June 5, 2023
The United Nations says prices for world food commodities like grains and vegetable oils have reached their highest levels ever because of Russia's war in Ukraine. The U.N. Food and Agriculture Organization said Friday that its Food Price Index, which tracks monthly changes in international prices for a basket of commodities, averaged 159.3 points last month, up 12.6% from February. As it is, the February index was the highest level since its 1990 inception. FAO says the war in Ukraine was largely responsible for the 17.1% rise in prices for grains, including wheat. Russia and Ukraine together account for around 30% and 20% of global wheat and corn exports, respectively.
LIMA, Peru (AP) — Peru's capital and its main port were under a tight curfew Tuesday decreed by President Pedro Castillo in response to violent protests over rising fuel and food prices, with armed soldiers and police deployed to enforce the measure.
DETROIT (AP) — BMW has halted production at two German factories. Mercedes is slowing work at its assembly plants. Volkswagen, warning of production stoppages, is looking for alternative sources for parts.
DES MOINES, Iowa (AP) — Bird flu has infected two more farms in Iowa, forcing the killing of 5.3 million hens and 88,000 turkeys, officials said Friday.
ATLANTA – The General Assembly has decided it needs more time to prepare for the coming wave of electric vehicles.
For decades, the free flow of trade across much of the world allowed the richest nations to enjoy easy access to low-priced goods and supplies. It meant solid economies and stable markets.
OMAHA, Neb. (AP) — Several hundred workers at a Kellogg's plant that makes Cheez-Its won a new contract that delivers more than 15% wage increases over three years after 1,400 workers at the company's cereal plants went on strike for nearly three months last fall.
Russia's war in Ukraine will disrupt commerce and clog up supply chains, slashing economic growth and pushing prices sharply higher around the globe, the Organization for Economic Cooperation and …
Two months after the Berlin Wall fell, another powerful symbol opened its doors in the middle of Moscow: a gleaming new McDonald’s.
Western sanctions are dealing a severe blow to Russia's economy. The ruble is plunging, foreign businesses are fleeing and sharply higher prices are in the offing. Familiar products may disappear from stores, and middle-class achievements like foreign vacations are in doubt.
