Economic Indicators
U.K. Inflation Hits Fresh 40-Year High in May
Published
6 days agoon
By
letizo News
© Reuters.
By Scott Kanowsky
Investing.com — Inflation in Britain rose to a new 40-year high of 9.1% in May, according to the Office for National Statistics, fuelled by a jump in costs for food and energy.
The increase in the U.K.’s Consumer Price Index was in line with estimates, and adds pressure on the Bank of England as it looks to stem a cost of living crisis in the country.
On a month-to-month basis, prices moved higher by 0.7%.
The ONS said the largest contributor to inflation in May came from soaring costs for foods, particularly bread, cereal, and meat. Rising prices for electricity, gas, and other fuels also put upward pressure on inflation.
Concerns have mounted recently that Britain may be facing these higher prices throughout the rest of the year, with the BoE predicting last week that inflation could reach as high as 11% in October.
You may like
Morgan Stanley will cover U.S. employees’ travel for abortion services -source
West pledges support for Ukraine as missiles strike shopping centre
Morgan Stanley Has Continued Conviction on Rockwell Automation’s Capex Cycle
U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.20%
Nike quarterly revenue beats on athletic wear demand
Wall Street ends down, pulled lower by growth stocks
Economic Indicators
Peru truckers, farmers to strike over fuel and fertilizer costs
Published
22 hours agoon
June 26, 2022By
letizo News
© Reuters. FILE PHOTO: People walk next to parked trucks during a national transportation strike against fuel prices, in Lima, Peru March 18, 2021. REUTERS/Angela Ponce/File Photo
By Marco Aquino
LIMA (Reuters) – Peru’s truckers and some farm groups will go on strike on Monday after failing to reach agreements with the government seeking measures to reduce the impact of steep global price rises of fuel and fertilizer, sector leaders said on Sunday.
Union leaders met on Friday and Saturday with government representatives, with demands including considering freight transport a “public service” that would reduce costs and curb competition from truckers from neighbor countries.
“We are firm in plans to strike with all our bases nationwide,” the leader of the heavy load haulage and drivers union Marlon Milla told radio station RPP. The union has 400,000 cargo transport units in 14 of the 25 regions of the country.
High global fuel prices linked to Russia’s invasion of Ukraine have stoked unrest in Peru, the world’s No. 2 copper producer, while shortages of fertilizer have raised fears over food supply with the government struggling to secure shipments.
The government of leftist President Pedro Castillo, who has seen his popularity tumble since taking office last year, has taken measures to curb the rising cost of living, but the annual inflation rate remains at around 8%, its highest level in 24 years.
Some farming unions also announced strikes on Monday, in protest at the rise in fertilizer prices and shortages.
Latin American leaders are grappling to bring down spiraling prices despite major interest rate hikes. Trucking protests over fuel costs have hit Argentina while Ecuador is being roiled by protests in part linked to gas prices. [L4N2YB27W]
“The dialogue has not been exhausted, we are in a permanent session of ministers to avoid protest,” Justice Minister Félix Chero told reporters on Sunday. The government is offering subsidies for road tolls and fertilizer costs.
Economic Indicators
French lawmakers plan $8.4 billion aid for households to fight inflation
Published
1 day agoon
June 26, 2022By
letizo News
© Reuters. A shopper pays with a ten Euro bank note at a local market in Nice, France, June 7, 2022. REUTERS/Eric Gaillard
PARIS (Reuters) – French lawmakers are drafting a bill to shore-up household buying power by raising some forms of government assistance by 4%, at a cost of 8 billion euros ($8.44 billion) from July to April next year, business daily Les Echos reported on Sunday.
According to the report, the planned increases would apply to welfare benefits for families, unemployed workers and disabled people as well as pension payouts, effective in July.
Housing allowances, meanwhile, could be increased by around 3.5% starting in July as part of a separate bill.
France’s central bank forecast this month that French inflation would average 5.6% this year before falling to 3.4% in 2023 and easing to just below the European Central Bank’s 2% target in 2024.
($1 = 0.9475 euros)
Economic Indicators
Israel to let more Palestinians work in manufacturing to fill labour shortage
Published
1 day agoon
June 26, 2022By
letizo News
© Reuters. FILE PHOTO: A Palestinian worker holds up his ID card as he is processed after entering Israel through the Erez Crossing, on the border with Gaza, February 20, 2022. REUTERS/Amir Cohen
By Steven Scheer
JERUSALEM (Reuters) – Israel’s cabinet approved issuing 3,500 additional permits for Palestinian workers in Israel’s manufacturing and services sectors, increasing the number to 12,000 to help relieve a shortage of skilled staff, the Economy Ministry said on Sunday.
Workers from the West Bank and Gaza Strip, territories which Israel captured in the 1967 Middle East War, require permits to cross checkpoints and enter Israel where wages are higher.
Israel employs nearly 100,000 West Bank and Gaza Palestinian workers, according to the Israeli Population and Immigration Authority. But most work in construction or agriculture, with only a comparatively small number given permits for jobs in factories or the services sector.
Israel’s jobless rate is around 3%, and the economy ministry said the existence of 14,000 vacancies in manufacturing was creating a barrier to economic growth.
Economy Minister Orna Barbivai said in a statement that in addition to the extra work permits for Palestinians, the ministry plans to work to increase manufacturing productivity through automation and digitalisation.
The quota for Palestinian workers in manufacturing will automatically be reduced if the annual average unemployment rate in Israel rises above 7.5%, the government said.
Ron Tomer, head of Israel’s Manufacturers’ Association, called the decision to boost numbers of Palestinians allowed to work in Israel a “lifeline” for the industrial sector given severe shortages of workers.
“There are currently thousands of open jobs that manufacturers find difficult to fill, and we believe that increasing the quota will help reduce the severe shortage at least in the short and medium term and help the industry continue to operate and grow in Israel,” he said.
News


