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☆ Nobel Prize award raised to nearly $1 million for 2023
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

The Nobel laureates and King Carl XVI Gustaf, Queen Silvia, Prince Daniel, Crown Princess Victoria of Sweden attends the Nobel Prize award ceremony at the Concert Hall in Stockholm, Sweden, December 10, 2022. TT News Agency/Christine Olsson via REUTERS/File Photo Acquire Licensing RightsSTOCKHOLM, Sept 15 (Reuters) - Winners of this year's Nobel Prizes will get an extra 1 million crowns, taking the total financial reward to 11 million Swedish crowns ($986,000), the Nobel Foundation, which administers the awards, said on Friday. In 2012, prize money was reduced from 10 million crowns to 8 million as the Foundation looked to shore up its finances. The prize amount was increased to 9 million in 2017 and in 2020 to 10 million - where it was prior to 2012. The Nobel Prize in Physiology or Medicine is the first of this year's prizes and will be announced on Oct. 2 followed by Physics, Chemistry, Literature and Peace on the following days.

Persons: King Carl XVI Gustaf, Queen Silvia, Prince Daniel, Crown Princess Victoria of, Christine Olsson, givers, Simon Johnson, Essi Organizations: Concert Hall, TT News Agency, REUTERS, Rights, Nobel Foundation, Physics, Thomson Locations: Crown Princess Victoria of Sweden, Stockholm, Sweden, Rights STOCKHOLM, Swedish

☆ A village on an Italian island is providing free housing to digital nomads
▼ + stars: | 2023-09-15 | by ( Silvia Marchetti | Poonam Binayak | ) www.cnbc.com time to read: +6 min

Last week, Partis landed in the Sardinian village of Ollolai in Italy for a free stay paid by the local municipality. She's the first digital nomad to arrive — and already she said it feels like a life-changer. Source: Veronica Matta"That was a major success — many foreigners bought and restyled dozens of forsaken dwellings," said Mayor Francesco Columbu told CNBC. "Now, after investing in high-speed internet, with this new project 'Work from Ollolai' we want to make our village a digital nomad hub." Source: Veronica Matta"I just had to give my landowner a symbolic one euro for the house rental," said Partis.

Persons: Clarese, Partis, Ollolai, Antonio Meloni, Francesco Columbu, Veronica Matta, Sa, Matta, Veronica Matta Partis, —, that's Organizations: CNBC, Workers Locations: Los Angeles, Sardinian, Ollolai, Italy, Zanzibar, Sardinia, Singapore, Sardinia —, Partis

☆ Sweden's Carl XVI Gustaf celebrates 50 years as king
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Princess Madeleine, Chris O'Neill, Prince Daniel, Sweden's Queen Silvia, Sweden's King Carl Gustaf, Prince Carl Philip, Prince Daniel and Crown Princess Victoria watch from the balcony during the changing of the guard in the outer courtyard of Stockholm Palace on the occasion of King Carl XVI Gustaf's 50th anniversary on the throne, in Acquire Licensing Rights Read moreSTOCKHOLM, Sept 15 (Reuters) - Sweden's King Carl XVI Gustaf celebrated 50 years on the throne on Friday with ceremonies throughout the capital, including gun salutes, speeches and a lavish dinner with other heads of state. Friday is the culmination of a four-day celebration and the public was invited to the Stockholm palace courtyard to congratulate the 77-year-old king, the Nordic country's longest sitting monarch. The Swedish king is the official head of state but is largely confined to ceremonial and representative duties. Carl Gustaf ascended to the throne when he was 27 years old on Sept. 15, 1973, after the death of his grandfather Gustav VI Adolf. The king, who suffers from dyslexia, was often ridiculed in the early years of his reign for misspeaking during speeches.

