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"We do believe that we're past the peak inflation," CEO Ken Murphy told reporters. Prime Minister Rishi Sunak's key economic pledge to halve inflation in 2023 has been undermined by persistent high food inflation, which was running at over 19% in April, according to the most recent official data. Murphy warned though that while some commodity prices were coming down, higher labour costs which are feeding into inflation are likely to stick. Tesco has said it expects prices to rise in 2023 but with the rate of inflation declining through the year. Reporting by James Davey and Sarah Young; editing by Kate Holton and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Ken Murphy, Rishi Sunak's, Murphy, James Davey, Sarah Young, Kate Holton, Jason Neely Organizations: Tesco, Britain's, Aldi, Thomson

The EPL was raised from its initial 25% rate to 35% in November, bringing the overall tax burden to 75%. With Friday's changes the windfall tax would fall away, reducing the tax burden to 40%, if average oil and gas prices fall to or below $71.40 a barrel for oil and 0.54 pounds ($0.6784) per therm for gas in two consecutive quarters. However, the government said independent price forecasts by the Office for Budget Responsibility suggest the price floor mechanism is unlikely to be triggered before the windfall tax’s planned end date in March 2028. UK North Sea oil and gas producers including TotalEnergies (TTEF.PA) and Harbour (HBR.L) have said the levy would result in them cutting investment in the basin. Reuters GraphicsBritain was a net exporter of oil as recently as the 2000s, but now depends on both oil and gas imports.

Persons: Sarah Young, Shadia Nasralla, William James, Kate Holton, David Goodman Organizations: Brent, OPEC, Iraq, Reuters Graphics Britain, Reuters Graphics Reuters, Thomson Locations: Ukraine, Britain

Yui Mok/Pool via REUTERSLONDON, June 5 (Reuters) - British Prime Minister Rishi Sunak said on Monday his plan to stop migrants arriving in small boats had reduced crossings by 20%, an update he hopes will ease criticism from his party and in the country over immigration policy. "In the five months since I launched the plan, crossings are now down 20% compared to last year," Sunak told a news conference in southern England. "The plan is working," he said, adding his government was not complacent and would work hard to make sure parliament passed a new law. Sunak urged parliament to pass his new Illegal Migration Bill, which will allow for the swift detention and deportation of people arriving on small boats back to their homeland or to so-called safe third countries such as Rwanda. Reporting by Sarah Young, writing by Farouq Suleiman and Elizabeth Piper; editing by Kate Holton and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Yui Mok, Sunak, Sarah Young, Farouq Suleiman, Elizabeth Piper, Kate Holton, Nick Macfie Organizations: Western Jet, REUTERS LONDON, British, Conservative Party, Labour Party, Thomson Locations: Dover, Britain, England, Albania, London, Rwanda

☆ Chipotle's founder wants to open tiny restaurants staffed by robots and three humans
▼ + stars: | 2023-05-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Robots and automation are becoming a bigger part of restaurants from Wendy's to Chili's. According to documents obtained by the Post, the startup, called Kernel, uses a model featuring three human workers directing robots along an assembly line. Spokesperson Sarah Rosenberg confirmed to the Post that Ells is at the startup's helm and elements of its plan. Ells grew Chipotle and helped popularize fast casual dining before stepping down as CEO in 2017 after various foodborne illness outbreaks at its restaurants. Ells is far from the first to propose using robots and other technologies in restaurants to automate various procedures and rely on fewer workers.

Raoul Sreenivasan, who joined Amazon in 2016 and currently oversees planning, performance and cargo for Amazon Global Air, will take over most of Rhoads' Amazon Air responsibilities, Felton said. As part of an effort to handle and deliver more of its own packages, Amazon launched an air cargo business. Rhoads joined Amazon Air in its early days and has overseen much of the unit's growth, including the opening of a $1.5 billion air hub in Kentucky. Air cargo rates have plunged from record highs hit during late 2021, when port snarls and a dearth of international flights pinched capacity and drove up prices. Correction: Sarah Rhoads joined Amazon in 2011.

