Many countries battling the cost of living crisis. But in India, people are spending big. The festive season is here, and analysts are predicting a big boom in online & offline sales.

South Asia Diary | Festive Spending Booms in India

London is witnessing huge protests against rising energy bills and the cost of living despite the promises of the new UK government. The prices refuse to come down and the anger is now boiling.

UK: Londoners rally against the cost of living crisis, block roads and bridges

The EU wastes more food than it imports and could stop the rise in food prices by merely reducing on-farm waste, as per a report.

According to the study's estimations, the EU fritters away some 153 million tonnes of food annually, which is double earlier projections and 15 million tonnes more than is imported.&nbsp;

According to the report, the amount of wheat wasted in the EU alone is equivalent to one-fourth of the EU's other grain exports and almost half of Ukraine's wheat exports.

"It's a scandal that the EU is potentially throwing away more food than it is importing at a time of high food prices and a cost of living crisis," said Frank Mechielsen, director of Feedback EU, the organisation that conducted the study. In order to combat climate change and enhance food security, the EU now has a significant chance to adopt legally enforceable goals to reduce its food waste from farm to fork by half by 2030.&nbsp;

According to the UN Food and Agriculture Organization (FAO), the war in Ukraine contributed to the increase in global food prices last month, which were per cent higher than they were a year earlier.&nbsp;

Prices for wheat, maize, and soybeans have even surpassed peaks established at the height of the global financial crisis in 2008.

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/indian-fantasy-gaming-platform-sues-google-to-stop-new-gaming-policy-calls-it-discriminatory-518065">Indian 'fantasy' gaming platform sues Google to stop new gaming policy, calls it discriminatory</a>

The world's first set of legally enforced goals to reduce food waste is scheduled to be presented by Brussels later this year. Feedback EU's request for a 50% reduction in waste by 2030 has the support of 43 green non-profits.&nbsp;

Senior policy officer for the European Environmental Bureau (EEB), Piotr Barczak, stated,&nbsp;“All EU countries had committed to halve food waste within the United Nations’ sustainable development goals. However, almost 10 years later, they have not achieved much, and our economies still generate incredibly high amounts of food waste.”&nbsp;

The EEB calls for enacting laws to reduce waste throughout the entire food supply chain, including in food production, processing, and services.

(with inputs from agencies) 
&nbsp;

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The EU wastes more food than it imports and could stop the rise in food prices by merely reducing on-farm waste, as per a report. According to the study's estimations, the EU fritters away some 153 million tonnes of food annually, which is double earlier projections and 15 million tonnes more than is imported.

The EU wastes more food than it imports and could stop the rise in food prices by merely reducing on-farm waste, as per a report. According to the study's estimations, the EU fritters away some 153 million tonnes of food annually, which is double earlier projections and 15 million tonnes more than is imported. According to the report, the amount of wheat wasted in the EU alone is equivalent to one-fourth of the EU's other grain exports and almost half of Ukraine's wheat exports. "It's a scandal that the EU is potentially throwing away more food than it is importing at a time of high food prices and a cost of living crisis," said Frank Mechielsen, director of Feedback EU, the organisation that conducted the study. In order to combat climate change and enhance food security, the EU now has a significant chance to adopt legally enforceable goals to reduce its food waste from farm to fork by half by 2030. According to the UN Food and Agriculture Organization (FAO), the war in Ukraine contributed to the increase in global food prices last month, which were per cent higher than they were a year earlier. Prices for wheat, maize, and soybeans have even surpassed peaks established at the height of the global financial crisis in 2008. Also Read: Indian 'fantasy' gaming platform sues Google to stop new gaming policy, calls it discriminatory The world's first set of legally enforced goals to reduce food waste is scheduled to be presented by Brussels later this year. Feedback EU's request for a 50% reduction in waste by 2030 has the support of 43 green non-profits. Senior policy officer for the European Environmental Bureau (EEB), Piotr Barczak, stated, “All EU countries had committed to halve food waste within the United Nations’ sustainable development goals. However, almost 10 years later, they have not achieved much, and our economies still generate incredibly high amounts of food waste.” The EEB calls for enacting laws to reduce waste throughout the entire food supply chain, including in food production, processing, and services. (with inputs from agencies)

EU wastes much more food than it imports, even amid cost of living crisis: Report

The cost of living is ranked by most voters globally as a more important issue than liberating Ukraine from Russian occupation, but there is still strong support for a Russian military withdrawal, according to a survey showing global preoccupations.

