Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Food delivery firm Deliveroo said last week that it was mulling whether to discontinue services in Spain, because of high costs related to running operations in the South European country, to focus on other markets.

“The company has determined that achieving and sustaining a top-tier market position in Spain would require a disproportionate level of investment with highly uncertain long-term potential returns,” London-listed Deliveroo said in a statement, cited by Reuters.

In May, the Spanish government granted food delivery companies three months to convert their couriers into staff workers, one of the first European laws that concern rights of gig-economy workers.

The company said that such a proposal was subject to consultation with employees and riders who will likely be affected by the discontinuation of local operations.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Spot Gold confined in range as US unveils higher tariffsSpot Gold confined in range as US unveils higher tariffs Spot Gold remained stuck within a tight daily range on Tuesday, as the Trump administration unveiled sharply higher tariffs on imports from Japan, South Korea and other countries.Yesterday US President Donald Trump began notifying trade […]
  • Panasonic’s first-quarter earnings shrink 39% as China lockdowns, higher material costs bitePanasonic’s first-quarter earnings shrink 39% as China lockdowns, higher material costs bite Panasonic Holdings Corp (6752) on Thursday reported a 39% slump in its fiscal first-quarter profit, as results were heavily affected by COVID-19-related lockdowns in China and surging costs of materials, all of which disrupted […]
  • USD/CHF hovers above lows last seen in September 2011USD/CHF hovers above lows last seen in September 2011 The USD/CHF currency pair hovered just above Tuesday's low of 0.7871, its weakest level since September 2011, ahead of the key US Non-Farm Payrolls report later in the day, which may offer more insight into labor market conditions and the […]
  • Forex Market: EUR/GBP daily trading forecastForex Market: EUR/GBP daily trading forecast Yesterday’s trade saw EUR/GBP within the range of 0.7944-0.8030. The pair closed at 0.7962, losing 0.62% on a daily basis.At 6:47 GMT today EUR/GBP was up 0.06% for the day to trade at 0.7967. The pair touched a daily high at 0.7972 at […]
  • Soybeans Reach a Six-Month HighSoybeans Reach a Six-Month High Soybeans reached a six-month high following signs of increased demand from China and concerns over U.S. crop. Soybeans futures for July delivery rose 0,1% for the day and traded at $14.9513 a bushel, following a 0,5% increase earlier in the […]
  • Maserati sacrifices exclusivity to compete with BMW, Mercedes, AudiMaserati sacrifices exclusivity to compete with BMW, Mercedes, Audi Maserati the exclusive luxury sport car manufacturer is shifting focus towards a lower-end market. This fall the Fiats owned company is going to introduce its Maserati Ghibli - mid-sized sedan priced around $65 000. The Italian subsidiary […]