Persons: Mark Makela Sarah Rhoads, John Felton, Amazon's, Rhoads, Felton, Raoul Sreenivasan, Sreenivasan, Andy Jassy, Becky Gansert, Heather MacDougall, Pam Greer, Sarah Rhoads Organizations: Lehigh Valley International, Amazon, CNBC, Amazon Global Air, Amazon Global, DHL, TNT Express, FedEx, U.S . Navy, UPS, Amazon Air, Atlas, Boeing, Hawaiian Airlines, Airbus, Air, U.S, Bloomberg ., Amazon Logistics Locations: Allentown , Pennsylvania, U.S, Kentucky

The job cuts are the biggest in the history of Vodafone, which employs 90,000 people directly across Europe and Africa. Della Valle was given a mandate to turn Vodafone around when she permanently took on the top job from the role of CFO last month. Della Valle started cutting jobs when she took the helm at the start of the year, targeting Vodafone's central operations in London. Della Valle said the European telecoms market had long delivered a poor return on the capital invested in networks, but Vodafone's relative performance had worsened over time. "It will take as long as it takes to get a good deal," Della Valle told reporters.

INVESTMENT HELPSThe company based in Hove on Britain's south coast was one of 61 firms - most with 25 or fewer employees - to take part in the world's biggest four-day week trial last year. The experience of some companies in the first trial suggests that moving to a four-day week might help, if it prompts firms to spend more on equipment and training. It piloted a four-day week for its 80 New Zealand staff over 18 months, and has since extended it to 500 workers in Australia, a move it hopes will attract new talent. British recruitment agency Reed.co.uk said it had seen a rise in the number of job advertisements offering a four-day week since the start of the year. Allcap, a supplier of industrial components with 36 employees in western England, tried a four-day week after its staff had worked flat out during the pandemic to supply protective equipment and ventilator parts.

[1/4] People wait to watch Britain's King Charles' procession to his coronation ceremony from Buckingham Palace to Westminster Abbey, at The Mall in London, Britain May 6, 2023. REUTERS/Stephanie LecocqLONDON, May 6 (Reuters) - Tens of thousands of people of all ages, from Britain and across the globe, braved the rain for a glimpse of the newly crowned King Charles in the streets of London and on Buckingham Palace's famous balcony on Saturday. "It was amazing to see them all there in real life, just like you’d see on a postcard." Charles, 74, ascended to the throne in September after the death of his mother Queen Elizabeth. But polls show the public generally approves of Charles as king and a majority still support the monarchy, even if younger people are far less interested.

☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

☆ Shift to Electric Cars Gives Design Centers a New Look, Too
▼ + stars: | 2023-04-25 | by ( Patrick Sisson | Sarah Rice | ) www.nytimes.com time to read: +1 min

The electric vehicle revolution isn’t on its way. “Every couple of weeks, there’s a new multibillion-dollar facility being constructed. That’s not something we see every day.”In an effort to make electric vehicles more affordable, last year’s Inflation Reduction Act included tax credits that give American automakers like General Motors and Tesla an advantage over foreign competitors. A total of $135 billion in government funds will be directed to vehicle electrification and new factories. As they accelerate their shift to electric vehicles, automakers will also need new facilities like design and development sites.

☆ Why America's childcare system is crumbling and its workers are begging for help
▼ + stars: | 2023-04-23 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +8 min

Childcare workers earn less than half what the average US worker earns — and many are quitting. One Montessori school has seen people quit and had to raise tuition in order to cover staff pay. Almost all of the childcare workers in this story asked to be referred to by first name only, out of fear of professional repercussions. And childcare workers specifically in child daycare services make an average of $12.40 an hour. Sinead, a 24-year-old childcare worker in West Virginia, makes even less than the national average for childcare workers, with pay of $9.50 an hour.

☆ If you're a new hire, you're more likely to be laid off—a Harvard expert's No. 1 way to rebound
▼ + stars: | 2023-04-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Amid the slew of recent layoff headlines, a question lingers: when a company cuts jobs, who is first on the chopping block? According to new data from BambooHR, a human resources software company, 65% of HR professionals typically approach layoffs by eliminating newly hired workers first. The report surveyed over 1,500 employees and human resource professionals from December 19 to January 4. Overall, it found that employees believe that in a wave of job cuts, the likelihood of getting laid off is 62% for recent hires and 20% for longstanding employees. She says laid-off new hires need to be smart about how they get back into the job hunt.

