money

Football has become the anchor of operator subscriptions. And LaLiga is making more money than ever

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It is not necessary to consult reports to understand that, for many, life has become more expensive faster than salaries. Many of us check this when making a purchase, looking for a home or renewing insurance. Even so, there are few consumer decisions that endure as much as football. Not only do we continue to see it, but it is more present than ever in the television packages, in the bars, on the platforms and in the subscriptions we take out. This prominence is not only reflected in the way we consume it, but also in how it is valued as a product. LaLiga, the organization that manages professional competitions in Spain, has awarded the domestic audiovisual rights for the new cyclewhich will cover from 2027/28 to 2031/32. The result marks a historical maximum: 6,135 million euros, 9% more than the previous cycle. Telefónica and DAZN will repeat as partners, ensuring the broadcast and exploitation of the content for five more seasons. Where do the 6,135 million come from? The record figure is not explained only by households, but by the diversification of the product. The residential block represents 5,250 million euros, but the segment HORECAwhich includes bars, public premises and hospitality establishments, is close to 650 million. LaLiga Hypermotionwhich is the Second Division and takes its name from the Hypermotion technology used in soccer video games, contributes about 175 million. Added to this are more than 60 million in open rights and summaries. Football is no longer sold in a single format. Football as an anchor for subscriptions. For streaming operators and platforms, football has become the product capable of sustaining their business models. It’s no longer just about gaining users, as PwC warns and Simon-Kucher Consultingbecause the market is beginning to show clear signs of saturation, but of obtaining more income from each subscriber. And there football is decisive. Telefónica, with Movistar Plus+, and DAZN have opted to maintain the rights because it allows them to maintain customers, justify prices and build packages that cannot be understood without this content. That football continues to be part of our social life is reflected in the figure for the HORECA segment: close to 650 million euros, compared to 500 million in the previous cycle. The bars and restaurants that hire the service not only offer the content, they offer a place to experience it in company. LaLiga knows that the value is not only in the broadcast, but in the environment that accompanies it. Second division, HYPERMOTION brand and added value. With Hypermotion, LaLiga has turned its Second Division into an audiovisual product with its own entity. Not only does the name change: the way of presenting and exploiting it changes. This block, as we say, will contribute around 175 million euros, 40% more than in the previous cycle. The crusade against illegal emissions. Part of the increase in value is explained byLaLiga’s crusade against illegal broadcasts. The organization has intensified control over platforms that distributed content without authorization, with legal actions that have generated debate, like the case of Cloudflare. Javier Tebas defends that this strategy It has allowed “increasing the number of operators’ users” and reinforcing confidence in the product. It has not been without controversy, but LaLiga maintains that it has had a real impact on the market. The agreement not only brings income, but also time. LaLiga points out that a five-year cycle offers clubs and operators sufficient margin to plan, renew contracts, invest in technology and reinforce the audiovisual structure. By bringing forward the trend and detaching it from the new UEFA framework, the competition avoided the negative effects that other European leagues have faced. The message we want to convey is stability, legal security and continuity of the model. What does all this mean? This model has a direct link with consumer habits. Increasingly, platforms are designing their packages thinking about who is willing to pay more for certain content, and football fits into that category. It doesn’t just attract users, it retains them and gives them reasons to stay. This behavior explains why football maintains its central position in the catalog and why companies consider it a strategic piece. Images | LaLiga In Xataka | The NFL was going to place the Bernabéu in the center of the United States. Americans have not been impressed

OpenAI needs a lot of money. And to keep giving it to them, they are promising things that cost even more money.

