Key TakeawaysGeopolitical tensions escalated as Russia reported downing 75 Ukrainian drones overnight, highlighting ongoing conflict in the region.China has committed to purchasing approximately 120,000 tons of US wheat across two cargoes for December delivery, signaling continued agricultural trade between the two economic powers.Argentine President Javier Milei has reportedly rejected investor calls to allow the peso to float freely, indicating a continued managed currency approach despite market pressure ...

Temperature-controlled warehouse operator Lineage Inc. said high food prices are impacting the amount of inventory customers are holding. While it expects occupancy to improve in the fourth quarter, it lowered its full-year outlook due to continued trade uncertainty. Lineage (NASDAQ: LINE) reported a net loss of $112 million for the third quarter on Wednesday before the market opened. Adjusted funds from operations (AFFO), which excludes depreciation, acquisition and restructuring costs (among other items ...

Core Viewpoint - Several of the UK's largest supermarket operators are requesting an exemption from a proposed business rates surtax, arguing that it would increase costs and potentially lead to higher food prices for consumers [1][2]. Group 1: Request for Exemption - Major supermarket chains including Aldi, Asda, Lidl, Morrisons, Marks & Spencer, Sainsbury's, and Tesco have signed a letter to Chancellor Rachel Reeves seeking exemption from the surtax on properties valued above £500,000 ($666,220) [1][2]. - The letter emphasizes that including supermarkets in the surtax would add to the sector's costs, risking higher prices for households and challenging their ability to deliver value [2][3]. Group 2: Impact on Food Prices and Retail Sector - The signatories highlight that large retail premises, while a small proportion of all stores, account for a third of the total business rates bill in the retail sector, indicating that further tax increases could exacerbate food inflation [2][4]. - The British Retail Consortium (BRC) argues that addressing the retail sector's tax burden would demonstrate government support for the industry and commitment to tackling food inflation [3][4]. Group 3: Employment and Economic Contribution - The BRC CEO noted that large retail stores sustain nearly one million jobs in the UK and contribute significantly to the retail sector's business rates, despite being a small fraction of total stores [4]. - The letter suggests that exempting supermarkets from the surtax would not only help mitigate food inflation but also support jobs and investment across the country [4][5].

Food inflation is notably absent in today’s political debate in Britain, which is dominated by immigration. But many voters still say their top concern is the cost of living https://t.co/rzcGSR6iAJ ...

The Dutch competition watchdog has launched an investigation into the price of grocery products in the country’s supermarkets. In a statement, the Netherlands Authority for Consumers and Markets (ACM) said the probe was prompted by claims the prices of “certain food products” are higher than in unspecified “neighbouring countries”. Dutch food industry association FNLI said it “welcomed” the move to examine whether there are “bottlenecks” in the market. The investigation will look at “the price breakdo ...

Food inflation cooled for a second month in the UK in a report that shows shoppers continued to favor supermarkets’ premium own-brand products https://t.co/ffxbG64ABC ...

US and UK to sign nuclear agreement as Trump visits Britain, food inflation set to rise and we speak to M&S' head of womenswear design -- get briefed ahead of your morning calls with The London Rush https://t.co/bk1UT8GyIf ...

Eggs were the poster child for food inflation last winter. Burgers could be next. https://t.co/81fGudZYKt ...

Sainsbury’s sales rose more than expected in what it called a positive start to the year, as food inflation accelerates across the UK https://t.co/CTOj9RWFNH ...