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☆ Meta says it will appeal US judge's ruling in privacy fight with FTC
▼ + stars: | 2023-11-28 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +2 min

A Meta logo is seen on a beach during the Cannes Lions International Festival of Creativity in Cannes, France, June 19, 2023. Judge Timothy Kelly of the U.S. District Court for the District of Columbia denied a motion filed by Meta on Monday for the court to hear the dispute with the Federal Trade Commission (FTC). Meta in a court filing on Tuesday said it would appeal Kelly's decision to the U.S. Court of Appeals for the District of Columbia. The dispute started in May when the FTC proposed changing a settlement reached in 2019 that required Facebook, which became Meta in 2021, to pay $5 billion. The FTC said it would tighten the 2019 settlement to bar Meta from making money off data collected on users under age 18, including in its virtual reality business.

Persons: Eric Gaillard, Timothy Kelly, Diane Bartz, Mark Porter, Richard Chang Organizations: Cannes Lions International, Creativity, REUTERS, WASHINGTON, Facebook, U.S, District of Columbia, Meta, Federal Trade Commission, U.S ., Appeals, FTC, Thomson Locations: Cannes, France, U.S

☆ Exclusive: Meta's head of augmented reality software stepping down
▼ + stars: | 2023-11-17 | by ( Katie Paul | ) www.reuters.com time to read: +3 min

REUTERS/Eric Gaillard/File Photo Acquire Licensing RightsNEW YORK, Nov 16 (Reuters) - Meta's (META.O) head of augmented reality software is stepping down from his role, a company spokesperson told Reuters on Friday, raising questions about the company's progress in developing a custom operating system for its planned AR glasses. A Meta spokesperson confirmed Box would be leaving the company at the end of this week and said he was doing so for personal reasons. It aims to ship its first AR glasses to consumers in 2027. The Meta spokesperson declined to address the roadmap or whether the OS that Box's team was building would be in the first generation AR glasses. Box is known for having led the creation of the Xbox One operating system and later heading Microsoft's core operating system group, which works across all Windows products.

Persons: Eric Gaillard, Don Box, Mark Zuckerberg, Andrew Bosworth, Meta, Katie Paul, Kenneth Li, Daniel Wallis Organizations: Cannes Lions International, Creativity, REUTERS, Meta, Reuters, Labs, Microsoft, Xbox, Thomson Locations: Cannes, France

☆ Environmental groups urge funding halt for TotalEnergies' Mozambique project
▼ + stars: | 2023-11-17 | by ( Wendell Roelf | ) www.reuters.com time to read: +3 min

TotalEnergies signs are seen at a petrol station in Nice, France, October 10, 2022. The letter, seen by Reuters, comes at a crucial juncture for the French energy company as it prepares to relaunch Africa's largest foreign direct investment project. Activists warn the project may worsen climate change and fuel human rights abuses in the impoverished southern African nation. TotalEnergies said before Friday's letter that arrangements for project finance remain in place despite a 'force majeure' halt in 2021 when Islamist militants threatened the project site. The project delay has led some investors to reassess their previous cost assumptions in light of inflation and global gas market swings.

Persons: Eric Gaillard, Banks, TotalEnergies, Ntshengedzeni Maphula, Reta Jo Lewis, Wendell Roelf, Toby Sterling, Nellie Peyton, Forrest Crellin, Mathieu Rosemain, Yuka Obayashi, Tim Cocks, Olivia Kumwenda, Elaine Hardcastle Organizations: REUTERS, Reuters, ActionAid International, Greenpeace, African Development Bank, Societe Generale, Africa's Export Credit Insurance Corporation, Thomson Locations: Nice, France, Mozambique, Greenpeace France, Netherlands, U.S, Exim, Cape Town, Amsterdam, Johannesburg, Paris, Tokyo

A logo of Spotify is seen on a beach during the Cannes Lions International Festival of Creativity in Cannes, France, June 20, 2023. Spotify has been an early adopter of AI, which it used for music recommendation algorithms a decade earlier. The Swedish company is now aiming to use LLMs to replicate that across its non-music content such as podcasts and audiobooks. The music streaming giant has been looking to boost its earnings by increasing its slate of revenue-generating formats such as podcasts and audiobooks. With the expanded Google partnership, Spotify is also exploring the use of LLMs to provide a safer listening experience and identify potentially harmful content.

