Fake Ozempic and Wegovy surge in Europe — but regulators have limited powers to act (POLITICO)
By Ashleigh Furlong, Helen Collis · Sep 8, 2023 It was only a matter of time. Soaring demand for a drug touted by online influencers to help lose weight, but whose supplies in Europe are restricted, has caused a surge in fake and potentially dangerous concoctions of the injection, putting lives at risk. In the […]
In the Blind Spot (The whole economy is Fyre Festival)
Dear subscribers, September is upon us. For a lot of people that means “back to school” season. And I, for one, am delighted by the prospect since it means some stability with childcare and the return of a predictable routine. Non-parents should also be pleased since it means their colleagues who are parents might finally […]
EU boosts imports of Russian LNG despite phaseout pledge (POLITICO)
By Victor Jack · Aug 30, 2023 Russian sales of liquefied natural gas to the EU hit record levels this year despite the bloc’s efforts to cut back on energy imports from Moscow, new data shows. EU countries bought 9.5 million tons of LNG from Russia from January to July, according to the Kpler market […]
In the Blind Spot (Jackson Hole meets Alpbach)
Dear Subscribers, Welcome to the end of August. It’s Jackson Hole weekend. But it’s also the European Forum at Alpbach in Austria, where I have finally arrived. My Alpine location is one of the reasons the newsletter is coming on a Sunday. My arrival at Munich was scuppered on Thursday night by electrical storms, which […]
Russian oil titan Lukoil eyes the end of its reign in Bulgaria (POLITICO)
By Victor Jack · Aug 21, 2023 BURGAS, Bulgaria — Russia’s largest private oil company Lukoil casts an immense economic and political shadow over Bulgaria — but the energy major’s privileged position in the Balkan country is in growing danger. That’s because a derogation from EU oil sanctions enjoyed by its Bulgarian branch runs out […]
In the Blind Spot (The cost of Alpine life, Argentina, Bond yields)
Dear Subscribers, My trusty lieutenant Dario Garcia Giner took a well deserved break last week with some exotic travels. That’s part of the reason there was no newsletter last week (the first absence since we started the weekly format). The other reason is that we had guests over and there was an unexpected foot injury. […]
Russia shoots for the moon as space race against US heats up (POLITICO)
By Joshua Posaner, Matt Berg, Laura Hülsemann · Aug 10, 2023 Despite war and sanctions, Vladimir Putin is trying to haul Russia back into the space race. In the early hours of Friday morning, state space agency Roscosmos is poised to launch the country’s first lunar mission in nearly half a century as an ambitious […]
In the Blind Spot (BoJ tweak, Uber non-profits, Wind crisis)
Dear Subscribers, Thank you for your patience while I was away. We’re back to normal programming this week. This edition of the Blind Spot newsletter was compiled as usual by me with the help of Dario Garcia Giner. Economics, business, finance and more: Following the NatWest-Farage row, the heads of Britain’s largest banks committed to […]
Austrian chancellor: Right to use of cash should be in constitution (POLITICO)
By Laura Hülsemann · Aug 4, 2023 Being able to continue using cash for payments rather than cards or digital currencies should be enshrined in the Austrian constitution, Chancellor Karl Nehammer said. “More and more people are worried that cash could be restricted as a means of payment in Austria,” he said, insisting that people […]
Inside a Ukrainian baby factory (POLITICO)
By Ilya Gridneff, Emily Schultheis, Dmytro Drabyk · Jul 24, 2023 KYIV, Ukraine — When Tanya, a 45-year-old woman living in Los Angeles, paid $10,000 and sent two embryos to a surrogacy firm in Ukraine hoping to build a family six years ago, she says she never expected the uncertainty and heartbreak the process would […]