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☆ Germany’s economy is on shaky ground and glimmers of hope are few and far between
▼ + stars: | 2024-02-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

"The data confirm that German industry is still in recession," Holger Schmieding, chief economist at Berenberg Bank, told CNBC. Exports – which are a major cornerstone of the German economy – fell by 4.6% in December and 1.4%, or 1.562 trillion euros ($1.68 trillion), across the year. Meanwhile, factory orders data seemed promising at first glance as it reflected an 8.9% increase in December compared to November. "Orders excluding large-scale orders actually fell to a post-pandemic low," she added. For 2023 overall in comparison to the previous year, factory orders were down 5.9%.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Holger Schmieding, –, Franziska Palmas, Schmieding Organizations: Greens, Federal, Economic Affairs, of Finance, Berenberg Bank, CNBC, Industrial, Capital Economics Locations: Germany, Europe

☆ Real Madrid secures controversial 3-2 comeback victory that left opponent Almería feeling ‘robbed’
▼ + stars: | 2024-01-22 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

Then, Hernández Maeso ruled out what appeared to be a legitimate Almería goal after Bellingham went down clutching his face in agony in another VAR intervention. All three of the major VAR incidents left Almería – rock bottom of La Liga and without a win all season – feeling aggrieved at the full-time result. Isabel Infantes/Reuters“We leave with the feeling that the match was robbed today, it’s that clear,” midfielder Gonzalo Melero told reporters after the match. “The penalty, the goal with [Vinícius’] hand that makes a motion, the disallowed goal for a duel. The title race continues next weekend when Real Madrid travels to Las Palmas and Girona faces Celta Vigo.

Persons: Largie, Edgar González’s, Francisco Hernández Maeso, Kaiky Fernandes Melo, Jude Bellingham, halve, Hernández Maeso, Bellingham, Dion Lopy, Vinícius Jr, ’, Dani Carvajal, Largie Ramazani, Isabel Infantes, Gonzalo Melero, “, Carlo Ancelotti, ”, Almería, ” Vinicius, Pierre, Philippe Marcou Organizations: CNN, Real, La Liga, Reuters, ” Real Madrid, Girona, Sevilla, Real Madrid, Celta Vigo Locations: Vinícius, AFP, Las Palmas

☆ Brazil's Lula welcomes citizens rescued from Gaza, condemns 'inhumane violence'
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

Lula greeted passengers with hugs and kisses after their arrival late on Monday evening, offering his support to Brazilians still in or arriving from the Gaza Strip and condemning the killing of civilians in Gaza. "I have never seen such brutal, inhumane violence against innocent people," Lula said in a short speech on the tarmac. The Gaza Strip has been under bombardment by Israel, which aims to annihilate Hamas, the militant group which runs the Gaza Strip and which attacked Israel from Gaza on Oct. 7, killing around 1,200 people. Gaza medical authorities say more than 11,000 people there have been confirmed killed, with about 40% of them being children. Lula echoed earlier criticisms of both Hamas for its attack against Israel and Israel for its reaction.

Persons: Luiz Inacio Lula da Silva, Lula, Peter Siqueira, Gabriel Araujo, Kylie Madry, Brendan O'Boyle, Raju Gopalakrishnan Organizations: SAO PAULO, Monday, Brasilia Air Base, Embraer, Gaza, South American, West Bank, Thomson Locations: Gaza, Rafah, Egypt, Cairo, Brazil, Las Palmas, Spain, Israel

☆ Brazil's Lula Welcomes Citizens Rescued From Gaza, Condemns 'Inhumane Violence'
▼ + stars: | 2023-11-13 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

Persons: Luiz Inacio Lula da Silva, Lula, Peter Siqueira, Gabriel Araujo, Kylie Madry, Brendan O'Boyle, Raju Gopalakrishnan Organizations: SAO PAULO, Reuters, Monday, Brasilia Air Base, Embraer, Gaza, South American, West Bank Locations: Gaza, Rafah, Egypt, Cairo, Brazil, Las Palmas, Spain, Israel

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsSummary Industrial output down 0.2% in Aug vs down 0.1% forecastEconomists expect further contraction in coming monthsBERLIN, Oct 9 (Reuters) - German industrial output shrank in August for the fourth consecutive month, the federal statistics office said on Monday, an indication that the sector remains under serious pressure, stoking recession fears. Industrial production fell slightly more than expected in August by 0.2% compared to the previous month. The further drop in German industrial production in August was better than it looked as it was driven by volatile components, said Franziska Palmas, senior Europe economist at Capital Economics. However, she continued to expect high interest rates and falling demand to lead to a further contraction in German industrial output in the coming months. "Thin order books despite last week's increase, and high inventories all indicate that German industrial production will continue moving sideways rather than gaining momentum anytime soon," ING's global head of macro Carsten Brzeski said.

