Wed. Sep 30th, 2020

German factory recession deepens; UK house prices jump – business live

Rolling coverage of the latest economic and financial news, as German industry continues to struggle badly

12.54pm GMT

If you’re just tuning in, here’s Associated Press’s take on this morning’s weak German factory data:

October factory production dropped in Germany over the previous month in another sign the economy, Europe’s largest, is struggling.

The Federal Statistical Office reported Friday that industrial production fell 1.7% in October over September when adjusted for price, seasonal and calendar factors. It was down 5.3% over October 2018.

12.39pm GMT

Sébastien Desreumaux, CEO of Eddie Stobart, says the firm can now crack on with shifting goods around the UK in the big Christmas rush:

“The Proposed Transaction provides Eddie Stobart with the opportunity to move forward and look to deliver sustainable growth and profitability from a stable footing.

Our main priority and focus is now continuing to deliver the high levels of services expected by our customers as we move into the busy Christmas period.”

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