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Protesters in Barcelona angry at evictions and high rental rates

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Protesters in Barcelona angry at evictions and high rental rates

Local residents and activists blame the influx of tourists, many of whom seek short-term rental accommodations, for contributing to soaring rent prices.

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Hundreds of angry protesters gathered outside Barcelona’s historic Casa Orsola apartment building on Friday, determined to prevent the eviction of one of its long-time tenants, Josep Torrent.

The building, has come to symbolise the ongoing housing crisis in Barcelona, which has seen escalating concerns over affordable housing.

The Casa Orsola, purchased by an investment fund in 2021, has witnessed significant changes under new ownership. Since the acquisition, the new owners have ceased renewing rental contracts for existing tenants. Neighbours and local media have speculated that the building will be converted into luxury apartments intended for short-term tourist rentals—an increasingly common trend in Barcelona.

These short-term rentals are exempt from rent cap regulations, which were recently introduced by the local government to address the city’s housing shortage.

Josep Torrent, a mathematics professor who has lived in the building for 23 years, was scheduled for eviction on 31 January, following years of legal battles with the new owners. However, the eviction was postponed after negotiations with the judiciary and Catalan police, who cited concerns over the safety of carrying out the removal amid the protests. A new eviction date has been set for the early hours of Tuesday, 4 February, with protesters pledging to continue their fight to prevent it.

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“These people want to scare their tenants and evict them one by one. But we have a very clear idea. The only way to stay in our homes is through collective bargaining so all rent contracts can be renewed,” Carme Arcarazo, spokesperson for Catalonia’s tenants union, said. “It’s disgraceful the way these people extort.”

One local resident Raul Acuña called for collective action. “If we all unite and keep fighting, we may be able to reverse this problem. But we must stay united. The problem starts with policies carried out by local governments. If we stay together, we can reverse the situation. If we don’t, it’s likely we will be forced to move out of the city.”

Over the last decade, the average rent in Spain has doubled, and the price per square metre in Barcelona has jumped from 7.2 euros in 2014 to 13 euros this year, according to real estate website Idealista. The crisis is exacerbated by stagnant wages, particularly for younger people, in a country plagued by high unemployment rates.

Ignasi Marti, a professor of Society, Politics, and Sustainability at Esade University, emphasised the need for market regulation to address the crisis.

“The market never self-regulates. If you leave private actors to regulate themselves, it leads to situations like the one we’re witnessing now. The market must be regulated in some way.”

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A report by the Bank of Spain revealed that nearly 40% of Spanish renters dedicate an average of 40% of their income to rent and utilities, significantly higher than the EU average of 27%.

This problem is compounded by the rising number of short-term rentals catering to tourists, which drives up prices even further. Migrants to Spain, who often lack sufficient savings, are disproportionately affected by the high rents.

Spain’s public housing stock is also one of the smallest in the OECD, with less than 2% of housing available for rent through public housing programmes, far below the OECD average of 7%. Countries like France, Britain, and the Netherlands have much larger percentages of public housing, with France at 14%, Britain at 16%, and the Netherlands at 34%.

Local residents and activists blame the influx of tourists, many of whom seek short-term rental accommodations, for contributing to the soaring rent prices. Barcelona’s town hall has pledged to eliminate 10,000 so-called “tourist apartments” by 2028 as part of an effort to reduce the housing burden on locals.

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Morning Bid: ‘Tis the season for macro forecasts

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Morning Bid: ‘Tis the season for macro forecasts

LONDON, December 5 (Reuters) – Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend.

From the Editor

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Hello Morning Bid readers!