Persons: Wolfgang Rattay, Franziska Palmas, Destatis, Carsten Brzeski, Brzeski, Friederike Heine, Maria Martinez, Ozan Ergenay, Gerry Doyle, Sonali Paul Organizations: REUTERS, Reuters, Capital Economics, Thomson Locations: ThyssenKrupp, Duisburg, Germany, BERLIN, Europe, Palmas

Ever pack workout clothes for a vacation — only to unpack them, unworn, upon returning home? Data from exercise apps, which track users' physical locations and search history, show travelers tend to be more active in some locations more than others. Fitness app Strava shows travelers tend to exercise when they visit smaller cities in Europe. Conversely, the company's data shows travelers are less active, compared to locals, in parts of the Caribbean and Central America, namely:Trinidad and TobagoDominican RepublicPhilippinesVenezuelaCosta RicaThose who struggle to exercise on vacation can take heart in knowing that even active travelers tend to ease up from their usual routines on holiday. Nearly four in 10 runners cut their running times by at least 30% during their summer vacations in 2022, according to Strava's data.

Organizations: Portugal Las Palmas, Spain Nord, Trinidad and Tobago Locations: Europe, Split, Croatia Dodecanese, Greece Lagos, Portugal, Spain, Aurdal, Norway, Nord, Norway's, Lillehammer, Caribbean, Central America, Trinidad and, Trinidad and Tobago Dominican Republic Philippines Venezuela Costa

☆ Diaz and Joselu on target as wasteful Real sink Las Palmas
▼ + stars: | 2023-09-27 | by ( Fernando Kallas | ) www.reuters.com time to read: +2 min

MADRID, Sept 27 (Reuters) - Real Madrid bounced back from their painful derby loss with a 2-0 home LaLiga win over lowly Las Palmas on Wednesday thanks to goals from Brahim Diaz and Joselu. The hosts were by far superior side but squandered more than a dozen clearcut chances in the first half, with Diaz and Joselu missing sitters from close range. Arda Guler, who was expected to be available against Las Palmas after recovering from a knee operation, sustained a thigh injury in training that will further delay his debut for the team. Vinicius did come off the bench in the second half after missing four consecutive games for his club. Real moved up to second place on 18 points, leapfrogging third-placed Barcelona who were held to a 2-2 draw by Mallorca on Tuesday.

Persons: Brahim Diaz, Joselu, Carlo Ancelotti, Jude Bellingham, Diaz, Alvaro Valles, Lucas Vazquez, David Alaba, Dani Carvajal, Ferland Mendy, Vinicius Jr, Thibaut Courtois, Eder Militao, Arda Guler, Vinicius, it's, Movistar, Fernando Kallas, Ed Osmond Organizations: Madrid, Las Palmas, Real Madrid, Atletico Madrid, Las, Real, Mallorca, Tuesday, Villarreal, Wednesday, Thomson Locations: MADRID, Las, Las Palmas, Rodrygo, Barcelona, Girona

☆ Barcelona held to 2-2 draw at Mallorca
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

PALMA DE MALLORCA, Sept 26 (Reuters) - Barcelona twice fought back to secure a 2-2 draw at Mallorca on Tuesday, maintaining their unbeaten start to the LaLiga season. We are giving too many chances," Barcelona midfielder Oriol Romeu told DAZN. Mallorca took their foot off the gas in the second half and Barca substitute Fermin Lopez tapped home Raphinha's low cross from the right to make it 2-2 in the 75th minute. "The problem was our defensive errors, these are improper mistakes that shouldn't happen, especially in this type of tight, intense match," Barcelona coach Xavi Hernandez said. Barcelona host Sevilla on Friday, before travelling to Porto for their second Champions League group stage match.

