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And perhaps best of all, money — from selling the electricity generated by the wind turbines studding the flat green fields stretching out to the North Sea. A slice of the cash goes to the villagers themselves, with the local buy-in making this windy farming enclave near the border with Denmark a showcase for ways to push ahead with renewable energy projects. The S&P Global Clean Energy Index of shares in companies with clean energy-related businesses has fallen 26% over the past year, even as broader market indexes have surged to records. In sub-Saharan Africa, where half the population lacks access to electricity, renewable projects face even steeper challenges with financing. In Nigeria, where blackouts are an everyday event for about half of the country’s 213 million people, some 14 solar projects have stalled because the finances don’t add up.

Persons: ”, Astrid Nissen, moos, “, Mackenzie, it's, Nissen, Christian Andresen, Andresen, Orsted, Vattenfall, David Shepheard, Edu Okeke, Taiwo Organizations: U.S . Federal Reserve, European Central Bank, University College London, Solar, Energie Andresen GmbH, Energy, logjams, World Bank Locations: SPRAKEBUELL, Germany, Denmark, village's, Spain, Italy, Africa, Flensburg, Sprakebuell's, German, Danish, New Jersey, Swedish, North American, Saharan Africa, Nigeria, Katsina, Abuja

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was “only mildly impacted by the transit challenges in the Red Sea."

Persons: What’s, Ryan Petersen, Petersen, It’s, Clifton Broumand, Broumand, —, ”, “, it’s, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, it's, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti, ____ Anderson, Kelvin Chan, Anne D'Innocenzio, Yuri Kageyama, Tom Krisher, David McHugh Organizations: WASHINGTON, —, Hamas, Machine, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer, Free People, AP Business Locations: Belgium, Germany, British, Maryland, Asia, Ukraine, Yemen, Gaza, Europe, United States, Suez, Africa, “, Panama, Greater Landover , Maryland, Taiwan, China, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India, New York, London, Tokyo, Detroit, Frankfurt

☆ Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +8 min

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was "impacting everyone and something we're very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was "only mildly impacted by the transit challenges in the Red Sea."

Persons: It's, Petersen, Ryan Petersen, Clifton Broumand, Broumand, it's, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti Organizations: Galaxy, Houthis Media, Getty, Machine, Hamas, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer Urban Outfitters, Free People Locations: Iran, Yemen, Anadolu, Greater Landover , Maryland, Taiwan, China, Gaza, Panama, Asia, Europe, United States, Suez, Africa, Ukraine, Belgium, Germany, British, Maryland, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India

☆ A helicopter trip to a Coldplay concert lands a world leader in trouble
▼ + stars: | 2024-01-23 | by ( Larissa Gao | ) www.cnbc.com time to read: +4 min

PERTH, AUSTRALIA - NOVEMBER 18: Chris Martin of Coldplay performs on stage at Optus Stadium on November 18, 2023 in Perth, Australia. Villavecer said he left home seven hours before the concert in a carpool with other fans in order to avoid anticipated traffic jams. The leader of the Philippines has landed himself in trouble after using a presidential helicopter to bypass heavy traffic and make it to a Coldplay concert. MANILA, PHILIPPINES - JANUARY 10: Philippine President Ferdinand Marcos Jr. at Malacanang Palace on January 10, 2024 in Manila, Philippines. "We've seen some traffic, but I think you have the number one in the world," he said.

