German firms raise price plans as energy hits its highest level since 2022
Germany’s ifo institute (a Munich economic research body) reports that its price-expectations index, which tracks the share of firms planning price rises, climbed from 23.0 in September to 25.9 in October (ifo). In September it had risen from 21.4 to 22.7 (ifo). Crude oil and natural gas prices reached their highest since 2022 in the second half of October (ifo). Earlier, crude had jumped after the blockade of the Bab al-Mandab strait, a Red Sea shipping chokepoint (ifo).
The beneficiaries are energy producers and suppliers. Firms that can pass costs on protect their margins, while households and firms with fixed contracts absorb the rise. Ifo’s head of economic research, Timo Wollmershäuser, expects utilities to lift electricity and gas prices this winter and inflation to exceed 3% in coming months (ifo).
Europe waits on US midterms that could shift trade and security policy
The midterm results arrive overnight on 3–4 November. According to Politico Europe, EU governments are looking for any change in Washington’s approach on tariffs, Ukraine, the Middle East and Greenland. Polls point to a setback for Donald Trump. The effect would be limited, since the White House keeps control of trade and foreign policy whatever Congress looks like. A Democratic House would mainly gain the power to investigate and to block spending.
US research cuts push senior scientists abroad
Le Monde reports that budget cuts and political distrust of science are driving experienced US researchers to leave, while arrivals of foreign doctoral students fall sharply. European universities and labs are the likeliest recruiters. The midterms may change this only at the margins.
UK offers student-fee concessions ahead of 20 November EU summit
Il Sole 24 Ore reports that London appears ready to give Brussels major concessions, including lower tuition fees for European students in the UK, before the 20 November summit.
Non-obvious angle: the cost of recruiting scientists is now an energy cost too
European labs that hire US talent face the same power and gas bills as industry. Funding for equipment and electricity-heavy computing will decide whether the talent inflow turns into output.
Catch the next Gist for the continent’s moving pieces.