☆ Healthcare, college education, and childcare started getting worse decades ago. Now we're all finally feeling it.
▼ + stars: | 2023-04-08 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +16 min

Americans are accruing billions in debt to pay for things like education and healthcare. But that would require shifting the idea of childcare, education, and healthcare and thinking of them as public goods — not businesses. That ultimately meant millions in funding for public childcare. "If the US health system was a country, it would be about the fourth-largest country in the world," Cooper said. There's much less government involvement in the US healthcare system than in other countries, Cooper said.

☆ This coaching business wants to bring the 4-day workweek to Fortune 100 companies
▼ + stars: | 2023-03-29 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Another company is piloting a four-day workweek, and it could make a shortened week the norm within Corporate America. Exos is a coaching company that trains pro athletes and runs corporate wellness programs at 25% of the Fortune 100, including Intel, Capital One and Humana. One clear rule: You can't message other people or try to set up meetings for Fridays, Robb O'Hagan says. Exos, a coaching company that trains pro athletes and runs corporate wellness programs, will pilot a 4-day workweek in May. "At the end of the six months, we're committed to continuing with the four-day workweek unless there's such extreme negative results that we'd choose otherwise."

☆ U.S. banking system still seeing elevated stress levels, says former Treasury official Sarah Bloom
▼ + stars: | 2023-03-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. banking system still seeing elevated stress levels, says former Treasury official Sarah BloomSarah Raskin, former deputy U.S. Treasury Secretary and CNBC contributor, joins CNBC's "Squawk Box" to discuss the stress on the U.S. banking system, and how the Fed may respond.

☆ How universities became giant piggy banks for hedge-fund billionaires
▼ + stars: | 2023-03-08 | by ( Catherine Liu | ) www.businessinsider.com time to read: +14 min

The move also marked the beginning of a new way to manage endowment funds. The arrangement has been a boon for the hedge-fund managers who received university endowment cash, but the benefits for the schools are trickier to parse. As Eaton put it in his book, universities directed funds to "wherever those allocations would generate the largest further investment returns." Eaton estimated in 2017 that tax breaks for university endowments cost federal coffers up to $19 billion a year. As the influence of billionaires and hedge-fund managers has grown, universities have moved further away from their ultimate goal: educating people.

☆ Sustainable Packaging Is Sometimes Doubling as Easier-to-Open Packaging
▼ + stars: | 2023-02-03 | by ( Katie Deighton | ) www.wsj.com time to read: +7 min

Sarah Ryan Hudson found the Barbie’s Dr. Jane Goodall packaging to be a welcome departure from the hard-to-open versions of her youth. The costs involved in overhauling packaging systems also made them reluctant to change for the benefit of a less-finicky opening experience. To be sure, shifts toward more sustainable materials haven’t made packaging easier to use across the board, and campaigners for widely accessible packaging say companies aren’t moving to provide it quickly enough. The company’s Gillette razor brand in 2021 began selling some razors in cardboard packaging with a pulp tray, rather than in plastic blister packs and trays. Colgate-Palmolive Co. in 2019 introduced a recyclable Colgate toothpaste tube, using a high-density polyethylene material without aluminum, said Greg Corra, Colgate-Palmolive’s worldwide director of global packaging and sustainability.

☆ Too many companies botch mass layoffs
▼ + stars: | 2023-01-25 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

When it comes to mass layoffs, there seems to be no end to the worst, most bungled ways in which some employees first learn they are being let go. “People have to feel they’re being treated with respect,” said Sarah Rodehorst, CEO of Onwards HR, an offboarding technology platform for human resources, legal and finance teams. (Google declined to comment, pointing instead to a blog post from the CEO on the day of the layoffs.) Employees should receive a communication from the CEO or from division leadership that informs them layoffs will occur and offers them the business reasons for the decision. By “small,” Lee means no more than 5 to 10 people, including a leader or manager they know who delivers the news.

NEW DELHI/BENGALURU, Jan 23 (Reuters) - Amazon.com Inc (AMZN.O) on Monday launched a dedicated air cargo service in India, Amazon Air, as it looks to expand and speed-up deliveries across one of its key markets amid fast-growing e-commerce sales, an executive said on Monday. The move to use a dedicated cargo service will give Amazon tighter control over costs and flight schedules while reducing delivery times across a wider range of products, said Rhoads. "We want to deliver the majority of shipments in two days or less and Amazon Air enables that." India is the third market, after the United States and Europe, where the company has launched Amazon Air. Amazon, which uses its own ground delivery services for shipping, also partners with Deutsche Post DHL Group (DPWGn.DE) controlled Blue Dart Express Ltd (BLDT.NS), one of India's biggest air cargo carriers.

