German exports, industrial production rose in March
German exports were up 1.1% in March over the previous month, data from the federal statistics office showed on Thursday. That surpassed a forecast 1.0% increase in a Reuters poll.
Imports were down by 1.4% on a calendar and seasonally adjusted basis compared with February.
The German trade balance showed a surplus of 21.1 billion euros ($23.9 billion) in March, up from 18.0 billion euros in February.
The far-reaching tariffs announced by the U.S. will deal a major blow to German industry. The U.S. was Germany's biggest trading partner in 2024, with 253 billion euros worth of goods exchanged between them.
German industrial production rose in March by 3% compared with the previous month, the federal statistics office said on Thursday. Analysts polled by Reuters had predicted a 0.8% rise.
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The Independent
41 minutes ago
- The Independent
As octopuses dwindle in Spanish waters, suppliers look to imports and farming despite concerns
At a humming factory in the Spanish town of O Carballino, workers sling dozens of limp octopuses into a metal cauldron, wincing as strings of slime splatter their aprons. Nearby, others slice tentacles and pack them into vacuum-sealed bags destined for restaurants and retailers across Europe, Asia and the United States — part of a growing global appetite for an animal that's become increasingly scarce in its native waters. Though O Carballino proudly calls itself Spain's octopus capital — complete with a towering bronze octopus statue, streets lined with the pulperias that offer them up to diners and an annual octopus festival that draws tens of thousands — the century-old factory hasn't sourced a single animal from local waters in 10 years. 'Here in Galicia, octopus has become really, really variable and scarce,' said Carlos Arcos, export manager of Frigorificos Arcos SL. 'If you're industrializing a process like we do, you need to guarantee your customers regularity of supply.' Today, 100% of the company's octopus comes from Mauritania and Morocco. While octopus numbers fluctuate naturally from year to year, scientists and fishers say Spain's long-term trend is downward and surging international demand is only tightening the squeeze. That's prompted some companies to explore farming the animals in tanks to ensure a long-term supply — a prospect that's drawn pushback from animal welfare groups. Pressure forces closure of Spain's octopus fishery This summer, that pressure reached a breaking point. Spain's octopus fishery closed for three months — an unusually long pause meant to give it time to recover. 'The population has only just come back, but once the season opens, we'll destroy it all in two weeks,' said Juan Martínez, a fisherman of more than four decades. Beside him, hundreds of octopus traps sat idle, stacked along the dock in his home port of Cangas. 'This used to be a sustainable industry, but now we've broken an entire ecosystem.' Octopus populations in Galicia also depend heavily on nutrient-rich upwelling — deep ocean water rising to the surface and bringing food for octopuses — said Ángel González, a research professor at the Spanish National Research Council. While upwelling naturally fluctuates, climate change is altering wind patterns, ocean stratification and nutrient delivery, making those cycles less predictable and, in some years, less productive. 'When that weakens due to changing oceanographic and atmospheric conditions, numbers drop regardless of fishing.' In response to growing demand and shrinking wild stocks, some companies in Spain are attempting to farm octopus in captivity — a move they say could ease pressure on the oceans. Grupo Profand is developing a research hatchery in Galicia focused on overcoming the biological challenges of breeding octopus. Meanwhile, seafood giant Nueva Pescanova is pursuing a full-scale industrial farm that would raise up to a million octopuses a year for slaughter. Grupo Profand did not respond to an interview request. A spokesperson for Nueva Pescanova declined to comment. Animal welfare groups say octopus shouldn't be farmed Animal welfare groups have condemned the proposed project as inhumane, citing plans to kill octopuses by submerging them in ice slurry and to confine the often-cannibalistic animals at high densities. They also warn it would pollute nearby waters with discharged waste, worsen overfishing of wild fish used for feed and inflict suffering on one of the ocean's most complex creatures. 'Farming wild animals is cruel, but especially with octopuses given their solitary nature and extremely high intelligence,' said Helena Constela, head of communications at Seaspiracy, a group that advocates against industrial fishing. Keeping them confined together in tanks, she said, is 'basically torture in slow motion.' Michael Sealey, senior policy advisor at Oceana Europe, said aquaculture should focus on species with lower environmental costs, such as oysters and mussels, which require no fish feed. 'We recognize that aquaculture has a role to play in feeding the world,' said Michael Sealey, senior policy advisor at Oceana Europe. 'But we need to prioritize low-impact farming — not systems that rely on feeding wild fish to carnivorous species.' Widespread concerns have already prompted action in the United States. Washington became the first state to ban octopus farming in 2024, followed by California, which also outlawed the sale of farmed octopus. Lawmakers in more than half a dozen other states have proposed similar bans, and a bipartisan federal bill to prohibit both farming and imports of farmed octopus is under consideration in Congress. Though no commercial farms currently operate in the U.S., these preemptive measures reflect mounting unease over projects moving ahead in Europe, Asia and parts of Central and South America — unease fueled in part by the 2020 Oscar-winning documentary 'My Octopus Teacher,' which showcased the animals' intelligence and emotional complexity to millions on Netflix. The arguments in favor of farming 'They have a real brain. They're able to do things other animals cannot,' said González of the Spanish National Research Council. 'But please — don't cross the line. It's an animal, it's an invertebrate. We can't extrapolate these kinds of things. Personality is linked to persons.' González, who is working with Grupo Profand on their research hatchery, believes farming could help restore wild stocks by raising juvenile octopuses in captivity for release back into the sea — an approach animal welfare groups argue could pave the way for industrial-scale farming. Javier Ojeda, national aquaculture representative at APROMAR, Spain's aquaculture business association, said aquatic animals can play a key role in food security and may be more efficient to raise than livestock. ' Octopuses grow extremely fast and efficiently — they're not fighting gravity and they don't spend energy heating their bodies," he said. He acknowledged welfare concerns but argued they should not block scientific progress. 'Farming octopus is something that cannot be stopped,' said Ojeda. 'We've been eating them for a long time. Now we need to try to find best practices.' Follow Annika Hammerschlag on Instagram @ahammergram. ___
