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The country's canned seafood industry is moving well beyond tuna sandwiches, a pandemic-era trend that began with Americans in lockdown demanding more of their cupboard staples. U.S. canned seafood industry sales have grown from $2.3 billion in 2018 to more than $2.7 billion so far this year, according to market research firm Circana. “I was eating the same canned fish that my great grandmother Rose in Brooklyn was eating in the 1930s," she said. “I thought that was just insane.”Her company, Fishwife Tinned Seafood Co., set out to offer high-quality, sustainably sourced seafood. “Our mission is really to just galvanize the canned fish industry and transform and make it what we think it can be,” Millstein said, adding that means offering much more “than tuna fish sandwiches."

Persons: Fishionado, Kris Wilson, Becca Millstein, coronavirus, “, ” Millstein, Rose, ”, Millstein, “ They’re, Simi Grewal, Manel, ” Maria Finn, John Steinbeck's, John Field, he's, ___ Watson Organizations: FRANCISCO, West Coast, Conservas, U.S . Food, Drug Administration, Greenpeace, National Marine Fisheries Service Locations: Europe, U.S, Danish, San Francisco, Houston, New York, tastings, TikTok ., Los Angeles, Spain, Portugal, Brooklyn, West, canneries, Oregon, Washington, Chengdu, Pacific, Bay, Patagonia, California, Monterey, San Diego

REUTERS/Nick Oxford/File Photo Acquire Licensing RightsSummary IEA trims 2024 oil demand forecast to 880,000 bpdOPEC sticks to 2024 forecast of 2.25 million bpdIEA cites signs of demand destruction from higher pricesLONDON, Oct 12 (Reuters) - The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth. By contrast, in its latest report OPEC stuck to its forecast that demand will rise by 2.25 million bpd in 2024. The difference between the two forecasts - 1.37 million bpd - is equivalent to more than 1% of daily world oil use. Oil demand growth is an indication of likely oil market strength, and can affect prices and fuel costs for consumers and businesses. "In 2024, solid global economic growth, amid continued improvements in China, is expected to further boost oil consumption," OPEC said in a monthly report.

Persons: Nick Oxford, Natalie Grover, Alex Lawler, Jason Neely, Susan Fenton, Jan Harvey Organizations: Midland , Texas U.S, REUTERS, International Energy Agency, of the Petroleum, IEA, OPEC, Economic Co, Development, Thomson Locations: Midland , Texas, China, OPEC, Israel, Palestinian, Nigeria, Pakistan, Egypt, United States, London

☆ Mid-Autumn Festival holidays: Millions of Chinese tourists are going on holiday again -- many headed for Thailand
▼ + stars: | 2023-09-29 | by ( Kathleen Magramo Kocha Olarn Berry Wang Carina Cheng | Kathleen Magramo | Kocha Olarn | ) edition.cnn.com time to read: +9 min

Only 2.2 million Chinese travelers arrived between January and September 10 this year, according to data from the Tourism Authority of Thailand. Thai Prime Minister Srettha Thavisin greeted travelers on the first day of the government's visa-free scheme for Chinese tourists. “Competition is really intensifying in the region to attract Chinese tourists amongst all countries, and you have to make it as easy as possible,” said Bowerman. Chinese tourists pray in front of Thai dancers at the Erawan Shrine in Bangkok, Thailand on September 22, 2023. Rumors, film complicate efforts to lure back touristsPrior to the announcement of the visa-free policy this month, Chinese tourists had been slow to return to Thailand.

Persons: Srettha Thavisin, It’s, ” Sretta, “, Chiang, Wang Wenbin, Peerapon Boonyakiat, pare, Gary Bowerman, ”, Bowerman, Huang, “ I’ve, coronavirus, Trip.com, Jin Junhao, Joanna Lu, Anusak, Wolfgang Georg Arlt, “ There’s, Thailand ”, Sisdivachr Cheewarattanaporn Organizations: CNN, China’s, Tourism Authority of, Thai, Civil Aviation Administration, China Railway, Asia, Tourism Research Institute, Thailand’s Ministry of Tourism, Sports, Thai Travel Agents Association Locations: China, Shanghai, Bangkok’s, Chiang Mai, Bangkok, Pattaya, Phuket, ”, Beijing, Thailand, Southeast Asia, Tourism Authority of Thailand, Asia, Sichuan, South Korea, Malaysia, Singapore, Australia, United Kingdom, Erawan, Myanmar, Cambodia, Weibo