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That OpenAI is in trouble is something we’ve been talking about from long agobut the last few weeks have aggravated the situation even more if possible. The company continues burning money like there’s no tomorrow and the income does not match. OpenAI needs investors and to justify those investments it needs to diversify into new markets. It’s going to be very difficult. The problem. On the one hand we have an OpenAI that dominated the AI ​​chatbot market with ChatGPT, but no longer enjoys the technological advantage it used to. Sam Altman himself acknowledged in an internal email that Google was technologically catching up with them with Gemini 3 and user figures indicate that Gemini is getting dangerously close, with 650,000 monthly users in front of the 800,000 weekly ChatGPT users. Losing the market leadership they themselves created would be a serious problem, but unfortunately for OpenAI, it is not the only one. The other problem. OpenAI’s spending projections for the next eight years are $1.4 trillion, said by Sam Altman himself. Let’s pause: 1.4 European billion, that is, 1,400,000,000,000. Thirteen figures, that’s nothing. To justify those astronomical investments, Altman talks about getting into robotics, cloud computing services and the highly anticipated (although nothing concrete) personal device designed by Jony Ive and which It will be “the iPhone of AI”. It sounds good, the problem is that at the moment OpenAI does not have the infrastructure and it does not say how it plans to compete in these markets. The OpenAI business. The barrier to entry to create an AI chatbot in 2022, when ChatGPT came out, was much lower than that presented by the sectors with which OpenAI is flirting. In the Wall Street Journal newsletter They point out something key: they are markets with fierce competition and huge companies that have been well established for years. Let’s look at the panorama they face: Robotics: Humanoid robots are still a developing segment and we have doubts that it becomes mainstreambut already There are many companies competing to put a robotic butler in our home. That OpenAI would manufacture its own robots seems completely unlikely because they do not have the infrastructure and it would cost them a fortune, something they do not have. The most feasible scenario would be to work with a robotics company to integrate their AI. In the United States it would have to compete with Figure and Tesla, both with their own AI. In China, with Unitree and Deep Robotics. Complicated. Cloud computing: getting computing power is another of OpenAI’s problems and the center of its multi-million dollar deals with amazon, NVIDIA either amd to mention a few. Setting up your own business in the cloud would mean competing with giants like Microsoft, Google or Amazon, who are also your own partners and you need them. Not to mention that Personal devices: It is the sector in which they have a more concrete plan, and yet we hardly know anything about this supposed “iPhone of AI”, a device so revolutionary that the smartphone would be a thing of the past, or so Ive and Altman said. We have not seen a single image of the device and the project has been delayedbut assuming OpenAI ends up launching it, it has the difficult task of convincing the world that it is better than a smartphone. Humane didn’t make it. For now it works for them. In October OpenAI closed a share sale that raised its valuation to $500 billionmaking it the most valuable startup in the world. It is an astronomical figure especially considering that the company’s expenses are also astronomical; only in the last quarter They lost a whopping 11.5 billion dollars. Investors have remained confident until now, the question is how long the party will continue. OpenAI needs it to last several years to be able to have that business that is going to cost 1.4 billion to build. Images | Wikipedia In Xataka | We have reached a point where not even the CEOs of Google or Microsoft deny that we have an AI bubble

