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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'Labour is the party of business,' UK's Starmer tells corporate bigwigs
UK opposition leader Keir Starmer promised Britain's corporate community Thursday that his Labour party would better marshal the economy than the ruling Conservatives if elected. Sunak claims he has put Britain's economy back on track, including by halving inflation, and that Labour would take the UK "back to square one". pdh/phz/rox
Hundreds of farmers protest at Greek agriculture fair
Hundreds of Greek farmers on Thursday converged on the country's second city Thessaloniki to demand aid increases, as similar protests gather pace across Europe. Greek Prime Minister Kyriakos Mitsotakis on Tuesday offered to speed up financial aid to farmers in a bid to stave off the protests.
Shares in banking giants BNP, ING fall despite hefty profits
Shares in European banking giants BNP Paribas and ING tumbled on Thursday as disappointing fourth-quarter results took the shine off bumper annual profits. But BNP shares were down seven percent in afternoon deals on the Paris stock exchange as its fourth quarter earnings disappointed.
Farmers take protest to EU leaders
European farmers took their growing protest over low prices and the threat of competition from South American agri-food importers to Brussels on Thursday, clogging the streets with 1,300 tractors as EU leaders met for a summit. Farmers explained to AFP that was part of their calculation in taking their protest to Brussels.
Bank of England freezes rate as inflation stays high
The Bank of England froze its key interest rate Thursday for a fourth meeting in a row, matching US Federal Reserve policy, as high inflation prevents cuts to borrowing costs. Across the Atlantic, the Federal Reserve on Wednesday indicated that while it was moving towards US rate cuts, they probably would not occur before May at the earliest.
Catalonia declares drought emergency for Barcelona
Spain's northeastern Catalonia region declared a drought emergency for Barcelona on Thursday and the surrounding area, which will now face tighter water restrictions following three years without significant rain. The water use restrictions will apply to Barcelona and 201 surrounding local councils from Friday.
Thousands strike in Finland over labour reform
A massive Finnish strike movement kicked off on Thursday, grounding most air traffic and closing workplaces in a protest against proposed government labour reforms that include social benefit cuts.
Eurozone inflation slows to 2.8% in January
Eurozone inflation fell in January due to a slowdown in food price increases, official data showed Thursday, but the drop was more modest than expected by analysts. But analysts had expected it to drop to 3.2 percent.
Defiant French farmers stick to barricades
France's farmers showed little sign on Thursday of abandoning their protest despite government concessions in response to a movement that has spread nationwide and elsewhere in Europe. France's government hailed the moves as a victory for its lobbying, but they have not been enough to soothe the farmers' grievances.
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