Persons: Chris Martin, Coldplay, Paul Kane, Villavecer, Nick Villavecer, Marcos, Ferdinand Marcos Jr, Ezra Acayan, Major General Nelson Morales, Morales, Renato Reyes Jr, Reyes, We've, Martin, concertgoers, it's, Mikaela Lopez Organizations: Optus, NBC, Philippine, Coldplay, Presidential Security Command, Manila, Philippine Department of Transportation Locations: PERTH, AUSTRALIA, Perth, Australia, Manila, Philippines, MANILA, PHILIPPINES, Malacanang, New York City, U.S

☆ VW struggling with S.Africa costs as group targets savings - executive
▼ + stars: | 2023-11-24 | by ( Joe Bavier | ) www.reuters.com time to read: +3 min

[1/2] Thomas Schaefer, Volkswagen's CEO of the VW Passenger Cars Brand speaks with Reuters about the future of VW production in Africa, in Johannesburg, South Africa, November 24, 2023. The German automaker has been in South Africa for nearly 80 years. Factors like competitive labour costs once placed it among the company's higher-ranking bases globally, VW brand chief Thomas Schaefer said during a visit to the country. Schaefer said there were no current plans to introduce EV manufacturing in South Africa, since electric cars are currently priced out of the reach of most domestic consumers. "There's a realistic chance that South Africa, with enough focus, with all the raw materials in the neighbourhood, they could be a champion," Schaefer said.

Persons: Thomas Schaefer, Volkswagen's, Sumaya Hisham, Schaefer, We're, " Schaefer, Victoria Waldersee, Mark Potter Organizations: VW, Reuters, REUTERS, Volkswagen, Polo, European Union, Thomson Locations: Africa, Johannesburg, South Africa, JOHANNESBURG, Uitenhage, Britain, Berlin

Containers of the Hapag-Lloyd shipping company are pictured at the Valparaiso port, Chile November 24, 2022. Chief Executive Rolf Habben Jansen said there were signs of recovery in spot freight rates and loadings. Shares in Hapag-Lloyd, the world's fifth-largest shipping line, were 2.9% down at 187.5 euros in early trade. Its first half revenues were 41% lower at 10.0 billion euros. EBITDA is expected to be between 4 billion and 6 billion euros.

Persons: Rodrigo Garrido, EBIT, Lloyd, Rolf Habben Jansen, Vera Eckert, Friederike Heine, Kim Coghill, Barbara Lewis Organizations: Lloyd, REUTERS, Companies, Maersk, CMA CGM, Reuters, Thomson Locations: Valparaiso, Chile, FRANKFURT, Hapag, North America, Ukraine

☆ Six Ways to Avoid the Tourist Logjams in Venice
▼ + stars: | 2023-08-02 | by ( Anna Momigliano | ) www.nytimes.com time to read: +2 min

Venice is so congested that it has become the embodiment of overtourism. Yet visiting Venice doesn’t always require taking what Italians call “un bagno di folla” — a bath in the crowd. The city offers plenty of fascinating attractions spared from the congestion, in fact, some of them could use more visitors. Here are some ways travelers can minimize the inconveniences even while visiting the most popular sites. “It’s not crowded, and there’s so much to enjoy,” said Cinzia Trevisan, co-founder of Venice Guides for Sustainable Tourism.

Persons: Mark’s, Venice doesn’t, ”, Cinzia Trevisan, Trevisan, della, Peggy Guggenheim, Titian, Tintoretto, Canaletto Organizations: Venice, Italians, Venice Guides, Sustainable Tourism, Santa, Campo Margherita Locations: Venice, Marco, San Polo, Dorsoduro, Campo

☆ Unilever pivots to African suppliers as forex pressure mounts
▼ + stars: | 2023-05-31 | by ( Seun Sanni | Richa Naidu | ) www.reuters.com time to read: +6 min

The war in Ukraine exacerbated supply chain logjams and manufacturing issues that began with the COVID-19 pandemic. Managing foreign exchange costs is largely what is driving a pivot to African suppliers, Unilever said, even though sourcing from the continent can cost more than buying from parts of Asia. “Over 95% of the brands we sell to our (African) consumers are made in African factories,” Reginaldo Ecclissato, Unilever’s chief business operations and supply chain officer, told Reuters. Today more than two-thirds of the ingredients that go into Unilever products sold in African markets come from the continent, the company said. Where is it on the scale of Unilever’s supply chain?” he said.

