Brazil to end port costs in tax calculation to cheapen imports
BRASILIA – Brazil’s government is planning to allow port costs to be excluded from tax calculations to lower the cost of imports, three Economy Ministry …
Costs
Years of low U.S. consumer energy costs wane following Russian invasion
By Stephanie Kelly NEW YORK – U.S. motorists, already dealing with a steep rise in spending on fuel as the economy rebounded from the coronavirus-induced …
Recent surge in energy costs to cut Italy 2022 GDP by 0.7 points – ISTAT
ROME – The recent surge in energy prices will reduce Italy’s economic growth this year by around 0.7 percentage points, national statistics institute ISTAT estimated …
Europe-wide gas price cap needed to limit soaring costs – Engie CEO
BRUSSELS – A Europe-wide cap on gas prices is needed to respond to soaring prices and contain price volatility in the gas and electricity markets, …
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 …
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 …
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, …
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 …
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 …
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, …
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 …
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 …
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. …
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 …
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 …
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, …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
Democratic City Recommends Residents Turn Down Thermostat, ‘Harness Sunshine’ As Energy Costs Spike
The city of Boulder, Colorado, issued a warning to residents Monday, urging them to cut back on home energy use throughout the winter as energy …
Supply chain crisis, inflation to impact the beer market in 2022 due to rising costs, aluminum shortage
The beer industry is experiencing a shortage in brown glass and aluminum cans and is expecting their alcoholic beverages to be impacted by price hikes …
President Joe Biden shocked to learn ground beef now costs over $5 per pound
WASHINGTON, DC – We’re unable to confirm the truthfulness of the story told this week by President Joe Biden as many of his tales have …
Bucco: New Jersey Democrats colluding to hide huge costs of Phil Murphy green energy tax
Senator Anthony M. Bucco said Governor Phil Murphy and Democrats in the Legislature are colluding on an effort to reduce scrutiny of the administration’s absurdly …
U.S. Attorney Files Civil Fraud Lawsuit Against Non-Profit And Settles Fraud Claims Against Its Founder For Inflating Medicaid Reimbursements By Falsely Reporting Millions In Costs
Damian Williams, the United States Attorney for the Southern District of New York, and Scott Lampert, the Special Agent in Charge of the New York …
Are you looking for a 24 karat gold turkey for Thanksgiving? Here it is and it costs just $2,500
2021 is promising to be the most expensive Thanksgiving dinner in American history thanks to the rising inflation under President Joe Biden. If you’re thinking …
Votes On Build Back Better, Infrastructure Bill Delayed As Democrats Scramble To Reach Agreement On Lowering Drug Costs
The House Rules Committee is no longer meeting Monday to markup Democrats’ spending package, meaning that the full House vote on it and the bipartisan …
‘A National Security Issue’: Republicans Take Aim At Democrats Over Rising Gas Prices, Energy Costs
GOP lawmakers have turned up the heat on the Biden administration, repeatedly slamming it for rising energy prices that consumers have experienced recently. House Minority …
Procter And Gamble To Raise Prices Of Popular Goods Citing Increasing Transportation And Material Costs
Procter and Gamble said Tuesday it is raising prices on a variety of popular home goods due to a sharp increase in freight transportation and raw …
Biden adjusts misleading “It costs nothing” for $3.5 trillion spending message
Since announcing his $3.5 trillion Build Back Better agenda, President Joe Biden and senior White House officials declared the spending will cost Americans nothing. During …
Attorney General Wilson joins 19-state effort urging Congress to oppose increased natural gas, oil costs
(COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson joined a 19-state coalition urging Congress to reject burdensome legislation that would increase fees on energy …
U.S. Navy tells sailors to take the vaccine or they could be forced to pay back all of their training costs, face discharge
This week, the U.S. Navy issued a sweeping new order that details exactly what’s going to happen to sailors who refused to get the COVID-19 …
Harvard’s Endowment Ballooned By $11 Billion As It Fought Off Student Class-Action Lawsuit Over Tuition Costs
Harvard University announced Thursday that its endowment grew by $11.3 billion to a record $53.2 billion during the fiscal year ending in June, a year-over-year …
White House says climate crisis is more important than rising energy costs to Americans
The White House downplayed surging energy prices in the U.S. and worldwide on Wednesday, arguing that the climate crisis was more important. “Certainly, we all …