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For a while yet if in the future at all, pointing to an unstable global Food Supply Pressurised by the war in ukraine. Now the price of food in the uk rose by nearly 17. 5 in the year tojune, which was actually a fall from a high of just over 19 in the year to march, following an overall drop in the wholesale price of food which you can see here peaking when russia invaded ukraine last year. It has been trending downwards. But prices are still much higher than before the war and have started creeping up again. Lets discuss this with Kona Haque Head of reserach at commodities house ed and f man holdings. Good to have you on the programme. Do you agree with the Chief Economist at the Bank Of England that actually high food prices are here to stay . I think ....
The value of imports also fell by more than expected. Down 12. 4 onjuly a year ago, but that partly reflects a fall in the price of commodities such as crude oil. The figures will concern chinas government who are grappling with economic growth. The quarterly Growth Figure was just 0. 8 in the april tojune period as the country continued its post covid recovery. And last month chinas struggles were cited as a key concern for the Global Economy when the International Monetary fund updated its Global Growth forecast for this year to 3 . David woo is a former imf economist and wall street strategist, hejoins me now from tel aviv. Its a grim picture for china, isnt it . The third consecutive month of decline. Whats going wrong for them . ,. , decline. Whats going ....
I mean, these figures for trade are actually even worse than economists had anticipated in terms of exports. Its the weakest data since back in february 2020, when china, of course, was right in the thick of the pandemic. Why is this data so bad . Well, its mainly to do with chinas customers abroad. Theyre really struggling with high inflation, high Interest Rates. So theyre spending less money on chinese goods. And if youre a policymaker in beijing, well, its difficult to say what you should do about that. You cantjust force other countries to start buying more of your goods. But theres also more to contend with. If you look at the spending within china, thats also looking not very encouraging at the moment. Tomorrow, were expecting some more figures to be coming out, which will probably show Deflation Prices actually going down in china. Thats a bit more difficult to expl ....
Stablecoins are crypto tokens whose value is pegged to a stable asset and are currently mostly used to trade for other cryptocurrencies. publishing giant simon & schuster is to be sold to a private equity giant for $1.6 billion in cash. the deal with investor kkr marks the likely end of a years long saga for owner paramount global, which had been looking for a buyerfor the book company since 2020. competition concerns had scuppered a previous deal, which valued the firm at more than $2 billion. italy s cabinet has approved a 40% windfall tax on banks profits for 2023. with the money thought to be in the billions of euros set to be used to help mortgage holders and cut taxes. according to the deputy prime minister matteo salvini ....
Major financial tech firm to embrace such digital currencies for payments and transfers. stablecoins are crypto tokens whose value is pegged to a stable asset and are currently mostly used to trade for other cryptocurrencies. publishing giant simon & schuster is to be sold to a private equity giant for $1.6 billion in cash. the deal with investor kkr marks the likely end of a years long saga for owner paramount global, which had been looking for a buyer for the book company since 2020. competition concerns had scuppered a previous deal, which valued the firm at more than $2bn. italy s cabinet have approved a 40% windfall tax on banks profits for 2023, with the money, thought to be in the billions of euros, set to be used to help mortgage holders and cut taxes, according to the deputy prime minister, matteo salvini, who criticised the banks for not passing on higher interest rates to savers. ....