there is more money in less time and too many eggs in few baskets

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The expectation and unbridled optimism about the AI ​​revolution is giving way to a stage of nervous laughter. The question It is no longer whether there is an AI bubblebut when it will explode and what impact that explosion will have. It is inevitable to compare this situation with the one we experienced with the rise of the internet and the dotcom bubble, but this is even worse. Dog years, mouse years. Vinton Cerf, one of the fathers of the internet, spoke in 1999 how “a year in the internet business was like a dog year, that is, seven years in the life of a normal person.” Everything was going very fast then, but now it is spoken of “mouse year”: each of them would be equivalent to about 35 human years. In AI everything certainly goes much faster, and that is very, very dangerous. Stock market crashes don’t help. Until a month ago, the extraordinary optimism that existed in this market had caused the big technology companies to continue growing on the stock market while the rest of the economy barely did. NVIDIA has been the best example of this, but in the last month a good handful of technology stocks have fallen. NVIDIA itself, (-4%), Microsoft (-10%), Meta (-20%), Amazon (-2%), Broadcom (-4%), Oracle (-30%), AMD (-20%), Intel (-10%). Only Google (+15%) and Apple (+3%) seem to resist this downward trend. The bubble is huge. The last estimates for capital expenditures (capex) added to the investments of venture capital already exceeds 600,000 million dollars by 2025, and the consulting firm Gartner indicated that according to its data in 2025, spending related to AI will amount to 1.5 trillion dollarswhen in 2024 it was 988,000 million. By 2026, it is estimated that it will exceed two trillion dollars. And it has grown much faster. As explains Analyst Fred Vogelstein, that spending “is happening in a fraction of the time. The internet bubble inflated for 4.6 years before bursting. The AI ​​bubble has inflated in two-thirds of that time.” The numbers continue to grow without stopping, they get bigger and they start to make no sense. And when they don’t make sense, they probably don’t really make sense. Too much concentration. There are differences between this bubble and the dotcom bubble. For example, much of the gigantic investment in data centers comes from technology companies themselves, and not so much from venture capital or investment firms. Even so, the concentration is enormous: Microsoft, Alphabet, Meta, Amazon, NVIDIA, Oracle and Apple represent approximately a third of the critical S&P 500 market, which was already aiming for it years ago, even before everyone started talking about AI. We have already seen this year how if technology companies fellthe economy suffered noticeably. This is not an investment, it is a bet. Companies like Microsoft, Alphabet, Meta or Amazon are talking about projected capital expenditures (capex) of $70 billion to $100 billion in data centers. These companies are risking everything on AIwhen at the moment there is no reasonable justification to do so because the uncertainty is total. The best way to understand that philosophy is to remember what Mark Zuckerberg said about his investment in AI: “We’re going to invest aggressively. Even if we lost a couple hundred billion dollars it would be a bummer, but it’s better than being left behind in the race for superintelligence.” Or what is the same: if you don’t risk, you don’t win. OpenAI, bubble paradigm. If there is a company that represents the AI ​​madness, it is OpenAI. This valued at 500 billion dollarsbut the company itself estimates that until 2029 you will not start earning money. It is estimated that its “cash burn” in 2025 will be $8 billion, and that in 2026 that figure will be $17 billion. It’s growing in revenue, yeahbut not at a sustainable pace at the moment. The accounts don’t come out, but the important thing for Sam Altman (and his investors) is that theoretically they will end up coming out. Or so they say. Source: Bloomberg. Circular financing. We are experiencing another warning sign with the recent circular financing agreements between big companies technological. In these alliances OpenAI and NVIDIA (among others) are becoming something like banks and investors that guarantee the demand for their products. This means that these companies will probably emerge stronger, but it also increases the systemic risk of this bubble burst. We are seeing it with Oracle, which issued $18 billion in bonds and has raised its total debt above $100 billion. Others are in a compromising situation also. Crazy reviews. And we have more disturbing warnings, of course. Among them, those that affect the multimillion-dollar investments and valuations that AI startups are receiving. Reflection AI, the company founded by two former Google DeepMind researchers, has raised 2000 million dollars in one round, while Safe SuperIntelligence, the startup created by Ilya Sutskever, is valued at 32 billion dollars without having any public product. It is estimated that there are 498 AI unicornsand it does not seem that the investment fever has stopped, as demonstrated by the interest in Yann LeCun’s imminent startup. Altman, Nadella and Pichai warn. Even the technological leaders They recognize that there are signs of a technological bubblealthough they do it with nuances. Pichai talked about observing “elements of irrationality”, and in that same vein they were Satya Nadella (Microsoft) or Sam Altman (OpenAI). Meanwhile, Robin Li, CEO of Baidu, explained months ago that we are facing a bubble that will make only 1% of companies survive. China. This excessive spending has also been helped by the rise of China in this area. The Asian giant has demonstrated its ability to develop open models extraordinary. The DeepSeek effect It caused companies in the US to add even more fuel (money) to the fire while China takes a position more conservative. Mastering AI is a major national security concern and that ties assessments to political and tariff unpredictability. Source: Financial Review … Read more

Congress will force Renfe to return the money for delays of 15 minutes. Renfe’s response: we’ll see