☆ Amazon expands air cargo service to India even as company cuts costs
▼ + stars: | 2023-01-23 | by ( Annie Palmer | ) www.cnbc.com time to read: +2 min

To match Insight AMAZON.COM-SHIPPING/ REUTERS/Mark MakelaAmazon on Monday announced it's bringing its air cargo operations to India, marking fresh growth for the company's logistics arm even as it looks to cut costs in other divisions. Amazon Air will enable the company to offer faster deliveries to customers in India, said Sarah Rhoads, vice president of Amazon Global Air, in a statement. The launch of Amazon Air in India comes as Amazon CEO Andy Jassy is undergoing a broad review of the company's expenses as it stares down a worsening economic outlook and slowing retail sales. Amazon Air, which debuted in 2016, outsources operations to several airlines. Amazon has for years been working to grow its presence in India, which is poised to become one of the fastest-growing e-commerce markets in the world.

Monterey Park Police officers at the scene of a mass shooting on Jan. 22, 2023 in Monterey Park where 10 people were killed at a dance hall. (Photo by Sarah Reingewirtz/MediaNews Group/Pasadena Star-News via Getty Images)The gunman behind the deadly dance hall shooting in the Los Angeles suburb of Monterey Park may have been targeting his ex-wife on the Lunar New Year, the California city's mayor said Monday. A vigil will be held Tuesday in Monterey Park in memory of the dead. And about a dozen hours after the bloodshed in Monterey Park, police tracked Tran's white van to a car park 30 miles away in the suburb of Torrance where the suspect killed himself. "I tried to reach her, but I didn't get any response," Monterey Park resident Vivian King said of a friend she last heard from earlier in the weekend.

☆ Two popes in the Vatican - sometimes more crowd than company
▼ + stars: | 2022-12-31 | by ( Philip Pullella | ) www.reuters.com time to read: +7 min

Pope Francis later removed him from a top job in the Vatican. "In the Catholic Church, symbols are important," said Father Tom Reese, a Washington-based Catholic author and commentator for Religion News Service. Reese, a Church liberal, found agreement from an unusual source - conservative Australian Cardinal George Pell, a former Vatican treasurer and close associate of Benedict in his retirement. Reese and others have suggested that a former pontiff be called "bishop emeritus of Rome" and be subject to the rules that cover retired bishops. He has said he would want to be called Bishop Emeritus of Rome and live not in the Vatican but in a home for retired priests in the Italian capital "because its my diocese".

This year brought a fascinating and eclectic number of books by Latino authors to store shelves and online selections, spanning different genres and earning high praise from readers and reviewers alike. Below is our list of 10 very distinctive works by U.S. Latino authors. The compelling novel has been recognized as one of the top 10 books of 2022 by The New York Times and The Washington Post and as one of the best books of 2022 by Time, NPR, Vogue, Oprah Daily and others. Although Villanueva's life took a different turn, many of his followers and their children, known as "Inca Jews," are still in Israel. She writes about how an abortion saved her life and candidly details her experiences dealing with suicidal thoughts and depression.

The Mark Cuban Cost Plus Drug Company negotiates directly with drugmakers. So far, that's been the strategy for the Mark Cuban Cost Plus Drug Company. In October, Cost Plus Drug Company announced a partnership with Capital Blue Cross. Cuban said he wanted Cost Plus Drug Company to be as transparent as possible on pricing. Cost Plus Drug Company is considering a test program for insulin that would offer a 90-day supply of insulin, or a total of 12 vials, for $170.

The deal, which includes significant raises for the employees, ends the grad students' five-week strike. Sarah Reingewirtz / Los Angeles Daily News via Getty ImagesOn Friday evening, United Auto Workers, the union representing the striking student workers, hailed the tentative agreement and praised Sacramento Mayor Darrell Steinberg for helping accelerate negotiations. The University of California said it would make health care accessible to the dependents of student employees and enhance paid family leave benefits. System president Michael V. Drake was pleased with Friday's outcome and recognized the workers' role in the system's lauded education and research. "Our Academic Student Employees and Graduate Student Researchers are central to our academic enterprise and make incredible contributions to the University’s mission of research and education," he said in a statement.

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