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HEALTH

LISTED: The 14 sun creams Spain wants to take off the market

If you're looking for the right sun protection this summer, then you should be aware that the Spanish Ministry of Health has requested that 14 sunscreens be withdrawn because their SPF doesn't correspond to what is advertised.

LISTED: The 14 sun creams Spain wants to take off the market
The Spanish Ministry of Health requests the withdrawal of 14 sun creams. Photo: MYCHELE DANIAU / AFP

The Spanish Agency for Medicines and Health Products (AEMPS) and the Ministry of Health, requested on Tuesday the voluntary withdrawal of 14 sun creams because the sun protection factor (SPF) that they advertise does not correspond to the labelling.

The results were discovered during a recent trial AEMPS carried out to guarantee that the sun protection factor is the one announced by the manufacturers. The trials focused on sunscreens with SPF 50 or SPF 50+, especially those with very light creams, mists and sprays. The agency chose 19 products from companies in different countries, of different sizes and price points.

Only five of the 19 creams analysed provided protection that was consistent with its labelling.

Five of the sun creams had an SPF much lower than that indicated on their labels, always below an SPF factor of 29.9. These are:

  • Abelay Sunscreen SPF50 from Ab7
  • Mussvital Photoprotector Spray Ultra Light 50+ aerosol from Peroxfarma
  • Eucerin Sun Sensitive Protect Sun Spray Transparent Dry Touch SPF 50 High by Beiersdorf AG
  • Hawaiian Tropic Silk Hydratation Solar Mist air soft SPF 50+ (High) by Wilkinson Sword
  • Australian Gold SPF Botanical SPF 50 continuous spray by Biorius

Nine of the sunscreens were found to have an SPF of between 30 and 49.9, instead of the advertised 50. These were:

  • Les Cosmetiques Sun Ultimate Sensitive SPF 50+ sun spray for sensitive skin from Carrefour
  • Belle & Sun Invisible Sun Mist SPF 50 by Perseida Beauty
  • Isdin Photoprotector Fusion Water SPF 50 from ISDIN daily use facial sunscreen
  • Farline sun spray SPF 50+ 200 mL Very High Protection
  • Babaria Solar Protective Mist SPF 50 by Berioska
  • Seesee Transparent Sun Spray SPF 50+ by Cosmetrade
  • Piz Buin Hydro Infusion Gel Sun Cream SFP 50 High Protection by Johnson & Johnson Santé Beauté
  • Ladival Sensitive Skin SPF 50+ from STADA Arzneimittel AG
  • Lancaster Sun Sensitive Luminous Tan Comfort cream SPF 50+ by Coty

No incidents of sunburn related to any of these products have been reported, however the Ministry of Consumption has started to investigate possible illicit advertising and unfair practices, and where appropriate, will sanction the manufacturers.

According to Weather Online, the UV Index in Spain and other Mediterranean countries is a lot higher than in northern European countries. Indices of 9 and 10 are common, whereas, in the UK, the UV Index rarely exceeds 8.

If you’re looking for extra protection this summer, a new app, UV-Derma has been released by professors from the University of Malaga, which calculates how long you can stay in the sun before burning. 

READ ALSO: Climate crisis: Spain records hottest year in 2020

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MONEY

Rampant branch closures and job cuts help Spain’s banks post huge earnings

Spain’s biggest banks this week reported huge profits in 2021 and cheered their return to recovery post-Covid, but ruthless cost-cutting in the form of thousands of layoffs, hundreds of branch closures and the removal of many ATMs have left customers in Spain suffering, in this latest example of ‘Capitalismo 2.0’. 

A man withdraws cash from a Santander branch in Madrid.
More than 3,500 Santander workers lost their jobs in Spain in 2021 and a further 2,000 more employees working for Santander across Europe were also laid off. Photo: PHILIPPE DESMAZES / AFP

Spanish banking giant Santander on Wednesday said it has bounced back from the pandemic as it returned to profit last year, beating analyst expectations and exceeding its pre-COVID earnings.

Likewise, Spain’s second-largest bank BBVA said on Thursday that it saw a strong rebound in 2021 following the Covid crisis, tripling its net profits thanks to a recovery in business activity.

It’s a similar story for Unicaja (€137 million profit in 2021), Caixabank (€5.2 billion profit thanks to merge with Bankia), Sabadell (€530 million profit last year), Abanca (€323 million profit) and all of Spain’s other main banks.

This may be promising news for Spain’s banking sector, but their profits have come at a cost for many of their employees and customers. 

In 2021, 19,000 bank employees lost their jobs, almost all through state-approved ERE layoffs, meant for companies struggling financially.

