Soaring oil prices and inflation in emerging economies pose new risks to global recovery but are not yet strong enough to derail it, the International Monetary Fund said on Monday. Get the full story »
Inside these posts: Commodities prices
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Nestle says it will hold price hikes to 1.6%
Nestle AG , the world’s biggest foodmaker, expects to raise prices by 1.6 percent in 2011, the company chairman said Tuesday, similar to last year’s increase despite soaring raw material costs.
Peter Brabeck-Letmathe told Reuters Insider that the company, which makes Nescafe coffee and Gerber baby food, would spend an extra $3.5 billion on raw materials in 2011, with more than half of that would be absorbed internally. Get the full story »
Analysts see no relief from food price increases
A rising tide of global forces is supporting the surge in prices for important food staples such as meat, dairy and grains, commodity experts said at the Reuters Global Food and Agriculture Summit on Tuesday.
“This is a pretty sustainable increase. … A number of factors have been building over time in terms of the commodity increase: world economic growth, rising crude oil prices, increased Chinese import demand all have conspired,” said Bill Lapp, president of Advanced Economic Solutions, a commodity analytical firm based in Omaha, Neb. Get the full story »
Sara Lee plans more price increases
Sara Lee Corp. will raise overall prices in the high single-digit percentages this fiscal year, with increases on everything from Jimmy Dean sausage to frozen pies, an executive said at the Reuters Global Food and Agriculture Summit Monday. Get the full story »
Gold falls back to $1,400 as equity markets drop
Gold fell back toward $1,400 an ounce on Tuesday, breaking a six-session rally, as turmoil in Libya prompted bullion investors to take profits and as sharp losses in equities and other commodities markets prompted margin selling. Get the full story »
Starbucks beats Street, warns that won’t continue
Starbucks Corp., the world’s largest coffee chain, expects rising coffee prices to hit profits more than it previously thought and forecast full-year earnings below analysts expectations.
That news sent its shares down more than 2 percent, even as the company reported profits and U.S. sales that handily topped Wall Street’s targets. Get the full story »
