Germany’s manufacturing downturn unexpectedly deepens amid falling demand at home and abroad.
S&P Global’s PMI for the country’s industrial sector dropped to 42.3 from 45.5 the previous month – well below any economist estimate in a Bloomberg survey. The picture was brighter in France, where the contraction eased much more than analysts had predicted. Companies reported improving demand while expanding their workforce. Source: Bloomberg, HolgerZ
CME Group Debuts Bitcoin, Ethereum Futures For Europe
The CME Group will be launching euro-denominated micro Bitcoin and Ethereum futures next month, answering surging demand in the derivatives market. The Chicago-based trading firm announced on Tuesday that it would launch the crypto futures for the European market due to the popularity of U.S. dollar-denominated counterparts. The futures will launch on March 18, pending regulatory review. source : decrypt
Bloomberg city tracker European major cities
Berlin’s housing slump is over as shortage lures investors. The prospect of higher rents in the German capital is countering the downward pull of financing costs. Berlin rents jumped 20% YoY in Q4, faster than national average of 7.7%. As a side note, Athens' price jump is quite interesting Source: HolgerZ, Bloomberg
What‘s wrong with Europe in one chart.
These European companies have been in the automotive business for decades. Why are they so painfully slow to adapt to new reality? Source: Michel A.Arouet, Bloomberg
The EU’s tough new moderation rules are about to cover a lot more of the internet
The European Union’s Digital Services Act (DSA), a tough new piece of regulation that imposes new rules around content moderation and online advertising, is about to expand to cover huge swathes of the internet. Starting February 17th, the rules will apply to every online platform with users in the EU, in addition to the 19 Very Large Online Platforms (VLOPs) and Very Large Online Search Engines (VLOSEs) that have had to comply with the rules since last August. The DSA’s obligations include a ban on targeting underage users with ads based on their personal data, and targeting anyone based on sensitive data like sexual preferences or religious beliefs. When it comes to content moderation, sites will have to provide a reason to users when their content or account has been moderated, and offer them a way of complaining and challenging the decision. There are also rules around giving users the ability to flag illegal goods and services found on a platform. source : theverge
Europe is becoming an open air museum
Source: OECD
This chart shows either total management failure or how dismal things are in Germany as a business location with high electricity prices.
Thyssenkrupp's stocks have fallen by 62% over the past 5 years, while the competition, particularly from the US, has made strong gains. Source: Bloomberg, HolgerZ
Believe it or not, Germany is the Number 1 coal consuming country in the EU...
If one really cared about climate, would one shut down nuclear or coal power plants first? Source: Michael A. Arouet