Morgan Stanley will cover U.S. employees’ travel for abortion services -source
© Reuters. The logo for Morgan Stanley is seen on the trading floor at the New York Stock Exchange (NYSE)...


West pledges support for Ukraine as missiles strike shopping centre
6/6 © Reuters. FILE PHOTO: A smoke rises over remains of a building destroyed by a military strike, as Russia’s...


Morgan Stanley Has Continued Conviction on Rockwell Automation’s Capex Cycle
© Reuters. Morgan Stanley Has Continued Conviction On Rockwell Automation’s (ROK) Capex Cycle By Sam Boughedda Speaking about Rockwell Automation...


U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.20%
© Reuters U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.20% Investing.com – U.S. stocks were...


Nike quarterly revenue beats on athletic wear demand
© Reuters. FILE PHOTO: People walk past a store of the sporting goods retailer Nike Inc at a shopping complex...


Wall Street ends down, pulled lower by growth stocks
© Reuters. FILE PHOTO: A trader works on the floor of the New York Stock Exchange (NYSE) in New York...


Spero Therapeutics Plummets 15% on FDA’s CRL for Tebipenem HBr New Drug Application
© Reuters. Spero Therapeutics (SPRO) Plummets 15% on FDA’s CRL for Tebipenem HBr New Drug Application By Davit Kirakosyan Spero...


SEC Chair Gary Gensler calls Bitcoin a commodity
© Reuters SEC Chair Gary Gensler calls Bitcoin a commodity In an appearance on CNBC’s Squawk Box on Monday, SEC...


U.S. appeals court vacates federal vaccine mandate pending additional hearing
© Reuters. FILE PHOTO: A resident over 50 years old and immunocompromised receives a second booster shot of the coronavirus...


U.S. abortion ruling ignites legal battles over state bans
2/2 © Reuters. FILE PHOTO: Abortion rights campaigners participate in nationwide demonstrations following the leaked Supreme Court opinion suggesting the...


Albemarle plans major U.S. lithium processing plant
© Reuters. FILE PHOTO: A sign at the approach road leads to Albemarle’s lithium evaporation ponds at its facility in...


The ‘Big Package’: How Russia was driven to default
© Reuters. FILE PHOTO: European Commission President Ursula von der Leyen arrives for the European Union leaders summit, as EU’s...