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Last year, Renfe expanded the strict criteria for returning money to its customers in case of delay. The measure came with controversy since these criteria had been applied since 1992 when the first AVE was launched. Almost 25 years later, the company relaxed these criteria to the point that two million passengers lost their money last year. Now, Congress forces Renfe to return to its previous criteria. But Renfe is not up to the task. When and how much money does Renfe return? Right now, to receive a partial payment for our ticket, the delay on the Spanish high-speed Renfe has to exceed 60 minutes. From 2024the company does not give half the money if the delay does not exceed one hour. In the event that we aspire to receive a full refund of the ticket, it will not arrive until we exceed 90 minutes. What has changed? Yesterday, November 13, The Congress of Deputies approved the Sustainable Mobility Law. It included an amendment from the Popular Party that returned the compensation that Renfe has to apply to those prior to the 2024 change. That is: Delays of more than 15 minutes: payment of 50% of the ticket Delays of more than 30 minutes: 100% payment of the ticket The change is substantial because this summer, four out of every 10 Renfe high-speed trains have arrived late. However, with the changes applied from 2024 they have been left without a refund around two million passengers. We’ll see. This is what the Ministry of Transport seems to say. And in statements to EFEsources from said ministry have described the amendment (which has been supported by Vox, Junts, ERC, Podemos and BNG) as “a demagogic operation and a toast to the populist sun.” Not only that, since The World They already state that Transport assures that they will look for “the legal formula to maintain the current system.” That is, the customer does not receive any refund for their ticket until after 60 minutes of delay. And that the total amount is not delivered until after 90 minutes. In the media they also report that Transport sources have indicated that the decision “only wants to penalize Renfe, a Spanish and public company, and not competing companies.” such as Ouigo and Iryo”, while highlighting that Renfe is a “public company that is fundamental to the structure of Spain”. In addition, Óscar Puente himself, Minister of Transport, has questioned the amendment. “Let’s see how it goes,” they say in The World who has responded about the new obligation. At a disadvantage? What Transport maintains is that the amendment promoted by the Popular Party puts Renfe at a clear disadvantage compared to Ouigo and Iryo. What the Government alludes to is that the reimbursement conditions by these companies are less favorable for the client, allowing them a competitive advantage. Ouigo compensates in the following cases: Delay of more than 30 minutes and less than 60 minutes: 50% refund of the ticket in a non-refundable purchase voucher. Delay of more than 60 minutes and less than 90 minutes: 50% refund of the ticket in a refundable purchase voucher. Delay of more than 90 minutes: 100% refund of the ticket in a refundable purchase voucher. Iryo partially or totally refunds the money in the following situations: Delay of more than 30 minutes and less than 60 minutes: refund of 50% of the ticket in purchase voucher or cash. Delay of more than 90 minutes: 100% refund of the ticket in purchase voucher or cash. Competence. What the Ministry of Transport points out is that this puts them at a disadvantage compared to the competition because Renfe adapted its compensation criteria to formulas similar or equal to those offered by its competition. However, the amendment introduced in the Sustainable Mobility Law only toughens the criteria for Renfe. It must be taken into account that the company has been around for more than a year experiencing a punctuality crisis. Although the Government points out that its punctuality is among the best in Europe, criticism has surfaced because trains that do not arrive on time have multiplied. Of course, when sharing roads with Ouigo and Iryo, it may be the case that a road blockade due to a breakdown of the latter ends up causing a delay in times when Renfe does have to return 100% of the ticket and its rivals will only deliver half of it. Photo | Carlos Teixador Cadenas in Wikimedia and Congress of Deputies In Xataka | If the summer has taught us anything, it is that Spain does not need more trains. You just need them to work.

If you bought your house before 2013 and paid off the mortgage with its sale: The Treasury owes you money

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If you bought your house before 2013 we have good news for you: now you will be able to recover up to 1,356 euros on your tax return thanks to an important change in the way in which the Treasury recognizes mortgage deductions. If you used the money from the sale of your home to pay what you mortgage pendingthis change in Treasury doctrine can directly affect you. The new resolution of the Central Economic-Administrative Court (TEAC) opens the door for thousands of taxpayers to review their statements from recent years and request returns that they couldn’t ask for before. An opportunity to save on rent. The Central Economic-Administrative Court (TEAC) has dictated a change of doctrine in a resolution in which he has clarified that, if you use part of the money from the sale of your house to pay off the remaining mortgage, you can also deduct that amount on your income tax return. This changes the way the Treasury saw things until now and may mean recover more money on your taxes. Previously, you could only deduct mortgage payments while you lived in the house and owned it. If you sold the home, you lost the deduction from the day of the sale, even if you used part of the money to pay off the mortgage. An example to understand it easily. The TEAC resolution has been based on the binding consultation of a taxpayer from Santa Cruz de Tenerife, so his case can serve as a practical example. This taxpayer sold his home in June 2018 and used 10,202 euros of the amount obtained from the sale to pay off the mortgage. At that time, the Treasury only allowed him to deduct the installments paid until May, the month before the sale of the home, because the cancellation payment for the same, although it is part of the investment in that home, was no longer counted because it was no longer his property. With the new TEAC criteria, this cancellation with the money from the sale can also be deducted and therefore the excess withholding in personal income tax that was not previously recognized can be recovered. This represents a real change for those who have sold their house and paid off their debt with the money from the sale, since their right to the deduction does not disappear the day they sell the house, but remains in force as long as they use that money to pay the cancellation of their mortgage. Conditions to access the deduction. As and as they remember in IberleyIn order to benefit from this deduction, a series of conditions must be met. The first condition is that the home had to be your habitual residence until the moment of selling it. The second condition is to have purchased that home before 2013 and to have applied the personal income tax deduction prior to its sale. The maximum base for calculating the deduction is 9,040 euros per year, and the Treasury allows you to deduct 15% of what you pay for the loan. That leaves a maximum deduction of 1,356 euros per year which, if you had not applied it after the sale of the home, you can now claim if applicable. Review of declarations from 2021. From Idealistic stand out that, although this deduction is only for those who bought before 2013, those taxpayers who have sold their home and canceled the mortgage since 2021 can review their returns to see if the personal income tax deduction was correctly applied, including that final cancellation amount. This means that there may be pending returns for those who did not claim it at the time and meet the requirements in the years between 2021 and 2024, as long as their term has not expired. In Xataka | Just in case Madrid had few problems with housing, now it adds one more: US millionaires investing in the city Image | Wikimedia Commons (Jordiferrer, Ruth Leong)