Persons: Eric Gaillard, Google Bard, Gustav Söderström, Supantha Mukherjee, Savio D'Souza Organizations: Spotify, Cannes Lions International, Creativity, REUTERS, Rights, Google, Thomson Locations: Cannes, France, Rights STOCKHOLM, Swedish, Stockholm

☆ Europe's problems are far bigger than a shallow recession
▼ + stars: | 2023-11-14 | by ( Balazs Koranyi | ) www.reuters.com time to read: +5 min

Deep structural problems mean Europe is bound to trail most other big economic areas for years to come. The labour market remains tight and the world economy is rebounding, so external demand is also likely to be healthier. Fearing it will be difficult to hire in future, firms are now hanging onto workers, creating even more labour market tightness, potentially fuelling wage growth and weakening productivity. The potential growth rate for Europe's largest economy is now below 1%. European Union governments are meanwhile struggling to reach consensus on bigger questions that will help shape the future.

Persons: Philip Lane, Erik Nielsen, Eric Gaillard, Europe's, There's, Lane, Reinhard Cluse, Mark John, Catherine Evans Organizations: Central Bank's, REUTERS, European Commission, UBS, European Union, Thomson Locations: FRANKFURT, Europe, Nice, France, United States, Germany

Actor Patrick Dempsey poses during a photocall for the television series "Devils" during the annual MIPCOM television programme market in Cannes, France, October 14, 2019. REUTERS/Eric Gaillard/File Photo Acquire Licensing RightsNov 7 (Reuters) - "Grey's Anatomy" actor Patrick Dempsey was named People magazine's "sexiest man alive" for 2023 on Tuesday, taking over the title from 2022 honoree and Marvel star Chris Evans. In December, Dempsey will be seen in the biopic "Ferrari", directed by Michael Mann, portraying Italian Formula One driver Piero Taruffi opposite Adam Driver and Penelope Cruz. When Dempsey found out the movie was being made, he took a risk and called Mann to ask for a part. "I'd been following the movie for years, so I called Michael," he recalled.

Persons: Patrick Dempsey, Eric Gaillard, magazine's, Chris Evans, Dempsey, I've, Derek, McDreamy, Shepherd, Jillian, Sullivan, Darby, They're, Ferrari, Michael Mann, Piero Taruffi, Adam Driver, Penelope Cruz, Mann, I'd, Michael, Danielle Broadway, Alicia Powell, Miral Organizations: REUTERS, Marvel, Italian, Center, Thomson Locations: Cannes, France

December Brent crude futures , set to expire on Tuesday, rose 36 cents, or 0.41%, to stand at $87.81 a barrel by 0305 GMT. "If this evolves into a full-scale invasion and there is involvement from Iran, tighter supply worries could resurface." In a note, ING analysts said, "Disruptions to Iranian oil flows remain the most obvious risk to the market." Such lost supply could range between 500,000 barrels per day (bpd) and 1 million bpd if the United States strictly enforces sanctions once again, they added, although Middle East developments had yet to affect oil supply. Weaker-than-expected manufacturing and non-manufacturing activity data from China stoked fears of slowing fuel demand from the world's No.

Persons: Eric Gaillard, Brent, Leon Li, China stoked, CME's, Laura Sanicola, Trixie Yap, Clarence Fernandez Organizations: REUTERS, . West Texas, Federal Reserve, Markets, ING, U.S, Thomson Locations: Nice, France, China, Wednesday's U.S, Gaza, Iran, Shanghai, Israel, United States, Venezuela, riven

REUTERS/Eric Gaillard/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Oct 26 (Reuters) - Google executive Prabhakar Raghavan on Thursday detailed challenges the search and advertising giant faces from smaller rivals, describing efforts to avoid becoming "the next road kill." "I feel a keen sense not to become the next road kill," said Raghavan, a senior vice president at Google who reports to chief executive Sundar Pichai. Raghavan said Google had some 8,000 engineers and product managers working on search, with about 1,000 involved in search quality. Asked about the expression "Grandpa Google," Raghavan said "unfortunately, yes" he had heard it. "Grandpa Google will help with things like homework but when it comes to interesting things, they go elsewhere," he said.

