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Eurozone PMIs Reveal Divergent Fortunes, Kurdish Oil Flows Resume, and Asahi Faces Cyberattack-Induced Beer Shortage
Stock Market News· 2025-10-03 08:08
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]
Why Japan is about to run out of its favorite beer
Business Insider· 2025-10-03 04:45
Core Points - Asahi Group Holdings is facing a significant operational disruption due to a cyberattack that has halted production in most of its 30 facilities in Japan since September 29, 2025 [1][2] - The company reported first-half 2025 sales of 1,360 billion yen, approximately $9.24 billion, and its stock price has declined over 6.5% in the past five days and about 7% over the past year [3] - Japanese retailers, including Family Mart and 7-Eleven, have warned of low supply of Asahi products, including Asahi Super Dry beer, due to the suspension of orders and shipments [8][9] Company Operations - The cyberattack has led to the suspension of order and shipment operations in Japan, as well as a pause in call center activities, including customer service [2] - Asahi Group Holdings confirmed that there has been no leakage of customer data, but it has not provided an estimated timeline for recovery from the system failure [2] Market Impact - The disruption in production and supply chain is expected to affect the availability of Asahi's products in retail stores, leading to potential shortages [8][9] - The company's stock performance reflects investor concerns, with a notable decline in share value over the recent period [3]