
High Prices Hit a French Classic: Beef Bourguignon
At Le Bouillon Chartier in Paris, the recipe for a perfect beef Bourguignon involves beef, carrots, wine, butter and 'coquillettes,' a tiny macaroni-shaped pasta. It is cooked for at least three hours. And it must be affordable, so the price cannot be more than 10 euros a dish.
Since 1896, the belle epoque eatery has been Parisians' destination for cheap French fare. It's a boisterous canteen with meals that give energy for the day, where someone on a living wage can eat for less than what they earn in an hour.
But rarely in Bouillon Chartier's storied history has it been as hard to keep costs under control as it is today.
The elements that go into its beef Bourguignon, including electricity for the restaurant as well as wages for the bustling staff of servers and cooks, are 30 to 45 percent higher than they were five years ago, said Christophe Joulie, the restaurant's owner. And to maintain a steady price for Bouillon Chartier's best-selling dish (which costs around $10.80), he has cut into the margins of his family-run business up to 20 percent.
'The price of everything that went up essentially stayed up,' Mr. Joulie said one recent weekday at the eatery in Paris's Ninth Arrondissement, one of three Bouillon Chartier locations in the city. A line nearly two blocks long had formed by 11:30 a.m., when the doors swing open for the lunch crowd. 'But our fight is to always offer a decent meal at a decent price.'
The changes in price from five years ago
Pasta
+22%
Butter
+30%
Carrots
+20%
Beef
+16%
Carrots
+20%
Butter
+30%
Pasta
Beef
+22%
+16%
Carrots
Pasta
+20%
+22%
Butter
Beef
+30%
+16%
Source: Insee
Photograph by Dmitry Kostyukov for The New York Times
Want all of The Times? Subscribe.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Stocks to watch next week: Broadcom, Lululemon, British American Tobacco, Dr Martens and Rémy Cointreau
Tariffs remain in focus as earnings season continues to wind down, but there are still a number of key companies due to report in the coming week. On the back of a strong set of results from chipmaking giant Nvidia (NVDA), attention will now turn to rival Broadcom (AVGO), which is due to report on Thursday. Athletics wear company Lululemon (LULU) is also due to report on Thursday, with focus on its outlook for the current year, after guidance offered at the end of the last financial year failed to impress investors. In London, investors will want to see if British American Tobacco (BATS.L) has continued to generate sales growth from its new categories business, which includes vapes and heated products. Investors will also be keen to see how Dr Martens (DOCS.L) turnaround efforts are progressing when the iconic bootmaker reports its full-year results on Thursday. On the Paris bourse, Rémy Cointreau's ( full-year performance will be in focus, ahead of a new CEO taking the helm at the French spirits company later in June. Here's more on what to look out for: Shares in Nvidia (NVDA) jumped after it reported another blowout quarter on Wednesday, despite the company warning of the impact of export controls that limit its ability to ship products to China. The chipmaker posted revenue of $44.1bn (£32.7bn) for the first quarter, beating expectations of $43.3bn, though earnings per share of $0.81 came in below estimates of $0.93. Derren Nathan, head of equity analysis at Hargreaves Lansdown, said: "The first key takeaway from Nvidia's (NVDA) Q1 print was that demand for accelerated computing remains extremely strong due to the lightning speed roll out of AI. The second is that Nvidia remains the dominant force in this market." "However, with McKinsey predicting a spend of around $7tn to help data centres keep pace with processing demands out to 2030, the market is big enough to accommodate more than just one player," he added. "Broadcom's (AVGO) custom ASIC chips can help hyperscalers lower their average cost of data processing and as such it looks well set to grow its share of the market." Read more: What's behind the surge in AI-related lawsuits? Nathan said that consensus forecasts for Broadcom's (AVGO) second quarter revenue are broadly in line with the company's guidance of approximately $14.9bn, which works out to growth of around 19%. He highlighted that artificial intelligence (AI) is a "growing share of Broadcom's (AVGO) revenue base but there's still more sales coming from non-AI workloads leaving the company exposed to cyclical ups and downs, which is a risk in today's macroeconomic environment. And with 20% of revenue coming from China, markets will be keen to hear the potential impact of export restrictions and tariffs." Nathan added that estimates for Broadcom's (AVGO) third quarter revenue have been falling slightly over the last month and currently stand at $15.8bn. "But with so many moving parts to the picture the company's steer will be a key metric to focus on," he said. Broadcom (AVGO) shares popped after the company posted first quarter results in March that beat on the top and bottom lines, driven by AI chip sales. Adjusted net revenue came in at $14.92bn, versus expectations of $14.61bn, while adjusted