U.S. Supreme Court abortion ruling ignites new legal battles over state bans
2/2 © Reuters. FILE PHOTO: Abortion rights campaigners participate in nationwide demonstrations following the leaked Supreme Court opinion suggesting the...


Bankman-Fried’s FTX internally mulling Robinhood deal – Bloomberg News
© Reuters. The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s...


Dollar retreats as markets rethink Fed rate bets, eye ECB hikes
© Reuters. FILE PHOTO: U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic By Hannah...


Biden swipes at China with memorandum to combat illegal fishing
© Reuters. U.S. President Joe Biden attends a welcoming ceremony on the first day of the G7 summit at Bavaria’s...


Amtrak train derails in Missouri after hitting truck, injuries reported
(Reuters) -Several cars on an Amtrak train derailed in Mendon, Missouri, on Monday after hitting a dump truck at a...


FTX Said Exploring Potential Robinhood Acquisition, News Seen as ‘Positive’
FTX Said Exploring Potential Robinhood (HOOD) Acquisition, News Seen as ‘Positive’ By Sam Boughedda FTX, the crypto exchange founded by...


At least 13 killed in Russian missile strike on shopping mall, Ukraine says
2/2 © Reuters. Ukraine’s President Volodymyr Zelenskiy attends a working session of G7 leaders via video link, as Russia’s attack...


Oil up 2% on Bets G7 Move Versus Russia Will Further Tighten Supply
© Reuters. By Barani Krishnan Investing.com — Crude markets rallied on Monday on speculation that the predominantly-Western Group of Seven...


Bankman-Fried’s FTX seeking path to buy Robinhood – Bloomberg News
© Reuters. The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s...


Refining Tightness to Persist, Even in a Recession – Piper Sandler
© Reuters. Refining Tightness to Persist, Even in a Recession – Piper Sandler By Sam Boughedda Piper Sandler Senior analyst...


U.S. Supreme Court overturns Roe v. Wade, ends constitutional right to abortion
9/9 © Reuters. Demonstrators gather in front of Planned Parenthood after the United States Supreme Court ruled in the Dobbs...


Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH
Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467...


Holonus to announce its listing on LBank
© Reuters Holonus to announce its listing on LBank Holonus – Blockchain-based Best Ecosystem Platform for Next Generation Humanity in...


Biden administration signals fight over medication abortion
2/2 © Reuters. FILE PHOTO: Abortion rights protesters demonstrate after the U.S. Supreme Court ruled in the Dobbs v Women’s...


UK public inflation expectations fall to lowest since January -Citi/YouGov
© Reuters. FILE PHOTO: People shop at market stalls, with skyscrapers of the CIty of London financial district seen behind,...


Mining firms poised to lead capital raisings in Canada, TSX CEO says
© Reuters. FILE PHOTO: Visitors to the BHP (formerly known as BHP Billiton) booth speak with representatives during the Prospectors...


Biden signs memorandum to combat illegal fishing
© Reuters. U.S. President Joe Biden attends a welcoming ceremony on the first day of the G7 summit at Bavaria’s...


GE CEO Culp expands role to head aviation unit
© Reuters. FILE PHOTO: General Electric Co. Chief Executive Officer Larry Culp mingles with shareholders at the company’s annual meeting...
Trending
- Coronavirus7 months ago
Biden administration still seeking agreement from Mexico on return of asylum seekers
- Cryptocurrency8 months ago
NFT World Records: CryptoDragons Sold Out 500 Eggs in Its Primary Pre-Sale in Тhe Тwinkling of аn Еye!
- Cryptocurrency8 months ago
Crypto.com is the #1 app in the Google Play Store in the US
- Economy7 months ago
Analysis-Europe’s big payday remains elusive even as inflation surges
- Cryptocurrency8 months ago
The Next Web 3.0 Social Media Will Be Built on Solana
- Cryptocurrency7 months ago
Binance.US aims for ‘mega funding,’ reveals CZ
- Cryptocurrency7 months ago
The Most Expensive NFT in The Sandbox Metaverse Sold for $650,000
- Forex7 months ago
Dollar Consolidates After Strong Gains; Tapering Could Be Speeded Up