Persons: Madeleine, Chris O'Neill, Prince Daniel, Sweden's Queen Silvia, Sweden's King Carl Gustaf, Prince Carl Philip, Victoria, King Carl XVI Gustaf's, King Carl XVI Gustaf, Carl Gustaf, Gustav VI Adolf, misspeaking, Johan Ahlander, Tom Little, Mark Heinrich Our Organizations: Crown, Nordic, Sweden, Gothenburg University, Thomson Locations: Stockholm, STOCKHOLM, Sweden, Southeast Asia, Brunei

☆ Belgium urges Apple to update iPhone 12 software across EU- minister
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: 1 min

PARIS, Sept 15 (Reuters) - Belgium's state secretary for digitalisation said on Friday he had asked Apple to upgrade the iPhone 12 software across EU countries, adding however that based on a preliminary review by the Belgian regulator the handset presents no danger to users. Mathieu Michel said in a statement that while a review of the phone by the IBPT regulator was still underway, the first results were "reassuring" and there was no need for a recall of the phone in Belgium. Belgium said on Thursday it would review potential health risks linked to Apple's iPhone 12, raising the prospect that more European countries might ban the model after France ordered a halt to sales due to breaches of radiation exposure limits. Reporting by Tassilo Hummel, writing by GV De Clercq, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

Persons: digitalisation, Mathieu Michel, Tassilo Hummel, Silvia Aloisi Organizations: Apple, GV, Thomson Locations: Belgian, Belgium, France

☆ Shipping giant Maersk is seeing tentative signs of a bounce back in global trade
▼ + stars: | 2023-09-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Containers of Danish shipping and logistics company Maersk are seen in Copenhagen, Denmark, on September 14, 2023. Sergei Gapon | Afp | Getty ImagesThere are tentative signs of a bounce back in global trade, according to the CEO of shipping titan Maersk. North America is also looking strong for the next year, despite having faltered along with many other major economies due to macroeconomic factors, including Russia's full-scale invasion of Ukraine and tensions with China. "As this starts to normalize and works itself out, we will see a rebound in demand," Clerc said. "I would say emerging markets and North America are certainly the points where we see the most upside potential," he added.

Persons: Sergei Gapon, Vincent Clerc, CNBC's Silvia Amaro, Clerc, Kristalina Georgieva Organizations: Maersk, Afp, Getty, Consumers, IMF, CNBC Locations: Copenhagen, Denmark, U.S, Europe, India, Latin America, Africa, North America, Ukraine, China

☆ Shipping giant Maersk unveils 'trendsetter' green vessel as it aims to be carbon neutral by 2040
▼ + stars: | 2023-09-14 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Evergreen and other shipping firms have ordered similar vessels, though they have less ambitious carbon neutrality targets than Maersk. Shipping accounts for around 3% of global carbon emissions, an amount comparable to major polluting countries. Denmark's Minister of Industry Morten Bodskov said this is because it is a global industry. In June, a group of 20 nations supported a plan for a levy on shipping industry emissions. "I'm worried about the rhetoric that energy transition is a downside and not really a great opportunity," he added.

Persons: Moller, Vincent Clerc, Clerc, Morten Bodskov, Bodskov, Maersk's, I'm Organizations: Maersk, DENMARK — Shipping, CNBC, Evergreen, Maersk . Shipping, Organization for Economic Cooperation, Development Locations: Copenhagen, DENMARK, China, Argentina, Brazil

People walk past a logo of French bank Societe Generale in front of the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. The bank sees the business as non-core, having sold part of its operations in 2020, said the people, who spoke on condition of anonymity. But a transaction may not happen soon because difficult market conditions weigh on the unit's valuation, they said. Societe Generale Equipment Finance provides equipment leasing and financing solutions to manufacturers, dealers and vendors in sectors ranging from transport to industrials. Rather than naming non-core businesses, Krupa is more likely to outline the group's growth areas, said one person familiar with the bank's thinking.