earnings per share of $1.60 were ahead of estimates of $1.50. However, fluctuations in the stock since then have left it up just 4.4% year-to-date. Shares in Lululemon (LULU) sunk after its earnings outlook appeared to underwhelm investors, despite the company posting better-than-expected quarterly profits in March. The athletics wear retailer said it expected earnings per share for this year to be in the range of $14.95 to $15.15, which was below expectations of $15.37. On revenue, the company said it expected this to be in the range of $11.15bn to $11.3bn. In addition, Lululemon (LULU) chief financial officer (CFO) told investors on an earnings call that the company was not expecting store traffic to improve this year versus softness out of the gate in the first quarter. Read more: Stocks that are trending today In a note on 12 May, Barclays analysts – which had an "equal weight" rating on Lululemon (LULU) – said they were "cautious" on the stock. They highlighted that the retailer's "We Made Too Much" online clearance section "showed an increase towards the end of the quarter". "During 1Q25, the WMTM category negatively inflected in the final few weeks of the quarter," they said. They said this suggested "potential for weaker exiting trends and building inventory risk". For the first quarter, Lululemon (LULU) said it expected net revenue to come in between $2.34bn and $2.36bn, which would represent growth of 6% to 7%. Diluted earnings per share are expected to be in the range of $2.53 to $2.58 for the quarter. On Wednesday, British American Tobacco (BATS.L) announced that it had sold a 2.5% stake in Indian consumer goods company ITC ( which was worth $1.5bn, according to a Reuters report. The company said that the transaction would give it "greater financial flexibility as it delivers on its commitment to invest behind transformation, deleverage and enhance shareholder returns." The tobacco giant also said that the net proceeds from the trade would be used to extend its existing share buyback programme by an additional £200m ($269.5m), taking the total amount it repurchases in 2025 to £1.1bn. That was up on £900m BAT (BATS.L) said it planned to undertake in buybacks this year back in its preliminary results release in February. Shares tumbled after the release of those results, in which the company flagged £6.2bn ($7.7bn) hit, from a proposed settlement of a long-running lawsuit in Canada. With this provision, the company posted reported profit from operations for the year of £2.74bn. Read more: Government 'megafund' pension plans could give £6k boost to savers BAT (BATS.L) posted a 5.2% decline in reported revenue for the year at £25.9bn, driven by the sale of its businesses in Russia and Belarus in September 2023 and transnational foreign exchange headwinds. However, the company saw 8.9% organic growth from revenue in its new categories business at £3.4bn. Nathan, of Hargreaves Lansdown, said that the company "heads into its upcoming [first-half] trading update with investor attention firmly on its ability to navigate persistent industry headwinds". "Regulatory pressures and rising tobacco taxes continue to weigh on the outlook," he said. "As such, this year's guidance for around 1% sales growth and 1.5–2.5% profit growth currently stands below the group's medium-term targets. The upcoming update will be closely watched for signs that 'new categories' can deliver more meaningful growth and help offset the structural decline in traditional tobacco." In addition, Nathan said that investors "will be watching closely to see if US action to crackdown on illegal competition has had any impact and whether the lifting of a proposed ban on menthol cigarettes has helped the outlook". According to consensus forecasts provided by the company on its website, analysts expect full-year total revenue for 2025 to come in at £26.2bn, including £3.88bn from new category business. Shortly after taking over as Dr Martens (DOCS.L) CEO in January, Ije Nwokorie said in a third quarter trading update that the bootmaker had made "good progress" on turning round performance in the US. He said that the team were focused on "returning the business to sustainable and profitable growth". In the third quarter, Dr Martens (DOCS.L) reported 3% growth in group revenue at £267m, with a 4% increase in direct-to-consumer business in the Americas. "Dr Martens (DOCS.L) is expected to deliver more evidence that it is pulling itself up by its bootstraps and the turnaround is lacing together," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. "It's been reducing inventories and debt, preserving cash and stabilising the business overall." Stocks: Create your watchlist and portfolio "The iconic footwear company has found it hard going stomping new fashion ground overseas, with the US, its biggest market, proving particularly tough," she said. "But in the key autumn/winter season, there were signs that increased investment in marketing was paying off, with new styles winning fans. It's trying to get the heritage models and new innovations in the fashion market." Streeter said that the "performance of the last quarter will be a test" for