The polling was conducted by Datapraxis and YouGov by the Open Society Foundations, a group funded by the businessman and philanthropist George Soros, and has been released ahead of the UN general assembly later this month in New York.

Majorities in 16 of the 22 largest countries believe Russia should leave the territory it has occupied in Ukraine, the survey shows. The polling in 22 countries of more than 21,000 citizens also underlines the extent to which the global south is less engaged with the war in Ukraine than Europeans.

Asked to list their top-three priority issues, voters more often cited the climate crisis and cost of living ahead of Ukraine. Even in the UK, the country with some of the most solid support for Ukraine, more voters cite climate change.

The climate emergency was the top priority, with 36% of respondents ranking it as one of the three most significant issues facing the world, compared with 28% who picked Russia’s invasion of Ukraine. In all but three of the countries surveyed, fewer than 40% cited Ukraine as a top-three priority issue.

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It will be examined closely by world leaders for signs of any fracture in support for the war in Ukraine in view of rising inflation and energy prices. Although the survey clearly shows Ukraine is globally viewed as less important than the climate crisis and the cost of living, Russia can take little solace from the poll.&nbsp;

For instance, there was also a strong plurality (49%) supporting the statement “war crimes are mostly being committed by Russia”, compared with 28% supporting the view that “war crimes are being committed by both sides”.

(with inputs from agencies) 
&nbsp;

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The cost of living is ranked by most voters globally as a more important issue than liberating Ukraine from Russian occupation, but there is still strong support for a Russian military withdrawal, according to a survey showing global preoccupations.

The cost of living is ranked by most voters globally as a more important issue than liberating Ukraine from Russian occupation, but there is still strong support for a Russian military withdrawal, according to a survey showing global preoccupations. The polling was conducted by Datapraxis and YouGov by the Open Society Foundations, a group funded by the businessman and philanthropist George Soros, and has been released ahead of the UN general assembly later this month in New York. Majorities in 16 of the 22 largest countries believe Russia should leave the territory it has occupied in Ukraine, the survey shows. The polling in 22 countries of more than 21,000 citizens also underlines the extent to which the global south is less engaged with the war in Ukraine than Europeans. Asked to list their top-three priority issues, voters more often cited the climate crisis and cost of living ahead of Ukraine. Even in the UK, the country with some of the most solid support for Ukraine, more voters cite climate change. The climate emergency was the top priority, with 36% of respondents ranking it as one of the three most significant issues facing the world, compared with 28% who picked Russia’s invasion of Ukraine. In all but three of the countries surveyed, fewer than 40% cited Ukraine as a top-three priority issue. Also Read: In pics: What moving out of majestic white house looks like? It will be examined closely by world leaders for signs of any fracture in support for the war in Ukraine in view of rising inflation and energy prices. Although the survey clearly shows Ukraine is globally viewed as less important than the climate crisis and the cost of living, Russia can take little solace from the poll. For instance, there was also a strong plurality (49%) supporting the statement “war crimes are mostly being committed by Russia”, compared with 28% supporting the view that “war crimes are being committed by both sides”. (with inputs from agencies)

Survey suggests cost of living and climate are higher global priorities than Ukraine war

Ukraine's foreign minister says India is buying Russian crude oil tainted by Ukrainian blood. Foreign minister S Jaishankar defended the move as part of easing India's cost-of-living crisis. Why has the world struggled to accept India's strategic autonomy? Palki Sharma tells you.

Gravitas: Ukraine says India buying Russian oil with 'Ukrainian blood'

According to official data released on Wednesday, food price increases caused British inflation to rocket to a record 40-year high in July, aggravating the nation's cost of living crisis as it faced the possibility of entering a recession. According to the Office for National Statistics, the Consumer Prices Index (CPI) increased to 10.1% last month from 9.4% in June, which was a four-decade high.

The Bank of England issued a warning earlier this month predicting that UK inflation would reach its highest level since 1980 this year, slightly above 13%. Additionally, it predicted that the nation would experience a recession near the year's conclusion that the BoE anticipates will extend until late 2023. The second quarter of the British economy decreased, according to official data released last week.

