DocGo Up 4%; Gets ISO 27001 Certification For Application Infrastructure

European Economics Preview: Germany Unemployment Data Due

Unemployment from Germany and flash consumer prices from euro area are due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany’s unemployment data. In the meantime, GDP data from Turkey and unemployment from Denmark are due.

At 2.45 am ET, France’s statistical office Insee is scheduled to publish revised GDP data, flash consumer prices, household spending and producer price figures. Consumer price inflation is expected to rise to 2.7 percent in November from 2.6 percent in October.

At 3.00 am ET, Spain’s statistical office INE publishes retail sales for October. Also, GDP from Austria and the Czech Republic are due.

The Swiss KOF leading indicator is also due at 3.00 AM ET. The index is seen at 109 in November versus 110.7 in October.

At 3.55 am ET, unemployment data from Germany is due. The jobless rate is expected to drop to 5.3 percent in November from 5.4 percent in October.

At 4.00 am ET, consumer prices and GDP figures are due from Poland.

At 5.00 am ET, Eurostat is set to issue euro area flash consumer prices for November. Inflation is expected to surge to 4.5 percent from 4.1 percent in October.

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Twists on comfort classics from a fine-dining alumnus, an elegant whiskey den in the garment district and more restaurant news.

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By Florence Fabricant

Germany suspends approval of Nord Stream 2 pipeline

London (CNN Business)European consumer prices are rising at their fastest pace since 1997.

Annual inflation across the 19 countries that use the euro, including Europe’s largest economies Germany, France, Italy and Spain, hit 4.9% in November, driven mainly by soaring energy prices, according to Eurostat, the EU statistics office.
That’s the highest rate since 1997, when the European Union started collecting data in preparation for the launch of the euro two years later, and up from 4.1% in October.

    According to Eurostat’s flash estimate, energy prices rose by 27.4% in November. Services inflation was 2.7%.

      Europe is paying record prices for energy. A winter crisis looms

      “The surge in headline inflation continues to be mainly driven by higher energy prices, but core inflation also saw a surprisingly strong increase, likely linked to a surge in German package holiday prices,” Katharina Koenz, an economist at Oxford Economics, wrote in a research note.

      The figures came a day after Europe’s biggest economy Germany estimated consumer prices rose by 5.2% in November. German inflation broke above 4% for the first time in nearly 30 years in September.

      Why Volkswagen is beating Tesla in Europe

      Germany-based Volkswagen Group has risen from the ashes of its 2015 emissions scandal to become the EV market leader in Europe, where the company reported that it had 26% market share in the first half of 2021. While Tesla's Model 3 has been selling well in the region, Volkswagen's local manufacturing, brand familiarity and cheaper price points have helped give it an edge over Tesla.

      But as Elon Musk aims to start production at the Berlin Gigafactory by year's end, Volkswagen's lead could be short-lived. 

      In the rapidly growing EV market, analysts say the Volkswagen Group benefits from its wide array of brands, which includes luxury marques like Audi, Bentley and Porsche. VW's most popular EV in Europe is the more affordable ID.3, a hatchback that starts at around $40,000. And in September 2020, Volkswagen released the ID.4, an SUV aimed at the global market that has since become Volkswagen's top-selling EV overall. 

      However, Volkswagen still lags behind Tesla globally. Tesla delivered more than 627,000 EVs in the first three quarters of 2021, while Volkswagen sold about 293,000 cars. But Volkswagen, along with other traditional automakers and EV startups, plans to release an abundance of new all-electric models in the next decade.

      Watch the video to learn more. 

      Opinion | On the Trans-Atlantic Price Gap

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      By Paul Krugman

      Opinion Columnist

      DocGo Up 4%; Gets ISO 27001 Certification For Application Infrastructure

      Shares of mobile health services provider DocGo Inc. (DCGO) are up 4 percent on Tuesday’s trading. The company announced that it recently received ISO 27001 certification for its application infrastructure, which includes Ambulnz, a mobile medical services and transportation provider, and the company’s patient EMR, HealthPoint.

      Currently at $7.96, the stock has traded between $7.14 and $11.86 during the past 52 weeks.