Eurozone Industrial Production Grows Further

German Recovery Slower on Weaker Manufacturing, Ministry Says

Germany’s economic recovery slowed recently due to weaker demand in the autos sector and declining machinery output, according to a government report Monday.

“The recovery in the German economy continues but has recently weakened,” the Economy Ministry said in its latest monthly report. “In the course of the year, the recovery should proceed but the pre-crisis level from late 2019 will only be reached by early 2022.”

Companies are more upbeat, while the outlook for Germany’s export industry is cautiously optimistic, the report said, citing an uncertain global economic outlook.

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Former Italian PM Berlusconi to leave hospital on Monday, party sources say

MILAN (REUTERS) – Former Italian prime minister Silvio Berlusconi will leave the Milan hospital where he was being treated after contracting the coronavirus two weeks ago, officials in his Forza Italia party said on Monday (Sept 14).

“The president will be discharged today at around midday,” the officials said in a message sent to journalists.

The 83 year-old was admitted to Milan’s San Raffaele hospital on Sept 4, suffering from mild pneumonia symptoms in both lungs after contracting Covid-19 while on holiday in Sardinia.

Police in Belarus detain 774 people at protests on eve of Putin summit

MOSCOW (REUTERS) – Police detained 774 people on Sunday (Sept 13) at huge anti-government protests across Belarus, including 500 people detained in the capital Minsk, the Belarusian Interior Ministry said on Monday (Sept 14).

At least 100,000 protesters flooded the streets of Minsk on Sunday to protest against embattled Belarusian leader Alexander Lukashenko who flew to Russia on Monday for talks with President Vladimir Putin.

Germany says French, Swedish labs confirm Navalny's Novichok poisoning

  • Army doctors at Berlin's Charite hospital were the first to say Navalny had been poisoned with Novichok.
  • The poisoning has brought tensions between Russia and Germany to new heights. 

Laboratories in Sweden and France have independently confirmed that Kremlin critic Alexei Navalny was poisoned with the
Soviet-style nerve agent Novichok, the German government said on Monday.

Government spokesman Steffen Seibert also said samples taken from the opposition politician, who is currently being treated in Berlin, had also been sent to the Organisation for the Prevention of Chemical Weapons (OPCW) in The Hague for tests in their labs.

Army doctors at Berlin's Charite hospital, to which Navalny was evacuated after taking ill on a flight over Siberia last month, were the first to say he had been poisoned with Novichok. Navalny awoke from a coma last week.

"Independently of the OPCW's investigations, three laboratories have now independently identified a military nerve agent as the cause of Mr. Navalny's poisoning," Seibert said.

Russia says it has seen no evidence that Navalny was poisoned.

The poisoning has brought tensions between Russia and Germany to new heights, fuelling calls for the Nord Stream 2 pipeline, a Kremlin flagship project to bring Russian gas direct to Germany under the Baltic Sea, to be scrapped.

"We renew our call for Russia to explain these events," Seibert said on Monday.

Red Ventures To Acquire CNET Media Group From ViacomCBS For $500 Mln – Quick Facts

Red Ventures, a portfolio of digital brands, announced Monday that it has entered into a definitive agreement to acquire CNET Media Group from ViacomCBS for $500 million.

CNET Media Group has built a dynamic portfolio of brands with well-earned authority on such topics as consumer tech and gaming that play an increasingly important role in people’s lives.

Mark Larkin, Executive Vice President and GM of CNET Media Group, and his senior team will remain with the company to continue their leadership of the CNET Media Group team following the acquisition.

Red Ventures was formed in 2000 as a performance marketing startup and has since grown to include more than 100 digital brands with more than 3,000 employees across 10 US cities, the UK and Brazil. Its existing brands operate in the Home Services, Health, Finance, Travel, Education, and Entertainment verticals.

The acquisition of the CNET Media Group accelerates Red Ventures’ entry into new verticals, including Consumer Tech and Gaming.

The transaction, which is expected to close in the fourth quarter of 2020, is subject to regulatory approvals and customary closing conditions.

Eurozone Industrial Production Grows Further

Eurozone industrial production grew at a slightly faster than expected pace in July, as the economy attempts to sustain its recovery from the slump caused by the coronavirus, or Covid-19, pandemic.

Industrial production rose 4.1 percent from June, when it grew 9.5 percent, which was revised from 9.1 percent reported initially, preliminary data from Eurostat showed on Monday. Production gained for a third straight month.

Economists had forecast a 4 percent increase.

Production growth continued to be driven by the manufacture of capital goods, which rose 5.3 percent. Durable consumer goods production grew 4.7 percent and output of intermediate goods increased 4.2 percent.

Manufacture of non-durable consumer goods increased 3.9 percent and energy output rose 1.1 percent.

Compared to the same month last year, industrial production fell 7.7 percent in July after a 12 percent slump in June, revised from 12.3 percent. Economists had expected an 8.2 percent decline.

Output had been decreasing in double-digits since March.

In the EU, industrial production grew 4.1 percent month-on-month after a 9.6 percent increase in the previous month. On a year-on-year basis, production decreased 7.3 percent following an 11.3 percent slump in June.

Among the member states, the biggest monthly increases were registered in Portugal, Spain and Ireland, while the worst falls were observed in Denmark, Latvia and Belgium.