GERMAN JOBLESSNESS FALLS UNEXPECTEDLY

German unemployment fell unexpectedly in November despite a partial lockdown to contain a second wave of coronavirus infections in Europe’s largest economy, data showed on Tuesday. The labour office said the number of people out of work decreased by 39,000 in seasonally adjusted terms to 2.817 million. A Reuters poll had forecast a rise of 8,000. The unemployment rate edged down to 6.1% from 6.2% in the previous month, the lowest level since April. SOURCE: Reuters

BBC REPORT WARNS OF DOUBLE WHAMMY

The deepest recession for more than 300 years allied to the biggest risk ever undertaken with the British economy, as it exits the European Union: yes, this is the winter of the Covid-Brexit double whammy. Yet Brexit was absent from the Chancellor’s spending review statement last week. It was not absent, however, from the report by the Office for Budget Responsibility, deliberately coinciding with the Treasury plans. READ MORE: https://www.bbc.co.uk/news/uk-scotland-55123346

MORE IP PROTECTION FOR SMEs

The European Commission this week published its new action plan on intellectual property, which aims to help companies make the most of their own inventions. Intellectual property (IP) is one of a company’s intangible assets, the products of the minds of owners and employees which go on to become the company’s other assets, such as products and services. READ MORE: https://www.brusselstimes.com/news/business/143070/eu-intellectual-property-plan-would-protect-small-companies/

ONE IN THREE JOBS TO GO AT DEUTSCHE BANK

Deutsche Bank is planning to cut one in three jobs at its retail banking hubs in Frankfurt and Bonn as part of its efforts to cut costs and restore profitability, according to a letter to staff seen by Reuters. “We will only make our private customer business in Germany profitable and sustainable if we continue to reduce costs significantly. To achieve this, we will have to take further measures”, the letter signed by Deutsche Bank board member Karl von Rohr said. SOURCE: Reuters

FILE PHOTO: A commuter wearing a face mask walks at the Cologne main station after the federal state of North Rhine-Westphalia decided to make wearing protective masks obligatory in buses, trains and shops to fight the spread of the coronavirus disease (COVID-19), in Cologne, Germany, April 27, 2020. REUTERS/Wolfgang Rattay