HPS Europe

@HPSInsight across the Atlantic on all things European economics, finance, trade, & policy. Analytical public affairs in service of better policy outcomes.

[HPS Europe @HPSInsight_Eur]

From tchotchkes to rare collectibles, sales of Queen Elizabeth II souvenirs are soaring after her passing. The value of Queen Elizabeth II items collected through the years, especially those made of silver and gold, are set to increase, via @jackiepeiser https://t.co/7tt81QsRTp

[HPS Europe @HPSInsight_Eur]

With remote work creating more distance between employers and employees, companies are turning to free merchandise to boost culture and morale. Merchandise orders in the UK average as high as £100/employee, up from £40 pre-pandemic, via @janinaconboye https://t.co/RaElAklNJF

[HPS Europe @HPSInsight_Eur]

As the majority of UK companies prepare to renegotiate electricity rates this fall, experts warn that commercial energy bills could rise up to 4x from 2020 and potentially drive job cuts, via @mroliverbarnes https://t.co/2m4XygdbK2

[HPS Europe @HPSInsight_Eur]

Available office space in London is at a 15-year high, while commercial square footage for rent is up 51% since 2021. Remote work has driven the surplus of commercial space in the city, via @livfletcher_ https://t.co/RTTSy5dp9n

[HPS Europe @HPSInsight_Eur]

This summer's warm weather has threatened Europe's energy production. Nuclear power has particularly struggled, with some plants forced to shut down because rivers are too warm to cool reactors, via @jasondhorowitz
https://t.co/xMIVPVJyN7

[HPS Europe @HPSInsight_Eur]

European gas prices have hit 13x the previous decade's average, hurting energy-reliant industries like smelting. Aluminum smelters in Slovakia and the Netherlands have been forced to halt production, imperiling hundreds of full-time jobs, via @harrydemps https://t.co/MIbZpPim8u

[HPS Europe @HPSInsight_Eur]

Inflation in the UK broke double digits at 10.1% YoY in July, marking the highest rate for wealthy countries. Even as inflation in the US cools, inflation continues to rise across Europe, in large part due to the energy crisis, via @PaulHannon29 https://t.co/G1BHFp9gmS

[HPS Europe @HPSInsight_Eur]

Grocery stores across the U.K. are reducing the use of food labels like "best by" and "sell by," which often indicate the quality of food, but not the safety. The move comes as retailers are pushing to reduce food waste, via @DollyDeighton https://t.co/0th20neyBA

[HPS Europe @HPSInsight_Eur]

France is facing a mysterious Dijon mustard shortage. French manufacturers get 80% of their mustard seeds from Canada, but a drought halved harvests. Stocks won't improve until 2023, so France is stuck with alternative condiments for now, via @TheEconomist https://t.co/6MSvppSwMU

[HPS Europe @HPSInsight_Eur]

Cost of living continues to rise in the U.K., with energy bills expected to reach over $5,088 per year from January. @EndFuelPoverty predicts that nearly one in three U.K. households will be in fuel poverty from Jan. 1, via @hannahswg https://t.co/VEEHHto26S

[HPS Europe @HPSInsight_Eur]

Drought has left the Rhine River impassable, blocking key energy product shipments during the worst European #energycrisis in decades. This has led to surging factory costs & threatened to put major economies near recession, via @JWittels @WillWilkesNews https://t.co/uSNW3VaWbE

[HPS Europe @HPSInsight_Eur]

U.S. export volume of wood pellets is on the rise, as it works to replace the 3 M metric tons that usually flow from Russia, Belarus, & Ukraine to Western Europe. The avg price before expenses is ~$170/metric ton, up $30 from 2021, via @RyanDezember https://t.co/DUqJRcsvlG

[HPS Europe @HPSInsight_Eur]

Inflation is squeezing budgets across the pond. 51% of Britons cut back on energy consumption from March to June in response to soaring gas and electricity prices, via @zoewoodguardian https://t.co/XzAwCIjLNz

[HPS Europe @HPSInsight_Eur]

Businesses in England and Wales are facing liquidation as they struggle without COVID-19 relief programs. Total insolvencies surged 81% from April-June last year, with many filing for creditor's voluntary liquidation, via @reuters https://t.co/ZinYLuH2RU

[HPS Europe @HPSInsight_Eur]

Heat waves across Europe are threatening olive harvests, with refined olive oil prices in Spain rising 8.3% YoY last month and expected olive oil output from Italy dropping 20-30% YoY, via @JuliaKollewe https://t.co/uFnXIh6uZG

[HPS Europe @HPSInsight_Eur]

The Eurozone's GDP grew at a higher-than-expected rate of 0.7% in Q2 2022, driven largely by a surge in tourism in countries like Spain, Italy, and France. The growth provides some needed optimism as inflation soars to new highs, via @olafstorbeck https://t.co/RAGDeFSrx4

[HPS Europe @HPSInsight_Eur]

The @ifo_institut index of business confidence in Germany sank to a two-year low as consumer prices rose 8.2% in June and the gas crisis threatens to halt factory production in German industrial centers like Hanover and Frankfurt, via @MAmdorsky https://t.co/IwzVQwESNR

[HPS Europe @HPSInsight_Eur]

London real estate investors are cutting back on buying office spaces as interest rates rise. European office values may fall as much as 12% in the next 18 months as fears of recession grow, via
@GeorgeNHammond https://t.co/hA5LWyj9tW

[HPS Europe @HPSInsight_Eur]

As energy and food bills rise, a total of 1.66 million streaming accounts were cancelled across Britain in Q2 2022. Customers under 24 were the most likely to cancel, choosing to turn back to social media and free services, via @BBCNews https://t.co/m7HX5TmNHy

[HPS Europe @HPSInsight_Eur]

Americans are taking advantage of the dollar's strength relative to the euro by splurging on vacations across the pond. U.S. travelers spent 56% more money in Europe in June than they did during the same period in 2019, via @jepassy & @aysekelce https://t.co/Ry8m8LEU8T