neither saves money nor saves resources

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The rejection of the new Coca-Cola’s AI Christmas ad It has been basically unanimous: although their bet has technically and visually improved the very promising 2024 bet, the complaints are no longer about the theoretical as much as about something more intangible. An advertisement that appeals to traditional and artisanal things should not be made with a tool that ignores human creativity. Or has it not been like that? Some recent data that has come to light after the first negative reactions casts doubt on whether it was just a matter of pressing a button for an ad to appear. The announcements so far. In November 2024, Coca-Cola became the internet’s quintessential corporate villain. Its Christmas ad was recreated with artificial intelligence the iconic ‘Holidays Are Coming’ spot from 1995and was received with a wave of criticism, especially for its multiple errors: rigid truck wheels, faces of people frozen in an inhuman rictus… Artists such as Alex Hirsch, creator of Gravity Falls, dedicated to the corporation such strong phrases like “Coca-Cola is ‘red’ because it’s made with the blood of out-of-work artists.” A year later, Coca-Cola does not back down, but launches a new version of the advertisement, more technically advanced and starring less risky entities: anthropomorphized animals. Pratik Thakar’s quoteglobal vice president and head of generative AI at Coca-Cola, “the genie is out of the bottle and no one is going to put it back in,” has become a symbol of these new times. No matter how much these types of decisions are criticized, the savings in energy and personnel are so significant that these types of changes are here to stay. Or not? Less effort? There are some figures, made public by Coca Cola itself and by Jason Zada ​​of Secret Level (the company that developed the ad) that cast doubt on the effectiveness of the entire effort. For example, it took approximately 70,000 AI-generated video clips before arriving at the final result of 60 seconds. Behind them, an army of professionals: approximately 100 people distributed between Coca-Cola, the WPP agency, and the Silverside AI and Secret Level studios. And among them, at least 5 AI specialists worked specifically on technical refinement and content generation. Zada talks about a direct team of 20 people dedicated to this announcement. It is not a revolution in efficiency, but an amount comparable to that of any traditional animation spot. The difference: no physical equipment, locations or cameras were needed, but all the usual production apparatus in this type of ads: creative direction, design, narrative construction, artistic supervision… Zada ​​states that there is “a lot of human craftsmanship involved. Hand-drawn character designs, world-building… it’s not just about writing words and pressing buttons.” The paradox of money. If we talk about video generation tools like Sora, Runway or similar, each clip has an associated cost. Multiplied by 70,000 generations, the expenditure on server infrastructure, processing and rendering time reaches considerable figures. To this we must add the cost of a hundred people working for approximately a month (this is what Coca-Cola claims is an advantage in terms of time, compared to the several months that traditional production would require). We don’t know how much the ad cost, but Manolo Arroyo, the company’s marketing director, is limited to stating which was “cheaper and faster than traditional methods” But the important thing here, perhaps, is not how much we save in money, but… is that saving worth the reputational cost? What is the difference. The type of work, not the amount. Where a traditional studio would spend weeks on 3D modeling and animation, this project invested that time in a process of mass video generation, selection and refinement. Instead of building a 3D model of a herd of seals and animating them, the team generated thousands of different versions of seals until they found the ones that worked. And then, and here is the key, it is able to multiply the result. Zada says, “We could create a 90-second version in addition to the 60-second spot, and a custom version. We couldn’t do that without the efficiencies of AI.” That’s the secret: not to do the same thing cheaper, but to do more things with the same budget. Coca-Cola doesn’t save money, it redistributes it. Instead of one definitive version of the ad, they got multiple versions tailored to different markets. Instead of investing in filming equipment and physical locations, they invested in management capacity and immediate multiplication: the industrialization of factories that we experienced at the beginning of the last century is now the industrialization of content. The genie in the bottle. Generative artificial intelligence is already part of the daily life of audiovisual production. And the controversial Coca-Cola ad exemplifies what companies want to get out of this new situation: it is not just about greater speed, or saving money, something that we already see is not being achieved, but rather a commitment to the future, perhaps to a different economic model, perhaps to some spots that are still to come, indistinguishable from those made in a traditional way, and that do not unleash the pejorative comments that, for the moment, these ads made with AI are collecting. In Xataka | The “divorce” between Coca-Cola and Nestlé leaves a big question: who owns the “formula” of the soft drink