Persons: Eric Gaillard, Prabhakar Raghavan, Raghavan, Alphabet's, TikTok, Sundar Pichai, Microsoft's Bing, Google, Grandpa, Diane Bartz, Tomasz Janowski Organizations: REUTERS, Rights, U.S . Justice Department, Yahoo, Google, Grandpa Google, Thomson Locations: Expedia.com, Instagram

☆ French food group Danone raises sales goal as Q3 beats forecasts
▼ + stars: | 2023-10-26 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

Dairy products of French food group Danone are seen in a supermarket in Nice, France, January 9, 2023. REUTERS/Eric Gaillard/File photo Acquire Licensing RightsPARIS, Oct 26 (Reuters) - French food group Danone (DANO.PA) raised its 2023 revenue growth forecast after its third-quarter sales beat analysts' estimates, as higher prices helped offset lower volumes. Overall, Danone increased its prices by 6.6% during the quarter while sales volume declined 0.3%, a sequential improvement led by Essential Dairy and Plant-based. Danone, like its rivals Nestle (NESN.S) and Unilever (ULVR.L), has increased prices to cope with higher commodities and supply chain costs. Last week, Nestle (NESN.S) posted lower-than-expected nine-month sales growth as higher product prices made shoppers balk.

Persons: Eric Gaillard, Antoine de Saint, Affrique, Dominique Vidalon, Sudip Kar, Gupta, Jacqueline Wong Organizations: Danone, REUTERS, Rights, Evian, Essential Dairy, Nestle, Unilever, Investors, Thomson Locations: Nice, France, Europe

The company posted a third-quarter operating income of 32 million euros ($34.1 million), its first quarterly profit since 2021, helped by a higher gross margin and lower marketing and personnel costs. "We believe moving forward, we should see pretty consistent growth in our operating income," its Chief Financial Officer Paul Vogel said. It forecast operating income of 37 million euros in the current quarter. Revenue rose 11% to 3.36 billion euros, beating estimates of 3.33 billion. Analysts were expecting a forecast of 232.4 million premium subscribers and revenue of 3.69 billion euros.

Persons: Eric Gaillard, Paul Vogel, Daniel Ek, Vogel, Supantha Mukherjee, Kirsten Donovan, Jan Harvey Organizations: Spotify, Cannes Lions International, Creativity, REUTERS, Companies, Reuters, Thomson Locations: Cannes, France, STOCKHOLM, LSEG, Stockholm

☆ Campaigners say Europe's car leasing giants lag shift into electric gear
▼ + stars: | 2023-10-18 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

But by examining car registration data T&E said that, with the exception of ALD, the leasing companies' claims are false. "Our investigation clearly shows that all leasing companies... are making green leadership claims that are not backed up by evidence," the report says. "In other words, leasing companies are greenwashing." Across the EU as a whole, T&E found EVs made up just over 10% of leasing companies' car purchases, the same share as for the rest of the market. "What remains unclear is whether the major leasing companies will take these steps or remain rooted in the fossil age."

Persons: ZE, Eric Gaillard, Arval, EVs, Nick Carey, Barbara Lewis Organizations: Renault, REUTERS, Transport & Environment, Wednesday, Societe Generale, ALD, BNP, Ford, Nissan, Credit, Financial Services, Thomson Locations: Cagnes, Mer, France

The Justice Department has called witnesses who testified about Google's payments, billions of dollars annually, to smartphone makers and wireless companies to make Google search the default on devices, and win more users. Others testified how search dominance led to clout in online advertising, including the ability to quietly raise ad prices. He also testified about how Google used machine learning tools that it developed to improve its search. Nayak's discussions of improving search appeared to downplay the role that search query volume played, implicitly disagreeing with Microsoft (MSFT.O) CEO Satya Nadella's arguments that his company needed more search queries to improve its Bing search engine but was being blocked by Google. Nayak also testified that Google compared its results to answers from Microsoft's search engine Bing, and found Bing to be lower quality.

Persons: Eric Gaillard, Pandu Nayak, Satya Nadella's, Amit Mehta, Nayak, Bing, Diane Bartz, Marguerita Choy Organizations: REUTERS, Microsoft, WASHINGTON, Google, The, Thomson

☆ Who is El Deif, alleged mastermind of the Hamas’ attack?
▼ + stars: | 2023-10-14 | by ( Sam Kiley | ) edition.cnn.com time to read: +8 min

He’s now in charge of Hamas’ military wing, the Al Qassem Brigades. And on the ground, in private conversations, it’s been difficult to find people who are genuinely behind Hamas military campaigning. Men like El Deif, the bomb makers and decision takers, were hunted by Israel. Key to this change, too, was another major figure in Hamas’ military wing, Yahya Sinwar. I think this will spell the end of Hamas.”That may be a zero-sum option that not even the shadowy El Deif had guessed at.