Reuters
41 minutes ago
- Reuters
Oil prices little changed as industry report points to slowing US demand
Aug 13 (Reuters) - Oil prices were little changed on Wednesday after falling in the previous session after an industry report showed U.S. crude stockpiles climbed last week illustrating the end of the seasonal summer demand period is nearing. Brent crude futures gained 3 cents to 66.15 a barrel at 0102 GMT after dropping 0.8% in the previous session. U.S. West Texas Intermediate crude futures fell 3 cents to $63.14 after declining 1.2%. Crude inventories in the U.S., the world's biggest oil consumer, rose by 1.52 million barrels last week, market sources said, citing American Petroleum Institute figures on Tuesday. Gasoline inventories dropped while distillate inventories gained slightly. Should the U.S. Energy Information Administration data set for release later on Wednesday also show a decline, it could indicate that consumption during the summer driving season has peaked and refiners are easing back their runs. The demand season typically runs from the Memorial Day holiday at the end of May to the Labor Day holiday in early September. Analysts polled by Reuters expect the EIA report to show crude inventories fell by about 300,000 barrels last week. Outlooks issued by OPEC and the EIA on Tuesday pointed to increased production this year which also weighed on prices. But both expect output in the U.S., the world's largest producer, to decline in 2026 while other regions will increase oil and natural gas production. U.S. crude production will hit a record 13.41 million barrels per day in 2025 due to increases in well productivity, though lower oil prices will prompt output to fall in 2026, the EIA forecast in a monthly report. The Organization of the Petroleum Exporting Countries' monthly report said global oil demand will rise by 1.38 million bpd in 2026, up 100,000 bpd from the previous forecast. Its 2025 projection was left unchanged. The White House on Tuesday tempered the expectations for a quick Russia-Ukraine ceasefire deal, which may lead investors to reconsider an end to the war soon and any easing on sanctions Russian supply, which had been supporting prices. U.S. President Donald Trump and Russian President Vladimir Putin are due to meet in Alaska on Friday to discuss ending the war. "Trump downplayed expectations of his meeting with President Putin ... However, expectations of additional sanctions on Russian crude continue to fall," ANZ senior commodity strategist Daniel Hynes wrote in a note.
The Sun
41 minutes ago
- The Sun
Lidl is selling a range of camping gadgets that are perfect for the hot weather including cool box and chairs
LIDL is selling a range of budget-friendly camping gadgets as Brits soak up the sunny weather. The discount supermarket chain is stocking kids' sleeping bags and chairs, cool boxes and even an air mattress. 4 The new range will be perfect for camping during the end of summer and autumn and getting outdoors to make the last of the year's light. There are 30 items Crivit Camping range that range from air mattresses to cool boxes. And some even have a discount attached to them. For example, the camping cutlery set selling for £9.99 now has 20 per cent with Lidl Plus and is selling for £7.99. The Crivit Aluminium Camping Table normally sells for £24.99, but with the Lidl Plus card is currently selling for £19.99. The air mattress in a double size is selling for £14.99, while sleeping bags are selling for £12.99. A range of four cool bags are selling for £3.99 while backpacks are selling for £14.99. It comes after Crivit released a number of tents and festival gear for summer at Lidl several months ago. The incredible Crivit camping range has everything festival-goers need to set themselves up in the Wilderness, including the 4-Person Blackout Tent – popping up in stores for just £99.00 with Lidl Plus. Crivit was even selling stand up paddleboards at supermarkets. Lidl's $50 Hammock: Summer Comfort That Won't Break the Bank The Crivit All-Round Inflatable SUP is priced at just £99.99, and was available at Lidl stores from Thursday May 29. This bargain bed comes after Lidl have begun selling ice cool gel pillows that are easy to use and would be perfect for keeping cool on those hot car trips. For just £7.99 on the Lidl plus app, shoppers can get their hands on the Silentnight Cooling Gel Pillow Pad. That's more than £12 cheaper than a similar product on Argos, with the low price available until June 7. Described as perfect for restless sleepers and over heaters, the pillow give you instant cooling comfort, so you don't need to flip your pillow during the night. At 60x40cm it covers your entire pillow and simply needs to be slid inside your pillowcase on top of your normal pillow. How to save money on summer essentials SUNNIER days and warmer weather will leave many of us wanting to kit out gardens and outdoor areas. Sun Savers Editor Lana Clements explains how to get a great deal on summer essentials… It pays to know how to bag big savings on the likes of hot tubs paddling pools, egg chairs and outside bars. Many retailers have flash sales across entire ranges – often this ties into payday at the end of the month or Bank Holiday weekends. Sign up to the mailing lists of your favourite brands and you'll be first to know of special offers. It can be worth following retailers on social media too. Keep a close eye on the specialbuys at Aldi and middle of Lidl drops which drop a couple of times a week and usually mean great value seasonal items such as beach gear and paddling pools. If you are not in a hurry to buy an item, try adding it to the shopping cart and leaving it for a couple of days. Sometimes big brands will try to tempt you into the sale by offering you a discount. Always check if you can get cashback before paying. It's especially worth using sites such as Topcashback, Quidco and app Jamdoughnut when buying bigger ticket items such as garden furniture as you'll get a nice kickback. 4