That Instagram and Facebook are plagued by fraudulent ads is bad. That Meta is making money with them is even worse

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Congratulations! You have won an iPhone. the king Felipe VI announcing investments. Work at Primor and get paid up to 160 euros per hour. These are just three examples of fraudulent ads that have appeared on Facebook and Instagram, but there are many more. So many, that Meta is making money with them. What has happened? An investigation of Reuters has revealed that Meta estimated that 10% of all revenue volume would come from fraudulent ads, which would total $16 billion. In an internal document from December 2024, Meta estimated that its platform serves about 15 billion “high-risk” scam ads every day. By “high risk” they mean those that are clearly frauds, like those we mentioned in the introduction, so the real number would be even higher. It seems like fraud, because we charge you more. Meta has automated systems to detect these types of ads, the problem is that the policy to block them is quite lax. The documents reveal that ads are only blocked if the system identifies it as a scam with 95% certainty. If the percentage is lower, what they do is raise the advertiser’s fee to supposedly discourage them. That is, if they continue to advertise, Meta makes even more money from frauds. The favorite site of scammers. There is more. In another document, Meta admits that “It is easier to advertise scams on Meta platforms than on Google.” The information comes from channels in which scammers discuss their methods, although they do not specify the reasons for their choice. They also estimate that a third of all successful scams in the United States occur through their platforms. Regulation. Meta is in the crosshairs of regulators around the world. The European Commission initiated action against the company for the use of data to serve advertising to users. In United Kingdom took them to trial for the same reason and more recently the United States Securities and Exchange Commission is investigating them for the financial frauds advertised on their platform. In documents published by Reuters, Meta shows its intention to reduce illegal ads, but is concerned that a sudden reduction would negatively affect its revenue. Don’t touch my publi. Meta is in a delicate moment for the huge increase in spending on AI which, despite having achieved positive results in the last quarter, has caused its shares to fall 8%. Considering that targeted advertising is Meta’s main revenue stream, a reduction on this front could shake the entire house of cards. Meta responds. Speaking to Reuters, a Meta spokesperson criticized the news, saying the documents “present a selective view that distorts Meta’s approach to fraud and scams.” He says the estimate of 10% profit from scam ads was excessive and the actual figure was much lower, although he declined to give an updated figure. According to Meta, in the last year and a half, fraudulent ad notices have been reduced by 58% and in 2025 they will have eliminated more than 134 million scams from their platform. Image | Generated with AI. background Pixabay In Xataka | The majority of medical discharges that are investigated are fraud. The nuance is that they are only investigated if there are signs of fraud

