Canary Islands News
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Spanish politicians trying to cushion the blows of austerity plan to seize foreclosed homes to house the needy, discouraging foreign investment and threatening to violate terms of the European bailout of the country’s banks.
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Repsol SA, Spain’s largest oil producer, will invest at least 7.5 billion euros ($9.8 billion) to produce the fuel off the Canary Islands near Morocco should exploration studies be successful.
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Five people died and three were injured when a lifeboat dropped from a docked cruise ship operated by TUI AG’s Thomson during an emergency drill in the port of Santa Cruz de La Palma, in the Canary Islands.
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Jose Manuel Soria, Spanish Minister for Industry, Energy and Tourism, said finding oil could be the “salvation” of the Canary Islands economy where unemployment is at 31 percent, Efe reported.
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A tanker owned by D/S Norden A/S, Europe’s biggest publicly traded commodity-shipping company, turned off its main engine for more than 200 miles to save on fuel as the industry curbs an expense that was a record in 2012.
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At 10 a.m. on a hot Friday, Antonio Rodriguez Alvarez and his brother, Francisco, sit outside a bar in Ecija, Spain, drinking an anise liquor with water. Unemployed laborers, they visit the job center daily at 9 a.m. in search of work. When there is none, they repair to the bar and worry.
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Spanish Prime Minister Jose Luis Rodriguez Zapatero is headed to victory on the country’s deepest budget cuts in three decades after striking deals with regional parties to support his 2011 fiscal blueprint.
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To shore up the Spanish banking system, Caja Madrid Chairman Rodrigo Rato may offload a stake in a water ride inspired by the Greek god Triton, a restaurant modeled after a Roman villa and an Egyptian-themed fun house called the Piramide del Terror.
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Jim Crawford needs to know his nuclear power station on a gentle stretch of England’s North Sea coast can withstand a chunk of volcanic rock dropping into the ocean 2,000 miles (3,200 kilometers) away in the Canary Islands.
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Carlos Hernandez Sonseca studied six years for a bachelor’s degree and couldn’t find a job near his home outside Madrid when he graduated in 2011. Last year, he took an increasingly well-worn path to the U.K.
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