Persons: Khan Younis, Sheikh Ahmed Yassin gasped, ”, Sheikh Ahmed Yassin, Eric Gaillard, —, ” Mohammed Diab Ibrahim al, Masri, El Deif, He’s, Al Qassem, Mkhaimar Abusada, Yassir Arafat, Mahmud Hams, it’s, El, Israel, Dor Kedmi, Yahya Sinwar, Al, he’s, Karim von Hippel, “, hasn’t Organizations: CNN, British, Hamas, Reuters, Al Qassem Brigades, Al Azah University, Palestine Liberation Organization, Israel, Brigades, Getty, Palestinian Authority, Fatah, West Bank, Islamic, Royal United Services Institute Locations: Gaza, Deira, Israel, Gaza City, El, Oslo Accords, AFP, Jerusalem, Tel Aviv, Egypt, Aqsa, Iran, Tehran, Rehovot, Hamas, Back, Syria, Yom, Lebanon, London

A woman holds her smart phone which displays the Google home page, in this picture illustration taken February 24, 2016. Google's James Kolotouros, who negotiated search distribution agreements with Android device makers and carriers, testified the agreements gave Google search exclusivity, and Google monitored compliance with them. Advertisers are not told their LTV, and Google uses "tunings" to adjust the price of ads, he said. Google's vice president and general manager of ads, Jerry Dischler, acknowledged that Google earned more than $100 billion in 2020 from search ads. Apple's (AAPL.O) senior vice president of services Eddie Cue praised Google's search and acknowledged under questioning that the smartphone maker had meetings with Microsoft and DuckDuckGo, which uses Bing searches, but found them inadequate.

Persons: Eric Gaillard, Google's James Kolotouros, Adam Juda, Joshua Lowcock, Jerry Dischler, Satya Nadella, Eddie Cue, Bing, John Schmidtlein, Google's, Diane Bartz, Marguerita Choy Organizations: REUTERS, U.S, Google, Department, GOOGLE, Verizon, Samsung, LTV, UM Worldwide, Microsoft, Apple, Nokia, Bing, Thomson Locations: WASHINGTON

A woman holds her smart phone which displays the Google home page, in this picture illustration taken February 24, 2016. Google's vice president and general manager of ads, Jerry Dischler, acknowledged that Google earned more than $100 billion in 2020 from search ads. GOOGLE'S DEFENSE NO. GOOGLE'S DEFENSE NO. GOOGLE DEFENSE NO.

Persons: Eric Gaillard, Sundar Pichai, Kevin Murphy, Apple, Joshua Lowcock, Jerry Dischler, Eddie Cue, Bing, John Schmidtlein, Google's, Jennifer Fitzpatrick, Diane Bartz, Marguerita Choy Organizations: REUTERS, U.S, Google, Justice Department, Verizon, Samsung, University of Chicago Booth School of Business, Microsoft, UM Worldwide, Nokia, Bing, GOOGLE, Core Systems, Thomson Locations: WASHINGTON

European distillate inventories were 25 million barrels (-6% or -0.84 standard deviations) below the seasonal average at the end of September. Singapore distillate stocks averaged 3 million barrels (-23% or 1.30 standard deviations) below the seasonal average in September. Chartbook: Global distillate inventories and pricesPortfolio investors have been reducing their exposure to middle distillates since late August, which has likely anticipated, accelerated and amplified the retreat in prices and margins. But inventories are already tight; any expansion will cause them to deplete further, rapidly putting renewed upward pressure on prices. Related columns:- U.S. manufacturing rebound will stretch diesel supplies (October 5, 2023)- Funds grow bullish on crude, cautious on distillates (September 18, 2023)- Global diesel shortage boosts prices (September 13, 2023)- U.S. diesel prices surge anticipating a soft landing (August 11, 2023)John Kemp is a Reuters market analyst.

