Business
High Electricity Prices Threaten Europe’s Green Transition and Industrial Competitiveness
Rising electricity costs are slowing Europe’s shift to a low-carbon economy and putting key industries at a competitive disadvantage, according to Morningstar’s latest Electrification Observer report.
The European Union has relied on electrification to reduce emissions in sectors such as transport, heating, and heavy industry. Despite generous subsidies and ambitious targets, the pace of adoption remains slow. Europe is on track to electrify just 25% of its energy consumption by 2030, short of the 32% needed to meet climate goals.
“Europe finds itself in a difficult bind,” said Tancrede Fulop, senior equity analyst at Morningstar. “High electricity prices deter adoption of clean technologies. Heat pumps remain unaffordable for many households, while energy-intensive industries such as chemicals and steel lose ground to competitors in the US and China.”
Electricity in Europe is significantly more expensive than in the US and China, a gap widened by post-2021 market turbulence. Morningstar forecasts EU electricity consumption to grow at only 1.1% annually from 2024 to 2030, compared with 1.4% in the US. Network levies and taxes are expected to keep prices high, reducing incentives for households and industry to switch to cleaner energy.
The report highlights heat pump deployment as a clear example. Only 39 million units are expected to be installed by 2030, far below the EU target of 60 million. Residential electrification is projected to rise from 26% in 2023 to 28% by 2030, resulting in annual CO₂ reductions of just 1.7%, slower than the previous decade.
Data centres and electric vehicles will contribute only modest gains. Energy consumption by data centres is expected to grow 15% annually, reaching 182 terawatt-hours by 2030. Battery electric vehicles are projected to make up 45% of European auto sales by 2030, but the electrification of transport will cover only 5% of total energy use, reducing CO₂ emissions from road transport by just 5%.
High electricity costs are also affecting the chemical industry, which is expected to contract by 10% over the next five years. Green hydrogen production is forecast at just 0.6 megatonnes by 2030, far below the EU’s 10 Mt target, as power costs make it uncompetitive in most member states.
The report warns that slow electrification could increase political and policy pressure, potentially delaying EU climate measures such as the 2026 phaseout of free industrial carbon allowances and 2027 carbon pricing for residential heating. Under current trends, Europe is projected to reduce emissions by only 43% by 2030, short of the 55% target set for 1990 levels.
Regional differences are emerging. Northern Europe, France, and the Iberian Peninsula benefit from lower power costs and abundant clean energy, attracting data centres and green industrial projects. Other regions face higher costs and slower progress.
Morningstar concludes that Europe risks paying the high price of decarbonisation without achieving its full benefits, trapped in a transition that is both costly and politically sensitive.
Business
Almost Half of Europeans Eye Career Changes in 2026 Amid Growing Job Market Uncertainty
A new year brings new career ambitions for Europeans, with nearly half planning to seek a new job in 2026, according to recent research by LinkedIn. However, the survey also highlights widespread uncertainty, as almost four in five workers across major European economies feel unprepared to pursue a new role.
The study, conducted by Censuswide with 10,400 respondents aged 18 to 79, covers full-time and part-time employees as well as those currently unemployed but seeking work. It shows that 47% of Europeans are planning to look for a new role in 2026. Among the seven countries surveyed, the United Kingdom has the highest proportion, with more than half of respondents expressing intentions to change jobs. The UK is also above the global average of 52% recorded across 14 countries.
Other nations with high levels of job-seeking include Sweden and Spain, where more than half of workers are considering new opportunities. France, by contrast, has the lowest share at 37%. Germany and Italy fall below the European average, while the Netherlands aligns with it.
Despite these ambitions, confidence is low. Across Europe, 77% of workers report feeling unprepared for a career move. This figure peaks in Sweden at 83% and remains high in France, the UK, and Germany. Spain shows the lowest level of unpreparedness at 67%, while Italy and the Netherlands sit near the European average.
Recruiters are also feeling the pressure. The LinkedIn research indicates that 66% of recruiters say it has become more difficult to find qualified talent over the past year, reflecting increased competition in the job market. Data from hiring platform Indeed shows that UK job postings remain below pre-pandemic levels, highlighting the challenging environment for job seekers.
The study also examined emerging job trends in Europe, showing the growing influence of artificial intelligence (AI) on the labour market. Analysis of millions of jobs started on LinkedIn between January 2023 and July 2025 found that AI-related positions dominate growth across Europe’s top five economies. AI Engineer and Head of AI were among the fastest-growing roles in every country, while the third fastest-growing role varied, including lecturers in the UK, logistics analysts in Spain, and environmental health specialists elsewhere.
Charlotte Davies, LinkedIn career expert, said AI is increasingly shaping how organisations hire and how individuals plan their career moves. “The job market is evolving quickly, and competition remains strong,” she said, highlighting the dual challenge of opportunity and preparedness faced by workers in 2026.
The research underscores a cautious optimism in Europe: while many are ready to explore new career paths, a significant portion feel under-equipped to navigate an increasingly competitive and technology-driven job market.