Persons: We've, Oriol Romeu, DAZN, Vedat Muriqi, Marc, Andre ter Stegen, Raphinha, Abdon Prats, Mallorca's, Predrag Rajkovic's, Fermin Lopez, Xavi Hernandez, Janina Nuno Rios, Toby Davis Organizations: PALMA DE MALLORCA, Mallorca, Barca, Wednesday, Villarreal, Real Madrid, Las Palmas, Barcelona, Sevilla, Champions League, Thomson Locations: Barcelona, Girona, Real, Porto, Mexico

☆ Real Madrid's Guler suffers new injury blow
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +1 min

MADRID, Sept 26 (Reuters) - Real Madrid's close-season signing Arda Guler has sustained a thigh injury, the LaLiga club said on Tuesday, in another setback for the midfielder that will further delay his debut for the team. "After the tests carried out on our player Arda Guler, he has been diagnosed with an injury to the left rectus femoris muscle," Real said in a statement. The 18-year-old Turkey international returned early from the club's pre-season tour with a knee injury, for which he underwent surgery in August. Guler returned to training a few days ago, but his latest injury has thwarted his anticipated debut against Las Palmas on Wednesday. The club did not give details about his recovery, but Spanish media reported he could be out for three weeks.

Persons: Arda Guler, Real, Guler, Dani Carvajal, Vinicius Jr, Thibaut Courtois, Eder Militao, Javier Leira, Janina Nuno Rios, Toby Davis Organizations: Turkey, Las Palmas, Thomson Locations: MADRID

☆ Germany risks falling back into recession as car industry sputters
▼ + stars: | 2023-08-07 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Industrial production in Europe’s biggest economy fell 1.5% in June compared with May, driven by a 3.5% drop in Germany’s vast automotive sector. The decline in German industrial output, much steeper than forecast by economists, raises the risk that the manufacturing heavyweight will contract again later this year, potentially falling back into recession. The construction sector, where output shrank by 2.8%, also had a negative impact on overall industrial production, the country’s statistics office said Monday. “German industry remains in rough waters,” Salomon Fiedler, economist at Berenberg, said in a note Monday, noting last year’s energy price shock and weakness in US and Chinese demand, among other factors. Berenberg expects Germany to fall back into “a mild recession” in the second half of this year, Fiedler added.

Persons: “, ” Franziska Palmas, Jörg Krämer, Hildegard Müller, ” Salomon Fiedler, Fiedler, — Mark Thompson, Anna Cooban Organizations: London CNN —, Capital Economics, Auto, German Automotive Industry Association, Volkswagen Locations: Germany, Europe, China, Russia, Ukraine, “

Gross domestic product (GDP) contracted by 0.3% on a quarterly basis between April and June and was up 0.6% year-on-year, national statistics bureau ISTAT said. ISTAT gave no numerical sector breakdown of its preliminary second-quarter GDP estimate, but said industry and agriculture output decreased whereas services grew marginally. The 0.3% contraction left Italy with so-called "carryover" growth of 0.8% this year, assuming GDP would be flat in the remaining two quarters. "Italy is an advanced industrial country and the weakness in industry is much more important than the tourism sector for the economy's health," said Lorenzo Codogno, head of LC Macro Advisors and former chief economist at Italy's Treasury. ISTAT also said annual inflation slowed to 6.4% in July from 6.7% in June, on a EU-harmonised consumer prices.

Persons: Giorgia Meloni, Franziska Palmas, Intesa, Lorenzo Codogno, Alvise Armellini, Elvira Pollina, Sharon Singleton, Alistair Bell Organizations: Gross, Reuters, Capital Economics, ISTAT, LC Macro Advisors, Italy's Treasury, Thomson Locations: ROME, Italy, Rome, Milan

☆ Far From the Tour de France, Colombia Falls Hard for Cycling
▼ + stars: | 2023-07-12 | by ( James Wagner | More About James Wagner | ) www.nytimes.com time to read: +1 min

The route up Las Palmas starts near the valley floor, but it doesn’t stay there for long. Some riders stop at the lookout point halfway up for the views of the city and don’t continue. “Not everyone dares come up here,” Anderson Murcia, 37, said in Spanish as he stopped briefly to drink water and snap photographs on a recent morning. The top of Las Palmas, though, is more than a vantage point, a rest stop high above Medellín and its 2.5 million residents. In some ways, the popular route is also a perfect place to take the measure of a sport that has made Colombia the cycling epicenter of Latin America.

