European Reality Check

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Euro zone economy posts surprise expansion in the fourth quarter, curbing recession fears

Euro zone narrowly avoided a contraction as energy prices provide some relief.
www.cnbc.com
 

Key events in EMEA next week

The Polish labour market is holding up well – we expect an upswing in unemployment this January, but the scale of increase should be rather moderate by…
think.ing.com
 
LONDON, Feb 20 (Reuters) - Britain and the European Union are edging closer to an agreement on solving a dispute over their post-Brexit trading arrangements with Northern Ireland, but any resolution hangs in the balance as it will have to please the demands of several parties.

Below are details on what the different parties want.

Explainer: What is the Northern Ireland protocol and what is the latest?

Britain and the European Union are edging closer to an agreement on solving a dispute over their post-Brexit trading arrangements with Northern Ireland, but any resolution hangs in the balance as it will have to please the demands of several parties.
www.reuters.com
 
COPENHAGEN, Feb 20 (Reuters) - Denmark should aim to reduce beef and dairy production by levying an emissions tax on farming of 750 Danish crowns ($108) per tonne in order to reach its ambitious climate targets, the government's independent adviser said on Monday.

Such a tax on farming will increase the incentive for farmers to switch to crops and pork production which emit less greenhouse gases than cattle, according to a report by the Danish Climate Council, which provides recommendations to the government.

Taxing farming vital for Denmark's climate target - govt adviser

Denmark should aim to reduce beef and dairy production by levying an emissions tax on farming of 750 Danish crowns ($108) per tonne in order to reach its ambitious climate targets, the government's independent adviser said on Monday.
www.reuters.com
 
LONDON/BRUSSELS (Reuters) - The price of carbon emissions permits in Europe's carbon market, the world's most established, hit a record high of 100 euros ($107) per tonne on Tuesday.

Here's what you need to know about the European Union's emissions trading system (ETS) and sectors affected by rising costs in the scheme:

 

U.K. grocery inflation reaches startling 17% as French and Spanish consumer price data surprise on the upside

It was a day for grim inflation readings in Europe, as one report showed the surge in costs at grocery stores in the U.K.
www.marketwatch.com
 

France seeks 'nuclear alliance' at EU energy meeting​

BRUSSELS, 27. FEB, 16:23

France is building an alliance of pro-nuclear states to advocate for expanding nuclear power in the bloc.

EU energy ministers are meeting on Monday and Tuesday (27 and 28 February) to discuss issues ranging from security of supply to the upcoming electricity market reform.

More:

France seeks 'nuclear alliance' at EU energy meeting

France is building an alliance of 12 pro-nuclear states to advocate for expanding nuclear power in the bloc.
euobserver.com
 
Europe’s benchmark natural gas prices fell in February for the third consecutive month, extending the monthly losing streak to the longest since 2020, as milder weather, comfortable inventories, and a plunge in demand dragged down prices.

European Natural Gas Prices Post Longest Monthly Losing Streak Since 2020 | OilPrice.com

European natural gas prices fell for the third consecutive month, the longest losing streak since 2020.
oilprice.com
 
LONDON (Reuters) - The European Union said on Wednesday it had reached a deal on the world's first set of comprehensive rules for issuing green bonds to meet the bloc's net zero goals, although compliance will be on a voluntary basis.

EU member states and the European Parliament jointly agreed on Tuesday standards for companies that want to use the term "European green bond" or EuGB.

 
UK logistics leaders have welcomed changes to the Northern Ireland Protocol contained in the ‘Windsor Framework’, announced by the UK and EU this week.

Representatives from retail, forwarding and customs in the UK said the deal – still subject to a vote by MPs – would not only reduce post-Brexit tension with the EU, but ease the flow of goods across the Irish Sea.

UK logistics welcomes the 'end of the Irish Sea border' - The Loadstar

UK logistics leaders have welcomed changes to the Northern Ireland Protocol contained in the Windsor Framework announced by the UK and EU.
theloadstar.com
 
ATHENS, March 7 (Xinhua) -- A bright future lies ahead for Sino-Greek cooperation in shipping, Chinese and Greek speakers told an event at Greece's Piraeus port on Tuesday.

