Nestle chairman Paul Bulcke to step down in April next year
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Reuters
29 minutes ago
- Reuters
Japan's wholesale inflation slows for 4th month in July
TOKYO, Aug 13 (Reuters) - Japan's annual wholesale inflation slowed for the fourth straight month in July, data showed on Wednesday, underscoring the central bank's view that upward price pressure from raw material costs will dissipate. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 2.6% in July from a year earlier, data showed, slowing from the previous month's 2.9% increase. It compared with a median market forecast for a 2.5% rise. The yen-based import price index fell 10.4% in July from a year earlier, following a revised 12.2% drop in June, the Bank of Japan (BOJ) data showed.
The Independent
an hour ago
- The Independent
Rachel Reeves making ‘even bigger mistakes' than Liz Truss, says Kemi Badenoch
Kemi Badenoch has said Rachel Reeves is making 'even bigger mistakes' than Liz Truss. The Tory leader hit out at the Chancellor and the Prime Minister for their economic decisions as she drew a critical comparison to her predecessor at the top of the Conservative Party. 'For all their mocking of Liz Truss, Keir Starmer and Rachel Reeves have not learnt the lessons of the mini-budget and are making even bigger mistakes,' Mrs Badenoch wrote in The Telegraph. 'They continue to borrow more and more, unable and unwilling to make the spending cuts needed to balance the books.' Short-lived Conservative prime minister Ms Truss's mini-budget spooked the financial markets in 2022 and led to a spike in mortgage rates. 'As we all saw in 2022, the Chancellor and the Prime Minister are reliant on the bond markets,' Mrs Badenoch added. 'Yet those bond markets are increasingly jittery about the levels of borrowing today with no balancing spending decreases. 'Rachel Reeves's unfunded series of U-turns have only added to the pressure. She is boxed in by her party on one side, and her fiscal rules on the other.' The Chancellor earlier admitted Labour had 'disappointed' people while in Government, but said that the Government had got the balance right between tax, spending and borrowing. She told an audience at the Edinburgh Fringe Festival that balancing the books meant making tough decisions, even if the are unpopular. Appearing on the Iain Dale All Talk Fringe show, she said: 'The reason people voted Labour at the last election is they want to change and they were unhappy with the way that the country was being governed. 'They know that we inherited a mess. They know it's not easy to put it right, but people are impatient for change. 'I'm impatient for change as well, but I've also got the job of making sure the sums always add up – and it doesn't always make you popular because you can't do anything you might want to do. You certainly can't do everything straight away, all at once.' Ms Reeves pointed to Labour's £200 million investment in carbon capture in the north-east of Scotland, which she said was welcomed by the industry. At the same time, Labour's windfall tax, she said, was not liked by the sector. 'I can understand that that's extra tax that the oil and gas sector are paying, but you can't really have one without the other,' she said. Defending Labour's record, she said her party had the 'balance about right'. 'But of course you're going to disappoint people,' she added. 'No-one wants to pay more taxes. 'Everyone wants more money than public spending – and borrowing is not a free option, because you've got to pay for it. 'I think people know those sort of constraints, but no-one really likes them and I'm the one, I guess, that has to sort the sums up.' Ms Reeves said Labour had to deliver on its general election campaign of change, adding that her party did not 'deserve' to win the next election if it does not deliver the change it promised.
Daily Mail
an hour ago
- Daily Mail
Mikel Arteta lands surprise new role alongside Arsenal position
Arsenal boss Mikel Arteta has vowed to help 'disrupt the game at the top level' after landing a surprise new role with a sportswear company. Arteta has been appointed global ambassador and direct of performance at Under Armour, with the Spaniard to work in the position alongside his role at the Gunners. The company said Arteta, 43, would provide guidance on product development, talent identification and leadership. He will also 'bring elite leadership, tactical insight and a relentless drive for performance to the brand's global vision', they said. 'The collaboration with Under Armour is the perfect opportunity for me to work with a partner committed to making young athletes better,' Arteta said. 'I'm passionate about providing a platform for the next generation of players coming through in football and the top level of talent already signed with the brand show that they are too. 'We share the same mentality in always striving for more by finding new ways to innovate and disrupt the game at the top level. Our values in pursuing greatness are closely aligned and together, I'm confident we're going to achieve great things in football.' The announcement comes just days ahead of the new Premier League season. Arteta's side will aim to go one better than their second place in the previous three campaigns. They begin the 2025-26 season with a visit to Old Trafford to take on Manchester United on Sunday. Arsenal have splurged £208million on revamping Arteta's squad, including the £64m signing of highly-rated striker Viktor Gyokeres.
