The deserted blackjack and roulette tables at Codere SA’s central Madrid gaming rooms, along with the 750-seat bingo hall that’s about three-quarters empty a floor below, testify to the challenge the company faces as it seeks to avoid insolvency.
King Juan Carlos, who early in his reign faced down a military coup that threatened Spain’s return to democracy before seeing his family dragged into a corruption scandal last year, said he will abdicate the throne in favor of his son.
Adolfo Suarez, the prime minister who led Spain from dictatorship to democracy and became its first elected premier after the death of Francisco Franco, has died, Spanish state-owned broadcaster RTVE said. He was 81.
Five days before Christmas, ex-Deputy Prime Minister Rodrigo Rato was asked by a prosecutor probing the collapse of Bankia SA whether he’d done business with Jaime Castellanos, chairman of Lazard Ltd.’s Spanish unit.