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German analyst and investor morale dropped in July for a seventh straight month to its lowest level since December 2012, a leading survey showed on Tuesday, suggesting the third quarter got off to a shaky start for Europe’s biggest economy.
Mannheim-based think tank ZEW’s monthly survey of economic sentiment fell to 27.1 in July, missing the consensus forecast in a Reuters poll for a reading of 28.0 as political risk in the Middle East weighed on the mood.
According to the Federal Cartel Authority, some of Germany’s most successful sausage producers have been colluding for decades to fix prices of sausages and related products.
The cartel has been dubbed the “Atlantic Circle” – named after the Hotel Atlantic in Hamburg where the sausage producers first met. According to the cartel authority, 21 producers and 33 individuals, all of whom will share the fine, made concrete agreements to jointly raise prices to the detriment of consumers.