Business
Warner Bros Rejects Paramount’s $78 Billion Bid, Sticks with Netflix Deal
Warner Bros Discovery has rejected Paramount Skydance’s latest $77.9 billion (€66.7 billion) takeover offer, calling it “inadequate” and risky, and urged shareholders to support a rival bid from Netflix. The announcement on Wednesday comes as the two media giants compete for control of Warner’s studio and streaming assets.
The company’s board said Paramount’s hostile bid is heavily dependent on debt financing and provides limited protection for shareholders if the deal fails to close. “Paramount’s offer continues to provide insufficient value, including terms such as an extraordinary amount of debt financing that create risks to close and lack of protections for our shareholders if a transaction is not completed,” Warner Bros Discovery chairman Samuel Di Piazza Jr. said. “Our binding agreement with Netflix will offer superior value at greater levels of certainty, without the significant risks and costs Paramount’s offer would impose.”
Warner Bros has consistently rejected Paramount’s advances in recent weeks, emphasizing its $72 billion (€61.6 billion) deal with Netflix to acquire Warner’s studio and streaming business, including HBO Max, Warner Bros Pictures, and legacy television and film production arms. Paramount, in contrast, seeks to acquire the entire company, including Warner’s cable and news networks, such as CNN and Discovery.
Paramount recently sought to strengthen its position by offering an “irrevocable personal guarantee” from Oracle co-founder Larry Ellison, father of Paramount CEO David Ellison, to back $40.4 billion (€34.6 billion) in equity financing. The company also increased its proposed regulatory break-up fee to $5.8 billion (€5 billion), matching the terms Netflix already offered.
Warner Bros raised concerns that a Paramount deal would essentially function as a leveraged buyout, requiring extensive debt and potentially taking 12 to 18 months to complete. The board warned that the structure and scale of Paramount’s offer could expose shareholders to significant financial risk.
The strategic differences between the two bids have added complexity to the sale. Netflix’s acquisition would involve only Warner’s studio and streaming units, leaving cable and news networks as a separate entity under a previously announced spin-off. Paramount, by contrast, is pursuing a full-scale merger that would combine studio, streaming, and cable operations under one company.
Regulatory scrutiny is expected to be intense. Any merger of this size is likely to trigger a review by the US Justice Department, which could challenge or demand modifications to the transaction. International regulators may also examine the deal given the global reach of Warner’s media properties.
Paramount did not immediately respond to a request for comment. Analysts say the battle for Warner Bros highlights the shifting dynamics in Hollywood as traditional studios and streaming platforms vie for market dominance amid growing competition and regulatory pressure.
Business
Record-Breaking Bluefin Tuna Sells for €2.78 Million at Tokyo New Year Auction
A 243-kilogram bluefin tuna sold for a staggering 510 million yen (€2.78 million) at the first auction of 2026 at Tokyo’s Toyosu fish market, setting a new record for the prized species.
The winning bidder was Kiyomura Corp., owned by Kiyoshi Kimura, who also runs the popular Sushi Zanmai chain. Kimura has frequently claimed top tuna at the market’s annual New Year auctions, but this year’s sale surpassed his previous record of 334 million yen (€1.82 million) set in 2019.
Kimura told reporters he had hoped to pay a little less but was outbid as the price quickly soared. “The price shot up before you knew it,” he said, adding that he purchased the tuna partly for good luck. “But when I see a good-looking tuna, I cannot resist. I haven’t sampled it yet, but it’s got to be delicious.”
The auction began in the predawn hours, with rows of torpedo-shaped tuna laid out with their tails removed, allowing bidders to inspect the meat’s color, texture, and fattiness. The record-setting fish was caught off the coast of Oma in northern Japan, a region renowned for producing some of the country’s finest tuna. At 2.1 million yen (€11,500) per kilogram, the sale highlights both the rarity and quality of Oma tuna, which is prized for sushi and sashimi.
The New Year auction is a high-profile event in Japan, drawing attention from buyers nationwide. While hundreds of tuna are sold daily at Toyosu, prices typically spike during the celebratory first auction of the year, with top specimens fetching sums that far exceed standard market rates.
Pacific bluefin tuna, the species of this record-breaking catch, was previously considered threatened due to overfishing and climate change. Conservation efforts in recent years, however, have allowed stocks to recover, enabling the continuation of Japan’s tuna industry while protecting the species for future generations.
The high-profile sale reflects both the cultural importance of tuna in Japan and the market’s growing international prestige. Kimura’s purchase ensures that the fish will be featured in Sushi Zanmai restaurants, continuing a tradition of showcasing top-quality tuna to diners in Tokyo and beyond.
For Japan, the New Year tuna auction is not only a commercial event but also a symbol of prosperity and good fortune. Winning bidders, like Kimura, often view the purchase as a way to start the year with optimism, bringing attention to the skill of fishermen and the quality of Japan’s seafood.
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