Persons: Kasali, ” Kasali, “, Knorr, Hellmann’s, Reginaldo, Tedd George, Nestle, ”, Pierre, André, Ecclissato, it’s, bouillon, Iranloye, Busari, Unilever’s Ecclissato Organizations: Reuters, Unilever, REUTERS, ” Unilever, Nestle, Danone, sorbitol Locations: ALAYIDE, Nigeria, Oyo, Africa, Ukraine, Asia, India, China, South Africa, Lagos, Oyo State

☆ Former Fed Chair Ben Bernanke says there's more work ahead to control inflation
▼ + stars: | 2023-05-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Saul Loeb | AFP | Getty ImagesWASHINGTON — Former Federal Reserve Chair Ben Bernanke, who guided the central bank and the U.S. economy through the Great Recession, thinks central bankers still have work to do to bring down inflation. Since leaving the Fed in 2014, Bernanke has been a distinguished senior fellow at the Brookings Institution. watch nowTheir paper notes that inflation has evolved since ballooning to a 40-year high in the summer of 2022. In a forum Tuesday presented by the Brookings Institution, Bernanke, Blanchard and other high-profile economists and academics discussed the root causes and what policymakers should do as they review policies for the future. The Fed only began raising interest rates in March 2022, a full year after its preferred inflation gauge eclipsed the target.

Persons: Ben Bernanke, Saul Loeb, Olivier Blanchard, Bernanke, Blanchard, Jason Furman, I'm, … Organizations: Federal Reserve, Thomas Laubach Research, Federal Reserve Board, AFP, Getty Images WASHINGTON, Former Federal, Fed, Brookings Institution, Peterson Institute for International Economics, of Economic Advisers, Harvard Locations: Washington , DC, U.S

☆ The G7 is accusing China of 'economic coercion.' Here's why.
▼ + stars: | 2023-05-20 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

The US has accused China of "economic coercion" and plans to take steps to counteract Beijing. What is "economic coercion" – and what can the West actually do about it? So what exactly is "economic coercion" – and what can the G7 do about it? According to Sullivan, this will involve measures that could enhance economic security for G7 nations. The West needs to work with Beijing on a range of issues that likely go beyond the countries' desire for economic security.

☆ Opinion | The Impasse Over Raising the Debt Limit
▼ + stars: | 2023-05-10 | by ( ) www.nytimes.com time to read: +1 min

And increasing the national debt is then inexorably part of the budgeting process. So these legislators are well aware of the increase in debt they are supporting. That makes the whole notion of a “debt limit” ludicrous on its face. If they don’t want the debt to increase past a certain point, then raise taxes, reduce spending, or both. I doubt that many parents would respond to such a threat by “negotiating.”Fred KamenyChapel Hill, N.C.To the Editor:Re “Why I Changed My Mind on the Debt Limit,” by Laurence H. Tribe (Opinion guest essay, May 8):There is one more argument for overriding the debt ceiling: It will make the congressional budget-making process more honest.

☆ Italy is convening a crisis meeting this week to address soaring pasta prices, reports say
▼ + stars: | 2023-05-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Italy's industry minister has called a crisis meeting to address the soaring price of pasta, Reuters reported. Pasta prices jumped 16.3% in April, while broader Italian inflation came in at 8.8%. The comparable increase in Italy's harmonized index of consumer prices, a weighted average of Italian goods and services, measured a provisional 8.8% in April. But Coldiretti, an Italian agriculture group, said soaring pasta prices represented an "anomaly that needs clarification," given the price of a key ingredient, durum wheat, fell 30% in the year, per local publication Ansa. The National Consumer Union said until speculation on wheat prices was defined as an "unfair practice," the price of pasta may stay elevated, per Ansa.

"Because of higher prices, people are buying smaller amounts of groceries overall and may have become more careful not to waste food." "Despite all of that, (there are) 8% to 12% missing items on shelves," he said. "This has created a major, major issue around out-of-stock" in most of the 16 Middle Eastern countries where the company operates, he said. Laurent Thoumine, Accenture's Europe lead for retail, said supermarkets in Britain, France, Germany, Italy and Spain have had the worst stock issues. Products that are scarce in some stores include ketchup, pasta, chocolate, tea, potato chips, toothpaste and pet food, according to Nielsen IQ's Data Impact.