While the administration of outgoing Prime Minister Boris Johnson has promised to assist in lowering fuel prices for millions of Britons this next winter, consumer advocacy organisations are calling for significantly more governmental assistance. It comes as salary values are declining at a historic rate in Britain, which is experiencing a crisis related to the cost of living.

Also Read:&nbsp;<a href="https://www.wionews.com/world/us-taiwan-begin-formal-talks-under-new-trade-initiative-looking-for-economically-meaningful-outcomes-507926">US-Taiwan begin formal talks under new trade initiative; looking for 'economically meaningful outcomes'</a>

Johnson's replacement, who will take office after him next month and compete with former finance minister Rishi Sunak and foreign secretary Liz Truss, will inherit the ailing economy. Since the end of last year, the Bank of England has increased its benchmark interest rate many times in an effort to reduce inflation.

The most recent increase was by 0.5 percentage points, which is the largest increase since 1995 and brings borrowing costs to 1.75 per cent, increasing mortgage payments for homeowners while encouraging saving. The BoE's recent actions reflect the US Federal Reserve's and the European Central Bank's aggressive monetary policy as the world races to quell the raging inflation that has been stoked by Russia's invasion of Ukraine.

(with inputs from agencies)

According to official data released on Wednesday, food price increases caused British inflation to rocket to a record 40-year high in July, aggravating the nation's cost of living crisis as it faced the possibility of entering a recession.

According to official data released on Wednesday, food price increases caused British inflation to rocket to a record 40-year high in July, aggravating the nation's cost of living crisis as it faced the possibility of entering a recession. According to the Office for National Statistics, the Consumer Prices Index (CPI) increased to 10.1% last month from 9.4% in June, which was a four-decade high. The Bank of England issued a warning earlier this month predicting that UK inflation would reach its highest level since 1980 this year, slightly above 13%. Additionally, it predicted that the nation would experience a recession near the year's conclusion that the BoE anticipates will extend until late 2023. The second quarter of the British economy decreased, according to official data released last week. While the administration of outgoing Prime Minister Boris Johnson has promised to assist in lowering fuel prices for millions of Britons this next winter, consumer advocacy organisations are calling for significantly more governmental assistance. It comes as salary values are declining at a historic rate in Britain, which is experiencing a crisis related to the cost of living. Also Read: US-Taiwan begin formal talks under new trade initiative; looking for 'economically meaningful outcomes' Johnson's replacement, who will take office after him next month and compete with former finance minister Rishi Sunak and foreign secretary Liz Truss, will inherit the ailing economy. Since the end of last year, the Bank of England has increased its benchmark interest rate many times in an effort to reduce inflation. The most recent increase was by 0.5 percentage points, which is the largest increase since 1995 and brings borrowing costs to 1.75 per cent, increasing mortgage payments for homeowners while encouraging saving. The BoE's recent actions reflect the US Federal Reserve's and the European Central Bank's aggressive monetary policy as the world races to quell the raging inflation that has been stoked by Russia's invasion of Ukraine. (with inputs from agencies)

UK cost-of-living crisis deepens as inflation hits new 40-year high

UK inflation has risen above 10% for the first time in 40 years, driven by soaring prices for food and fuel as households come under mounting pressure from the cost of living crisis.

UK inflation hits new 40-year high of 10.1% driven by soaring food and fuel prices

Good news for thousands of staff working for Nationwide Building Society, the largest building society in the UK as it said on Monday (August 15) tha it will pay more than 11,000 of its staff $1,446.84 amid the ongoing cost of living crisis across the country.&nbsp;

The customer-owned lender further noted that the offer will be made to staff making less than 35,000 pounds, comprising around 61% of Nationwide's workforce of 18,000 people.&nbsp;

As quoted by media outlets, Debbie Crosbie, chief executive officer at Nationwide, said: "The months ahead will be worrying for many people and we're always considering new ways to help our members. But rising prices affect our colleagues too and that's why we’re providing this additional support."&nbsp;

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Including HSBC, Barclays, Lloyds, NatWest and the UK arm of Santander, several British lenders have also given thousands of their staff a one-off sum or a pay rise to help them cope with soaring prices.&nbsp;

In the first week of August, the Bank of England (BoE) unveiled the biggest interest rate rise in 27 years and also warned that Britain will sink into a lengthy recession later this year as inflation rockets even higher. Amid a cost-of-living crisis, borrowing is becoming more expensive.&nbsp;

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That hike meant that there will be an immediate increase in mortgage bills for millions of homeowners on the tracker. Or even the variable mortgages that are in line with the BoE rate.&nbsp;

The BoE had said that the "inflationary pressures in the United Kingdom and the rest of Europe have intensified significantly" since May.&nbsp;

(With inputs from agencies)

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Good news for thousands of staff working for Nationwide Building Society, the largest building society in the UK as it said on Monday (August 15) tha it will pay more than 11,000 of its staff $1,446.

