Bloomberg The decades-long era of cheap food in Britain may be coming to an abrupt end. With the UK wilting under the fastest inflation in three decades, supermarkets are raising prices at an even quicker rate, according to a new analysis prepared for Bloomberg. That’s turning the screws on shoppers who are already grappling with higher gas and heating bills ...

  Bloomberg The chief executive officer of Tesco Plc received 4.7 million pounds ($ 5.7 million) last year after he helped steer Britain’s biggest grocer and private sector employer through the Covid-19 pandemic. Most of Ken Murphy’s bumper package was driven by performance-related bonuses for helping Tesco manage severe staff shortages, panic-buying and major supply chain blockages as Covid infections ...

Bloomberg South Africa’s government has retained special voting rights in the country’s national carrier even after selling a majority stake, and will be given 3 billion rand ($186 million) in preference shares that can be redeemed through future cashflow. That means the state stands to benefit should new owner, the Takatso Consortium, revive a carrier that’s struggled under years of ...

Bloomberg Wanted: Hundreds of people to sit in a plane for 20 hours. Must be willing to pay lots of money. Claustrophobes needn’t apply. Conceived prior to the Covid crisis, Qantas Airways Ltd’s plan to operate the world’s longest nonstop commercial flights from southeast Australia to New York and London is being resurrected in a much-changed aviation landscape, with global ...

  Bloomberg A lawyer for American Airlines Group Inc urged a jury to award the carrier almost $300 million in overcharges and lost profits, arguing that Sabre Holdings Corp illegally dominated the market for booking airline tickets. “There’s one company in this travel business that doesn’t compete,” Paul Yetter told the jurors at the end of a three-week federal trial ...

  Bloomberg Shein, the Chinese fast fashion giant that’s quickly become the third-most valuable startup in the world, is seeing a reality check with sales growth slowing from the lofty heights of the pandemic, just as it faces mounting pressure to live up to a $100 billion valuation. The online-only retailer of inexpensive clothes, beauty and lifestyle products has become ...

Bloomberg Sweden’s potential Nato entry would lower the risk of a Russian attack, according to a policy report commissioned by parliament that fell short of directly endorsing membership in the defense alliance. The 43-page review concluded that joining the North Atlantic Treaty Organization (Nato) would act as a deterrent, stressing the importance of coordination with neighbouring Finland. Russia, which invaded ...

Bloomberg The UK ramped up its sanctions on Russia, targeting friends and family members it said were helping to prop up President Vladimir Putin’s “luxury lifestyle.” Individuals sanctioned include Putin’s former wife, Lyudmila Ocheretnaya, and Alina Kabaeva, a former gymnast and Chair of the Board of the National Media Group who is alleged to have a close relationship with the ...

Bloomberg The steady friendship between Hungary and Poland, who for years gave each other cover as they defied the European Union over the rule of law, has frozen over since Russia’s invasion of Ukraine. The rift risks weakening Hungarian Prime Minister Viktor Orban, the champion of “illiberal democracy” who has waged a bitter fight with EU leaders over a bloc-wide ...

  Bloomberg Sri Lanka’s new Prime Minister Ranil Wickremesinghe said he will show his majority in parliament next week but the task for President Gotabaya Rajapaksa’s appointee to form a government is looking fraught with the opposition and others saying they won’t take any cabinet roles. The main opposition Samagi Jana Balawegaya party has said it won’t join a so-called ...