Persons: Eric Gaillard, John Kemp, Jane Merriman Organizations: REUTERS, ICE Futures, U.S . Commodity Futures Trading Commission, U.S . Energy Information Administration, Global, U.S, Thomson, Reuters Locations: Nice, France, Singapore, New York, United States, U.S, Europe, China

A redacted transcript unsealed late on Wednesday showed DuckDuckGo had struck a deal with Apple in 2014 to be shown as an option on Apple devices. Soon after, DuckDuckGo began pressing Apple to be made the default choice for users who wanted to work in privacy mode, which limited data collected on the user. DuckDuckGo has about 2.5% of the search market, he testified. In those meetings, Weinberg said, Apple executives would bring up the concern that its distribution agreements with Google may bar the change. The Justice Department has said that Google, which has some 90% of the search market, pays some $10 billion annually to Apple, other smartphone makers and others to be the default search.

Persons: Eric Gaillard, DuckDuckGo, Gabriel Weinberg, Weinberg, Apple, Apple's John Giannandrea, Bing, Giannandrea, Diane Bartz, Richard Chang, Marguerita Choy Organizations: REUTERS, Rights, Apple, Google, Thomson

A woman holds her smart phone which displays the Google home page, in this picture illustration taken February 24, 2016. The testimony came during the third week of a more than two-month trial in which the U.S. Justice Department is seeking to show that Alphabet's Google (GOOGL.O) abused its monopoly of search and some search advertising. Alexander Austin, a former chief executive of Branch Metrics, said in meetings with Samsung, the Android phone maker was worried Branch's tools would cause conflict with Google. Specifically, Branch had to make sure that its searches remained within apps and never linked to the web. The government also called Anna Kartasheva, a Google executive, to ask her about emails that appeared to show Google was concerned about the presence of Branch Metrics software on smartphones.

Persons: Eric Gaillard, Alexander Austin, Austin, Branch, Anna Kartasheva, Diane Bartz, Josie Kao Organizations: REUTERS, Rights, Branch, U.S . Justice Department, Google, Samsung, Thomson

☆ France's services sector contracts sharply in September - flash PMI
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Eric Gaillard Acquire Licensing RightsPARIS, Sept 22 (Reuters) - France's dominant services sector contracted at an even sharper pace in September, a monthly survey showed on Friday, as falls in demand and new orders weighed on the euro zone's second-biggest economy. The flash September manufacturing PMI number came in at 43.6 points - also much lower than the 46.0 points in August and way off a Reuters poll forecast of an unchanged level. The August composite flash PMI number comprising both the services and manufacturing sectors stood at 43.5 points, down from the final 46.0 August composite number and well below a Reuters poll forecast of 46.0. Business activity has fallen sharply in both the service and manufacturing sectors in September, mainly due to a slump in demand for French products and services. It is important to note however that this will be almost entirely driven by the public service sector," Liebke added.

Persons: Eric Gaillard, Norman Liebke, Liebke, Benoit Van Overstraeten, Toby Chopra Organizations: REUTERS, Rights, P Global, Commercial Bank, French National Bank, Thomson Locations: Nice, France

☆ Uber Eats to roll out AI features, more payment options
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

A delivery worker with a backpack of Uber Eats rides a bike in Nice, France, October 25, 2022. REUTERS/Eric Gaillard Acquire Licensing RightsSept 20 (Reuters) - Uber Technologies (UBER.N) will accept more payment options on its food delivery platform and roll out an artificial intelligence (AI)-powered assistant to help users find deals and explore different food options, the company said on Wednesday. Uber Eats will get a dedicated section to showcase promotional offers called "Sales Aisle". Food delivery platforms have been investing in AI as they attempt to offer a more curated service and make their apps more convenient. Uber said it has also tied up with federal healthcare programs such as Managed Medicaid and Medicare Advantage, and would begin accepting relevant waiver payments on both Uber and Uber Eats in 2024.

Persons: Eric Gaillard, OpenAI, Uber, Arsheeya, Shilpi Majumdar Organizations: REUTERS, Technologies, Bloomberg News, Assistance, Thomson Locations: Nice, France, Bengaluru

A Meta logo is seen on a beach during the Cannes Lions International Festival of Creativity in Cannes, France, June 19, 2023. The authors said in the OpenAI case that works like books and plays are particularly valuable for AI language training as the "best examples of high-quality, long form writing." Meta and OpenAI were also sued for copyright infringement in July by a separate group of authors that includes comedian Sarah Silverman, part of a growing list of copyright cases against AI companies. Meta published a list of datasets used to train its first version of the Llama model, which it released in February. The company did not disclose training data for its latest version, Llama 2.

