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US tariff turmoil makes Spain’s flagship foods seek other markets

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Guy Hedgecoe

Business reporter

Guy Hedgecoe A leg of Spanish ham, or jamon, being carved at a bar in SevilleGuy Hedgecoe

Spain’s famous jamón ibérico is one of its biggest food exports

It’s lunchtime in a bar in the southern Spanish city of Seville. The kitchen is humming with activity, and behind the bar a member of staff pours cold beer from a tap into a glass.

Nearby, another uses a carving knife to cut slices from a large leg of jamón ibérico, or Iberian ham, placing each one on a plate, to be served as an appetiser.

There are few more Spanish scenes. And there are few more Spanish products than jamón ibérico, whose unique salty flavour is renowned across the world, and part of a national cured ham industry worth nearly €750m ($850m; £630m) each year in exports.

As he watches the jamón being carved, Jaime Fernández, international commercial director for the Grupo Osborne, which produces wine, sherry and the renowned Cinco Jotas brand of ham, describes it as a “flagship” national foodstuff.

“It’s one of the most iconic gastronomic products from Spain,” he says, pointing out how the pigs used to make the ham are reared in the wild and fed on acorns. “It represents our tradition, our culture, our essence.”

But jamón ibérico, like products across Spain and the rest of Europe, is facing the threat of trade tariffs imposed by US President Donald Trump.

There was no tariff on Spanish ham exports to the US until April of this year, when a 20% charge on all European imports was suddenly introduced, dropping to 10% pending negotiations.

However, in May Trump unsettled European exporters again when he said that the tariff for all EU goods could rise as high as 50% if trade talks with Brussels do not come to a successful agreement. The current deadline for this is 9 July.

“The United States is one of our top, priority markets,” says Mr Fernández. “The uncertainty is there, and it complicates our medium-and long-term planning, investments and commercial development.”

The tariffs, he adds, “pose a threat to our industry.”

Guy Hedgecoe Jaime Fernández, international commercial director for the Spanish food firm Grupo Osborne, sitting in a bar in SevilleGuy Hedgecoe

Jaime Fernández says his company is already looking to invest in China as an alternative to the US

Spain’s overall economy is in rude health. The IMF has forecast growth this year of 2.5% – much higher than the other main EU economies – and unemployment is at a 17-year low.

But the tariff issue comes as a blow for the country’s pork industry, which represents more than 400,000 direct and indirect jobs, and is Europe’s largest.

Demand for cured ham in the US has grown substantially in recent years, and it has become the biggest importer of Spanish ham outside the EU.

But the Spanish industry now faces the prospect of having to raise retail prices for US consumers and therefore losing competitivity to local products, or those not subject to the same tariffs.

Spain’s olive oil sector is in a similar quandary. The world’s biggest producer of olive oil, Spain had set its sights on the US as a burgeoning market whose growth was driven by growing awareness of the health benefits of the product.

Yet the the tariff turmoil comes just as Spanish producers and exporters have recovered from a drought that slashed harvests in the south of the country, and sent prices temporarily soaring.

The US represents half of world olive oil consumption outside the EU.

It is also the country whose imports of the foodstuff from Spain have grown the most in recent years, increasing from approximately 300,000 tonnes per year a decade ago to around 430,000 tonnes, says Rafael Pico Lapuente, director general of the Spanish association of olive oil exporters (ASOLIVA).

Much will depend, he says, on the final tariff set for the EU.

“If there is a 10% tariff which is permanent, without differentiating between countries of origin, it’s not going to create a distortion on the international market,” says Mr Pico Lapuente.

He explains that American consumers might have to absorb the extra cost. And although local US producers of olive oil or similar products would gain a competitive edge, their output is small enough for it not to concern the likes of Spain.

However, he says it would be “a different story” if Trump introduced higher tariffs for the EU than for competitor olive oil countries outside the bloc – such as Turkey, the world’s second-largest producer, or Tunisia, an emerging grower. That scenario, he says, would have a major impact on the world market and Spanish producers.

Guy Hedgecoe Black Iberian pigsGuy Hedgecoe

Spain is renowned for the quality of its Black Iberian pigs and the ham they produce

But variations in tariffs between countries or trade blocs would also lead to a certain amount rule-bending and even chaos, according to Javier Díaz-Giménez, a professor of economics at the IESE business school in Madrid. He suggests two of Spain’s direct neighbours as a hypothetical example.

“If Spain has a 20% tariff and Morocco and Andorra have a 10% tariff, all the Spanish products that can go through Morocco or Andorra… will do so.”

He adds: “They will be first exported to Morocco and Andorra and from there re-exported to the United States with a 10% tariff.

