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Topic Summary

Posted by: NadiaWits
« on: November 07, 2022, 06:00:06 AM »

Shipping giant Maersk warns of looming global recession; eurozone factory slump deepens – as it happened

AP Møller-Maersk says Ukraine war, Europe’s energy crisis and high inflation are hitting demand, as it forecasts lower demand for containersUK food prices soar by fastest rate on record as cost of living crisis bitesRichard Walker, managing director of Iceland Foods, has warned that rising food prices will get worse.Walker tells the Today Programme that the prices of staples such as milk, bread and eggs have all jumped – which is worst for households who are struggling the most.I’ve got cost prices currently on the table from big branded suppliers that we haven’t stomached yet as a business, let alone had to pass on to our customers.So I think it will get worse.Food insecurity is inevitably on the rise, and it’s the households with kids who are most at risk.We don’t make money on milk, and there will be loss leaders that we have to sell because our customers are simply reliant on it. Continue reading...

Source: Shipping giant Maersk warns of looming global recession; eurozone factory slump deepens – as it happened

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