Persons: Gonzalo Fuentes, Slawomir Krupa, Krupa, Italy's, SocGen, Pablo Mayo Cerqueiro, Mathieu Rosemain, Andres Gonzalez, Amy, Jo Crowley, Elisa Martinuzzi, Silvia Aloisi, Jane Merriman, David Evans Organizations: Societe Generale, La Defense, REUTERS, Finance, Reuters, Deutsche Bank, BNP, Societe Generale Equipment Finance, Basel Committee, Thomson Locations: La, Paris, France, PARIS, Basel

☆ Carrefour sticks price warnings on food to shame suppliers
▼ + stars: | 2023-09-14 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

PARIS, Sept 14 (Reuters) - French supermarket chain Carrefour (CARR.PA) has slapped price warnings on products from Lindt chocolates to Lipton Ice Tea to pressure top consumer goods suppliers Nestle, PepsiCo and Unilever to reduce inflation ahead of much-anticipated contract talks. After a new round of meetings last month, Le Maire said Unilever, Nestle and PepsiCo were among companies not toeing the line on prices. But Carrefour's move to name and shame suppliers marks an escalation in the war of words between retailers and big multinationals. The shrinkflation warnings are in all French Carrefour stores, and will last until the targeted suppliers agree to price cuts, Bompais said. Le Maire said last month consumer goods companies and retailers had agreed to bring forward annual price negotiations - which would normally have taken place next year - to September.

Persons: Bompais, Alexandre Bompard, Bruno Le Maire, Le Maire, Dominique Vidalon, Richa Naidu, Helen Reid, Silvia Aloisi, Richard Chang Organizations: Carrefour, Lipton, Nestle, PepsiCo, Unilever, Finance, Thomson Locations: France, Carrefour, Paris, London

☆ Maersk CEO says the shipping giant is supportive of a carbon tax on the industry
▼ + stars: | 2023-09-14 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMaersk CEO says the shipping giant is supportive of a carbon tax on the industryVincent Clerc, CEO of Maersk, speaks to CNBC's Silvia Amaro about the idea of a global shipping tax.

Persons: Vincent Clerc, CNBC's Silvia Amaro Organizations: Email, Maersk

☆ Apple disputes French findings, says iPhone 12 complies with radiation standards
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

An Apple logo is pictured in an Apple store in Paris, France September 17, 2021. REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsPARIS, Sept 13 (Reuters) - Apple (AAPL.O) said on Wednesday its iPhone 12 model was certified by multiple international bodies as compliant with global radiation regulations and standards after a French watchdog ordered it to stop selling the phones due to above-threshold radiation levels. The ANFR radiation watchdog told Apple on Tuesday it should stop selling iPhone 12 in France after carrying out tests which it said showed the smartphone's Specific Absorption Rate (SAR) was higher than legally allowed. The ANFR said it expected Apple "to deploy all available means to put an end to the non-compliance. Apple said it had provided ANFR multiple Apple and independent third-party lab results proving its compliance.

Persons: Gonzalo Fuentes, Apple, AFNR, Mathieu Rosemain, Silvia Aloisi Organizations: Apple, REUTERS, Rights, Thomson Locations: Paris, France

☆ LaLiga announces partnership with Llanfairpwll, a small Welsh team with a very, very big name
▼ + stars: | 2023-09-13 | by ( George Ramsay | ) edition.cnn.com time to read: +2 min

CNN —Jude Bellingham, Robert Lewandowski, Luka Modrić – those are just some of the big names currently playing in LaLiga. Or, more accurately, the longest name: Welsh team Clwb Pêl Droed Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch Football Club. “This really is an outstanding partnership for us,” Samantha Jones-Smith, the club’s chairwoman, said as part of a LaLiga press release. Silvia Kusidlo/picture-alliance/dpa/APAccording to the press release, the jersey will debut on Saturday as Llanfairpwll, currently playing in the fifth tier of Welsh soccer, faces Holyhead Town. Llanfairpwll, which next year celebrates its 125th anniversary, isn’t the only Welsh team to achieve international distinction.

