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Argentina's annual inflation soars above 250% in January
Argentina's monthly inflation slowed slightly in January, but the prices of key goods and services rose 254 percent year-on-year, the statistics agency said Wednesday. Monthly inflation stood at 20.6 percent in January, the INDEC statistics agency said, down from the 25.5 percent figure for December.
More hunger, less money: Argentine soup kitchens count rations
In an Argentine soup kitchen, empty plastic containers are piling up from hungry visitors, and the cooks are worried their limited supply of pasta will not be enough to fill them. She points to empty crates normally filled with fruit and vegetables.
Renault bounces back in 2023 with net profit of 2.2 bn euros
French automaker Renault on Wednesday said it had bounced back into profit in 2023 as sales rose due to new models and price increases that helped it attain a record margin. Its operating margin, which compares operating profit to sales revenue, struck a record 7.9 percent.
Sticky UK inflation stokes Bank of England rate-cut debate
British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut. "The ingredients remain in place... to start cutting interest rates in the next few months," added Beck.
German auto supplier Continental says to cut 7,150 jobs
German auto supplier Continental said Wednesday it would cut some 7,150 posts worldwide by 2025 as the difficult switch to electric vehicles forces companies in the sector to retool. Germany's auto suppliers have been facing problems as the transition to electric mobility gathers pace, after decades relying on fossil fuel vehicles for their profits.
World demand for liquefied natural gas jumps 50% by 2040: Shell
British energy group Shell on Wednesday forecast that world demand for liquefied natural gas would jump more than 50 percent by 2040, fuelled by China dumping coal.
'Working is duty': French PM tells rail workers ahead of holiday strike
French Prime Minister Gabriel Attal on Wednesday warned train controllers against disrupting travel during school holidays as ticket inspectors geared up to strike this weekend. "The French know that going on strike is a right," Attal said, while adding pointedly that "working is a duty".
Body Shop's UK business slides into administration
The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has entered administration, administrators said Tuesday, placing thousands of jobs at risk.
Sony hikes profit forecast but says PS5 sales to slow
Japan's Sony upgraded its annual net profit forecast on Wednesday but trimmed its PlayStation 5 unit's sales target, with the flagship console currently in its fourth year on the market. The conglomerate now predicts a full-year net profit of 920 billion yen ($6.1 billion) instead of its previous target of 880 billion yen.
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