Eurozone PMIs Reveal Divergent Fortunes, Kurdish Oil Flows Resume, and Asahi Faces Cyberattack-Induced Beer Shortage

Economic Activity in Eurozone - France's private sector continues to contract, with HCOB Composite PMI at 48.1, down from 48.4 and August's 49.8, indicating a five-month low driven by weak customer demand and declining new orders [2][7] - Italy's service sector shows significant growth, with HCOB Services PMI rising to 52.5, marking the fastest growth since May, while manufacturing PMI fell to 49.0, indicating a contraction [3][7] Kurdish Oil Exports - Kurdish oil exports from Iraq have resumed after a 30-month halt, with initial volumes expected between 190,000 and 230,000 barrels per day, potentially scaling up to 400,000-500,000 bpd [4][5][7] - The suspension had resulted in estimated losses exceeding $35 billion for Iraq, and ongoing discussions aim to establish long-term agreements beyond December 31, 2023 [5] Cyberattack on Asahi Group - Asahi Group Holdings faces a severe supply crisis for Asahi Super Dry beer due to a cyberattack, halting production at most factories and threatening imminent shortages [6][8] - The crisis has led to a 12% drop in Asahi's shares, with retailers warning of shortages and restaurants considering switching to rival brands [8] Germany's Defense Initiatives - Germany is reinforcing its defense capabilities amid European security concerns, emphasizing accelerated defense procurement and a potential unified European defense industry [9] - The focus on strengthening national and continental defense follows a significant shake-up in the German Defence Ministry, with calls for faster action to improve procurement processes [9]