who is making money with the elimination of the DGT triangles

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January 1, 2026. That is the key date. The day from which It will be mandatory to use a connected V-16 light to signal a breakdown on the road. Not only that, that day we will say goodbye to emergency triangles. Because those who use them will be exposed to a fine. The decision, confirmed in 2021, continues to raise controversy with just a few months left to fully implement it. Until now, the V-16 light could replace emergency triangles, which were no longer mandatory on highways and expressways. However, it will be from January 1 of next year when not only will they not be mandatory, they will also be prohibited. How did we get here and why? The new regulations The change is very simple. The emergency triangles that have accompanied us until now will be prohibited from January 1, 2026. The Royal Decree 159/2021published on March 17, 2021, modified annex XI of the General Vehicle Regulations. It specifies all the changes that must be taken into account when having an approved light and how to act with it. From then on, every driver must have a V-16 signal connected which, in general terms, must comply with the following requirements: Radiate light 360 degrees Maintain irradiation intensity for at least 30 minutes Protection degree IP54 at least Guaranteed operation between -10ºC and 50ºC Powered by cell or battery that must guarantee its operation for a minimum of 18 months Guaranteed connectivity for at least 12 years, to notify the DGT when the device is activated. If you have any doubts about whether or not the purchased device is approved by the DGT, the entity has a list in which all devices are included who have passed the homologation exam. The real change, as we say, is that the DGT makes the use of this system mandatory and, in addition, bans emergency triangles. He assures that placing triangles on the road increases the risk of being run over and, therefore, it is better to use a light that should be placed on the roof of the vehicle to warn other drivers. In the case of a motorcycle, it must have an adapter to position it on the handlebars. Yes indeed, the DGT makes it clear that the motorcyclist is not obliged to have this device. However, those who use the triangles face a fine of 80 euros (a minor offense for “not properly signaling the obstacle created on the road in the event of an accident or vehicle breakdown”, as stated in article 130 of the General Traffic Regulations) and, in addition, those who do not have a connected and approved V-16 light (those not connected are valid until December 31, 2025 but not from January 1, 2025). next year) can also be fined 80 euros as is the case until now with triangles. How did you get here? This is one of the questions that has raised controversy. And Spain is the only country in Europe in which these V-16 lights will be mandatory. What happens if we have to travel outside our borders? If the country has a full agreement with Spain, V-16 light is perfectly valid but if it does not have it, we will have to count on the triangles to be able to indicate an emergency. In any case, Spain being the only country where it is mandatory, it is recommended to carry emergency triangles if you leave our borders. The DGT assures that, however, the measure was necessary because installing the triangles on the road means too much risk to the passengers of a disabled vehicle. According to the data provided with the presentation of this V-16 beacon, between 2018 and 2021 they died every year between 18 and 22 people run over on the road after getting out of a vehicle and In 2022 there are 58 deaths. Of course, the agency does not specify whether these attacks were caused by the installation of the triangles or for any other reason. In fact, the DGT has recently changed the regulations. From 2023 It is mandatory to stay off the road in a place away from traffic whenever possible. However, if there is no space, passengers in a disabled vehicle no longer have to wait outside the vehicle; it is now mandatory to sit inside with the seat belt on. The V-16 light, they say, allows you to signal the vehicle without having to get out of it, just by putting your hand out of the window and placing it on the roof. When activated, the beacon begins to emit a light signal that must be seen from a kilometer away. It automatically contacts the DGT 3.0 platform which will send the information to the means closest to the incident, such as the light panels, to notify the rest of the drivers. Furthermore, the signal itself will broadcast information to connected vehicles to circulate in the vicinity, alerting them that they will find a broken down vehicle on the road. It’s the call signal V-27 that will appear on the car’s instrument panel and is made up of a red triangle with an exclamation mark inside and three curved lines on the outside to mark connectivity. Of course, the beacon does not connect directly to emergency services. This task is left to the drivers, who have to call to convey their situation and what happened. Also your insurance if it is necessary for the car to be towed by a tow truck. The money We have already seen the arguments of the DGT but… how much is it going to cost us in our pockets? Right now, the connected and approved V-16 lights are selling for around 50 euros. This money includes data service for a minimum of 12 years. Of course, we must keep in mind that they also require minimal maintenance. The agency recommends changing the battery or fully charging the battery every year. A problem that, obviously, emergency triangles … Read more

Something big is coming in European money. The ECB has set a date for a key step towards the digital euro

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The European Central Bank has made a move in one of the most sensitive projects in its recent history. After two years of preparation, the organization has decided to move on to the next phase of the digital eurothe initiative with which it seeks to adapt public money to the era of electronic payments. It is not a launch, nor a final decision: if the European regulations are approved in 2026, there will be a pilot starting in 2027 and the Eurosystem wants to be ready for a possible first emission in 2029. The decision comes after a preparation stage started in November 2023in which the ECB and the national central banks defined the technical and operational pillars of the project. In these two years, progress was made in the draft of the operating regulations, in the selection of technological suppliers and in tests with market participants. Political momentum has also been key: euro leaders called at the October 2025 summit to accelerate work to ensure that Europe retains its own capacity in digital payments. A pilot to get out of paper. The announced step opens a phase aimed at validating that the system can work in practice, both from a technical point of view and from real use. The ECB talks about a pilot in which Banks, technology providers, businesses and consumers would participate, with tests on payments in everyday situations and security controls. The objective is to verify that the digital euro, if it exists, can operate reliably and offer a simple experience for the user. Despite the progress, this does not mean that the digital euro is ready for launch or that it will replace paper money. The institution emphasizes that the cash will continue to exist and that the project requires legislative support before any final decision. Furthermore, it is neither a decentralized token nor an experiment to displace the banking sector. The proposed architecture, they assure, maintains banks as the main access and operation channel for citizens and businesses. Three points before starting. The digital euro roadmap is supported by three conditions: legislative progress, technical validation and the formal decision of the ECB later. The European Regulation will establish the rights, limits and obligations of the system, including the way in which financial institutions participate. In parallel, the architecture will be deployed in modules to adjust development as results are obtained. Nothing in this phase implies committing unlimited resources or guarantees the final emission. A project that still needs to convince. Initial support for the digital euro is not homogeneous across Europe. In Germany, a survey prepared for the Bundesbank In April 2024 it showed that half of citizens “could imagine using it” and that 41% already knew about the project. In Spain, a study by Monitor Deloitte In 2024, it indicated that 61% would not adopt it for now, largely due to lack of knowledge and satisfaction with current methods. At European level, a survey published by BEUC In 2025, it indicated that privacy is a priority for 81% of those surveyed, along with security and the absence of commissions as essential elements. From now on, progress will be as technical as it is political. As we say, the ECB wants to have the pieces ready for a pilot in 2027 and to consider a possible initial emission in 2029, provided that the European regulation is approved and tests confirm its viability. The process will be gradual and reviewable, and therein lies its importance: Europe is preparing for an option that could expand its autonomy in payments Images | ECB | omid armin In Xataka | The world seemed unprepared for the end of cash. The digital euro makes it clear that yes

