food

Russian billionaire Fridman wins appeal but remains under EU sanctions

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Russian billionaire Fridman wins appeal but remains under EU sanctions

Russian billionaire Mikhail Fridman and his business partner Petr Aven were successful in appealing against EU sanctions related to Moscow’s war against Ukraine. The European Union Court of Justice annulled the sanctions, stating that there was insufficient evidence to justify their inclusion on the list. The men remain under separate punitive measures for now, with Fridman expressing satisfaction with the court’s decision. The EU has imposed sanctions on over 1,700 individuals and entities in connection to Russia’s invasion of Ukraine, but some sanctions have been voided or not extended by the ECJ.

US consumer prices rise more than expected in March

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US consumer prices rise more than expected in March

U.S. consumer prices rose more than expected in March due to higher gasoline and shelter costs, with the consumer price index increasing by 0.4%. Gasoline and shelter expenses made up over half of the CPI increase. In the 12 months leading to March, the CPI went up by 3.5%, surpassing the Federal Reserve’s 2% inflation target. Economists had predicted a 0.3% monthly increase and a 3.4% year-on-year increase. Despite a decrease from a peak of 9.1% in June 2022, the trend of disinflation has slowed recently. Some economists have postponed expectations for a rate cut to July, while others still believe the Fed may move in June. Fed Chair Jerome Powell has emphasized that there is no urgency to lower borrowing costs. The FedWatch Tool showed a 56.0% likelihood of a rate cut at the June 11-12 meeting. The core CPI, which excludes food and energy components, also rose by 0.4% in March and 3.8% over the 12 months ending in March.

Easter food spending lifts UK retail sales by most since August

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Easter food spending lifts UK retail sales by most since August

An early Easter boosted food spending in Britain last month, lifting retail sales by the most since August.

Cyprus set to host WHO small states health initiative

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Cyprus set to host WHO small states health initiative

Cyprus is hosting the World Health Organisation’s meeting of the small countries initiative in the European region. The meeting will focus on cancer, health and climate change, and countries will report progress on various health-related issues.

Business Tech Roundup: The Best Free Tax Software For Filing Your Taxes

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Business Tech Roundup: The Best Free Tax Software For Filing Your Taxes

Fact: CashApp Taxes is chosen as the best overall free tax preparation software by ZDNet.

Freeland doesn’t rule out new taxes on wealthy or corporate Canada in upcoming budget

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Freeland doesn't rule out new taxes on wealthy or corporate Canada in upcoming budget

Finance Minister Chrystia Freeland has ruled out raising taxes on the middle class in the upcoming federal budget, but has not confirmed if corporations or the wealthy will face tax increases.

Turning camels into cows: megafarms are being set up to produce camel milk on industrial,  scales

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Turning camels into cows: megafarms are being set up to produce camel milk on industrial,  scales

Camels are increasingly being enclosed in large dairy farms in the Middle East, where they are milked by machine. This industrialized farming model is driven by the growing demand for camel milk as an alternative to cow, sheep, and goat milk. The traits of camels make them resilient to climate change, but there are concerns about the loss of traditional knowledge and cultural heritage associated with mobile camel herders. The camel milk market is expected to grow rapidly, with estimates ranging from US billion to billion by the end of the decade.

Israel says more aid is entering Gaza, but figures disputed

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Israel says more aid is entering Gaza, but figures disputed

Israel is increasing aid flow into Gaza in response to international pressure, but the amount is still disputed. The United Nations states that the aid is much less than what is needed to meet humanitarian needs. Israel reported 419 trucks entering Gaza on Monday, while the Red Crescent and the United Nations reported lower figures due to Israeli inspection rules. The devastated Palestinian enclave is facing famine and disease, with most inhabitants homeless. Aid agencies criticize Israel for not ensuring enough access for humanitarian supplies. Israel denies hindering aid and blames the United Nations for delays. The international community, including the United States and France, is pressuring Israel to increase aid access. Israel has agreed to open crossings for aid supplies but distribution inside Gaza remains a challenge. UNRWA reports that only 223 trucks entered Gaza on Monday, less than half of what is required daily. Distribution problems persist inside Gaza, with food convoys to the north facing more restrictions than other humanitarian aid. Israel’s military has not responded to accusations of restricting aid convoys inside Gaza.

Silver climbs to near $28, tracking rally in gold

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Silver climbs to near $28, tracking rally in gold

Silver is trading at a two-year high near .00 per ounce, driven by heightened consumer and industrial demand as well as central banks increasing their reserves in gold. US Treasury yields have corrected after two days of gains, with the 2-year and 10-year yields standing at 4.78% and 4.39%, respectively. Traders are eagerly awaiting the release of the US Consumer Price Index data scheduled for Wednesday, with expectations of an acceleration in the headline CPI and a cooling down in the core measure. Geopolitical tensions in the Middle East have eased, with peace talks between Israel and Hamas resuming in Egypt. Traders will focus on the upcoming US inflation data and the release of FOMC minutes this week to gain more clarity on the timing of the Fed’s monetary policy adjustments.

Home renovations for Europe, ’s low-income families get a boost

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Home renovations for Europe, ’s low-income families get a boost

Fact: In the northeastern Italian city of Trieste, a construction project is underway to demolish and replace eight buildings with social housing from the 1950s with energy-efficient apartments, creating green spaces and improving existing ones to enhance the area and promote outdoor activity and social interaction.