Persons: ” Anderson Organizations: Las Locations: Las Palmas, don’t, cycling’s, ” Anderson Murcia, Colombia, America

☆ Spanish coastguard rescues two Nigerian migrants from ship's rudder
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

Polic?a... Read moreMADRID, July 11 (Reuters) - The Spanish coastguard rescued two Nigerian migrants who stowed away on the rudder of a ship that arrived in the Canary Islands from Togo, a coastguard spokesperson and the police said on Tuesday. After being rescued on Monday night in the port of Las Palmas, the migrants were taken to a hospital. The container ship's last stop before reaching the Spanish archipelago off the African coast was Lome, Togo's capital, said the coastguard spokesperson without elaborating. In a similar case in November last year, the Spanish coastguard rescued three African stowaways who had arrived in the Canary Islands after enduring 11 days on the rudder of a fuel tanker from Nigeria. The Spanish-owned Canary Islands are a popular but dangerous gateway for African migrants attempting to reach Europe.

Persons: Read, Joan Faus, Sharon Singleton Organizations: Spanish coastguard, Las Palmas de, Las Palmas de Gran Canaria, coastguard, Twitter, MSC, Guardia Civil, La Provincia, Thomson Locations: Canary, Togo, Las Palmas, Las Palmas de Gran, Spain, MADRID, Palmas, Spanish, Lome, Togo's, Lagos, Nigeria

Another 25% will come from "next-generation" materials in which the group is investing, and the remaining 10% from other sustainable sources, the company said. The new targets come as the European Commission is drawing up regulations to make clothing retailers pay for the waste they produce, arguing that fast-fashion companies "encourage customers to shop impulsively and incentivise purchasing larger quantities of clothes". Inditex previously had targets to use more sustainable cotton, linen, polyester, and fibres made from wood pulp, but did not have an overall goal for recycled fibres. Shoppers walk past a Zara clothes store, part of the Spanish group Inditex, in Las Palmas de Gran Canaria, Spain, December 13, 2022. REUTERS/Borja Suarez/File Photo"Moving forward on sustainability is natural for us," said Inditex Non-Executive Chair, Marta Ortega, in brief comments to investors at the AGM.

Persons: Inditex, Oscar Garcia Maceiras, Borja Suarez, Marta Ortega, Ortega, Adam Gofton, Corina Pons, David Latona, Helen Reid, Andrei Khalip, Mark Potter, Sharon Singleton Organizations: Companies Zara, European Commission, Las Palmas de, Las Palmas de Gran Canaria, REUTERS, Mackenzie Investments, Thomson Locations: MADRID, LONDON, Zara, Spanish, A Coruna, Spain, Las Palmas, Las Palmas de Gran, Toronto, Inditex, Madrid, London

☆ A professor found $550,000 of 'floating gold' in the entrails of a dead sperm whale. Here's why ambergris is so expensive.
▼ + stars: | 2023-07-08 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

A professor found a lump of ambergris, or "floating gold," worth 500,000 euros in a dead whale. The stone, which was worth 500,000 euros, or around $545,000, was made of ambergris — a strange, naturally-occurring substance that's known as "floating gold." It can be judged by the color of the ambergris, with black having the least ambrein and white the most. Top perfumes are usually made with white ambergris, while substitute chemicals are used in cheaper ones. In 2021, a group of fishermen in the Gulf of Aden sold a chunk of ambergris worth around $1.5 million to a buyer in the United Arab Emirates.

Persons: Antonio Fernández, Alexis Rosenfeld, Richard Sabin Organizations: Service, of Animal Health, Food Security, Universidad, Las Palmas de Gran Canaria, National Geographic, United, United Arab Emirates, BBC Locations: Wall, Silicon, La, Gulf, Aden, United Arab

☆ Drop in German business morale points to longer recession
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +4 min

Summary Business climate index fell to 88.5 in June from 91.5 in MayBoth business expectations and current business conditions fellProbability of longer recession risesBERLIN, June 26 (Reuters) - German business morale worsened for the second consecutive month in June, a survey showed on Monday, indicating that Europe's largest economy faces an uphill battle to shake off recession. "Sentiment in the German economy has clouded over noticeably," Ifo's president Clemens Fuest said. Indeed, expectations were much more pessimistic, with the related Ifo index falling to 83.6 from May's 88.3. "The probability has increased that gross domestic product will also shrink in the second quarter," he said. "We feel confirmed in our forecast that the German economy will shrink again in the second half of the year," Commerzbank's chief economist Joerg Kraemer said.

