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The latest business and finance news from around the world from the BBC


Spanish Football Clubs Ordered to Repay State Aid

July 4th, 2016

Episode 765 of 862 episodes

Seven football clubs in Spain have been ordered to repay millions of euros of state aid. European competition commissioner Margrethe Vestager explains why, and football journalist Ashish Sharma in San Sebastian tells us how the news is being received in Spain. Also in the programme, we find out why Britain's decision to leave the EU has brought the crisis facing Italy's banking sector to a head. Economics professor Enrico Colombetto at the University of Turin gives us the background. The UK's finance minister has said corporation tax could be reduced from 20 to below 15 per cent to help deal with any economic shock caused by Brexit. Alex Cobham of the Tax Justice Network tells us why he thinks it's a disappointing move. We have a report from Ireland on the implications of Britain's vote to leave the EU there. Plus Lucy Kellaway of the Financial Times discusses the nature of power. (Picture: Real Madrid won the 2016 UEFA Champions League. Picture credit: Getty Images.)

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