20:50 [Zero Hedge] (E)
The start of approximately 400,000 job losses in the German automotive industry is already underway as the industry shifts towards electric vehicles, reported the Financial Times. Germany`s workforce is likely to contract by 1% in the next ten years as carmakers such as Audi, Mercedes-Benz, BMW, Volkswagen, and Porsche transition to electric car sales.
13:34 [TASS] (E)
Hungary has lost $8.5 billion since the European Union imposed economic sanctions on Russia, Hungarian Foreign Minister Peter Szijjarto told RTVI TV channel on Wednesday. "Since [the EU] imposed sanctions, a total of $8.5 billion were lost," Szijjarto said. "Russia was our second-largest trade partner before the sanctions. Of course, we lost many export opportunities," he added.
12:59 [Zero Hedge] (E)
And now, the final blow... Stunned and disconcerted, central bankers see that they are achieving none of their objectives and are simply turning their economies into drug addicts...