Author: News Room
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A slowing economy may lead to a decline in sales of pricey beef cuts, but don’t look for any bargains just yet. Market forces that have been building for a long time, including devastating droughts, will likely keep hamburger and steak prices steady — and relatively expensive. In part, that’s because there’s less beef. A contraction in beef supplies “has been coming for a while,” said David Anderson, a professor in Texas A&M University’s agricultural economics department. “We’re starting to see the effects that we knew were going to be coming for a couple of years.” When extreme drought hit…
For the past year, it’s been harder and more expensive for Russians to travel abroad.But some say that’s only the beginning of their concerns.With anti-Russian sentiment on the rise, several Russian citizens spoke to CNBC Travel about their worries, how they’re treated when they travel, and what goes through their minds when people ask where they are from.How traveling has changed for RussiansJulia Azarova, an independent journalist, said she left Russia a year ago. She said she fled Moscow for Istanbul after the invasion of Ukraine, before eventually settling in Lithuania.”I had to leave my own country” or risk imprisonment,…
DUBAI, United Arab Emirates — Uber-owned ride hailing service Careem announced on Monday a spinout with major backing from a new source, as well as from its parent company.Abu Dhabi-based tech holding company e&, formerly Etisalat, signed a binding agreement with Uber Technologies to acquire a 50.03% majority stake in the spinout — which will be known as Careem Technologies — with a $400 million investment.Careem’s ride-hailing business remains fully owned by Uber, which acquired it for $3.1 billion in 2019. Uber’s stake in the spinout is currently undisclosed.Careem Technologies will focus on the growth of the company’s “super app,”…
By Lindsay (NYSE:) Dunsmuir (Reuters) -The Federal Reserve should stick to raising interest rates to lower inflation while the labor market remains strong, given the high probability recent financial stresses will continue to abate and absent a marked tightening of credit conditions, St. Louis Fed President James Bullard said on Thursday. “We’ve got a long ways to go and I think inflation is going to be sticky going forward, it’s going to be difficult to get inflation back down to the 2% target … so we are going to have to stay at it in order to apply pressure to…
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against most major peers on Wednesday, reversing some of its recent declines, and gained sharply against the yen, which was volatile as the end of the Japanese fiscal year approaches. The , which measures the currency against six rivals, was 0.18% higher on the day at 102.67, pulling away from the near seven-week low of 101.91 touched late last week. “The recent failures in the financial sector of the U.S. appear to be contained and the immediate bleeding has stopped,” Helen Given, FX trader at Monex USA, said. Improving risk…
By Kate Abnett BRUSSELS (Reuters) – The U.S. and EU pledged on Tuesday to confront any attempts to destabilise global energy markets, after meeting in Brussels to discuss the impact of Russia’s invasion of Ukraine. Cooperation on energy between the United States and the European Union has intensified since Russia slashed gas deliveries to Europe after its invasion of Ukraine last year. This plunged the continent into a crisis over energy supplies and record-high prices. European politicians have accused Russia of “weaponising” its energy supplies and the U.S. and EU have imposed sanctions on Russian goods including coal and oil,…
© Reuters. FILE PHOTO: The moon rises behind the skyline and financial district in Toronto, November 25, 2015. REUTERS/Mark Blinch By Maiya Keidan TORONTO (Reuters) -Canadian dealmakers are optimistic about a return to strength in the second half of the year after mergers and acquisitions in the first quarter dropped to pandemic levels, belayed by higher borrowing costs and panic around a banking crisis. The collapse of regional banks Silicon Valley Bank and Signature Bank (OTC:) in the U.S. tightened credit markets, making funding difficult for deals. As the banking crisis abates and many global central banks move to the…
Headline consumer inflation in Europe is decelerating, data released on Thursday showed. However, bond yields reversed initial losses as traders noted German CPI not falling as much as hoped and underlying price pressures remained stubbornly high, raising concerns the European Central Bank may need to keep raising interest rates. Consumer prices in Spain, the eurozone’s fourth biggest economy, rose 3.1% in the year to March, down sharply from the 6% increase recorded in February and below forecasts of 3.7%. The 20-month low for Spanish inflation was driven by plunging energy prices as tight conditions in the natural gas market eased…
When it comes to dining out, customers say Shake Shack SHAK, +0.55% has gotten far too pricey for what it’s dishing out. And that’s despite the fact that it’s even not the most expensive of the fast-casual and fast-food restaurant chains. That’s the big takeaway from a study by Stifel SF, +0.82%, the wealth-management and investment-banking firm. The report looked at menu pricing at several popular chains, and it also looked at how customers rated these restaurants in terms of value — and highlighted which ones left them hungry for more. So, what’s the most expensive chain, based on the…
