Here’s a round-up of today’s news.
Beverage Maker Fever-Tree And the owner of the restaurant chains Vagama and Frankie & Benny’s has warned of a dramatic rise in the prices of commodities and gas and electricity and the war in Ukraine puts pressure on their businesses.
Fever-Tree has lowered its profit guidance, blaming the “dramatic rise” in commodity prices after Russia’s invasion. Ukraine, The company, which had forecast an adjusted profit of £69m to £72m this year, has lowered its outlook to between £63m and £69m.
federal Reserve Interest rates are expected to rise for the first time since 2018 as it grapples with rising US inflation, the impact of the war in Ukraine and the continuing coronavirus crisis.
The Fed has a dual mandate – to maximize employment and keep prices under control. Thanks to Fed rate cuts and a massive stimulus program, the job market and the broader economy have made an impressive recovery from the lows of the pandemic, but prices rose 7.9% in the year through February – the highest rate of inflation. in 40 years.
The Church of England is pressuring French energy giant Total Energy over its decision not to cut ties with Russia after Vladimir Putin’s invasion Ukraine,
The church’s pension board and the manager of its investment fund said they would reconsider their stake in the company.
At least 18 private jets or helicopters are connected Russia The aircraft has been removed from the Isle of Man’s register, as offshore authorities enforce sanctions brought by the European Union and the UK.
Three planes have been taken down in the past week, including a helicopter and private jets believed to eventually be owned by Roman Abramovich, Oleg Tinkov – an oligarch not subject to direct sanctions – and Dmitry Mazepin.
Research has found the UK could eliminate all need for Russian gas imports this year through a combination of energy efficiency, expanding renewable energy production and a campaign to help change people’s behaviour.
Information campaigns played a strong role in changing the behavior of people during the COVID-19 pandemic. Many people are unaware of the savings in energy use through small changes that may make no difference to their comfort but can cut bills significantly.
After the government blocked exports of hundreds of millions of pounds, Russian oligarchs would no longer have access to baubles such as cars, artifacts and designer handbags sold by British companies.
Last year, UK firms sold a total of £2.6bn worth of goods to Russia, of which the largest piece was cars, for around £400m, as wealthy Russian eminent marques such as Aston MartinBentley and Rolls-Royce.