Persons: Clemens Fuest, Carsten Brzeski, Brzeski, Klaus Wohlrabe, Urban, Franziska Palmas, Joerg Kraemer, Maria Martinez, Rene Wagner, Friederike Heine, Matthias Williams, Hugh Lawson Organizations: ING, Companies, Reuters, Oxford Economics, Capital Economics, Thomson Locations: BERLIN, U.S, Germany, German, Europe

☆ Amputee surfer making waves in the sport
▼ + stars: | 2023-06-12 | by ( Borja Suarez | ) www.reuters.com time to read: +1 min

[1/5] Sarah Almagro, 23, trains with her coach Javier Donoso, during the adaptive surfing Open LPA Surf City, Las Palmas, Gran Canaria, Spain, June 11, 2023. REUTERS/Borja SuarezLAS PALMAS DE GRAN CANARIA, June 12 (Reuters) - When Sarah Almagro was 18 she suffered meningococcal meningitis and surgeons had to amputate both her hands and feet. Almagro was among the competitors who took part in the Open LPA Surf City 2023 championship in Playa de las Canteras in Gran Canaria on Saturday. Adaptive surfing refers to surfing where people with disabilities adapt their techniques and equipment in order to be able to practise the sport. Surfing will not be part of the Paralympics next year in Paris, but Almagro hopes it will chosen as a sport for the Games from 2028.

Persons: Sarah Almagro, Javier Donoso, Borja Suarez, Almagro, Graham Keeley, Toby Davis Organizations: Gran Canaria, REUTERS, Borja Suarez LAS PALMAS DE GRAN CANARIA, Reuters, Games, Thomson Locations: Las Palmas, Gran, Spain, United States, Playa de las, Malaga, Paris

☆ German industrial orders fall unexpectedly in April
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - German industrial orders fell unexpectedly in April, dragged down by large-scale orders, data from the federal statistics office showed on Tuesday. Industrial orders fell by 0.4% on the previous month on a seasonally and calendar adjusted basis. Excluding large-scale orders, there was an increase of 1.4% in April compared to the previous month. Year-on-year, industrial orders were down 9.9% in April. Domestic orders rose by 1.6%, while foreign orders sank by 1.8% on the previous month, the statistics office data showed.

Persons: Holger Schmieding, Schmieding, Franzisca Palmas, Maria Martinez, Anastasiia, Rachel More Organizations: Reuters, Companies, Capital Economics, Thomson Locations: Franzisca, Europe, Berlin, Gdansk

☆ Inflation in Europe drops to lowest level since Russia invaded Ukraine
▼ + stars: | 2023-06-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Inflation in Europe has fallen to its slowest pace since Russia invaded Ukraine, bolstering the case for the region’s central bank to bring interest rate hikes to an end soon. That’s the lowest rate of inflation since February 2022, when Moscow launched a full-scale invasion of its neighbor, sending global energy prices soaring. The pace of food price rises eased for the second month running in May, while energy prices actually fell. Inflation has fallen sharply in Germany, France, Italy and Spain, national data published Wednesday showed. Separate data published Tuesday showed lending by banks in the euro area stagnated further in April, with loans to households barely growing at all.

Persons: Price, Christine Lagarde, ” Lagarde, ” Franziska Palmas, ”, Bert Colijn Organizations: London CNN, Russia, European Central Bank, ECB, US Federal Reserve, Bank of, Capital Economics, ING Locations: Europe, Ukraine, Moscow, Germany, France, Italy, Spain, Bank of England, Palmas

☆ German economy enters recession as first-quarter GDP data is revised lower
▼ + stars: | 2023-05-25 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

The German economy entered a technical recession in the first quarter of this year, as households tightened spending. Data from the German statistics office on Thursday showed a downward revision to GDP (gross domestic product) from zero to -0.3% for the first three months of the year. The European Central Bank is expected to raise rates again at its next meeting on June 15. German Central Bank Governor Joachim Nagel said earlier this week that the ECB has "several" more rate increases ahead. He is one of the most hawkish members of the central bank.