Good news for thousands of staff working for Nationwide Building Society, the largest building society in the UK as it said on Monday (August 15) tha it will pay more than 11,000 of its staff $1,446.84 amid the ongoing cost of living crisis across the country. The customer-owned lender further noted that the offer will be made to staff making less than 35,000 pounds, comprising around 61% of Nationwide's workforce of 18,000 people. As quoted by media outlets, Debbie Crosbie, chief executive officer at Nationwide, said: "The months ahead will be worrying for many people and we're always considering new ways to help our members. But rising prices affect our colleagues too and that's why we’re providing this additional support." ALSO READ | Donald Trump claims his passports 'stolen' by FBI agents during the August 8 raid Including HSBC, Barclays, Lloyds, NatWest and the UK arm of Santander, several British lenders have also given thousands of their staff a one-off sum or a pay rise to help them cope with soaring prices. In the first week of August, the Bank of England (BoE) unveiled the biggest interest rate rise in 27 years and also warned that Britain will sink into a lengthy recession later this year as inflation rockets even higher. Amid a cost-of-living crisis, borrowing is becoming more expensive. ALSO READ | Salman Rushdie attack suspect 'changed a lot' after Lebanon visit That hike meant that there will be an immediate increase in mortgage bills for millions of homeowners on the tracker. Or even the variable mortgages that are in line with the BoE rate. The BoE had said that the "inflationary pressures in the United Kingdom and the rest of Europe have intensified significantly" since May. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Amid cost of living crisis, Britain's Nationwide to pay staff $1,446 bonus

Deepening cost-of-living crisis pushes growing numbers of Britons to part with their pets. The Bank of England has warned Britain faces a long recession.

As cost-of-living surge, cash-strapped Britons abandon pets

Harriet, a black English cocker spaniel, has been left behind as an increasing number of Britons are being forced to give up their pets due to the country's spiralling cost of living issue. She is standing on her hind legs to greet any potential owner who might approach her glass-doored kennel.&nbsp;

She was one of 206 dogs and 164 cats now being cared for at rehoming centres run by the Battersea animal charity. She was discovered running along a major road in London after witnesses witnessed her being tossed out of a car.

Similar stories can be found in other centres across the nation, some of which have experienced a record number of inquiries for dog and cat returns as a result of the country's tightest living standards since at least the 1960s, which has led many owners to conclude that the cost of additional food and hefty medical expenses are no longer manageable.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/science/tiny-cat-sized-dinosaurs-walked-over-china-100-million-years-ago-probably-had-spikes-on-their-tail-506783">Tiny cat-sized dinosaurs walked over China 100 million years ago; probably had spikes on their tail</a>

Due to their requirement for specialised heating and lighting, exotic pets like snakes and lizards are also proving to be prohibitively expensive. The Royal Society for the Prevention of Cruelty to Animals (RSPCA) informed Reuters that three snakes, including an 8-foot (2.4-metre) boa constrictor, were recently left in pillow cases outside a reptile shop.

The rise, which comes as households prepare for energy costs to more than treble in January compared to last year, pounding people's earnings, follows a spike in demand for pets during COVID-19 pandemic lockdowns in a nation known for its love of animals. Britain will have a protracted recession, the Bank of England has warned.

(with inputs from agencies) 
&nbsp;

Harriet, a black English cocker spaniel, has been left behind as an increasing number of Britons are being forced to give up their pets due to the country's spiralling cost of living issue.

