GERMAN TRADE WITH EAST REBOUNDS

German trade with its eastern neighbours began recovering in July after the devastation the coronavirus pandemic caused to ties between the highly integrated economies of central Europe, but only in the case of Poland was there a return to growth. According to German Eastern Business Association figures seen by Reuters, both exports to and imports from Poland grew 1% in July compared to the previous year, though month-on-month improvements could also be seen in trade with Czechia and Hungary. SOURCE: Reuters

PAYPAL EXPANDS IN EUROPE
PayPal and Mastercard have announced that they are continuing the global expansion of the popular PayPal Business Debit Mastercard. The debit card makes it easier for small businesses to have instant access to their PayPal funds. The PayPal Business Debit Mastercard is now available in five new European countries – Austria, France, Ireland, Italy, and Spain – in addition to its existing availability in Germany, the United Kingdom, and the United States. SOURCE: www.parking-net.com

FACEBOOK DENIES PULL-OUT

Facebook’s head of global policy has denied the tech giant could close its service to Europeans if local regulators order it to suspend data transfers to the U.S. following a Court of Justice ruling in July that has cemented the schism between U.S. surveillance laws and EU privacy rights. The court filing is attached to facebook’s application for a judicial review of a preliminary suspension order from Ireland’s Data Protection Commission. SOURCE: techcrunch.com

START-UPS GO TO US LATER

The path to take on the US — and win — doesn’t look like it used to for European startups. They’re heading to the US later than they used to. VC firm Index ventures analysed the trajectories of 275 European and Israeli startups that expanded to the US in the past eight years, including 33 unicorn companies. It found that startups are delaying their move to the US: between 2008 and 2014, two-thirds moved before their Series A funding rounds, but between 2015 and 2019 that number had decreased to a third.  SOURCE: sifted.eu

ASPHALT RECYCLED FOR SWISS MOTORWAY

Swiss-based Ammann is providing 250,000 tonnes of recycled asphalt on-site to renovate a section of the N2 Motorway in Switzerland. The motorway is the north-south connection from Basel to Chiasso. South of the well-known Gotthard Road tunnel, the 10km four-lane section of motorway is currently undergoing a complete renovation that will be completed in 2022 at an estimated cost of €236m. Large quantities of gravel and asphalt were required for the project and, if brought in from off-site, it was estimated these would require 25,000 truck journeys. SOURCE: worldhighways.com

FILE PHOTO: A truck driver gets a temperature check, while a Polish police officer watches, at the German-Polish border, as the two countries try to contain the spread of coronavirus disease (COVID-19), in Frankfurt/Oder, Germany March 17, 2020. REUTERS/Axel Schmidt