According to the source, it was revealed that the largest van rental company, Northgate has crossed all its expectations in the year until 30 April. The outlets of Northgate are situated in UK and Spain. The company has achieved and crossed its targets in spite of the economic uncertainty in the country.

It was observed that the pre-tax profit was up by 47 per cent to £53.8m (£36.5m) and after impairments the pre-tax profit was £26.5m (£9.6m). The shares have increased by 5.7 per cent to close at 327.9p.

The Spanish government has asked the Royal Bank of Scotland PLC (RBS) to provide assistance in the privatization of the airports. The government has planned to privatize 49% of the Aena Aeropuertos and has asked the bank to help in arranging bids for the contract.

Last year, Socialist Prime Minister José Luis Rodríguez Zapatero had announced to privatize the Madrid's Barajas and Barcelona's El Prat airports, to overcome the financial deficits by 6% in 2011 and by 4.4% in 2012.

According to the news, Spain-based Gas Natural has inked a deal with Mitsui and Tokyo Gas to sell some of its power generation assets in the Mexican market.

It is expected that the transaction will allow Gas Natural to continue its restructuring plan and rebalance its global exposure to different nations around the world.

Spain’s Telefonica has announced that it has acquired Jajah for 145 million euros (US$207 million). Jajah is a provider of Internet-based phones service with headquarters in the United States and Israel.

According to the statement issued by the former state monopoly, the all cash deal is subject to approval by Spain’s antitrust authorities.

Jajah will allow its customers to make free calls between its customers over the Internet or very cheap calls to the fixed-line as well as mobile numbers.

According to the sources, Spain’s Telefonica has allocated a deal to ZTE to manufacture a WiMAX network.

However, the exact value of the deal has not been disclosed yet.

It is learnt that it is the largest deal bagged by the ZTE from a European operator.

Meanwhile, company’s Iberbanda will operate the network and comes after the Spanish operator has named Israel’s Alvarion back in May to develop its WiMAX network in Catalonia.

This newest award to ZTE does not clarify when or where the deployment will happen, or if it involves collaboration with Alvarion.

Spain’s Telefonica has expressed its desire to invest $1.14 billion in Brazil in 2010, compared with expected capex of around 2.4 billion reais figured for 2009.

Addressing to reporters, Valente said, “The investment probably will be bigger than 2 billion reais.”

Moreover, Telefonica was also preparing for a proposal for a more “aggressive” pricing of its fast Internet access to handle the increase in competition from France’s Vivendi in the Brazilian market.

The US auto maker General Motors has announced that it will keep all four plants of its European subsidiary Opel in Germany, but may shed 9,500 jobs in Europe as part of its restructuring.

While talking to reporters, the head of GM's European operations Nick Reilly confirmed that the state premier of Thuringia in eastern Germany Christine Lieberknecht that Opel's Eisenach facility in her state will remain open.

Further he said, "Opel needs to restructure the company and to reduce its capacity by 20 per cent to make it profitable again and to remain globally competitive."