Harriet, a black English cocker spaniel, has been left behind as an increasing number of Britons are being forced to give up their pets due to the country's spiralling cost of living issue. She is standing on her hind legs to greet any potential owner who might approach her glass-doored kennel. She was one of 206 dogs and 164 cats now being cared for at rehoming centres run by the Battersea animal charity. She was discovered running along a major road in London after witnesses witnessed her being tossed out of a car. Similar stories can be found in other centres across the nation, some of which have experienced a record number of inquiries for dog and cat returns as a result of the country's tightest living standards since at least the 1960s, which has led many owners to conclude that the cost of additional food and hefty medical expenses are no longer manageable. Also Read: Tiny cat-sized dinosaurs walked over China 100 million years ago; probably had spikes on their tail Due to their requirement for specialised heating and lighting, exotic pets like snakes and lizards are also proving to be prohibitively expensive. The Royal Society for the Prevention of Cruelty to Animals (RSPCA) informed Reuters that three snakes, including an 8-foot (2.4-metre) boa constrictor, were recently left in pillow cases outside a reptile shop. The rise, which comes as households prepare for energy costs to more than treble in January compared to last year, pounding people's earnings, follows a spike in demand for pets during COVID-19 pandemic lockdowns in a nation known for its love of animals. Britain will have a protracted recession, the Bank of England has warned. (with inputs from agencies)

Deepening cost-of-living crisis pushes Britons to give up pets

British oil firm BP posted its highest quarterly profits in 14 years on Tuesday. How are oil firms reporting bumper profits amid a global cost-of-living crisis? How can governments tame big oil's hunger for profits? Palki Sharma tells you.

Gravitas: British oil firm BP reports highest profit in 14 years

Average British workers’ wages will be down, productivity will be hit, and UK’s competitive edge will be lost during the rest of the decade due to Brexit, a new study has claimed.

The Resolution Foundation think tank’s report, in collaboration with the London School of Economics, has said that splitting away from the EU would make Britain “poorer” during the 2020s and accentuate the cost of living crisis.

The study said that the immediate impact of Brexit was already clear, with a “depreciation-driven inflation spike” increasing the cost of living for households and cutting investment.

“A less open Great Britain is expected to be poorer and less productive,” it said, according to The Guardian.

The study estimated that UK’s labour productivity will dwindle by 1.3 per cent by the end of the decade through changes in trading rules, contributing to weaker wage growth.

They said that real pay was set to be £470 lower per worker each year, on average, if Britain goes ahead with its Brexit plan.

It further said that the region would see a 2.7 per cent fall in manufacturing output by 2030 compared with a scenario in which the UK voted to remain in the EU in 2016.

The report also added that the northeast of England is expected to be hit hardest by Brexit, since its firms are particularly reliant on exports to the EU.

The report is authored by LSE academic Swati Dhingra, an outspoken Brexit critic picked by chancellor Rishi Sunak to sit on the Bank of England’s interest-rate setting monetary policy committee from August.

(With inputs from agencies)

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Average British workers’ wages will be down, productivity will be hit, and UK’s competitive edge will be lost during the rest of the decade due to Brexit, a new study has claimed.

Average British workers’ wages will be down, productivity will be hit, and UK’s competitive edge will be lost during the rest of the decade due to Brexit, a new study has claimed. The Resolution Foundation think tank’s report, in collaboration with the London School of Economics, has said that splitting away from the EU would make Britain “poorer” during the 2020s and accentuate the cost of living crisis. The study said that the immediate impact of Brexit was already clear, with a “depreciation-driven inflation spike” increasing the cost of living for households and cutting investment. “A less open Great Britain is expected to be poorer and less productive,” it said, according to The Guardian. The study estimated that UK’s labour productivity will dwindle by 1.3 per cent by the end of the decade through changes in trading rules, contributing to weaker wage growth. They said that real pay was set to be £470 lower per worker each year, on average, if Britain goes ahead with its Brexit plan. It further said that the region would see a 2.7 per cent fall in manufacturing output by 2030 compared with a scenario in which the UK voted to remain in the EU in 2016. The report also added that the northeast of England is expected to be hit hardest by Brexit, since its firms are particularly reliant on exports to the EU. The report is authored by LSE academic Swati Dhingra, an outspoken Brexit critic picked by chancellor Rishi Sunak to sit on the Bank of England’s interest-rate setting monetary policy committee from August. (With inputs from agencies) WATCH WION LIVE HERE

Brexit will make UK poorer by 2030, wages will see a massive drop, claims study

The UK government will announce an emergency package to help people through the cost of living crisis on Thursday. Treasury sources suggested that Sunak's fresh support would focus on the poorest households.

UK: Rishi Sunak to unveil cost of living support package