around the same time. Busiest Square The couple set up the cafe in the hilly, narrow streets of Madrid a 10-minute walk from Puerta del Sol, the citys most central and busiest square. They reckoned a small eatery was the quickest, most feasible way of making a living while doing something that interests them.

JPMorgan's former 'London Whale' supervisor arrested in Spain

The festival costs over 100,000 euros to put on, but official figures reveal that local councils had debts of over 40 billion euros at the end of last year. "The Tomatina costs us about 150,000 euros, so with the new entrance tickets we will more or less cover our costs," said Rafael Perez, the local councilor in charge of the festivities. "Everyone is doing badly at the moment," Perez added, but insisted the festival could still be financed without entry tickets if necessary. Tourism company SpainTastic is selling 5,200 tickets to the event, while a further 9,800 were distributed between 20 subcontractors. Tour company Festivals All Around is also offering an 80 euro package deal to the festival, which includes entry to an after-party and a t-shirt.

Start-Ups Fill Void Left by Spain’s 26% Unemployment Rate

Credit: Reuters/Shannon Stapleton By Sarah White and Carlos Ruano MADRID | Tue Aug 27, 2013 2:16pm EDT MADRID (Reuters) - Spanish police arrested former JP Morgan Chase trader Javier Martin-Artajo on Tuesday as he prepares to fight possible extradition to the United States over a $6.2 billion financial scandal at the United States' largest bank. The arrest came after the United States charged Spaniard Martin-Artajo and a junior colleague, Frenchman Julien Grout, with wire fraud and conspiracy to falsify books and records related to the trading losses, which were executed by Bruno Iksil. Iksil, who was nicknamed the "London Whale" for his large bets on derivatives markets, is cooperating with U.S. prosecutors and has not been charged. Martin-Artajo was released on condition he stays in Spain and checks in regularly with a court.

Spain eye Koke, consider Diego Costa

Eurosport Alonso, who missed the Confederations Cup in the summer after groin surgery, has recently had to go back under the knife after suffering a fractured metatarsal. Bayerns Thiago, meanwhile, joins the main page Real Madrid trading man on the sidelines for a number of weeks, after damaging ankle ligaments at the weekend and also requiring surgical intervention. The duo are ruled out for La Rojas next four games in September and October, whilst for next months fixtures with Finland and Chile, Vicente del Bosque is also expected to be without Javi Martinez, through an abdominal injury. Subsequently, it is believed that the head Coach is considering Koke for a second call-up to the senior squad. The Atletico Madrid man was included in Del Bosques experimental squad to face Ecuador in mid-August and debuted from the bench in the second half. AS believe that the 21-year-old and club colleague Mario Suarez, who debuted for Spain in February, are favourites to make Fridays squad announcement, alongside Athletic Bilbao s Benat Etxebarria.

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