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United Kingdom. Supermarkets with empty shelves

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United Kingdom.  Supermarkets with empty shelves


The situation is not new – it already happened in August – but now it seems to be escalating as the holiday season approaches, with thousands of Britons leaving supermarket shelves empty to find storage space for Christmas.

Earlier this week, according to international media reports, the British were already panicking buying turkeys and frozen poultry sales were up more than 400%. What’s more, the latest figures from the Office for National Statistics (ONS) show that up to eight million Britons were unable to buy staple foods between September 22 and October 3.

Added to this data is a recent poll conducted by The Grocer, which shows that a third of people have already started shopping for Christmas food and drinks or plan to do so by the end of October. Two-thirds of Britons say they are still worried about the holiday deficit.

But this concern is not new. In September, oi spoke to Portuguese living in the UK who had already raised this concern and explained the scenario. “They also say it could affect Christmas stocks, and some people have already started buying turkeys to freeze for Christmas,” said Rita Ferreira, a Portuguese resident in Ealing, northwest of London at the time.

Brexit or pandemic issues? “This was primarily due to Brexit, but with the pandemic and restrictions, many European citizens who held these positions decided to permanently leave the country and return to their families,” says Rita Ferreira. “There is a sore shortage of truck drivers right now, but this is having a huge impact on other sectors such as agricultural workers and food businesses,” he explained.

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The shortage of workers in the UK is more justified by Brexit than by the pandemic. This is because emigrants were very important in this respect. “The UK has been known for many years for accepting immigrants from all over the world. However, nowadays the entry of new emigrants is proving to be limited and rather bureaucratic, ”explained Enrique Tome, an analyst at XTB i in September. However, there is no doubt that the pandemic is also the cause of the current situation.

Paulo Rosa, senior economist at Banco Carregosa, argued that “in terms of migration flows, the current labor shortage in the UK is the result of a combination of Covid and Brexit,” noting that “labor shortages are not only a problem. The Brexit effect, but it is a fact that the UK’s exit from the European single market also contributed to this deficit. ”

And he warns: “Some industries need to realize that times when there was more workforce may end and employers will have to pay more to keep staff on track. Higher wages could lead to an unwanted rise in inflation. ” It is clear to the economist that “Brexit has caused problems in areas such as transportation, hotels and construction, and British employers are grappling with the worst staff shortages in 25 years.”

In fact, labor shortages are a problem that leads to another obstacle: fuel delivery. Remember that fuel distribution was recently affected and panic forced consumers to prime their pumps. This problem seems to have already been removed.

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Economy

Bitcoin Down 87% On Binance US Platform – Executive Digest

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Bitcoin Down 87% On Binance US Platform - Executive Digest

An algorithm flaw on the Binance platform caused users in the US to see a false 87% drop in Bitcoin this Thursday morning to $ 8,200.

The transaction volume for that minute was 592.8 bitcoins, which is only $ 40 million at current price.

The Exchange immediately fixed the bug.

“One of our institutional partners explained to us that there is a bug in the algorithm. We are investigating what happened. The situation has been resolved, “says an email sent by Binance USA.

This is not the first time a crypto-asset platform has encountered this kind of error.

Earlier this month, DeFi’s platform, Synthetify, was forced to shut down for a while shortly after its debut due to a “bug” in the Pyth Network, a pricing channel maintained by some of the world’s most famous trading companies.

Pyth already made the same mistake in September, showing a 90% drop in bitcoin share.

Also a month ago, decentralized financial platform DeversiFi saw $ 24 million “slipped out of his hands” after that amount was paid in the form of a $ 100,000 transaction fee in Ethereum.

Later, the exchange managed to recover 7,626 Ethereum units using a miner.

See also  Experts figure out how to postpone Ethereum's "difficulty bomb"
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Economy

Powell’s scandalous operation prompts Fed to ban high-level officials from buying and selling shares – markets

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Powell's scandalous operation prompts Fed to ban high-level officials from buying and selling shares - markets

“A robbed house, locks on the door.” THE The US Federal Reserve System (FRS) has decided to tighten rules for trading in capital markets by senior officials after it became known that the president of the institution, Jerome Powell reportedly sold the $ 5 million shares he held on a personal level last October, ahead of a Wall Street sell-off.

The new rules, announced this Thursday, will ban the purchase of certain securities, restrict active trading and require more frequent reporting and public disclosures, the Fed said.senior officials can only purchase diversified investment vehicles such as mutual funds, barring them from investing in stocks, individual and agency bonds, or derivatives.

“These tough new rules raise the bar to convince the public that our employees are focused only on the public mission of the Federal Reserve,” Jerome Powell said in a statement on the agency’s website.

Starting in the next few months, the Fed’s top management will have to give advance notice 45 days to buy and sell bonds, obtain prior approval and hold the investment for at least one year. In addition, movement during periods of heightened stress in the financial market is not permitted.

Jerome Powell reportedly sold between $ 1 million and $ 5 million in Vanguard Total Stock Market Index Fund on October 1, 2020. pandemic. In addition to this deal, there were other sales with no specific deadlines.

The Wall Street Journal reported that a Fed source indicated that the financial transaction was compliant with central bank regulations and was approved by the Office of Public Ethics.

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Economy

Diploma for limiting the fuel surcharge valid tomorrow

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Diploma for limiting the fuel surcharge valid tomorrow

NO documentstay decisive “The ability to set maximum marketing margins for simple fuels”, an initiative of the government, currently adopted by the Assembly of the Republic.

Thus, the diploma states: “regardless of the declaration of the energy crisis provided for in the previous numbers, for reasons of public interest and to ensure the normal functioning of the market and consumer protection, a margin may be established, in exceptional cases, in any commercial components that make up the retail the price of regular fuel or bottled LPG ”.

According to the law, which amends several decrees establishing general principles regarding the organization and operation of the National Petroleum System, the “maximum margin” can be “determined for any activity in the value chain of ordinary fuel or bottled LPG. set by the order of the members of the government responsible for the economy and energy, at the suggestion of the energy services regulator and after consultation with the anti-monopoly body. “

The diploma also specifies that “the maximum fields indicated in the previous numbers should be limited in time.”

In July, the government approved in the Council of Ministers (CM) a proposed law that would limit fuel sales margins by decree if it deems it too high “without justification,” according to the Minister of the Environment.

At a press conference, João Pedro Matos Fernández said that this diploma, which also applies to gas cylinders, will later be sent to the Assembly of the Republic, stressing that this measure will be “limited in time.”

The purpose of the law is to “give the government a tool to allow, when it is proven that the margin on the sale of fuel and gas cylinders is unusually high and unreasonable, this right, by decree, to limit the same margin,” the government official said. …

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“After approval [a proposta de lei]and the government, always listening to ERSE [Entidade Reguladora dos Serviços Energéticos] and the Competition Authority, by its decree, always for a limited period of time, which, I believe, is a month, two months, administratively sets the maximum margin for the sale of fuel, ”said João Matos Fernández.

The government official recalled that this markup “is also the sum of the markups associated with transportation, storage, wholesale and retail,” and these reference values ​​”continue to be calculated by ENSE on a daily basis.”

“As soon as this bill is approved, we will have this tool at our disposal,” he said, assuring that today “the state has no opportunity” to interfere in limiting prices for fuel and gas cylinders.

The initiative has been criticized by industry associations, which accuse the government of wanting to deflect attention from the weight of taxes on fuel prices.

Read also: Fuel and energy. Concerned parties are asking the government to take additional action.

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