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Sunday Newspaper Roundup: Food Prices, Asos, Labor Squeeze

By on November 21, 2021 0

Soaring fertilizer prices due to the gas crisis will prolong Food prices globally, which are already at their highest level in half a century, until 2023. BCA Research economists predict that global food prices will continue to rise over the next year and remain high until 2023. Additionally, supply chain analysts say supermarkets cannot isolate shoppers from increasing cost pressures indefinitely. – Sunday telegraph

Asos is postponing orders from its suppliers to approaching Christmas amid the current supply chain crisis. Two of those suppliers linked the delays to staff shortages in the Asos warehouse, while a third cited a lack of capacity. The company denied the claims, instead blaming them on a disruption in global freight, which meant suppliers were unable to deliver on time. Stocking 875,000 products, the online fashion retailer has been heavily exposed to supply chain disruptions. – Sunday hours

Rising public sector hires intensify competition for workers, leaving companies with a workforce squeeze as they try to find the staff they need over Christmas, the Governor of the Bank of England has said. This comes on top of the expected increase in demand from the hospitality industry in the coming weeks, even though the number of vacancies has already reached a record 1.17 million. – Sunday telegraph

Barclays faces legal action over information in its possession regarding the relationship between its former chief executive, Jes Staley, and convicted pedophile Jeffrey Epstein. U.S. prosecutors are looking for the lender for all correspondence he has between the two, including details of his own investigation. – Financial mail on Sunday

StanChart may have to go to court over allegations by investors that he made misleading statements about violations of US sanctions against Tehran. They claim she withheld information when she paid a fine of £ 415million in 2012. This penalty was calculated based on the fact that the bank’s ties to Iranian individuals and businesses took late in 2007, but it later emerged that she continued to have relationships with companies in that country. country long after. – Financial mail on Sunday

Johnson matthey intends to build a massive £ 50million hydrogen fuel cell plant to supply a new generation of vehicles. The plant, which would likely be built at its site in Royston, Hertfordshire, was to be co-financed with £ 12million from the Department for Business, Energy and Industrial Strategy. Earlier this month, the engineer shocked the market by announcing that he was withdrawing from the development of battery materials for electric cars, after finding that he would not be able to generate enough return on the billion dollars. pounds sterling of funds which had been set aside for this purpose. – Sunday hours

EU energy ministers seek public funds to help build gas pipeline to power plant partly owned by businessman awaiting trial for murder of journalist Daphne Caruana Galizia. Although officials and MEPs are set to start deciding on new rules aimed at phasing out EU subsidies for fossil fuel projects, it was learned on Friday that Malta and Cyprus had secured exemptions that would allow them to connect to European gas networks. – Guardian

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