Economics – parsian news

Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows

Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludesProfiteering has played a significant role in boosting inflation during 2022, according to a report that calls for …

Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes

Profiteering has played a significant role in boosting inflation during 2022, according to a report that calls for a global corporation tax to curb excess profits.

Analysis of the financial accounts of many of the UK’s biggest businesses found that profits far outpaced increases in costs, helping to push up inflation last year to levels not seen since the early 1980s.

ExxonMobil: profits of £15bn increased to £53bn

Shell: £16bn up to £44bn

Glencore: £1.9 bn up to £14.8bn

Archer-Daniels-Midland: £1.4bn up to £3.16bn

Kraft Heinz: £265m up to £1.8bn

The Guardian view on Tory ideology: Thatcherism isn’t working – it never did | Editorial

There was no miracle, only a myth manufactured by the Iron Lady herself. It’s time Westminster woke up to thatA spectre is haunting British politics. Its outline is instantly recognisable to every Briton of a certain age: hair coiffed into a halo,…

There was no miracle, only a myth manufactured by the Iron Lady herself. It’s time Westminster woke up to that

A spectre is haunting British politics. Its outline is instantly recognisable to every Briton of a certain age: hair coiffed into a halo, shoulders firmed up with pads and, jutting out from the left wrist, the inevitable handbag.

More than three decades after she was driven out of No 10, and a decade after her death, Margaret Thatcher still casts a long shadow over the country she once ruled, and her party. Rishi Sunak sat in her old Rover (and tweeted about it, naturally) and Liz Truss copied her wardrobe. She influenced the Labour party under Tony Blair, though this admiration was first tempered by Labour under Ed Miliband and even more under Jeremy Corbyn. Sir Keir Starmer’s praise for Mrs Thatcher is perhaps more about internal Labour politics than about the Tories’ “leaderene”.

Brexit car tariffs to be suspended for three years as EU protects car exports – business live

Live, rolling coverage of business, economics and financial markets as Bank of England’s Andrew Bailey calls for UK to ‘embrace AI’The Bank has said that the full effect of interest rate increases is yet to come through to the economy, suggesting there…

Live, rolling coverage of business, economics and financial markets as Bank of England’s Andrew Bailey calls for UK to ‘embrace AI’

The Bank has said that the full effect of interest rate increases is yet to come through to the economy, suggesting there may be more pain ahead.

It said:

The full effect of higher interest rates has yet to come through, posing ongoing challenges to households, businesses and governments, which could be amplified by vulnerabilities in the system of market-based finance

The full impact of higher interest rates will take time to come through. Given the impact of higher and more volatile rates, and uncertainties associated with inflation and growth, some risky asset valuations continue to appear stretched.

Conditions remain challenging, given increased geopolitical tensions and uncertainties over growth, inflation and interest rates.

The UK banking system is strong enough to support households and businesses, even if the economy does worse than expected.

Why the EU now plans to delay post-Brexit tariffs on electric vehicles

All you need to know about the European Commission’s new proposal to delay its 10% charge on EVsEU set to suspend Brexit tariffs on EVs for three yearsBrussels to issue veiled warning to China over state-subsidised goodsThe European Commission is likel…

All you need to know about the European Commission’s new proposal to delay its 10% charge on EVs

The European Commission is likely to propose a three-year delay on post-Brexit tariffs on electric cars, after months of lobbying by industry and the UK government.

Carmakers were fearful that exports between the UK and EU – in both directions – would be hit by 10% tariffs in the new year because of “rules of origin” aiming to reduce China’s dominance of the global battery industry.

Why the EU now plans to delay post-Brexit tariffs on electric vehicles

All you need to know about the European Commission’s new proposal to delay its 10% charge on EVs

The European Commission is likely to propose a three-year delay on post-Brexit tariffs on electric cars, after months of lobbying by industry and the UK government.

EU set to suspend Brexit tariffs on EVs for three years in major boost for car industry

Commission moves to delay 10% sales charge after intense lobbying by EU and UK carmakersThe European Commission looks set to propose a three-year delay to a 10% tariff on sales of electric vehicles between the EU and the UK, in a major boost for car in…

Commission moves to delay 10% sales charge after intense lobbying by EU and UK carmakers

The European Commission looks set to propose a three-year delay to a 10% tariff on sales of electric vehicles between the EU and the UK, in a major boost for car industries across Europe.

Duties were due to kick in on 1 January 2024 but all the major carmakers in the UK and Europe including BMW, Volkswagen and Stellantis have been lobbying for a temporary reprieve.

EU expected to issue veiled warning to China over supply of cut-cost goods

European Commission chief Ursula von der Leyen to meet Chinese president Xi Jinping at summit on ThursdayThe EU is to tell China that its €400bn (£343bn) trade deficit is not sustainable long term amid fears that it will flood the bloc with subsidised …

European Commission chief Ursula von der Leyen to meet Chinese president Xi Jinping at summit on Thursday

The EU is to tell China that its €400bn (£343bn) trade deficit is not sustainable long term amid fears that it will flood the bloc with subsidised electric cars, solar panels and medical devices, threatening European manufacturing and jobs.

Ursula von der Leyen, the European Commission chief, and Charles Michel, the European Council president, will meet Xi Jinping at a summit on Thursday, the second of its kind this year.

EU expected to issue veiled warning to China over supply of cut-cost goods

European Commission chief Ursula von der Leyen to meet Chinese president Xi Jinping at summit on Thursday

Ursula von der Leyen, the European Commission chief, and Charles Michel, the European Council president, will meet Xi Jinping at a summit on Thursday, the second of its kind this year.

Fierce supermarket competition in UK keeps lid on Christmas dinner costs

Festive feast for four rises in price far below annual food inflation rate with sparkling wine and pudding cheaper than in 2022The cost of a traditional Christmas dinner for four has risen 1.3% this year to £31.71, as fierce competition between superma…

Festive feast for four rises in price far below annual food inflation rate with sparkling wine and pudding cheaper than in 2022

The cost of a traditional Christmas dinner for four has risen 1.3% this year to £31.71, as fierce competition between supermarkets offsets high inflation.

The increased cost of a festive family feast is far below the 9.1% rate of general grocery inflation tracked in November, which marks a further easing from 9.7% in October, according to research by Kantar.

Fierce supermarket competition in UK keeps lid on Christmas dinner costs

Festive feast for four rises in price far below annual food inflation rate with sparkling wine and pudding cheaper than in 2022

The cost of a traditional Christmas dinner for four has risen 1.3% this year to £31.71, as fierce competition between supermarkets offsets high inflation.