We’ve entered the final month of the year, and that means one thing: 2026 market outlooks. While it’s tough to find many U.S. equity bears, forecasts are arriving with quite a few qualifiers – which is understandable given that so much is riding on an artificial intelligence boom that’s shrouded in uncertainty.
AI adoption might truly take off next year, but as ROI editor-at-large Mike Dolan argues, U.S. GDP growth is likely still going to be constrained by a 150-year 2% trendline, especially if technological innovation runs up against supply chain or labor market bottlenecks.
Speaking of the U.S. labor market, the picture there is once again clear as mud. On Wednesday, U.S. private payrolls for November came in at negative 32,000 – well below consensus and the biggest drop in more than two and a half years. Yet Thursday brought news that the number of Americans filing new applications for unemployment benefits had slid to the lowest level in a more than three years.
And despite all the talk of a K-shaped economy, a slice of consumer delinquency figures suggests the U.S. economic picture might not be so grim.
On top of that, fears about foreign investors souring on U.S. stocks may also be misplaced. Overseas private sector inflows into U.S. stocks are running at record-high levels, having re-accelerated in recent months. The big question now is whether this can be sustained next year.
Over in Asia, Japan’s 10-year yield jumped to its highest point since 2007 on Friday, shooting up over 25 bps in four weeks, even as the government of Prime Minister Sanae Takaichi has sought to soothe investor concerns about her $137 billion spending plan.
The battered yen continues to hover around 155 to the dollar, near the higher end of its multi-decade range. The currency’s seemingly excessive weakness may be a ticking time bomb, argues Eurizon SLJ CEO Stephen Jen.
In energy markets, the week started off with OPEC+ announcing that it would keep production levels unchanged through the first quarter. But uncertainty surrounding sanctioned volumes complicates the market outlook.
Staying with OPEC+, changes its making to its oil production quota system could spark a wave of upstream investments.
Meanwhile, in the gas market, Europe is preparing to phase out Russian imports by 2027. ROI energy transition columnist Gavin Maguire explains which countries will be most affected.
Over in metals, copper continues its bull run, but this boom does not mean global manufacturing is firing up commensurately heading into 2026.
Looking to next week, the main event is the Federal Reserve meeting. A 25 bps cut is all but guaranteed, but Fed-watchers will pay close attention to the number of dissents, as this may speak to the growing divisions in a body long known for consensus.
The real Fed story, however, remains Present Donald Trump’s selection of the next Chair. Mike Dolan argues that if White House adviser Kevin Hassett is selected – as Trump has hinted – he will effectively serve as a “shadow Fed Chair” for five months – with markets hanging on his every word.

As we head into the weekend, check out the ROI team’s recommendations for what you should read, listen to, and watch to stay informed and ready for the week ahead.

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I’d love to hear from you, so please reach out to me at anna.szymanski@thomsonreuters.com, opens new tab ., opens new tab
This weekend, we’re reading…CLYDE RUSSELL, ROI Asia Commodities and Energy Columnist: You don’t need to be a chess player to appreciate the story of Sarwagya Singh Kushwaha, the youngest player in chess history to earn an official FIDE rating before the age of four.RON BOUSSO, ROI Energy Columnist: A picture is worth a thousand words. That’s why I recommend looking at this exquisite collection of the Reuters’ top photographs of 2025, selected from the 1.6 million photos released to clients this year. And what a year it’s been…GAVIN MAGUIRE, ROI Global Energy Transition Columnist: This updated high-def map of U.S. Data Center infrastructure created by the chief cartographer at the recently renamed National Renewable Energy Laboratory (NREL) is a thing of beauty. It really highlights the enormous scale of the activity taking place across the country as transmission lines and server farms get up at running to power the AI revolution: https://docs.nrel.gov/docs/gen/fy26/98020.jpg, opens new tabJAMIE MCGEEVER, ROI Markets Columnist: The U.S. – and the world – is experiencing an intense speculative AI boom. To get a sense of where it might lead, economics professors Simon Johnson and Piero Novelli look back and Charles Kindleberger’s “Manias, Panics and Crashes”. The book, published in 1978, raises three fundamental questions relevant to today., opens new tabWe’re listening to…MIKE DOLAN, ROI Editor-at-Large: It’s not often you get a podcast on ‘r*’! With the Fed meeting up next week, this Brookings podcast on the theoretical ‘neutral’ rate of interest shows how the shocks of recent years may see this rate creeping higher after years of decline., opens new tabJAMIE MCGEEVER, ROI Markets Columnist: Michael Burry of ‘The Big Short’ fame doesn’t really do media beyond his often cryptic posts on X – and interviews are even rarer. But fast forward through about 6-7 minutes of ads and intro, and you get one here on the ‘Against the Rules’ podcast with author Michael Lewis., opens new tab

And we’re watching…

ANNA SZYMANSKI, ROI Editor-in-Charge: We’ve just launched the Morning Bid daily podcast, opens new tab, which will be available in audio and video. Subscribe to hear and see ROI editor-at-large Mike Dolan and other Reuters journalists discuss the biggest news in markets and finance seven days a week.
Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website, opens new tab, and you can follow us on LinkedIn, opens new tab and X., opens new tab
Opinions expressed are those of authors. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias.

