Amancio Ortega will burst into the number one spot on Spain's rich list on Wednesday when trading in his company, Inditex, floats on the Bolsa de Madrid.

Ortega, who is known as a quiet, thrifty executive, made a tidy €2.4bn ($2.1bn) from Inditex's initial public offering and has been reluctantly catapulted into stardom. His remaining 61% stake in the company is worth a further €5.6bn.

Michael Hoare

Inditex

Banco Bilbao Vizcaya Argentaria

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FCA adds crypto enforcement staff in bid to bring rogues to book

Audit watchdog sticks with flexible working amid Canary Wharf office shift

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The agreement settles claims that the lender facilitated $800 million of payments related to the looting of the Malaysian sovereign-wealth fund.

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European business activity continues to prove resilient into the second half of the year, surveys showed, despite the American trade tariffs that have weighed on some companies.

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The president and his allies accuse Powell of dragging his feet on interest-rate cuts, in a caustic and unprecedented pressure campaign.

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Inditex IPO creates reluctant celebrity

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