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Japan's Suzuki says FX rates should be set by markets
Japan's Suzuki says FX rates should be set by markets
TOKYO Japanese Finance Minister Shunichi Suzuki said on Friday currency rates should be set by markets based on
2023-05-26 09:22
Tesla’s New CFO Now Has Two Jobs and a Lot of Question Marks
Tesla’s New CFO Now Has Two Jobs and a Lot of Question Marks
Tesla Inc. has a long history of promoting talent from within. Outside hires don’t last for very long
2023-08-08 19:56
What to stream this week: Dolly Parton rocks out, 'The Crown' returns, 'Rustin' creates a march
What to stream this week: Dolly Parton rocks out, 'The Crown' returns, 'Rustin' creates a march
This week’s new entertainment releases include an album of rock songs by Dolly Parton, the first half of the final season of “The Crown” returns to Netflix and three dudes from “Saturday Night Live” get their first feature-film shot
2023-11-13 13:16
What's at stake when Turkey's leader meets Putin in a bid to reestablish the Black Sea grain deal
What's at stake when Turkey's leader meets Putin in a bid to reestablish the Black Sea grain deal
Turkish President Recep Tayyip Erdogan will meet with Vladimir Putin in a bid to persuade the Russian leader to rejoin the Black Sea grain deal that Moscow broke off from in July
2023-09-03 14:17
Why Janet Yellen’s frequent stops in India are important at a time of tensions with China
Why Janet Yellen’s frequent stops in India are important at a time of tensions with China
US treasury secretary Janet Yellen is back in India for the third time in nine months, this time to meet finance ministers from the Group of 20 nations about global economic challenges like the increased threat of debt defaults facing low-income countries. Ms Yellen will use her time in Gandhinagar to try to foster warming relations between the US and India. She also plans a stop in Hanoi, Vietnam, to address supply chain reliability, clean energy transition and other matters of economic resilience. Ms Yellen's goals for her time in India: press for debt restructuring in developing countries in economic distress, push to modernize global development banks to make them more climate-focused and deepen the ever-growing US-India relationship. Ms Yellen’s frequent stops in the country signal the importance of that relationship at a time of of tensions with China. India’s longstanding relationship with Russia also will loom as the Kremlin's invasion of Ukraine continues despite US and allied countries’ efforts to sanction and economically bludgeon Russia's economy. India has not taken part in the efforts to punish Russia and maintains energy trade with that country despite a Group of Seven agreed-upon price cap on Russian oil, which has seen some success in slowing Russia's economy. Still, the US increasingly relies on India and has courted its leaders. President Joe Biden hosted a White House state visit honoring Indian prime minister Narendra Modi in June, designed to highlight and foster ties. The two leaders pronounced the US-India relationship never stronger and rolled out new business deals between the nations. Raymond Vickery Jr, a policy expert on US-India relations at the Center for Strategic and International Studies, said Ms Yellen's coming to India shortly after visiting China is meaningful in that Indian officials “are going to want to know in great detail what happened in the meetings with her Chinese counterparts and see where it fits with their perspective on economic relations with China.” “They’re going to want to know whether or not the United States is serious about moving some of its sourcing activity from China to India.” A senior Treasury official, speaking on condition of anonymity to preview Ms Yellen’s trip, said there was hope that debt treatments for Ghana and Sri Lanka will be discussed and completed quickly at the meetings. Sri Lanka and Ghana defaulted on their international debts last year, roughly two years after Zambia defaulted. And more than half of all low-income countries face debt distress, which hurts their long-term ability to function and develop. Last month, Zambia and its government creditors, including China, reached a deal to restructure $6.3bn in loans, on the sidelines of a global finance summit in Paris. The agreement covers loans from countries such as France, the U.K., South Africa, Israel and India as well as China – Zambia’s biggest creditor at $4.1bn of the total. The deal may provide a roadmap for how China will handle restructuring deals with other nations in debt distress. Ms Yellen’s trip comes shortly after she spent a week in China, meeting the nation’s finance ministry and discussing mutual trade restrictions and national security concerns. Harold W Furchtgott-Roth, a senior fellow at the Hudson Institute, said Ms Yellen's trip to India “is a reflection of a naturally developing alliance.” “India has a great deal of tension with China – they have constant border disputes,” he said. “And India wants to develop and has developed into sort of an Indian Ocean naval power, which is also a region that China wants to develop." Read More What Britain needs is a ‘grown-up’ relationship with China US Treasury Secretary Janet Yellen visits China as part of efforts to sooth strained relations Yellen says Washington might 'respond to unintended consequences' for China due to tech export curbs Janet Yellen expresses hopes her Beijing visit has put US-China ties on a ‘surer footing’ Janet Yellen highlights record US-China trade and talks ‘fair rules’ during Beijing visit Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide
2023-07-16 19:16
ECB rate hike impact on inflation small so far, but more coming: ECB Bulletin
ECB rate hike impact on inflation small so far, but more coming: ECB Bulletin
FRANKFURT Rapid European Central Bank rate hikes lowered inflation modestly last year but the biggest impact is expected
2023-05-15 16:29
Rivian’s EV Output Beats Expectations as Production Picks Up
Rivian’s EV Output Beats Expectations as Production Picks Up
Rivian Automotive Inc. built more battery-electric vehicles last quarter than Wall Street had anticipated as the company works
2023-07-03 20:50
Trafigura’s Copper Uber-Bull Leaves as Metals Drama Rolls On
Trafigura’s Copper Uber-Bull Leaves as Metals Drama Rolls On
Kostas Bintas, the former co-head of metals at commodity trading giant Trafigura Group, is leaving the company after
2023-11-13 18:46
Biden Hails Start of Truce, Expects More Hostages to be Freed
Biden Hails Start of Truce, Expects More Hostages to be Freed
President Joe Biden praised the first release of hostages by Hamas and said the US expects more captives
2023-11-25 03:51
Chevron Australia LNG unions stick to strike plan even as pay talks continue
Chevron Australia LNG unions stick to strike plan even as pay talks continue
By Lewis Jackson SYDNEY Unions at Chevron's liquefied natural gas (LNG) facilities in Australia reaffirmed their plan to
2023-10-16 10:54
China’s Zijin Mulls $3.8 Billion Expansion of Serbia Copper Mine
China’s Zijin Mulls $3.8 Billion Expansion of Serbia Copper Mine
China’s Zijin Mining Group Co. is developing plans to expand its copper mine in eastern Serbia due to
2023-08-28 14:56
Delivery apps charge double for some supermarket groceries – Which?
