Why are food prices going up? Key questions answered

FILE PHOTO: Soup kitchens on the outskirts of Lima struggle with inflation

CHICAGO (Reuters) – Why are food prices rising? Global food prices started to rise in mid-2020 when businesses shut down due to the COVID-19 pandemic, straining supply chains.¬†Farmers dumped out milk and let fruits and vegetables rot due to a lack of available truckers to transport goods to supermarkets, where prices spiked as consumers stockpiled… Continue reading Why are food prices going up? Key questions answered

Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei

FILE PHOTO: Man walks past a logo of Alibaba Group at its office building in Beijing

(Reuters) – Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday. The Chinese e-commerce giant could not be immediately reached for comment. Citing an employee with knowledge of the matter, the report said it was… Continue reading Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei

How much Fed must do depends on supply outlook: Kashkari

FILE PHOTO: President of the Federal Reserve Bank of Minneapolis Neel Kashkari speaks during an interview in New York

By Ann Saphir (Reuters) -The Federal Reserve will do what it needs to do to bring down very high inflation, Minneapolis Fed President Neel Kashkari said on Friday, though how much it will need to do depends in part on how quickly energy and other supply constraints dissipate. “I’m confident that my colleagues and I… Continue reading How much Fed must do depends on supply outlook: Kashkari