☆ What China’s Economic Woes May Mean for the U.S.
▼ + stars: | 2023-08-26 | by ( Lydia Depillis | More About Lydia Depillis | ) www.nytimes.com time to read: +1 min

The news about China’s economy over the past few weeks has been daunting, to put it mildly. The country’s growth has fallen from its usual brisk 8 percent annual pace to more like 3 percent. And China’s citizens, frustrated by lengthy coronavirus lockdowns and losing confidence in the government, haven’t been able to consume their way out of the country’s pandemic-era malaise. If the world’s second-largest economy is stumbling so badly, what does that mean for the biggest? That could change, however, if China’s current shakiness deepens into a collapse that drags down an already slowing global economy.

Persons: haven’t, Wells Locations: United States, China, U.S

☆ Surging frozen food demand may stress critical cold storage supply chains
▼ + stars: | 2023-07-18 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +3 min

Virtually all American households purchase frozen food at least once a year, but without resilient cold storage supply chain infrastructure, the growth and safety of the massive $265 billion global frozen food market may be put at risk. In 2022, frozen food sales in the U.S. reached more than $72 billion, according to the American Frozen Food Institute. During the coronavirus lockdowns in 2020, frozen food sales reached more than $65 billion, according to the institute. Approximately 13% of all food produced globally is lost due to poor cold storage supply chains every year, according to a study from Columbia University's Climate School. Watch the video above to learn more about the influence of frozen food, the global cold storage supply chain infrastructure, what it takes to freeze food products and what's next for this growing section of the grocery store.

Persons: Brian Choi, Alison Bodor, Sonia Punwani, Tony Atti, Jeff Rivera Organizations: The Food Institute, CNBC, Food Institute, Cargill Protein North, Columbia University's Climate, Logistics Locations: U.S, Columbia, Michigan

Oil demand growth is an indication of likely oil market strength and forms part of the backdrop for policy decisions by OPEC and its allies, known as OPEC+. OPEC is expected to publish its first demand forecast for 2023 in its monthly report on July 13. Top officials from OPEC countries at a conference this week such as Amin Nasser, chief executive of state-owned oil producer Saudi Aramco, expressed optimism over the oil demand outlook despite economic headwinds weighing on prices. China alone between 2019 and 2023, 3 million bpd growth, India 1 million bpd growth, so there is a pickup in demand," he said. OPEC originally forecast demand growth in 2023 of 2.7 million bpd in its first forecast published in July 2022, later revising it down to 2.35 million bpd.

Persons: Amin Nasser, Ahmad Ghaddar, David Evans Organizations: Saudi Arabian Oil, OPEC, International Energy Agency, IEA, Saudi Aramco, Thomson Locations: VIENNA, OPEC, Saudi, Asia, China, India

☆ Explainer: Why are OPEC+ supply cuts failing to boost oil prices?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +4 min

Members Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil supply cuts on Monday in an effort to send prices higher. Here are the main reasons why OPEC+ output cuts are failing to significantly lift oil prices:CONCERNS ABOUT WEAK DEMANDData from China has sparked fears that the economic recovery from coronavirus lockdowns in the world's second-largest oil consumer is losing steam. The Energy Information Administration projects U.S. crude oil production will climb by 720,000 bpd to 12.61 million bpd this year, above a prior forecast increase of 640,000 bpd. This compares with around 10 million bpd as recently as 2018. LESS BULLISHIn 2020, Saudi Energy Minister Prince Abdulaziz bin Salman warned traders against betting heavily in the oil market, saying those who gamble on the oil price would be "ouching like hell".

Persons: Brent, Carsten Fritsch, Tamas Varga, Prince Abdulaziz bin Salman, pare, Ole Hansen, Maha El Dahan, Ahmad Ghaddar, Mark Potter Organizations: of, Petroleum, Eurasia Group, U.S . Federal Reserve, International Energy Agency, OPEC, Energy Information Administration, Saudi Energy, Saxo Bank, Thomson Locations: DUBAI, LONDON, OPEC, Russia, Saudi Arabia, China, Japan, U.S, Eurasia, WTI

☆ UK lawmakers set to back report that Boris Johnson misled them over 'partygate'
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 19 (Reuters) - British lawmakers are expected to back a report on Monday that said former Prime Minister Boris Johnson deliberately misled parliament over rule-breaking parties at the heart of government during coronavirus lockdowns. "Obviously, this is a matter for the House (of Commons), not for the government," Sunak told ITV when asked how he would vote. "This committee was established under the former prime minister ... Labour leader Keir Starmer challenged Sunak to show up for the vote, saying he has to "show leadership". "What his predecessor got up to was unacceptable," Starmer told the BBC.