“And it’s going to be really hard to make sure that these olives came from Andorra proper and not from Spain. Is Trump going to do something about that?”

Getty Images Bottles of Spanish olive oilGetty Images

Spain is the world’s largest producer of olive oil

For now, Spanish producers and exporters must hold their breath as EU negotiations take place with Washington. For Mr Pico Lapuente, a big cause of concern is the influence – or as he sees it, lack of influence – his sector wields within the European trade bloc.

“The negotiations representing the EU’s 27 countries are carried out by Brussels,” he says. “In these negotiations, industrial products have a much bigger influence than food.

“I wouldn’t like it if, in this negotiation, food products like olive oil were used as mere bargaining chips in order to get a better deal for Europe’s industrial products. That worries me. And I hope it doesn’t happen.”

A spokesperson for the European Commission told the BBC that in negotiations with the US it will act “in defence of European interests, protecting its workers, consumers and its industries”.

Jaime Fernández, of the Grupo Osborne, believes his industry could live with the 10% tariff that is currently in place without suffering too much fallout.

However, a 20% charge, he says would cause the industry “to reconsider how to accelerate growth in some other markets, which would eventually lead to the relocation of resources from the US”.

He says his company is already looking at alternative markets in which to invest, such as China, or proven European ham consumers such as France, Italy and Portugal.

Mr Díaz-Giménez says that is the logical response to the current uncertainty.

“If I was the CEO of any company with a high exposure to the United States… I would have sent my entire sales team to find other markets,” he says.

“And by now, they would have found them. There would be plan Bs and plan Cs, to make sure that we have reduced this exposure to the US.”



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Edinburgh Airport liquid limit increased from 100ml to two litres

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Claire Thomson

BBC Scotland News

BBC An orange airport video signboard saying "Liquids of up to 2 litres now allowed" with passengers carrying hand luggage walking in backgroundBBC

There is no limit on the number of two litre containers in hand luggage

Edinburgh Airport has lifted the 100ml rule for liquids being carried in hand luggage.

It will now be possible to take containers of up to two litres through security, and they will not need to be removed from bags.

The change comes after an extra two lanes and eight scanners costing £24m were installed at the international hub.

Edinburgh Airport is the first airport in Scotland to lift the rule. Birmingham airport has also lifted the rule.

There will be no limit on the number of containers that passengers can carry in their hand luggage, but metal water bottles will need to be emptied beforehand.

Items such as bottles of wine or large water bottles can also be taken on in cabin bags.

Smiths Detection A Smiths Detection airport security scanner with a blue suitcase in a tray on the conveyor belt. Smiths Detection

Eight scanners costing £24m have been installed at the international hub

Passengers using the airport are also able to keep large electricals, such as iPads, tablets and laptops, in their hand luggage.

Gordon Dewar, chief executive of Edinburgh Airport, said it would allow passengers to move through security more easily than they currently do.

But he said passengers should check security rules at their return destination as other airports may not have moved away from the 100ml limit.

“A whole generation of travellers have only known the 100ml rule to be the case, so it really is a momentous day as we become the first airport in Scotland to lift the rule since it was introduced in 2006,” he said.

“The change allows more flexibility for passengers to take liquids through security, all while maintaining and improving our high safety levels through the use of 3D technology.”

What are the rules at Scotland’s airports?

Passengers at Glasgow and Aberdeen airports can leave liquids and electronics items, such as laptops and tablets, in cabin bags while going through security.

Liquids, which include creams, gels, pastes, sprays and aerosols, can be taken through in containers of up to 100ml in volume without using a plastic bag.

There is no limit on how many 100ml items passengers can bring.

At Inverness and Glasgow Prestwick airports, liquids, laptops and other electronic devices, including hairdryers, cameras and straighteners, must be removed from cabin bags and placed in a tray.

Liquids in a container of 100ml or less should be placed in a sealed 20cm x 20cm, one litre plastic bag.

Each passenger can only take one of these bags.



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Capgemini to buy WNS to boost its business process services with AI – Computerworld

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For Gartner vice president analyst DD Mishra, WNS’s investments in intelligent automation, analytics, and agentic solutions including its TRAC analytics suite and Malkom knowledge management platform will complement Capgemini’s existing technology and consulting strengths.

Sharath Srinivasamurthy, research vice president at IDC, pointed to the acquisitions WNS has itself made in recent months, including Kipi.ai, Smart Cube, and OptiBuy to enhance its data, analytics, and procurement stack and extend its proficiency in business process operations, said.

However, Rajesh Ranjan, managing partner at Everest Group, views the WNS acquisition as more of a strategic play rather than being focused on garnering more agentic tools or capabilities.