Persons: CNN — Jude Bellingham, Robert Lewandowski, Luka Modrić, ” Samantha Jones, Smith, “, Silvia Kusidlo, “ We’ve, ”, Gwydaf Hughes, LaLiga, It’s, Ryan Reynolds, Rob McElhenney Organizations: CNN, Spanish soccer, Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch Football Club, Llanfairpwll FC, LaLiga, Welsh, Holyhead Town, Wrexham, League Locations: LaLiga, North Wales, Holyhead, Anglesey, Europe

☆ Germany predicted to be the only major European economy to contract this year as recession lingers
▼ + stars: | 2023-09-11 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Manufacturing activity has struggled this year. Germany is set for a prolonged recession this year — the only major European economy to experience an economic contraction during 2023, according to fresh forecasts by the European Commission, the executive arm of the EU. The International Monetary Fund said in July that Germany would likely contract by 0.3% this year. The concept was coined back in 1998 when Germany faced deep economic challenges. Data released in early September showed manufacturing activity in the country fell at its strongest pace since June 2009, excluding the Covid-19 pandemic period.

Persons: it's Organizations: European Commission, Kremlin, Monetary Fund Locations: Klitten, Germany, Ukraine, Berlin, Europe

☆ EU's crackdown on Apple, Meta and others is to avoid forced breakups, top official says
▼ + stars: | 2023-09-07 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

BRUSSELS — U.S. tech giants are facing stricter rules in Europe with more regulation announced this week, but one senior European Union official told CNBC the aim is to avoid forced breakups of large businesses. They are Amazon , Alphabet , Apple , Microsoft , Meta and ByteDance, who now have six months to comply with stricter market rules — such as not being able to prevent users from un-installing any pre-installed software or apps, or treating their own services more favorably. The fine could be increased to 20% if the company in question continues to not comply with the rules. "And if they continue, yes, we have tools, including to break up these companies, but I will never want to use it. And I can tell you the discussion that we have with all these companies are professional and I believe are going in the right decision," Breton said.

Persons: Thierry Breton, Breton Organizations: European Union, CNBC, European Commission, Microsoft, Meta, Internal Locations: BRUSSELS, Europe

☆ 'Very stupid': Italy's bank tax remains controversial as government scrambles to update it
▼ + stars: | 2023-09-04 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

European bank shares dropped significantly in August after a surprise announcement from the Italian government for a new tax. Italy's shock tax on banks continues to prove controversial, even as the government insists it can improve it. "It's a very stupid law," Carlo Calenda, national secretary of the Azione political party, told CNBC over the weekend. Italy's Economy Minister Giancarlo Giorgetti said at Ambrosetti that the bank tax "can certainly be improved upon...but I do not accept that it is considered an unfair tax," according to Reuters. Antonio Tajani, the country's foreign minister and leader of the centre-right Forza Italia party, said the government is stable and the bank tax is not creating tensions.

Persons: Carlo Calenda, Italy's, CNBC's Steve Sedgwick, Giancarlo Giorgetti, Antonio Tajani, CNBC's Sedgwick Organizations: CNBC, House Ambrosetti, Brothers, Italy's, Reuters, Forza Italia Locations: Rome, Italy, Europe, Ambrosetti

☆ Many Italian parties are against China's Belt and Road Initiative, foreign minister says
▼ + stars: | 2023-09-02 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Many Italian parties are against Rome's participation in China's Belt and Road Initiative, Antonio Tajani, the country's foreign minister said Saturday, ahead of a critical decision on whether to quit the project. Under the agreement the two parties can end the deal after five years, otherwise the partnership gets extended for another five-year term. Tajani, however, did not confirm any specific time for when Italy will unveil its final decision on whether to continue in the Belt and Road Initiative. In this moment the countries without the Belt and Road Initiative, the European countries, are working better than us. For this, Italy will decide if [to] stay or not [to] stay in the Belt and Road Initiative.

