In germany, you have to consider the ancillary copyright for press publishers (Leistungsschutzrecht für Presseverleger), specified in §§ 87f to 87h UrhG.
The publisher has the exclusive right to publish their news publication online. However, they explicitly cannot prevent you from
- using facts from the news publication
- linking to the news publication
- using individual words or very short snippets from the news publication
So yes, it would probably be possible to create, publish, and sell such a news digest, as long as you avoid lifting quotes from the news publication. You should write everything in your own words.
In this context, you should review the history of the Leistungsschutzrecht, and in particular the role of Google Search and Google News. Many publishers that had advocated for this Leistungsschutzrecht ended up giving Google gratis licenses so that snippets/teasers could be shown in Google services. You would not benefit from such a license, and would have to be more careful.
Compared to the united-states, Germany and Europe has more complicated copyright rules, with lots of ancillary rights that make a simple statement like "facts are not copyrightable" slightly incorrect. For example, facts are not copyrightable, but databases as collections of facts are. There's also a very low threshold of originality, so that even short text snippets must be assumed to be covered by copyright.
As to why copying news doesn't seem to be a common business model: it is reasonably common to report on something that was originally reported by another newspaper. However, there are practical downsides:
- the news would be delayed
- summarizing stuff in your own words is still a lot of work (though automation is arriving)
- legal risks if you include snippets of the original
- why would people read your summary if they can read the original?
At least for newspapers and similar press products, it is rare for journalists to write their own stories. Instead, a lot of news is licensed from news agencies, e.g. Reuters, Associated Press, or dpa. This syndication is cost-effective and avoids legal problems. The main value of a publication in that workflow is to select relevant stories and to maybe provide a bit of context for the audience. Reporting on others' stories is more common in areas that are more online and informal, for example tech news.