"[Merkel] has a lot of political capital and she is using this to convince the … conservative CDU to support this new fiscal policy response at the EU level." 

That's the reason Oliver Rakau, chief German economist at Oxford Economics, said Germany's six-month presidency of the European Union can be a success, despite the turbulent times it will encompass. 

Looking across the bloc and the wider continent, it's an interesting day to take the reins. 

While Germany was buoyed by data showing consumers had flocked back to stores in May, Europe's largest economy also heard that more than 5,000 Airbus employees could lose their jobs in the country, after the plane maker announced worldwide workforce cuts. 

But it's not just Germany having a tumultuous day. 

Today is the day Facebook will lose around 400 high-profile advertisers. Although this is only a slice of its revenues, the PR affect could be a big one. 

You can read more on that story in our refreshed interview segment below and as always there is more information on our website.   

And finally, our graphic today looks at one story (somehow) forgotten amid the pandemic. What has happened to the Europeans living in the UK, applying for "settled status"? Find out at the bottom of the briefing. 

Happy reading, 
Patrick Atack

Digital business correspondent 

P.S. Did you know we send this briefing by email, too? 

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European aircraft maker Airbus has announced it is planning to cut about 15,000 jobs worldwide, or one in 10 of its total workforce. The company said 5,000 positions would be axed in France, 5,100 in Germany, 900 in Spain, 1,700 in the UK and 1,300 at its other global bases. 

European governments have leapt into action following the news of Airbus's planned restructuring, with both French Junior Transport Minister Jean-Baptiste Djebbar and Spanish Prime Minister Pedro Sanchez giving statements implying that workers in their respective nations could be spared from the redundancies. 

The Wirecard saga continues as police and prosecutors raided the stricken firm's Munich headquarters and several other offices in Germany and Austria. Further to the warrants we have reported on, police now say board members Alexander von Knoop and Susanne Steidl are both under investigation. 

The French government is extending its temporary unemployment plan until well beyond 2020. The furlough scheme was put in place to avoid mass unemployment when the pandemic started. The state gives subsidies to companies, which they can then use to pay the wages of their employees. Millions of French people have already benefited from the scheme. 

Several large employers in the UK have confirmed job losses and cuts including sandwich firm Upper Crust, which operates in travel hubs, and department store John Lewis. Several thousand jobs are expected to be lost in the retail sector alone.

German retail sales rose by more than 13 percent in May, bouncing back from several months of negative figures, according to the Federal Statistics office. Sales were also up by nearly four percent year-on-year, perhaps indicating shoppers' urgency in returning to shopping in person after lockdown. 

Vegan alternatives brand Beyond Meat has moved into the lucrative Chinese market, with a deal to sell its products in 50 Freshippo stores in Shanghai, before expanding to more shops. Freshippo is owned by the prominent online retailer Alibaba. 

The UK Competition and Markets authority has called for tougher rules on Google and Facebook, in a bid to curb their dominance over digital advertising markets. In 2019, Google and Facebook accounted for nearly 80 percent of the UK's digital advertising spending of about $17.34 billion. 

In a wider move, U.S. civil rights groups including the National Association for the Advancement of Colored People have agreed with multinationals such as Coca-Cola and Starbucks to remove advertising from Faceboook. The action is hoping to persuade the social media giant to take action on hate speech, in the aftermath of the murder of George Floyd in the U.S.  

iPhone users in China face frustration as tens of thousands of apps have been suspended or even taken down from the Apple App store, as the company moves to comply with the Beijing government's rules on licensing. 

Wigan Athletic has become the first European football club to succumb to the pressures of COVID-19, as the team in England's second-tier division today called in administrators. The club is looking for a buyer, but could face relegation with a 12-point deduction as a penalty for the financial situation in which it finds itself. 

Video: As more people start to gather in large crowds, we speak to the experts advising the police and major venues on how to predict crowd behavior during the pandemic.

Fergus Hay is an entrepreneur and brand consultant. He talked to CGTN Europe after news that brands such as North Face and Patagonia had suspended their advertising on Facebook. Here are the highlights:  

 

Is this damaging to Facebook?  

We are seeing brands really question the integrity and applicability of Facebook. There are young alternatives like TikTok, which are much more appealing.  

It could be that Facebook has just become the grandfather and it's huge and it's unregulated. And I think corporates are very sensitive about who they attach themselves to. 

 

What about users? Are they moving away from Facebook, too?  

The consumer generation, the Zoomers, are highly activist. They're aligning themselves with brands that share their moral code and their values and I think brands are very sensitive to that .

 

Can Facebook ever really regulate itself?  

Reddit made a really interesting move quite recently, and I'm sure you will see others of the younger tech platforms self-regulate. And I think if Facebook wants to survive, there needs to be a strong regulatory code that consumers and brands buy into.