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Locafy Launches AI-Powered SEO Suite Targeting 40M Business Market

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Locafy’s AI Search Platform Powers Visibility Across Organic and AI Search

New Product Lineup Tailored to Local, National, and e-Commerce Businesses

AI-Powered Tools Designed to Automate Engagement and Accelerate Online Presence

PERTH, Australia, July 07, 2025 (GLOBE NEWSWIRE) — Locafy Limited (NASDAQ: LCFY, “Locafy”), a globally recognized leader in location-based digital marketing, today unveiled its FY26 suite of AI-powered SEO products. These solutions, now commercially available following successful market testing, are designed to deliver measurable improvements across organic, AI, and marketplace search results.

Locafy initially outlined its AI-powered publishing roadmap in December 2024, promising to streamline content production and improve cost-effective online visibility for businesses.

“We are excited to announce that we’ve delivered on that promise,” said Gavin Burnett, CEO of Locafy.

All of Locafy’s publishing and SEO products are designed to drive visibility in search engines and, increasingly, AI-driven search tools and marketplaces. Recent research shows these optimizations extend across both traditional and emerging search platforms.

“We’ve evolved our technology to influence not only search engine rankings but also AI search results,” said Burnett. “Our platform helps position our clients’ websites as authoritative sources for high-value keywords, across local, national, and e-commerce campaigns.”

Burnett added, “We’ve also automated the creation of AI-search-ready landing pages, opening up a greenfield opportunity for scaled monetization. Our U.S. directory includes more than 9.68 million direct business listings, and our citation management partners publish more than 28 million business listings across our directories. Each of these represents either a direct sales opportunity or a chance to collaborate with partners using the data we already publish on their behalf.”

Locafy is focused on three primary solution categories:

  1. Online Business Listings
  2. Local SEO
  3. AI-powered engagement tools

Online Business Listings
Locafy continues to assert that online business listings form the cornerstone of successful Local SEO. These listings supply structured data that fuels automated SEO product generation. Locafy currently publishes more than 9.5 million listings in the U.S. and remains focused on partnerships with citation management firms and multi-location businesses. It is also exploring acquisitions of databases, directories, and citation management assets.

The Total Addressable Market (TAM) for the Local SEO solution in their key target markets of USA, Canada, Australia, and the UK is more than 40 million businesses.

“We currently host more than 63 million business listings worldwide, of which more than 40 million are in the U.S., Canada, Australia and the UK,” said Burnett. “However, our direct sales opportunity is more than 11.4 million, plus we have more than 28 million listings that we publish on behalf of partners, who can now connect to our Platform to automate the production of our Local SEO products for their clients.”

Country Partner Added* Claimed*
Australia 2,145,707 652,351
Canada 1,533,479 289,274
United Kingdom 3,458,205 802,003
United States of America 33,076,154 9,684,329
TOTAL 40,213,545 11,427,957

Local SEO
The flagship solution, Localizer, integrates listing syndication, AI-search optimization, review management, and Google Map Pack enhancement.

“We haven’t seen another product that combines these capabilities—at a price point starting around $690/month,” said Burnett. “Our customers get centralized control of reviews, consistent online presence, and high rankings in local map results, often within a short timeframe. Recent automation upgrades have made this level of value possible.”

AI-powered Engagement Tools
In addition to improving search visibility, Locafy has developed a scalable, cost-effective AI Voice Concierge that can serve as a virtual receptionist, product expert, or customer service agent.

“This is our first step into AI-enabled customer engagement,” said Burnett. “Our Voice Concierge acts like a digital team member—it can take bookings, provide answers, and interact 24/7. Just feed it your business documents and it learns. We record and transcribe every interaction, giving clients full transparency.

“This kind of capability once felt like science fiction, but it’s here now—and Locafy is helping businesses adapt and thrive in an AI-powered world.”

Over the past six months, Locafy has streamlined its product suite, automated key production processes, and validated product performance through live testing. With this foundation in place, the Company is poised for commercial growth in FY2026.

While the company still offers solutions for National SEO and e-Commerce, it believes the immediate opportunity afforded by its breakthroughs in AI Search represents a larger and more scalable revenue opportunity with far greater automation already in place.

About Locafy
Locafy (Nasdaq: LCFY, LCFYW) is a globally recognized software-as-a-service (SaaS) technology company specializing in local search engine marketing. Founded in 2009, Locafy’s mission is to revolutionize the US$700 billion SEO sector. The company helps businesses and brands improve search engine relevance and visibility in proximity-based search through a fast, easy, and automated platform. For more information, please visit www.locafy.com.

Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
(949) 574-3860
LCFY@gateway-grp.com




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