Persons: Boris Johnson, coronavirus, Johnson, Rishi Sunak, Sunak, Keir Starmer, Starmer, Sachin Ravikumar, Kylie MacLellan, Ed Osmond Organizations: Conservative Party, Times, ITV, Labour, BBC, Thomson Locations: London

☆ Revenge Spending Helped Push Prices Higher. The Trend Is Turning.
▼ + stars: | 2023-06-13 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

The nation witnessed two years of red-hot “revenge spending,” the name economists and corporate executives gave to a spike in recreational spending that followed coronavirus lockdowns. As demand rose, so did prices for airfares, hotels and other sought-after services. Hotel prices have recently climbed much more slowly on a year-over-year basis, and airfares are flatlining. If that trend continues this summer, it could contribute to a slowdown in overall services inflation, something the Fed has been watching and waiting for. “We see some slowing in so-called revenge categories,” said Yelena Shulyatyeva, senior U.S. economist at BNP Paribas.

Persons: coronavirus, ”, Yelena Shulyatyeva Organizations: BNP Paribas

☆ India's milk imports soar as disease hits local cattle stock
▼ + stars: | 2023-04-04 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +6 min

"Any upside risk coming from higher milk prices is going to pose an additional challenge," said Upasna Bhardwaj, chief economist at India's Kotak Mahindra Bank. "Cattle prices have doubled as there are fewer cows in the market," said Sharma, who has been raising cattle since childhood. "We will witness further rises in milk prices during summer," Shah said. India's SMP imports are likely to hit an all-time high in the fiscal year that started April, surpassing record purchases in 2011-12, dairy industry officials said. The temporary removal of those duties would mean imports rise even further, the NDDB official said.

☆ Finnish centre-right eyes coalition talks as defeated Marin considers future
▼ + stars: | 2023-04-03 | by ( Anne Kauranen | ) www.reuters.com time to read: +3 min

[1/3] Finland's Prime Minister and Social Democrats leader Sanna Marin speaks during a news conference at the parliament on the day of the parliamentary elections, in Helsinki, Finland April 2, 2023. REUTERS/Essi LehtoHELSINKI, April 3 (Reuters) - Outgoing Finnish Prime Minister Sanna Marin was left to consider her future after she conceded defeat in a tight parliamentary election on Sunday that handed her centre-right rival Petteri Orpo the right to try and form a coalition. Despite gaining three seats, Marin's left wing Social Democratic Party (SDP) came third with 43 of parliament's 200 seats behind Orpo's centre-right National Coalition Party with 48 seats and the nationalist Finns on 46. In turn, Marin's Social Democrats rallied voters to support them in their defence of the Nordic welfare model of cradle-to-grave services from free education and affordable healthcare to decent pensions, against Orpo's spending cuts. During Marin's time as prime minister, Finland faced coronavirus lockdowns, the energy crisis and soaring consumer price inflation, and the country is expected to undergo a mild recession this year.

REUTERS/Wolfgang RattaySummarySummary Companies Volkswagen China chief toured Xinjiang plant on Feb 16-17Carmaker contractually bound to plant until 2030Company notes 'more repressive approach' in region since 2015No indication of forced labour on visit - China chiefPlant no longer assembling cars, 65% staff cutBERLIN, Feb 28 (Reuters) - Volkswagen (VOWG_p.DE) is contractually committed to its plant in Xinjiang until 2030, it said on Tuesday, after its China chief made the first visit by senior management to the plant in mid-February and said he saw no signs of forced labour. Ralf Brandstaetter, who has headed the carmaker's China operations since the middle of last year, spent 1-1/2 days on Feb. 16-17 touring the facility with Volkswagen's compliance and external relations chief in China. I can try and verify the facts [from joint venture partner SAIC], and that's what I did. China has strenuously denied any abuses in Xinjiang. Around 190 workers had also undertaken retraining and qualification programmes at other SAIC plants across China.