☆ 5 reasons fighting Disney is a political winner for DeSantis — and 6 reasons it could hurt his shot at the presidency
▼ + stars: | 2023-04-28 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +13 min

It does a ton of business in China, which many GOP voters view as a threat to the US. DeSantis already ran on being anti-Disney — and wonTaryn Fenske, DeSantis' communications director, has described the Disney fight as being "the will of Florida voters." And they might not vote for DeSantis if they think the Disney fight is a killer in a general election. Families often work hard and save for years to take their children to Disney World. If DeSantis can't bring a resolution to the Disney fight, can he handle the job of president?

☆ CFOs Focus on Building Resilient Supply Chains, Even as Pandemic Disruptions Fade
▼ + stars: | 2023-04-26 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +1 min

An uncertain economic environment means third parties in Conagra’s supply chain sometimes require extra assistance. Photo: Justen Williams for The Wall Street JournalAs if finance chiefs didn’t have enough on their plates before the pandemic, surging shipping costs, freight logjams and factory disruptions in China over the past few years have laid bare their need to adapt and step up their involvement in boosting supply-chain resilience. “Supply chain is obviously always an important part for us,” said Conagra Brands Inc. Chief Financial Officer Dave Marberger . At roughly $9 billion, it is the single biggest line item when looking at the cost of goods sold for the Chicago-based food manufacturer, which makes Hunt’s ketchup, Healthy Choice frozen meals and Slim Jim meat sticks. “But obviously with Covid and the significant impact it’s had on supply chain, it’s been even more of a priority for me.”

☆ Analysis: No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

LONDON, April 13 (Reuters) - The latest bid by the world's leading institutions and creditors to speed up debt restructurings and get bankrupt countries back on their feet has been greeted by a mix of cautious optimism and weary scepticism by veteran crisis watchers. The somewhat loose framework around sovereign restructurings has seen Beijing seek to influence the traditional rules of engagement in these processes. The Common Framework platform introduced by leading G20 nations in 2020 aimed to bring all creditors, including China, together and streamline negotiations. Anna Ashton, director of China research at Eurasia Group, said this week’s developments underscored the benefits for China to give some ground on some of its concerns. "China is a difficult partner to talk to but we need China at the table for the solution of debt problems, because otherwise we won't see any progress," Lindner said.

☆ No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up
▼ + stars: | 2023-04-13 | by ( Libgeorge Marc Jones | Marc Jones | ) www.reuters.com time to read: +6 min

☆ Nestle plans price hikes after inflation eats into profits
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: +2 min

He declined to comment on the planned level of price increases, which he said were necessary to offset the damage caused by commodity price rises. That is after all the pricing we have done in 2022," Schneider told reporters. Europe was the company's main drag on margins last year, with Nestle taking a roughly 190 basis point margin hit. Schneider told CNBC: "It had a lot to do with inflation hitting North America earlier, in 2021, and for different reasons. Europe saw a spike in inflation, in energy costs, especially after the invasion of Ukraine.

☆ Home builder sentiment sees biggest monthly jump since 2013
▼ + stars: | 2023-02-15 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Home builder confidence jumped this month by the largest amount in almost 10 years, as falling mortgage rates pulled in more buyers. All three metrics rose in February for the second straight month, showing the strongest reading since September and the largest monthly increase for builder sentiment since June 2013. “Even as the Federal Reserve continues to tighten monetary policy conditions, forecasts indicate that the housing market has passed peak mortgage rates for this cycle,” he said. But mortgage rates that are lower now than they were last fall are improving affordability for buyers. The average mortgage rate for a 30-year, fixed-rate mortgage rate peaked last year at 7.08% in November, according to Freddie Mac.