Persons: Antonio Tajani, Rome, Mario Draghi, Tajani, Steve Sedgwick Organizations: Initiative, European Central Bank, Ambrosetti, Italy Locations: Italy, Beijing, Rome, China

☆ EU economics chief says Europe is gripped by a ‘double crisis’ — but it can avoid a recession
▼ + stars: | 2023-09-02 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Europe is facing the impact of a "double crisis," but the region can avoid a recession, Paolo Gentiloni, the European Commissioner for economic affairs, told CNBC on Saturday. "I think we are we facing the impact of the double crisis," Gentiloni said in reference to the geopolitical impact from Russia's full-scale invasion of Ukraine and the subsequent economic hit to the European continent. Russia's invasion of Ukraine in February last year sparked serious fears in Europe that the region would enter a significant economic slowdown. The euro area, in the end, grew at a rate of 3.5% in 2022, according to the International Monetary Fund. "The slowing down started from the last quarter of 2022 and it is there, but please don't call this a recession, because I think we can avoid a recession, we are avoiding recession," he said.

Persons: Paolo Gentiloni, Gentiloni, CNBC's Steve Sedgwick Organizations: CNBC, International Monetary Fund, Ambrosetti Locations: Europe, Ukraine, U.S, Germany, Russia, China

French Economy and Finance Minister Bruno Le Maire attends the China-France Economic and Financial Dialogue at the Diaoyutai State Guesthouse in Beijing, China, July 29, 2023. He said they had also agreed to bring forward annual price negotiations - initially planned for next year - to September. Le Maire went a step further on Thursday, naming Unilever, Nestle and Pepsi Co as being among the companies which he said were refusing to toe the line on prices. "The large multinationals could do much more," Le Maire said. "No one is willing to say 'I am going to reduce my prices' because the government is saying so," he said.

Persons: Bruno Le Maire, Thomas Peter, Le Maire, Le, Sybille De La, Silvia Aloisi, David Holmes, Frances Kerry Organizations: Finance, France Economic, REUTERS, Rights, Unilever, Nestle, PepsiCo, Federation du Commerce, Pepsi Co, Thomson Locations: China, France, Diaoyutai, Beijing, Paris

☆ 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

☆ Euro zone price rises steady for August but core inflation declines further
▼ + stars: | 2023-08-31 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Christine Lagarde, President of the European Central Bank (ECB), speaks during an ECB press conference in July. Inflation in the euro zone came in higher than analysts had expected for the month of August, although coming in unchanged from the previous month and complicating the role of the region's central bank. European Central Bank Member Robert Holzmann said the data shows inflation is still persistent, according to Reuters. He, one of the more hawkish members of the ECB, added that the latest figures pose a "conundrum" for the central bank. The central bank is due to meet on Sept. 14 and announce whether it is raising rates further.

Persons: Christine Lagarde, Dow Jones, Robert Holzmann, Lagarde Organizations: European Central Bank, ECB, Reuters

☆ Disgruntled Europeans hit out at banks for not passing on higher rates on savings
▼ + stars: | 2023-08-31 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

Those words from Marco Oliveira, a 50-year-old graphic designer from Portugal, underscore a deep lying annoyance in Europe with people bemoaning a lack of return on their savings despite surging interest rates. This, in practice, should translate into higher rates both on mortgages, but also on deposits. The key metric used by analysts is the deposit delta — which represents the increase in policy rates that banks pass through to the interest rates on deposits. For instance, Croatia's deposit delta is 12%, Cyprus is 30% and Portugal stands at 32%. And indeed, Portuguese banks show one of the lowest deposit delta, being the fifth worst in Europe," Teixeira said.

Persons: Marco Oliveira, Carlos Stilianopoulos, Marta Ferro Teixeira, Teixeira, Nicolas Charnay, Filipe Garcia, Banks, Garcia Organizations: Bank SA, Bloomberg, Getty, CNBC, European Central Bank, ECB, ABN Amro, ABN AMRO, P Global, P, SA, Reuters Locations: Thessaloniki, Greece, Portugal, Europe, Cyprus, France, Italy, Portuguese, Barcelona, Spain, PNL, —

☆ Microsoft to unbundle Teams software in Europe in bid to abate EU antitrust concerns
▼ + stars: | 2023-08-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Silhouettes of laptop users are seen next to a screen projection of Microsoft logo in this photo illustration. U.S. tech giant Microsoft on Thursday said it will unbundle its chat and videoconference service Teams from its Microsoft 365 and Office 365 products, in a bid to allay European Union antitrust concerns. European Union regulators had in July opened an antitrust investigation into Microsoft's bundling of Teams with other Office products, citing anti-competitive concerns. "We appreciate the clarity that has emerged on several of the concerns from extensive and constructive discussions with the European Commission. With the benefit of this clarity, we believe it is important that we start to take meaningful steps to address those concerns," Nanna-Louise Linde, vice president of Microsoft European Government Affairs, said Thursday in a blogpost.