☆ North Korea paper calls outside aid 'poisoned candy', urges self-reliance
▼ + stars: | 2023-02-22 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

SEOUL, Feb 22 (Reuters) - North Korea's official newspaper said on Wednesday that relying on external aid to cope with food shortages would be equal to taking "poisoned candy", urging economic self-reliance despite deepening hardships amid sanctions and coronavirus lockdowns. Most U.N. agencies and Western relief groups have since left North Korea, with China remaining one of the few sources of external food assistance. "It is a mistake to try to boost the economy by accepting and eating this poisoned candy," the commentary said. "Food production dropped from last year, and there is a possibility of distribution issues due to a change in their food supply and distribution policy," a ministry official told reporters. Unification Minister Kwon Young-se has said Pyongyang had asked the U.N. food agency, the World Food Programme, to provide support but there was no progress because of differences over monitoring issues.

The hands of the Doomsday Clock are closer to midnight than ever before, with humanity facing a time of “unprecedented danger” that has increased the likelihood of a human-caused apocalypse, a group of scientists announced Tuesday. “We are living in a time of unprecedented danger, and the Doomsday Clock time reflects that reality,” Rachel Bronson, president and CEO of the Bulletin of the Atomic Scientists, said in a statement, adding that “it’s a decision our experts do not take lightly.”The Bulletin of Atomic Scientists set the Doomsday Clock at 90 seconds to midnight on Tuesday. When it was unveiled in 1947, the clock was set at 7 minutes to midnight, with “midnight” signifying human-caused apocalypse. In 2020, the Bulletin set the Doomsday Clock at 100 seconds to midnight, the first time it had moved within the two-minute mark. The Bulletin of Atomic Scientists was founded in 1945 to examine global security issues related to science and technology.

☆ Forget inflation, it’s all about earnings
▼ + stars: | 2023-01-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

They noted that over the last three quarters, S&P 500 reactions to earnings beats and misses have soared higher and have now surpassed the one-day market reaction to both CPI inflation and Fed policy meeting decisions. Shares of Disney sank 13.16% last November — their lowest level in more than two years — when they missed earnings estimates. “We see this as a narrative shift in the market from the Fed and inflation to earnings: reactions to earnings have been increasing, while reactions to inflation data and FOMC meetings have been getting smaller,” wrote Subramanian and Kwon. So we can expect some serious volatility over the next few weeks as companies report their fourth quarter corporate earnings. Bad news ahead: The estimated earnings decline for the S&P 500 in the fourth quarter of 2022 is -3.9%, according to a FactSet analysis.

☆ Tim Cook, Apple's CEO, agrees to a 40% target pay cut
▼ + stars: | 2023-01-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Apple CEO Tim Cook has agreed to cut his pay this year after shareholders rebelled. The world’s largest tech company said it would reduce Cook’s target pay package to $49 million, 40% lower than his target pay for 2022 and about half Cook’s $99.4 million total compensation that he was granted last year. But shareholders voted against Cook’s pay package after Apple’s stock fell nearly 27% last year. This year, the executive’s share award target has been cut to $40 million. Apple’s share price, like other tech companies, plunged last year as coronavirus lockdowns shuttered some of its factories in China.

☆ Grocery delivery firm Getir acquires embattled rival Gorillas as industry consolidates
▼ + stars: | 2022-12-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Turkish grocery delivery firm Getir acquired its German rival Gorillas for an undisclosed amount, the company said Friday. "The super fast grocery delivery industry will steadily grow for many years to come and Getir will lead this category it created 7 years ago." Loss-making grocery delivery services are enduring a tough market environment, in which investors are reevaluating positions in companies most exposed to the effects of tighter monetary policy and a rising cost of living. The long-rumored takeover values Gorillas at $1.2 billion and the broader Getir group at $10 billion, according to a report from the Financial Times. In 2021, the company was valued at $3.1 billion in a private financing round led by German food delivery company Delivery Hero .

The Biden administration called them “shortsighted” and said they would hurt low- and middle-income countries by pushing energy prices higher. Europe’s ban on importing oil from Russia shipped by sea kicks in on Monday, injecting extra uncertainty into the outlook for energy supply. G7 nations, the European Union and Australia agreed Friday to impose a price cap of $60 a barrel on Russian oil shipped to other countries that have not adopted an embargo. The move, which also takes effect Monday, is aimed at depriving the Kremlin of revenue while avoiding a price shock by keeping Russian oil flowing to some markets. Moscow has previously threatened to retaliate by cutting off oil supply to countries that adhere to the price cap.