LONDON, Feb 13 (Reuters) - This Valentine's Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants. Last year, British restaurant chain PizzaExpress offered a three-course set menu complete with "a prosecco and raspberry mimosa, heart-shaped dough balls and a main, such as our Padana, with creamy goat’s cheese and sweet caramelised onion". This year, PizzaExpress is advertising a slightly less impressive "love bundle" of a starter and a "classic" pizza for 15 pounds. Reuters GraphicsThe nation's supermarkets are seeking to cash in, keepingprices for their Valentine's Day meal-deals stable in the hope of luring customers from restaurants. Tesco (TSCO.L), whose CEO recently noted that consumers are shifting away from eating out, has reduced the price of its Valentine's Day dinner-for-two to 12 pounds - down from 15 pounds last year - for a main, side dish, dessert and drink.

The U.S. food index, including meals eaten at home and in cafes and restaurants, increased 10.4% for the year ended in December. RETAILER PUSHBACKConsumer goods manufacturers - will continue to raise prices until they recover their profitability, said Bernstein analyst Bruno Monteyne. In December, the CEO of Walmart (WMT.N), the world's biggest retailer, warned that some "packaged goods suppliers are still pointing us towards more inflation next year on top of the mid-double digits this year". Tesco CEO Ken Murphy said last month he was hopeful inflation would peak by mid-2023 and then start to ebb. Barclays analyst Warren Ackerman said although food commodity prices on average were down 20% from March peaks, it will take time for this to reflect in companies' costs.

☆ Medical device makers drop products as EU law sows chaos
▼ + stars: | 2022-12-19 | by ( Maggie Fick | ) www.reuters.com time to read: +9 min

LONDON, Dec 19 (Reuters) - Nicola Osypka's German company has been selling medical devices used in surgery on newborn babies in Europe for decades, but new European Union rules have forced her to make tough decisions. While some companies say the products they have cut have no impact on patients or profits, others say some of withdrawn devices are essential, and doctors agree. Under the EU's Medical Devices Regulation (MDR), which came into effect in May 2021, all medical devices, from implants and prosthetics to blood glucose meters and catheters, must meet stricter safety criteria, sometimes with new clinical trials. Under the old system, it took about 15,000 euros and a few months to get a similar device approved, he said. Tom Melvin, an associate professor of medical device regulatory affairs at Trinity College Dublin, said there were nearly 100 such agencies a decade ago under the old system.

☆ Ukrainian forces brace for bloody fight for Kherson
▼ + stars: | 2022-11-04 | by ( Jonathan Landay | ) www.reuters.com time to read: +6 min

Kirill Stremousov, deputy head of the Russian-installed administration in Kherson region, said on Thursday that he hoped Russian forces would put up a fight. With control of the Dnipro's west bank, military experts said, Ukrainian forces would have a springboard from which to seize a bridgehead on the east side for an advance on Crimea. A U.S. official, speaking on condition of anonymity, said it appeared the Russians already had begun "an organized, phased withdrawal" from the Dnipro's west bank. But Ukrainian troops could also face serious obstacles that could stall their takeover of Kherson, including booby traps and concentrated Russian artillery and rocket fire from the east bank, Hodges said. The unit, with six armoured personnel carriers, took its positions in September after Ukrainian forces drove Russian troops back to Kherson's border with Mykolaiv province.

FILE PHOTO - Maersk CEO Soren Skou answers questions from the press after publishing the company's quarterly accounts, in Copenhagen, Denmark, November 2, 2021. Moller-Maersk's (MAERSKb.CO) chief executive said on Thursday he expects a "modest" pick-up in trade for the upcoming holidays this year amid concerns about the slowing global economy and consumer demand. "Volumes headed into the Christmas season are lower than a normal year," Soren Skou said in a Reuters Newsmaker interview. Ocean freight volumes will be flat or lower this year, though there is still congestion in global supply chains, he said. Maersk has raised its 2022 profit guidance twice this year as high freight rates persisted longer than expected.

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