Persons: Eric Gaillard, Michael Chabon, Chabon, Tony, David Henry Hwang, Matthew Klam, Rachel Louise Snyder, Ayelet Waldman, Meta, Sarah Silverman, Blake Brittain, Katie Paul, David Bario, Daniel Wallis Organizations: Cannes Lions International, Creativity, REUTERS, Meta, Google, Thomson Locations: Cannes, France, San Francisco federal, Washington, New York

☆ China's Huawei opens cloud data centre in Saudi Arabia in regional push
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

"The implementation of Huawei cloud is not just about us, but is a bridge that will bring other Chinese companies to Saudi Arabia," said Steven Yi, the company's regional president. The step would contribute to the development of the country's digital economy, he said, adding that Huawei opened its regional headquarters in the Saudi capital this year. Saudi Arabia has previously said it would not sign contracts with foreign companies that did not have regional headquarters in the kingdom after this year. Huawei ranked fifth in the global cloud services market in the first quarter, with a market share of 2.4%, although it was the second-largest vendor in mainland China, according to research consultancy Canalys. In February Huawei said it would invest $400 million in the Saudi Arabia cloud region over the next five years.

Persons: Eric Gaillard, Steven Yi, David Kirton, Mo Yelin, Clarence Fernandez Organizations: Huawei, Artificial Intelligence Cannes, REUTERS, Rights, Huawei Technologies, Thomson Locations: Cannes, France, Rights SHENZHEN, China, Saudi, Riyadh, East, North Africa, Huawei's, Saudi Arabia, Shenzhen, Mo, Beijing

☆ Stubborn euro zone inflation fails to settle ECB rate debate
▼ + stars: | 2023-08-31 | by ( Balazs Koranyi | ) www.reuters.com time to read: +4 min

The ECB has raised rates at its fastest pace on record in the past year, taking them to a more than two-decade high. "We still do not expect the Governing Council to raise key rates further at its September meeting." "The latest inflation figures raise the probability of a new increase in interest rates in September," Diego Iscaro at S&P Global Market Intelligence said. "However, this is far from a done deal, and a rapidly deteriorating economic background will still give doves in the ECB's Governing Council plenty of ammunition to argue for a pause." "This decline could counteract our efforts to bring inflation back to target in a timely manner."

Persons: Eric Gaillard, Robert Holzmann, Holzmann, Christoph Weil, Diego Iscaro, Isabel Schnabel, Schnabel, Balazs Koranyi, Catherine Evans Organizations: REUTERS, Rights, Central Bank, ECB, Reuters Global Markets, P Global Market Intelligence, Thomson Locations: Nice, France, Austria's, ECB's, Frankfurt

☆ French August inflation higher than expected, fuelled by energy
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Eric Gaillard/File Photo Acquire Licensing RightsPARIS, Aug 31 (Reuters) - French inflation accelerated more than expected in August as a new fall in food inflation was more than offset by higher energy prices, preliminary EU-harmonised official data showed on Thursday. French consumer prices reached a 12-month inflation rate of 5.7%, up from 5.1% in July, the INSEE stats agency said. A Reuters poll of 18 economists had an average forecast for the 12-month inflation rate of 5.4% with estimates ranging from 4.7% to 5.8%. "This rise in inflation is due to a rebound in energy prices. Food prices were up 11.1% in August, versus +12.7% in July while energy prices, which fell by 3.7% last month, rose 6.8%.

Persons: Eric Gaillard, Bruno Le Maire, Benoit Van Overstraeten, Jean, Michel Belot, Silvia Aloisi Organizations: REUTERS, Rights, French Finance, Thomson Locations: Nice, France

☆ Explainer: Why is France struggling to lower supermarket prices?
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

But food prices have continued to climb in France and many other countries even after energy and agricultural commodity costs fell sharply this year. In July, food prices in France were 12.7% higher than a year earlier, compared with a 13.7% increase in June. Retailers say part of the reason why France is struggling to cut prices more aggressively lies with the way retail prices are set in the country. HOW DO FRANCE'S RETAILERS SET PRICES? HOW ARE FOOD PRICES LINKED TO RAW MATERIALS?

Persons: Eric Gaillard, Bruno Le Maire, Le Maire, Les Mousquetaires, Emmanuel Macron's, Olivier Bompard, Henkel, Sybille De La Hamaide, Silvia Aloisi, Mark Potter Organizations: Carrefour, REUTERS, Rights, Finance, Retailers, Procter, Gamble, Unilever, Thomson Locations: Nice, France, Ukraine

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