UK: “A family bakery established in 1914 will shut its doors for the final time later due to huge energy costs and the price of ingredients.”
Analyst Comment: Europe escaped what could of been severe shortages of food and energy this Winter, largely due to one of the mildest Winters on record. However, the fallout from Europe cutting Russian energy imports continues as businesses large and small relocate or shut down. The European economy will look quite different over the next several years. Opportunity is shrinking across Europe.