☆ Spanish scientists seek to crack mystery of Canaries skeleton cave
▼ + stars: | 2023-05-09 | by ( Borja Suarez | ) www.reuters.com time to read: +1 min

Evidence at the Caleta de Arriba site points to a violent death centuries ago which could pre-date the 15th century Spanish conquest of the archipelago off northwest Africa. This is a funerary practice that denotes very strong symbolic violence," explained Veronica Alberto, head of the excavation. [1/6] Archaeologist Veronica Alberto from Tibicena, an archaeology company, works on the extraction of human remains, in Galdar, on the island of Gran Canaria, Spain March 9, 2023. Without objects to help establish the period, scientists are waiting for radiocarbon dating tests on the bones. All six had strong arms, suggesting they were involved in the same type of physical activity.

"The German economy remained stuck in the mud at the start of 2023, only barely avoiding recession," Pantheon Macroeconomics' chief eurozone economist Claus Vistesen said. The German economy shrank by a revised 0.5% in the fourth quarter of 2022 compared with the previous three months, reviving fears of a technical recession, defined as two consecutive quarters of contraction. "A gradual recovery is underway, despite a persistently difficult environment," German Economy Minister Robert Habeck said in the presentation of the forecasts. "The recent renaissance in industrial production could very well carry the economy through the second quarter," ING's global head of macro Carsten Brzeski said. "However, we are afraid that looking into the second half of the year, the German economy will continue its flirtation with recession."

☆ German industrial output rises more than expected in February
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 6 (Reuters) - German industrial production rose significantly more than expected in February due in part to vehicle manufacturing, increasing 2.0% on the previous month, the federal statistical office said on Thursday. "Despite the strong rebound, industrial production is still slightly below its pre-pandemic level." Industrial output is expected to increase further in the coming months. Pantheon Macroeconomics forecasts that industrial production will post a 3.0% quarter-on-quarter expansion in the first quarter, comfortably reversing the 0.5% decline in the fourth quarter. Year-on-year, industrial production rose 0.6% in February.

☆ Euro zone services firms enjoy buoyant March but factories struggle -flash PMI
▼ + stars: | 2023-03-24 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

REUTERS/Jon Nazca/File PhotoSummary Euro zone March flash PMI at 54.1, a 10-month highData adds to evidence euro zone will dodge recessionGrowth unbalanced, however, as factory activity fallsLONDON, March 24 (Reuters) - Business activity across the euro zone unexpectedly accelerated this month as consumers splashed out on services, but weakening demand for manufactured goods deepened the downturn in the factory sector, surveys showed. S&P Global's flash Composite Purchasing Managers' Index (PMI), seen as a good gauge of overall economic health, bounced to a 10-month high of 54.1 in March from February's 52.0. SERVICES SHINEA PMI covering the euro zone's dominant services industry jumped to 55.6 this month from 52.7, well above all forecasts in the Reuters poll which had predicted a decline to 52.5. An index measuring output, which feeds into the composite PMI, slipped back below breakeven to 49.9 from last month's 50.1. The euro zone PMI input costs index slipped to 46.4 from 50.9.

☆ Spanish police seize cocaine worth $114 million from cattle ship
▼ + stars: | 2023-01-28 | by ( Borja Suarez | ) www.reuters.com time to read: +1 min

MADRID, Jan 28 (Reuters) - Spanish police seized 4.5 tonnes of cocaine with an estimated street value of 105 million euros ($114 million) after raiding a cattle ship off the Canary Islands earlier this week, a statement said on Saturday. "International organisations are reinventing themselves to transport drugs from Latin America to Europe, using livestock to make the control and localisation more difficult," the Spanish police statement said. Police arrested 28 crew members on the Togo-flagged Orion V, which had been trailed from Colombia in an operation by Spanish authorities, the U.S. Drug Enforcement Administration and Togo police. Officers unloaded dozens of boxes containing the cocaine on the port side in Las Palmas on the island of Gran Canaria. ($1 = 0.9202 euros)Additional reporting by Graham Keeley and Miguel Gutierrez Editing by Helen PopperOur Standards: The Thomson Reuters Trust Principles.

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