new CEO Nwokorie. She said that the company's "strategy includes new store roll outs and increasing the direct-to-consumer mix, as well as improving the quality and depth of wholesale distribution. "It's hoped that the Docs will also take a step forward with the appointment of a new chief brand officer, Carla Murphy, a former Adidas ( global executive who also has experience at VF Corporation, the American global apparel and footwear company." In its January trading update, company didn't offer specifics on its guidance for the full year but said its outlook remained unchanged and that it was on track to achieve its objectives. Despite signs of turnaround progress, the stock is still down nearly 19% year-to-date. French cognac maker Rémy Cointreau ( announced on Wednesday that it had appointed Franck Marilly as the company's new CEO, taking over from Eric Vallat, who said last month he would be stepping down. Marilly, who assumes the role on 25 June, has previously worked for Japanese beauty brand Shiseido (4911.T), luxury fashion house Chanel and consumer goods giant Unilever (ULVR.L). The news comes as Rémy Cointreau ( navigates challenges around trade tensions with both the US and China, two of its key markets. In a fourth quarter sales update in April, Rémy Cointreau ( posted an 18% fall in full-year sales at €984.6m (£827.6m). The company flagged a "steep decline" in sales of cognac in China in the fourth quarter, which it said was partly down to "harsh market conditions", among other factors. Read more: UK 'bargain' stocks that have outperformed the market long-term In January, China launched an anti-dumping investigation on brandy imported from the European Union (EU), which was extended in April and included the imposing of temporary duties on imports of brandy. The probe was considered to be in response to EU duties on Chinese electric vehicles. Rémy Cointreau ( said in its April sales update that if the provisional duties were confirmed, the company would "trigger its action plan to mitigate the effects starting in fiscal 2025-26. The impact on fiscal year 2024-25 is marginal." In addition, there is also uncertainty around US tariffs on the EU, with talks between the two ongoing, after president Donald Trump hit pause on his threat to impose 50% duties on the bloc. Investors will be looking at Rémy Cointreau's ( final full-year results on Wednesday for any commentary around the potential impact of these tariff challenges in the year ahead. The company said in April that a €50m (£42m) cost-cutting plan would help protect its operating margin, expecting this to come in between 21% and 22% for the year. It also reiterated its financial targets for 2029-30 of hitting a gross margin of 72% and an operating margin of 33%. Monday 2 June Sirius Real Estate (SRE.L) Campbell's Co (CPB) Tuesday 3 June Chemring (CHG.L) Pennon (PNN.L) Gooch & Housego (GHH.L) Crowdstrike Holdings Inc (CRWD) Ferguson Enterprises Inc (FERG) Dollar General Corp (DG) Hewlett Packard Enterprise (HPE) Nio Inc (NIO) Signet Jewelers (SIG) Wednesday 4 June Paragon Banking (PAG.L) B&M European Value Retail (BME.L) DiscoverIE (DSCV.L) Ramsdens (RFX.L) Dollar Tree Inc (DLTR) GameStop (GME) Thursday 5 June Mitie (MTO.L) Workspace (WKP.L) Young's & Co Brewery (YNGN.L) Fevertree (FEVR.L) Fastenal (FAST) DocuSign (DOCU) Brown-Forman (BF-B) Ciena (CIEN) Wizz Air Holdings (WIZZ.L) CMC Markets (CMCX.L) Friday 6 June ABM Industries Inc (ABM) Caffyns (CFYN.L) You can read Yahoo Finance's full calendar here. Read more: How getting ahead on your tax return can help cut your tax bill Odds of more Bank of England interest rate cuts fall as food inflation rises Trump tariffs to hit UK economy next year, says IMF
Yahoo
30 minutes ago
- Yahoo
Macron urges Asia, Europe to unite to resist 'spheres of coercion'
French President Emmanuel Macron on Friday urged Europe and Asia to build a new alliance to hold off big powers seeking to build "spheres of coercion", in a swipe at China and Russia. Macron was speaking at the Shangri-La Dialogue in Singapore, Asia's major annual defence and security conference, as Russia defies diplomatic pressure for a ceasefire in Ukraine and capitals fret about Beijing's growing assertiveness on Taiwan and the South China Sea. Macron urged the international community to unite in the face of countries seeking to grab territory and resources. "We have a challenge of revisionist countries that want to impose -- under the name of spheres of influence -- spheres of coercion," Macron said. "Countries that want to control areas from the fringes of Europe to the archipelagos in the South China Sea... that want to appropriate resources, whether fishing or mineral and crowd out others for their benefit." Defence chiefs and officials from around the world are attending the annual forum that has in recent years become a barometer of US-China relations. US Secretary of Defense Pete Hegseth will address the conference on Saturday after President Donald Trump fired a fresh salvo in his tariff battle with Beijing, which has roiled global money markets. But unusually, China has not sent its defence minister to Shangri-La, and will instead