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Eurozone inflation rises to 3.8% in September, Tagesschau reports
Eurozone inflation reached 3.8% in September, its highest level since September 2023, according to Tagesschau. The outlet attributed the increase to high energy prices.
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DAX returns above 25,000 ahead of US jobs data after closing below key level
Germany’s DAX moved back above 25,000 on October 2 ahead of US employment data, according to tagesschau. The recovery followed its first close below that level since July, with the broadcaster citing rising energy prices and bond yields as pressures on stocks.
Galeria files for fourth insolvency in six years, tagesschau reports
Germany’s department store chain Galeria has filed for insolvency for the fourth time in six years, according to tagesschau. The report says the future of around 12,000 employees across 83 stores is unclear.
Amazon temporarily restores earlier Prime price for longtime customers after German ruling
Amazon has temporarily restored the previous Prime subscription price for longtime customers after Germany’s Federal Court of Justice ruled a price increase unlawful, tagesschau reports. Affected customers can also seek refunds, according to the report.
G7 plans to release oil reserves amid high fuel prices, tagesschau reports
G7 countries plan to release oil reserves in response to high fuel prices, according to tagesschau. The outlet reports that the United States had previously pressed European G7 members to act.
G7 plans 100 million-barrel oil reserve release over four months, Al Jazeera reports
Macron said the G7 would release 100 million barrels from oil reserves over four months, according to Al Jazeera English. The outlet also reported that diesel releases would be concentrated early in the period and that Trump welcomed a diesel deal involving Europe.
Hormuz crude exports near pre-war levels as alternative routes help, Guardian reports
Crude exports from the Strait of Hormuz have largely recovered to levels preceding the Iran war, The Guardian reports, as producers and shippers use alternative transport methods. Refined fuel exports, including diesel, remain restricted, putting upward pressure on prices.