Persons: Nanna, Louise Linde, — CNBC's Silvia Amaro Organizations: Microsoft, European Union, European Commission, Microsoft European Government Affairs, CNBC Locations: Swiss

☆ ‘Extremely rare’ Roman temple discovered on supermarket building site
▼ + stars: | 2023-08-30 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +4 min

That’s because workers at the site on the outskirts of town in December 2022 unearthed the ruins of an ancient Roman temple — or ‘capitolium’ — dating back to the first century BC. The excavation site in Sarsini has yielded ruins on top of ruins, literally. MiBac“We have unearthed three separate rooms, likely dedicated to the triad of gods Jupiter, Juno and Minerva,” lead archaeologist at the excavation site Romina Pirraglia told CNN. The discovery of the temple has pushed local authorities to revise their building plans. “The temple is an incredible finding that sheds light on how ancient Roman towns rose and fell across time.”What makes the discovery exceptional is the temple’s unique state of preservation.

Persons: Plautus, Jupiter, Minerva, ”, Pirraglia, …, Sarsina, Federica Gonzato, ” Gonzato, Gonzato, Romina, MiBac Gonzato Organizations: CNN Locations: Italy’s Emilia Romagna, Roman, Sarsini, Savio, Ravenna, Rimini, Forlì, Cesena, Sarsina, Italy

☆ 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

☆ They quit their jobs and sold the house. Now this family of four is touring the US in an RV
▼ + stars: | 2023-08-30 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +7 min

Since leaving their jobs last year, the couple has sold their home and is now living in a comfy 45-foot RV as they tour the US. Before setting out on the road, the family trialed camper life for a full year in Phoenix to allow the children to finish elementary school. Coming home late from work every day, she says she was no longer able to spend quality time with her family. They are now spending much less than when they had a house, roughly $1,200 per month for gas, food and basic needs. We have no schedule, no agenda.”Last stop: Latronico, ItalyAfter their RV adventures come to an end, the family plans to head for the Italian village of Latronico, where they purchased an old house.

Persons: Wendy McGrath, – Brady, Ainsley –, Steve McGrath “, ”, Steve, “ Wendy, ” Wendy, they’ve, it’s, We’ve, Steve McGrath, Brady, Ainsley, Wendy, “, ” Brady, Little Ainsley, McGrath, Shephard, Latronico, “ It’s Organizations: CNN Locations: Phoenix , Arizona, German, Phoenix, They’ve, Maine, American, Illinois, Italy, Latronico, Italian, Basilicata, Germany, iPhones

High food prices are a concern for all European governments, with retailers and consumer goods groups trading blame. In Hungary, Prime Minister Viktor Orban has imposed mandatory price cuts on some basic food items. And in Portugal, the government announced in March a package to help low-income families, including scrapping the value added tax on essential food products. French retailers have called for more regular price negotiations with consumer goods companies to reflect changes in the price of raw materials. This year those negotiations led to a 10% increase on the price of products on supermarket shelves.

Persons: Eric Gaillard, Bruno Le Maire, Mousquetaires, Thierry Cotillard, It's, Carrefour Alexandre Bompard, Viktor Orban, Le Maire, Dominique Vidalon, Helen Reid, Silvia Aloisi, Ingrid Melander, Bernadette Baum, David Evans, David Gregorio Our Organizations: REUTERS, Rights, French Finance, Federation du Commerce, RTL, Carrefour, FDC, Thomson Locations: Nice, France, Italy, Hungary, Portugal, Paris, London

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