Sherrill joins Dem chorus blaming Trump and Ciattarelli for skyrocketing energy costs under Phil Murphy
NEWARK, N.J. — Democratic gubernatorial candidate Mikie Sherrill joined a growing list of New Jersey Democrats Thursday in blaming President Donald Trump and GOP candidate Jack Ciattarelli for the state’s rising utility…
Refining margins, fuel costs surge on fallout from Russian invasion
By Stephanie Kelly NEW YORK – Refining profits, or margins, from turning crude oil into products such as gasoline and diesel are ballooning, and could surge further after the United States, the…
Explainer-Russia could work around SWIFT ban but with high costs
By Tom Bergin – Western sanctions banning several Russian banks from the SWIFT international payments network with the potential threat of more to come if there is no end to the Ukraine…
Russian-Ukraine fears send CDS debt insurance costs soaring
LONDON – The cost of insuring against a Russian government debt default soared by almost 50% on Monday and premiums on other emerging market countries, junk bonds and swathes of Europe’s banks…
Brazil economy minister backs bigger cooking gas subsidies as crude costs soar -sources
By Marcela Ayres and Bernardo Caram BRASILIA – Brazil’s economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to soaring crude prices during the Ukraine conflict,…
Russian air space closure means millions in extra costs -Lufthansa CEO
BERLIN – Lufthansa Chief Executive Carsten Spohr said routing flights to avoid Russian air space will increase costs for the German flagship carrier by a single-digit million-euro amount per month. “Some long-haul…
Turkey’s trade deficit surges, energy costs add to risks
By Nevzat Devranoglu ISTANBUL – Turkey’s trade deficit widened 186% year-on-year in the first two months of the year due to a surging energy bill, data showed on Wednesday, as soaring commodities…
Japan, U.S. finance chiefs pledge ‘maximum costs’ for Russia
TOKYO – Japan and the United States pledged on Tuesday to work together to force Russia to “pay the high price” for its invasion of Ukraine, Finance Minister Shunichi Suzuki said on…
Insurance costs of shipping through Black Sea soar
By Jonathan Saul LONDON – Insurers have raised the cost of providing cover for merchant ships through the Black Sea, adding to soaring rates to transport goods through the region for vessels…
U.S. companies grapple with surging costs as supply chain problems persist
By Timothy Aeppel – Dave Petratis boosted wages for his U.S. factory workforce in December – six months ahead of schedule for normal annual increases. It wasn’t enough. The CEO of Allegion…
LG Abandons Solar Panel Business Amid Supply Chain Issues, High Costs
LG Abandons Solar Panel Business Amid Supply Chain Issues, High Costs Thomas Catenacci on February 23, 2022 South Korean technology company LG Electronics announced Wednesday that it would abandon its struggling solar…
Britain’s Lloyds profit recovery marred by fraud costs
By Iain Withers and Lawrence White LONDON -Britain’s largest high street bank Lloyds posted a jump in annual profits on Thursday but was dented by further costs for past misdeeds, as the…
Pirelli taking steps to counter higher costs, Ukraine crisis
MILAN -Italian tyremaker Pirelli on Wednesday reassured it was taking steps to offset higher costs as well as the impact of the crisis in Ukraine, and had a contingency plan ready were…
With fertilizer costs high and seeds scarce, U.S. farmers turn to soy
By Mark Weinraub and Julie Ingwersen CHICAGO – North Dakota farmer Jennifer Meyer typically devotes at least 20% of her 2,500-acre farm to corn, which provides a convenient feed for the cattle…
Top Russian Official Threatens Europe With Higher Energy Costs After Nord Stream 2 Decision
A top Russian government official warned that energy costs would skyrocket in Europe after Germany halted certification of the Nord Stream 2 pipeline Tuesday. “German Chancellor Olaf Scholz has issued an order…
Canadian banks set for 1st-qtr profit growth, but costs, margins could deal blow
By Nichola Saminather TORONTO – Canadian banks are set to report higher first-quarter earnings from a year ago, thanks to low provisions for credit losses and improving loan demand, but rising costs…
Harris: American sacrifice for Ukraine means even higher energy costs for all
WASHINGTON, D.C. – Vice President Kamala Harris is warning Americans to brace for even higher energy costs as the crisis between Ukraine and Russia continue into the spring. Last week, the White…
Surging housing costs boosting overall euro zone inflation: ECB
FRANKFURT – Euro zone housing costs rose sharply last year, boosted by soaring German property prices and adding to already uncomfortably high overall inflation, a European Central Bank study showed on Wednesday.…
France’s Capgemini 2022 margin growth likely capped by costs
-Gains in French IT consultancy Capgemini’s operating margin this year will likely be held back by inflationary pressures on salary and the cost of returning to offices, the company said after reporting…
Chipotle profits beat expectations despite higher costs, Omicron
By Praveen Paramasivam and Hilary Russ – Chipotle Mexican Grill Inc beat Wall Street estimates for quarterly profits and comparable sales on Tuesday as higher demand and prices for its burritos and…
U.S. worker productivity rebounds in fourth quarter; labor costs tepid
WASHINGTON – U.S. worker productivity rebounded more than expected in the fourth quarter, curbing labor costs growth, but the coronavirus pandemic has distorted the data and prevented a clear trend. The Labor…
Despite rising costs, Americans will still eat 1.2 billion chicken wings during Superbowl weekend
Football fans might be surprised at the matchup, but one thing is not surprising: America’s love for chicken wings. This is never more apparent than on Super Bowl weekend, when wings are…
Murphy’s Energy Master Plan is Full of Hot Air, Will Significantly Raise Energy Costs
From the Desk of NJ Senator Anthony Bucco Senator Anthony M. Bucco (R-25) blasted the Murphy Administration for what may be its very first admission about the actual cost impacts of its…
Analysts eye UPS automation efforts to offset increased wage costs
By Arriana McLymore NEW YORK, NY – Higher labor costs during the pandemic-plagued holiday season may erode the profits of United Parcel Service, the world’s biggest package delivery firm, which is set…
Spanish inflation slows to 6% y/y in Jan on lower power costs
-Spanish inflation slowed to 6% year-on-year in January from 6.5% in December, mainly thanks to lower electricity costs, flash data from the National Statistics Institute (INE) showed on Monday. The 12-month inflation…
U.S. labor costs increase solidly in the fourth quarter
WASHINGTON – U.S. labor costs increased strongly in the fourth quarter, pointing to a rapidly tightening jobs market and supporting the Federal Reserve’s shift towards raising interest rates. The Employment Cost Index,…
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