"Cooperation between China and Greece came initially from the sea, and its future lies in the sea," said the president of the Association of Banking and Financial Executives of Hellenic Shipping at the event.

Bright future seen ahead for Sino-Greek shipping cooperation

Bright future seen ahead for Sino-Greek shipping cooperation-
www.chinaview.cn
 
  • UK childcare is among the most expensive in the world
  • 1.5 million UK mums would work more hours if childcare allowed
  • Finance minister Hunt urged to act on costs in March 15 budget
  • Research predicts childcare reforms could boost economic growth
  • Opposition Labour Party sees childcare pledge as vote-winner

Priced out of work by childcare, could UK parents hold key to growth?

Last year, mother-of-two Louise Sharples found herself turning down a new job she knew she would love because the cost of full-time childcare was more than she would have earned.
www.reuters.com
 
From the link:

LONDON, March 10 (Reuters) - New rules in Europe to crack down on greenwashing are not making it easier to spot genuine environmentally-friendly funds as asset managers continue to apply different standards for what constitutes sustainable investing.

More than 30 fund managers, consultants, lawyers and regulators interviewed by Reuters said that despite European Union rules demanding more disclosure, funds remained hard to compare and greenwashing difficult to spot.

Greenwashing crackdown in Europe leaves investors in the dark

New rules in Europe to crack down on greenwashing are not making it easier to spot genuine environmentally-friendly funds as asset managers continue to apply different standards for what constitutes sustainable investing.
www.reuters.com
 

The opportunity of Europe’s emerging economies

As a market, Eastern Europe has often found itself in the shadow of its Western counterparts – but the tide is turning. Here we analyse why Eastern Europe is such an exciting prospect as an emerging market and what opportunities it could present to customers.
www.maersk.com
 

Key events in EMEA next week

A relatively quiet week ahead for the EMEA regions. Given the Central Bank of Turkey cut the policy rate last month, and signalled that cuts would not be…
think.ing.com
 
As Sweden looks to reorganize its embattled 1 trillion kronor ($90 billion) pension system following an embezzlement scandal, the office overseeing the process says it won't accept applications from asset managers that don't incorporate ESG (Environmental, Social and Governance) into their strategies.

Sweden Bans Non-Woke Funds From $90 Billion Pension Pot | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
 
If Xi Jinping chooses to "befriend a war criminal, it is our duty to get very serious about China," Lithuania's foreign minister, Gabrielius Landsbergis, told DW when asked what he thought about the Chinese president's three-day visit to Moscow and his meeting with his Russian counterpart Vladimir Putin.

'Pandora's box': EU weighs changing relations with China – DW – 03/22/2023

China's show of solidarity with Russia displeased officials in Brussels, where concerns are growing that Beijing is considering supplying arms to Moscow. But for now there is no real desire to decouple from China.
www.dw.com
 
  • Europeans told "age of abundance" is over
  • Rising debt forces political choices on governments
  • More strikes loom unless compromises can be found

Analysis: Grievances mount in Europe with future wealth in doubt

In separate speeches last year, the leaders of France and Germany warned their citizens of hard times ahead as the global economy encountered challenges ranging from trade conflicts through to all-out war.
www.reuters.com
 
LONDON, April 11 (Reuters) - Investors poured $367 billion into U.S. money market funds in March, according to data provider EPFR, as the collapse of Silicon Valley Bank caused stocks to tumble and called the safety of bank deposits into question.

In Europe, investors put 17.7 billion euros ($19.35 billion) into euro-denominated money market funds in March, Refinitiv Lipper data shows, when the Credit Suisse crisis rocked markets.

Explainer: Why European money market funds inflows are lagging behind the US torrent

Investors poured $367 billion into U.S. money market funds in March, according to data provider EPFR, as the collapse of Silicon Valley Bank caused stocks to tumble and called the safety of bank deposits into question.
www.reuters.com
 
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