Due to the high prices, sales in Dutch stores increased by almost 2 percent in August compared to a year earlier, statistics agency CBS reports. That sales rose due to high inflation, is clear. Sales were down 6 percent in August, but retail sales were still up. Especially at supermarkets and other grocery stores, more sales were made, although people also went to the checkout with a lighter...
Stock markets around the world ended the week with significant losses. In New York, the Dow Jones Industrial Average fell 1.6 percent from a day earlier, to its lowest level since the end of 2020. Fears of a recession have been pushing prices down for weeks. That fear is compounded by recent interest rate hikes and the new UK government’s budget plans announced today. Investors are worried...
On the sidelines of the regional security summit in Samarkand (Uzbekistan), Russian president Putin and Indian Prime Minister Modi will meet later today. Since the Russian invasion of Ukraine at the end of February, trade between Russia and India has more than doubled. In particular, India has increased imports of cheap Russian oil. The government in New Delhi is not happy about the Western...
European energy ministers will meet on Friday to discuss measures to contain the effects of high energy prices. European Commission President Ursula von der Leyen on Wednesday announced a number of plans that will be presented to European ministers. What does this mean for you? European leaders have been working for months on a plan to contain the effects of high energy prices. When Russia...
Damco Aluminium in the Groningen Farmsum (near Delfzijl) immediately stops production due to the high energy costs. According to the company’s management, temporary shutdown is the only option “due to the sky-high energy prices and a lack of government support”. The decision has major consequences for the approximately 200 employees. The factory has been put into care and...
The fact that inflation in the United States seems to be above its peak also ensures profits on the stock exchanges in Asia. In Hong Kong, Shanghai, Seoul and Sydney, among others, the gauges were on profit. In the markets, it is taken into account that the US Federal Reserve is becoming more reluctant to raise interest rates now that monetary devaluation seems to be decreasing. In the meantime...
The manufacturer of meat substitutes Beyond Meat is suffering from high inflation. Now that the purchasing power of many people is rapidly declining, the relatively expensive vegetarian burgers and sausages from the American company are less in demand. The company is therefore counting on much less turnover this financial year than previously expected. Across 2022, Beyond Meat now plans to sell...
Manufacturers of cola, KitKat and Calvé peanut butter, among others, have recently increased their prices or will do so in the coming months. McDonald’s also announced an increase in the UK. The reason for this is the ever-increasing costs, such as those for energy and raw materials. For example, Nestlé announced on Thursday that it increased its prices by an average of 6.5 percent in the...
The European Central Bank (ECB) is raising interest rates by half a percentage point in one fell swoop, more than previously announced. The rate hike, the first since 2011, ends an unusual and eight-year period of negative interest rates. The ECB wants to contain the sky-high inflation with the substantial interest rate increase. In terms of size, the interest rate hike is extraordinary, a...
Amazon has promised to no longer use data from competing sellers on its platform. The company is trying to come under two competition investigations by the European Commission, reports Reuters news agency on Thursday. The webshop platform would counterfeit products that sell well through its own brands. The company would compete unfairly, the European Commission suspects. Amazon is also going to...