Delivery apps charge double for some supermarket groceries – Which?
Ordering supermarket groceries via a delivery app such as Deliveroo, Just Eat or Uber Eats could cost twice the price of buying directly from the same store, according to Which? Meanwhile, Amazon is charging up to 45% more for Morrisons products than if they were bought from the supermarket’s own website, the consumer group found. Which? acknowledged that ordering groceries from Deliveroo, Just Eat or Uber Eats is “undeniably convenient” and could be received in as little as 30 minutes, but warned it found “shocking” price differences across a range of products in its snapshot investigation. It compared the price of a basket of 15 popular grocery items at five major supermarkets against the cost of ordering the same basket from the same supermarket to the same postcode via a delivery app, not including delivery fees. Almost all of the items were either more expensive on the delivery apps or the same price. Ordering groceries from Deliveroo, Just Eat or Uber Eats is undeniably appealing but the cost of this convenience could be double what you'd pay if you cut out the middleman Ele Clark, Which? Which? also found that customers would pay on average 8% more for Morrisons groceries via Amazon than by ordering directly from the supermarket. In one case, a 250g pack of Country Life unsalted butter cost 45% more on Amazon. The rapid delivery apps also charged a premium of as much as 106% in one instance. The Which? basket, which included branded goods such as Doritos crisps alongside own-label milk and ready meals, would have cost £36.63 from Iceland, but getting the same items delivered from the same Iceland store by Just Eat would have cost £50.50, not including delivery fees – a 38% premium. In some individual price differences, own-brand Fairtrade bananas cost 85p at Sainsbury’s and £1.75 on the three apps, Warburtons Toastie Thick Sliced White Bread cost £1 on Iceland’s website but £2 on Just Eat and Uber Eats, while Hovis Best of Both Medium Bread cost £1.19 on the Morrisons website but £2.05 from Uber Eats. Other examples included Asda own-brand Pinot Grigio costing £7 on the supermarket’s website and £9.10 on all three apps. Which? retail spokeswoman Ele Clark said: “Ordering groceries from Deliveroo, Just Eat or Uber Eats is undeniably appealing but the cost of this convenience could be double what you’d pay if you cut out the middleman. “As well as the extra cost on your groceries, you’ll probably have a delivery fee too, so it’s worth weighing this up before ordering anything to your door.” Customers who choose to order groceries via apps like ours do so because of the convenience, speed and choice on offer from rapid delivery Uber Eats A Deliveroo spokeswoman said: “The prices for grocery items available on the Deliveroo platform are set by our grocery partners. “Deliveroo always seeks to deliver great choice, availability and value for money to our customers, and we have agreed price-matching with our grocery partners including Morrisons, Co-op, Asda and more across hundreds of items.” An Uber Eats spokeswoman said: “Everyone who partners with Uber Eats sets their own prices and we always encourage them to match the prices offered in-store. “Customers who choose to order groceries via apps like ours do so because of the convenience, speed and choice on offer from rapid delivery.” A Just Eat spokeswoman said: “At Just Eat, we want all of our customers to have a positive experience when ordering from our platform. We work with more than 75,000 partners across the UK, giving our millions of customers access to choice and convenience through a variety of local takeaway options, restaurant brands and grocery stores. “As independent businesses, any restaurant or grocer using Just Eat are in control of their menus and set the prices they charge. We continue to work closely with our partners to bring value to our customers.” Amazon said that all prices of products sold through the ‘Morrisons on Amazon’ service were set by Morrisons, and added that being able to shop for Morrisons groceries on Amazon offered customers fast delivery options and value. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live Therapist develops secret app to help abuse victims Artificial intelligence warning over human extinction labelled ‘publicity stunt’ ‘I feel lost’ – AI pioneer speaks out as experts warn it could wipe out humanity
2023-06-03 07:21