A report reveals R100 in 2000 is now worth R385 in 2026, with food prices soaring over 500%, driven by fuel costs and inflation impacting South African households.
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US retail sales slump more than expected in January
Retail sales in the United States fell more than analysts anticipated last month, bogged down by weak auto sales and lower gas prices, government data showed Thursday. Excluding the auto sector, retail sales fell 0.6 percent in January from December -- a development analysts attribute to higher rates on loans and the unwinding of pent up demand after supply chain problems were resolved.
Tractors gather in central Madrid in farmers' protest
Spanish farmers kept up their protests over the sector's troubles on Thursday, with tractors parked outside of the agriculture ministry in central Madrid before a meeting with Agriculture Minister Luis Planas.
IEA warns on plummeting oil stocks
The International Energy Agency warned Thursday of plummeting oil stocks even as global growth in demand loses momentum. "Global observed oil stocks plummeted by about 60 mb (million barrels) in January, preliminary data indicate, with on-land inventories falling to their lowest level since at least 2016," the IEA said in its latest monthly oil market report.
Brazil quake city families seek justice in Dutch court
Residents from a Brazilian city devastated by earthquakes caused by salt mining went to a Dutch court Thursday, seeking justice and compensation they say is impossible in Brazil. Once a city of one million people, life in Maceio has been upended by earthquakes in 2018 attributed to salt mining and subsequent cracks in streets and buildings.
Airbus posts 11 percent profit drop for 2023
European aviation giant Airbus on Thursday posted an 11 percent drop in net profit to 3.8 billion euros ($4.1 billion) in 2023, with past charges for its space business cutting into earnings. Revenues at Airbus Defence and Space increased two percent, But profits at the space division fell 40 percent to 229 million euros because of a one-off 600 million charge.
UK economy slides into recession ahead of election
Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, whose Conservative party is forecast to lose a general election expected this year.
EU cuts eurozone inflation, growth forecasts for 2024
The European Commission on Thursday cut both its growth and inflation forecasts for the eurozone in 2024, as it warned geopolitical tensions spelled rising uncertainty for the single-currency area's economy. "We are closely tracking geopolitical tensions, which could have a negative impact on growth and inflation," he said.
Japan's humble 'onigiri' rice balls get image upgrade
Wrapped in seaweed and stuffed with delicious fillings, "onigiri" rice balls are shaking off their reputation as a cheap and uninspiring snack in Japan -- and enticing hungry converts abroad. Kawarada wants to open dozens of onigiri restaurants abroad and thinks the snack could one day dethrone sushi as Japan's best-known culinary export.
Asian markets mostly up, tracking Wall Street gains
Most Asian markets rose Thursday, tracking a rebound in Europe and New York and following positive remarks from a senior Federal Reserve official that inflation was headed in the right direction. In Tokyo, official data released Thursday showed Germany overtook Japan last year as the world's third-biggest economy, primarily because of a sharp fall in the yen.
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