BBVA employees protest against layoffs in May 2021 in Madrid. Spain’s second-largest bank BBVA is looking to shed 3,800 jobs, affecting 16 percent of its staff, in a move denounced by unions as “scandalous”. (Photo by GABRIEL BOUYS / AFP)

Around 11 percent of bank branches in Spain have also been closed down in 2021 as part of Spanish banks’ attempts to cut costs, even though they’ve agreed to pay just under €5 billion in compensation.

Rampant branch closures have in turn resulted in 2,200 ATMs being removed since the Covid-19 pandemic began, even though the use of cajeros automáticos went up by 20 percent in 2021.

There are now 48,300 ATMs in Spain, levels not seen since 2001.

READ MORE:

Apart from losses caused by the coronavirus crisis, Spain’s financial institutions have justified the lay-offs, branch closures and ATM removals under the premise that there was already a shift to online banking taking place among customers. 

But the problem has been around for longer in a country with stark population differences between the cities and so-called ‘Empty Spain’, with rural communities and elderly people bearing the brunt of it. 

 

Caixabank laid off almost 6,500 workers in the first sixth months of 2021. Photo: ANDER GILLENEA/AFP

Just this month, a 78-year-old Valencian man has than collected 400,000+ signatures in an online petition calling for Spanish banks to offer face-to-face customer service that’s “humane” to elderly people, spurring the Bank of Spain and even Spain’s Prime Minister Pedro Sánchez to publicly say they would address the problem.

READ MORE: ‘I’m old, not stupid’ – How one Spanish senior is demanding face-to-face bank service

It’s worth noting that between 2008 and 2019, Spain had the highest number of branch closures and bank job cuts in Europe, with 48 percent of its branches shuttered compared with a bloc-wide average of 31 percent.

Below is more detailed information on how Santander and BBVA, Spain’s two biggest banks, have reported their huge profits in 2021.

Santander

Driven by a strong performance in the United States and Britain, the bank booked a net profit of €8.1 billion in 2021, close to a 12-year high. 

It was a huge improvement from 2020 when the pandemic hit and the bank suffered a net loss of €8.7 billion after it was forced to write down the value of several of its branches, particularly in the UK. It was also higher than 2019, when the bank posted a net profit of €6.5 billion.

Analysts from FactSet were expecting profits of €7.9 billion. 

“Our 2021 results demonstrate once again the value of our scale and presence across both developed and developing markets, with attributable profit 25 per cent higher than pre-COVID levels in 2019,” said chief executive Ana Botin in a statement.

Net banking income, the equivalent to turnover, also increased, reaching €33.4 billion, compared to €31.9 billion in 2020. This dynamic was made possible by a strong increase in customer numbers, with the group now counting almost 153 million customers worldwide. 

“We have added five million new customers in the last 12 months alone,” said Botin.

Santander performed particularly well in Europe and North America, with profits doubling in constant euros compared to 2020. In the UK, where Santander has a strong presence, current profit even “quadrupled” over the same period to €1.6 billion.

Last year’s net loss was the first in Banco Santander’s history, after having to revise downwards the value of several of its subsidiaries, notably in the UK, because of COVID.

The banking giant, which cut nearly 3,500 jobs at the end of 2020, in September announced an interim shareholder payout of €1.7 billion for its 2021 results. “In the coming weeks, we will announce additional compensation linked to the 2021 results,” it said.

BBVA

The group, which mainly operates in Spain but also in Latin America, Mexico and Turkey, posted profits of €4.65 billion ($5.25 billion), up from €1.3 billion a year earlier.

The result, which followed a solid fourth quarter with profits of €1.34 billion, was higher than expected, with FactSet analysts expecting a figure of €4.32 billion .

Excluding non-recurring items, such as the outcome of a restructuring plan launched last year, it generated profits of 5.07 billion euros in what was the highest figure “in 10 years”, the bank said in a statement.

In 2020, the Spanish bank saw its net profit tumble 63 percent as a result of asset depreciation and provisions taken against an increase in bad loans due to the economic fallout of the virus crisis.

“The economic recovery over the past year has brought with it a marked upturn in banking activity, mainly in the loan portfolio,” the bank explained, pointing to a reduction of the provisions put in place because of Covid.

In 2021, BBVA added a “record” 8.7 million new customers, largely due to the growth of its online activities. It now has 81.7 million customers worldwide.

The group’s net interest margins also rose 6.1 percent year-on-year to €14.7 billion, said the bank, which is undergoing a cost-cutting drive.

So far, it has axed 2,935 jobs and closed down 480 branches as the banking sector undergoes increasing digitalisation and fewer and fewer transactions are carried out over the counter.

At the end of 2020, BBVA sold its US unit to PNC Financial Services for nearly 10 billion euros and decided to reinvest some of the funds in the Turkish market.

In November, it launched a bid to take full control of its Turkish lending subsidiary Garanti, offering €2.25 billion ($2.6 billion) to buy the 50.15 percent stake it does not yet own.

The deal should be finalised in the first quarter of 2022.

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