Big companies manage to pass on soaring costs to cash-strapped consumers

Some of Europe’s biggest companies report sales increases for the first quarter of 2022, with Nestle, Danone, and Akzo Nobel saying they were able to accomplish the gains while raising their prices ZURICH, Switzerland – Makers of chocolate bars and coffee to lawn mowers and industrial robots succeeded in passing on soaring costs to consumers, … Read more

South Korea votes for new leader to tackle COVID-19, soaring house prices, inequality

It shapes up as a tight two-way race between Lee Jae-myung, the standard-bearer of the ruling Party, and Yoon Suk-yeol, from the conservative main opposition People Power Party SEOUL, South Korea – Some 44 million South Koreans headed to polls to elect the country’s next president on Wednesday, March 9, capping a race that has … Read more

Soaring prices set stage for eventual reversal of oil, gas demand

HOUSTON, USA – Oil prices running at their hottest level in 14 years are poised to cut post-COVID-19 pandemic fuel demand as consumers react to surging pump and power prices by pulling back on spending and travel, top energy executives warned on Monday, March 7. Global oil futures hit as much as $139 a barrel … Read more

Carmakers face soaring metal costs with Russian supplies at risk

LONDON, United Kingdom – Saving up for a new ride? Better start putting more cash aside. Russia’s invasion of Ukraine is ramping up the price of metals used in cars, from aluminum in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are likely to foot the … Read more