be represented by a senior officer from its People's Liberation Army's National Defence University. Since 2019 Beijing has regularly sent its defence minister to the Shangri-La meet, occasions that offered rare opportunities to hold face-to-face talks with US counterparts. - 'Build a new alliance' - Macron's speech came at the end of a tour of Vietnam, Indonesia and Singapore, which he used to present France as a reliable alternative for a region caught between Washington and Beijing. Asian countries have found themselves torn between Washington's tariff threats on one hand and Beijing, a major trading partner that has become increasingly forthright in territorial disputes in the South China Sea. Tensions between Washington and Beijing have ramped up since Trump returned to office in January, off the back of an escalating trade standoff, intensified technological rivalry, and strategic military posturing. Macron urged leaders at the conference to "build a positive new alliance between Europe and Asia, based on our common norms, on our common principles". "Our shared responsibility is to ensure with others that our countries are not collateral victims of the imbalances linked to the choices made by the superpowers," he said. Macron urged China to stop its ally North Korea from sending forces to help Russia's war in Ukraine if Beijing "doesn't want NATO being involved in Southeast Asia or in Asia". He warned Asian leaders against seeing the war in Ukraine as a distant problem with no relevance to them. "If we consider that Russia could be allowed to take a part of the territory of Ukraine without any restriction, without any constraint, without any reaction of the global order, how would you phrase what could happen in Taiwan?" he said. "What would you do the day something happens in the Philippines?" - 'Kill our credibility' - Macron also weighed in on the war in Gaza, warning that abandoning the shattered Palestinian enclave would kill the West's credibility with the rest of the world. "If we abandon Gaza, if we consider there is a free pass for Israel, even if we do condemn the terrorist attacks, we will kill our credibility," he said. His comments came as Israel accused him of undertaking a "crusade against the Jewish state" after he called for European countries to harden their stance on Israel if the humanitarian situation in Gaza did not improve. Beyond the conflicts in Gaza and Ukraine, the recent clashes between India and Pakistan will lurk in the shadows of the conference, which runs until Sunday. An April 22 attack on tourists in Indian-administered Kashmir triggered some of the worst cross-border clashes between the nuclear-armed neighbours in years, with at least 70 people killed. Muslim-majority Kashmir is claimed in full by both countries, which have fought multiple wars over the Himalayan territory since their 1947 independence from Britain. New Delhi accused Pakistan of backing the attack, a charge Islamabad denies. Neither side has sent their defence ministers, instead dispatching senior military delegations. No meeting between the two sides has been announced. fff-tym/pdw/tc
Yahoo
31 minutes ago
- Yahoo
Regeneron shares slide on mixed trial data for smoker's lung drug
By Sriparna Roy (Reuters) -Regeneron shares fell nearly 18% on Friday after its experimental drug for patients with a type of lung condition commonly called "smoker's lung" failed a late-stage trial, although it succeeded in another. Regeneron and partner Sanofi were studying the drug, which some analysts expect could bring in peak sales of as much as $5 billion, for treating chronic obstructive pulmonary disease (COPD). Investors had pinned their hopes on the drug, itepekimab, which targets a broader population, to potentially drive growth beyond Regeneron and Sanofi's blockbuster Dupixent, which is also approved for the condition, as its patent expiry looms. "Today's update likely represents a 2-3 year delay to market," said J.P. Morgan analyst Chris Schott for Regeneron's itepekimab. The drug showed a significant reduction in exacerbations or flare-ups in the condition by 27% compared to placebo at 52 weeks in a 1,127-patient study. But the second study - which had enrolled fewer former smokers compared to the first - did not meet its goal, although a benefit was seen earlier in the trial. "Given the mixed results, the regulatory path is murky," said HSBC analyst Rajesh Kumar. At least four analysts said the companies may need to conduct additional studies for a potential approval for the drug. Shares of Regeneron, which have already fallen 15% this year, were down at $497.01, while U.S.-listed shares of French drugmaker Sanofi fell more than 7% to $48.65 in morning trading. Regeneron's price-to-earnings ratio, a common benchmark for valuing stocks, was 16.15, compared with 13.62 for Gilead and 7.29 for Bristol Myers Squibb. Itepekimab binds to and inhibits interleukin-33, a type of protein that causes inflammation in COPD. The common lung disease causes restricted airflow and breathing problems. It typically affects smokers, but can also be caused by pollutants. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data