Get ready for the $10 tube of toothpaste. Colgate-Palmolive Co CEO Noel Wallace said last week at an industry conference that the household goods maker sees its new Optic White Pro Series toothpaste as the type of premium product “vital” to its ability to raise prices, which will help drive profit growth this year. His…
$10 Toothpaste? US Household Goods Makers Face Blowback on Price Hikes
British Gas Profits Soar Despite Energy Sector Squeeze
British Gas’s retail unit has reported a big increase in profits despite a squeeze on the energy sector which has put many of its rivals out of business. Parent company Centrica said British Gas Energy has seen a 44 percent jump in adjusted operating profit, which reached £118 million in 2021. The business said it…
Oil Falls as Russia, Ukraine Supply Fears Wane
LONDON—Oil prices fell on Wednesday, retreating from seven-year highs hit the previous day as it became clear that the first wave of U.S. and European sanctions on Russia was unlikely to disrupt oil supplies. Brent crude was down 59 cents, or 0.6 percent, to $96.25 a barrel at 1027 GMT, after hitting $99.50 on Tuesday,…
German Producer Prices Soar as Bundesbank, BDI Warn on Economy
BERLIN—German producer prices rose in January at their fastest rate since modern records began, soaring 25 percent and extending a run of sharp increases likely to keep businesses under financial stress and consumer inflation high. Monday’s Federal Statistics Office showed most of the rise was due to spiralling energy costs, which the BDI industry association…
Oil Rises as Tight Market Looks to Russian-Western Diplomacy
LONDON—Oil prices rose slightly on Monday as fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from supply concerns that have kept oil prices near $100 a barrel. Brent crude futures rose 25 cents, or 0.3 percent, to $93.79 a barrel at 1000 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 35…
Oil Heads for Weekly Fall on Iranian Oil Hopes
LONDON—Oil prices extended losses on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. Brent crude futures fell $1.54, or 1.6 percent, to $91.43 a barrel by 1236 GMT, extending a 1.9 percent drop from the previous…
Oil Prices Recoup Losses as Russia-Ukraine Tensions Stay High
LONDON—Oil prices recouped losses on Wednesday as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine amid tight global supplies and recovering fuel demand. Brent crude was up $1.37, or 1.5 percent, at $94.65 a barrel around 1200 GMT, having slid 3.3 percent overnight after Russia announced a partial…
Inflation Speeds Up Again in January, Vaulting to Fresh 40-year High
Inflation in the United States picked up its pace once again, accelerating to an annual 7.5 percent in January, the highest rate in 40 years and above analysts’ expectations, according to data released by the Bureau of Labor Statistics (BLS). January’s acceleration in the Consumer Price Index (CPI), which reflects inflation from the perspective of end…
Tyson Foods Reports Forecast-Beating Profits, Helped Along by Higher Consumer Prices
Meat processing giant Tyson Foods saw its shares surge by nearly 12 percent on opening bell Monday after the company reported forecast-beating fiscal first-quarter profits, boosted by higher consumer prices amid the broader inflationary environment. Tyson Foods, the biggest U.S. producer of processed chicken and beef, reported net income of $1.126 billion in the company’s…
From Kisses to Kleenex, Consumer-Product Makers Plot Additional US Price Hikes
From Hershey to Clorox and Kleenex maker Kimberly-Clark, major consumer-products companies have announced plans to boost U.S. prices further or more broadly than previously proposed this year, signaling that the fastest inflation rate in a generation may not ebb soon. Product makers generally hold conversations with U.S. retailers at year-end about price hikes planned for…
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