Business

East Europe’s next inflation problem: wages racing with prices

With prices surging, 24-year-old Noemi Turi presented her employer in Budapest with a pay request 16% above what she considered acceptable just a few months ago as double-digit inflation across East Europe fuels wage demands. The small business, where the Hungarian university student works as a social media manager and copywriter, granted her nearly the […]

Business

S.Korea truckers’ win no harbinger of labour market peace

South Korea’s unionised truckers drove a strong bargain with their largely peaceful strike action proving effective without antagonising a public largely unsympathetic towards unions after years of militant action. But the group of ageing drivers are often seen as outliers in the country’s combative and politicised industrial landscape and their success may not be a […]

Business

BP buys into Australian wind, solar, hydrogen mega-project

BP plc (BP.L) has agreed to buy a 40.5% stake and become operator of an Australian renewable energy project that could become one of the world’s biggest producers of green hydrogen, the global oil major said, without disclosing how much it paid. The Asian Renewable Energy Hub (AREH) in outback Western Australia would develop up […]

Business

Drivers shrug off soaring fuel prices, for now

Drivers around the world are tolerating record-high prices for road fuels, as mobility wins out for now over other spending in squeezed household budgets, data showed. The high prices have not yet breached the pain threshold for drivers in major demand centres. But that might change once U.S. drivers have to pay more than $6 […]

Business

Netflix plans ‘Squid Game’ reality show with big cash prize, no fatal consequences

Netflix Inc’s (NFLX.O) most-watched series is no longer just a fictitious television show after the streaming service greenlit “its biggest reality competition ever” called “Squid Game: The Challenge.” Unlike the series where the stakes are life or death, the worst possible fate in this 456 player competition will be leaving without the $4.56 million winnings, […]

Business

A half or three quarters?

A look at the day ahead in markets from Sujata Rao The bond selloff triggered by last week’s May consumer inflation print got fresh legs on Tuesday when U.S. factory gate inflation or PPI was revealed to have increased by 10.8% last month; higher gasoline prices comprised 40% of the rise in goods costs. Given […]

Business

Harry Potter publisher hands out meaty dividend after bumper profits

Bloomsbury Publishing Plc (BLPU.L) on Wednesday reported a 40% jump in annual profit and raised its final dividend payout by about a quarter, buoyed by a reading boom which stayed even after the pandemic lockdowns. The London-listed publisher, best known for picking up J.K. Rowling’s Potter series in 1997 after its rejection by a dozen […]