☆ OPEC sticks with oil supply cuts as West tightens sanctions on Russia
▼ + stars: | 2022-12-04 | by ( Julia Horowitz | ) edition.cnn.com time to read: +2 min

☆ Europe agrees to cap the price of Russian oil at $60 a barrel
▼ + stars: | 2022-12-02 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

London CNN Business —The European Union has reached a consensus on the price at which to cap Russian oil just days before its ban on most imports comes into force. Capping the price of Russian oil between $65 and $70 a barrel, a range previously under discussion, wouldn’t have caused much pain for the Kremlin. “Today’s oil price cap agreement is a step in right direction, but this is not enough,” Estonian foreign minister Urmas Reinsalu tweeted Friday. The price cap is designed to be enforced by companies that provide shipping, insurance and other services for Russian oil. Confusion about the impact of that measure, along with lingering questions about the price cap, have unsettled traders.

☆ Inflation in Europe drops for the first time in 17 months
▼ + stars: | 2022-11-30 | by ( Julia Horowitz | ) edition.cnn.com time to read: +2 min

London CNN Business —For the first time in 17 months, inflation in Europe is easing. Consumer prices rose by 10% in the year to November, according to the first look at official data for the 19 countries that use the euro. While energy price inflation fell to roughly 35% year-over-year, compared to nearly 42% in October, prices for food, alcohol and tobacco continued to rise sharply. And core inflation, which excludes volatile food and energy prices, held firm at 5%. Double-digit inflation remains a huge problem for policymakers, who have indicated they will press ahead with efforts to get prices under control.

☆ Volkswagen sees China sales on par with 2021 as lockdown impact lingers - Handelsblatt
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 22 (Reuters) - Volkswagen (VOWG_p.DE) expects sales in China to stagnate at about 3.3 million vehicles in 2022, its China chief told Handelsblatt on Tuesday, as it struggles to make up the impact of coronavirus lockdowns and chip shortages in the first half. The carmaker had previously forecast sales of 3.85 million vehicles this year, on par with 2020, but adjusted its expectations in the middle of the year, Ralf Brandstaetter told the German daily. VW still expects to double its sales of ID electric vehicles in the country from last year's level as planned, he added. New coronavirus restrictions in recent weeks have not impacted Volkswagen's own plants, though some dealers have had to close, the China chief said. That was not possible until now because of coronavirus restrictions," he said.

☆ India's Tata to open 20 'beauty tech' outlets, in talks with foreign brands
▼ + stars: | 2022-11-16 | by ( Aditya Kalra | ) www.reuters.com time to read: +7 min

Tata is in talks with more than two dozen companies to supply exclusive products to the new stores, according to the person familiar with the strategy, who did not name specific brands. Tata declined to comment on its planned beauty stores and the contents of the document seen by Reuters. The store opening plans, still under wraps, follow the recent launch of Tata's beauty shopping app, called Tata CLiQ Palette. The stores will have a bright red facade showing Tata CLiQ Palette branding, with 70% of the products inside being skincare and make up, according to the Tata document. The new stores should drive "sales across channels as a leading Beauty Tech destination for Gen Z & Millennials," the Tata document says.

LONDON, Nov 11 (Reuters) - Russia's oil export revenues are at much greater risk from a global economic recession than the price cap being planned by the United States and the European Union. Sanctioned petroleum could only be traded freely below the price cap while unsanctioned petroleum could be traded at any price, including prices well above the cap. If the crude cap is set at $60-65 per barrel, while unsanctioned crude trades at $120, the incentives for circumvention will be enormous. Recession and price capping turn out to be complementary approaches rather than substitutes for reducing Russia’s oil revenues. RECESSION AND ALTERNATIVESIn the event of a recession, consumption of crude and diesel would be hit, reducing the call on Russia’s crude exporters and refineries.

WASHINGTON, Nov 4 (Reuters) - The headline number in the U.S. October jobs report released on Friday showed firms adding a more-than-expected 261,000 jobs and hourly wages continuing to rise, evidence of a still-tight labor market. Those labor force flows are significant in their own right. Reuters GraphicsAt the same time, the number of unemployed people who found a job fell to about 300,000 below its yearly average. The net change, in other words, was driven this time by job loss and a shortfall in job finding. On average over the past year the number of unemployed has fallen by about 117,000 per month.

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