The largest Primark store in Spain is a money-making machine. It is so profitable that even Amancio Ortega makes money with it

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The Primark flagship store on Madrid’s Gran Vía is not only a place to buy cheap clothes, but it has become a monument in the city, both for its size and for the historic building that houses it. The flagship store of the Irish clothing brand has just completed its tenth anniversary active and leaves us with some really interesting figures and data. One of the most curious facts is who he is. really your home. It’s almost a cosmic joke. A historical and popular monument. According to data Provided by the brand itself, the Primark store on Gran Vía has a total area of ​​12,500 square meters, making it the largest of the group in Spain and possibly one of the largest in the world. With more than five million visitors a year, it is one of the most visited commercial spaces in Spain and a key point of Madrid commerce. It is located in the Paris Building, an emblematic building designed in 1924, notable not only for its architecture, but for its artistic decoration, represented by its majestic imperial staircase and its impressive glass dome. On their roofs it rages an epic battle between figures from Greek mythology: Diana the Huntress observes from the building opposite the fight to the death between the Phoenix sent by Zeus to punish Endymion, Diana’s lover. He testimony of that fight It is reflected in the form of two lost arrows of Diana, which from the sidewalk welcome visitors at the main entrance of the store. This combination of history, architecture and grandeur makes the store an authentic “monument” on Madrid’s Gran Vía. Official data and operating figures. According to the study data carried out by the consulting firm AFI on the occasion of the tenth anniversary of the storearound 1,000 people of 28 nationalities work there, generating 500 indirect jobs through suppliers and additional services. At an economic level, the store contributed 83 million euros in 2024 to the economy as a whole, of which 42 million euros corresponded to taxes and social contributions. To understand the economic dimension of this economic mastodon, it is enough to say that Primark’s enormous space contributes more than 10 million euros annually to the local Gross Domestic Product through its operations alone. The “unofficial data.” Jaime PlaCEO of SUOP, has started a series of videos in the TikTok profile of the teleco, which details data and figures of emblematic buildings such as the Bernabéu, the Madrid airport or, of course, the Primark megastore. Between data and estimates from the video that the businessman dedicates to this location, it is noted that the salaries of the employees who work in the store amount to approximately 2 million euros, while cleaning, security and insurance services represent a monthly expense of 100,000 euros. Added to this are 20,000 euros per month in electricity and water supplies. All this, together with the merchandise on display on its shelves adds up to an approximate cost of 11.7 million per month. The “cosmic joke”: rent. According to the data provided by Pla, among these monthly expenses, 1.8 million euros are allocated to pay the rent for the building. This point is especially striking because the building where the store is located is owned by Amancio Ortega. It is ironic that the founder from Inditex, is collecting rent of the most important store of its main rival in the sector of retail textile. Amancio Ortega, through Pontegadea, bought the Paris Building to Drago Real Estate Partners in 2015, just before the store opened to the public. It is not known exactly how much Pontegadea paid for him, but the starting price of the operation was 400 million euros. Pontegadea: the “premium” landlord. Amancio Ortega founded Pontegadea with the intention of turning into profitable investments the dividends that its founder receives each year for 59.294% of Inditex shares. with those billionaire annual dividendsPontegadea has become Amancio Ortega’s second empire Thanks to your strategic real estate investmentsOrtega has become in the home from companies like Amazon, Apple, Google, Spotify and, as if it were a cosmic joke, also from Primark, charging a millionaire rent to the main rival of the company that made him a millionaire. In Xataka | In his efforts to diversify investments, Amancio Ortega takes a new twist: becoming a port authority Image | Primark, GTRES

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