AGP Executive Report
Last update: 11 hours agoGerman Economy Watch: German factory orders fell 10.6% month-on-month in August, worse than expected, with the drop driven largely by a steep fall in “other transport equipment” (including aircraft, ships, trains and military vehicles), underlining how fragile the recovery remains. EU Trade Tensions: France and Germany are pushing for a faster, broader EU trade defense tool akin to the US “Section 301” approach, with China likely in focus—prompting criticism that it’s unilateral and could damage EU competitiveness and the trade relationship. Banking & Deals: BPCE bought a 7% stake in Spain’s Sabadell, aiming for long-term cooperation in corporate/investment banking and consumer credit as European banking consolidation gathers pace. Fintech & Markets: Spiko, a tokenised cash fund platform headquartered in Paris and London, raised €80.03m in Series B funding led by NEA, with former Bundesbank president Axel Weber among participants. Cyber Risk: Asos is investigating after customers received app notifications claiming hackers “fully compromised” a Snowflake instance, sparking fears of a data breach. Robotics Boom: German startup RobCo hit a $1bn valuation after a secondary share transaction, as it expands in the US and prepares its next-generation system, Alfie. Energy Costs: Germany’s steel industry warns that support for grid charges must continue as transmission costs are set to rise more than 20% in 2027, threatening competitiveness.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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