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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Russian spies infiltrate UK on cargo ships to scout military sites, find weaknesses

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Russian spies infiltrate UK on cargo ships to scout military sites, find weaknesses

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Two suspected Russian spies are believed to have secretly entered the U.K. on cargo ships before traveling to locations close to key military bases and critical government infrastructure, according to reports.

The i Paper claimed the two men arrived in the U.K. during the spring and summer of 2025, using ports at Torquay, Middlesbrough and Grangemouth, in the north-east.

A U.K. defense source also suggested the men were linked to President Vladimir Putin’s military and intelligence networks.

BRITAIN SAYS RUSSIAN SPY SHIP IS ON EDGE OF UK WATERS, AS DEFENSE SECRETARY ISSUES WARNING TO PUTIN

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Two suspected Russian spies entered the U.K. via cargo ships through Torquay, Middlesbrough and Grangemouth ports before visiting areas near military bases. (PAUL ELLIS/AFP via Getty Images))

The pair are alleged to have accessed the country covertly by exploiting commercial shipping routes rather than passing through heavily monitored border entry points.

The ships they used were reportedly neither Russian-flagged nor part of the sanctioned shadow fleet associated with the Kremlin, making them far less likely to attract scrutiny.

A senior NATO official responsible for protecting Europe’s maritime waters told the outlet that intelligence agencies had detected Russian operatives traveling on non-suspicious cargo vessels.

The official said those types of ships offer an ideal way of moving personnel discreetly.

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US TURNS TO FINLAND TO CLOSE ARCTIC ‘ICEBREAKER GAP’ AS RUSSIA, CHINA EXPAND POLAR PRESENCE

Putin is testing the boundaries of NATO with aircraft incursions, allied states say. (Ramil Sitdikov/Pool/Reuters )

“It would be the most natural place to move people around in that world, and we think it’s going on,” the source said.

“They are not sailing on shadow fleet tankers, they are sailing on all [types of] ships,” the source claimed, adding that Russian agents had monitored and “tested European ports to find weaknesses.”

One of the suspected operatives is reported to have entered the U.K. through Torquay in the South West after traveling from Finland. 

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The second, previously seen in Moscow at an intelligence-linked facility, was suspected of traveling from Kaliningrad and entering via Middlesbrough and Grangemouth.

After spending time around the storage facility at Grangemouth, the second operative also traveled to Falkirk, where they visited a retail park.

NATO CONSIDERS ‘MORE AGGRESSIVE’ RESPONSE TO RUSSIA’S HYBRID THREATS

Suspected Russian operatives entered the U.K. through ports near weapon facilities to test security weaknesses. (John Keeble/Getty Images)

Both British docks were recently proposed by the Ministry of Defense as potential sites for future U.K. weapons factories. 

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They are currently unused brownfield locations, increasing concerns over the security implications of the alleged visits.

Elisabeth Braw of the Intelligence Council and senior fellow at the Atlantic Council told the i Paper that it makes sense for Russian intelligence to exploit these weaknesses.

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“It doesn’t surprise me that Russia wants to bring certain people into the country even though they can reach people who are already there,” she said.

“They need their own operatives to conduct this sort of activity,” Braw added.

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Russian gas and oil in Europe are done for good, Energy Commissioner tells Euronews

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EU legislators agreed this week on a historic deal to end energy dependency on Russian gas by 2027. Commissioner Jørgensen told Euronews’ Europe Today morning show that Europeans must never allow Moscow to weaponise energy, and a Russian oil ban could be next.

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