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09.06.26 - 11:18
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The British food scene was booming. Why has it suddenly gone bust? (The Guardian)
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Once mocked internationally, the UK became a gastronomic hotspot in recent decades – London was hailed as the foodie capital of the world. Now many Michelin-starred restaurants have closed and the rot is spreadingIt's 9am on a weekday morning and although I've just finished my porridge, the chef Richard Wilkins is making my mouth water. “My signature dish is soft Scottish langoustines wrapped in very thin, crispy pastry, served with Japanese sushi rice and a langoustine bisque.”His other specialities include turbot in a spinach and champagne sauce, buttery wagyu steak with English peas, and raspberry millefeuille. Sadly, I won't be able to sample any of them and neither will anyone else. At the end of April, Wilkins took the painful decision to close his west London Michelin-listed Restaurant 104 after seven years. Continue reading......
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09.06.26 - 09:01
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Gupta: Africa Food Prices Haven′t Felt Hormuz Hit (Bloomberg)
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The escalation of the war in Middle East is reshaping Africa's credit outlook, exposing vulnerabilities and accelerating differentiation across credit ratings. Zahabia Gupta, S&P Global Ratings, Managing Director & Emerging Markets Credit Research Head spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East and Africa on the direct impact of the war on the continent.
(Source: Bloomberg)...
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09.06.26 - 08:01
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Sparen und Sonderangebote prüfen: Deutsche knausern sich durch die Krise (N-TV)
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Wie umgehen mit der wachsenden Inflation? Die Deutschen halten einer Befragung zufolge ihr Geld zusammen - stärker als andere Europäer. Vermehrt machen sie Jagd auf Rabatte und Sonderangebote... --- 64 Prozent der Befragten in Deutschland bezeichneten die wirtschaftliche Lage als schlecht. Das sind zwei Punkte mehr als vor einem Jahr. Im europäischen Schnitt sind es 56 Prozent. BCG hat im April mehr als 20.000 Verbraucher in elf Ländern befragt.. --- Nachhaltigkeit spielt nicht mehr die große Rolle. In Deutschland sind nur noch 17 Prozent der Verbraucher bereit, für nachhaltige Produkte tiefer in die Tasche zu greifen. Das Preis-Leistungs-Verhältnis stehe klar im Vordergrund.. --- In ganz Europa sind Verbraucher aber bereit, in die eigene Gesundheit zu investieren. 64 Prozent kochen lieber frisch, statt Fertiggerichte zu kaufen, 48 Prozent achten auf Produkte ohne künstliche Inhaltsstoffe..
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09.06.26 - 00:21
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Campbell′s CEO Serves Up Warning For Restaurants As "Resilient" At-Home Cooking Trend Gains Steam (ZeroHedge)
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Campbell's CEO Serves Up Warning For Restaurants As "Resilient" At-Home Cooking Trend Gains Steam
There is not much to get excited about in canned-soup maker Campbell's third-quarter results, with sales slumping and softness in its snack unit weighing on performance. But one revealing detail from management's earnings call earlier on Monday offers a broader read-through on the consumer: households may be spending much more time cooking at home and pulling back from restaurants in the second half of the year.
The canned-soup maker reaffirmed its full-year outlook, but Wall Street analysts were muted on the third-quarter results.
BNP Paribas Max Gumport told clients that two key concerns remain: Campbell's ability to stabilize organic sales in the snack unit and to navigate another year of elevated inflation. He noted the quarterly beat was driven largely by SG&A and below-the-line items, while the guidance reaffirmation was partly supported by an expected fourth-quarter tariff...
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08.06.26 - 21:36
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UBS Warns America′s Restaurants Locked In "Difficult Cycle" As Tax-Refund Sugar-High Fades (ZeroHedge)
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UBS Warns America's Restaurants Locked In "Difficult Cycle" As Tax-Refund Sugar-High Fades
There is certainly a growing consensus on Wall Street that the tax-refund sugar high is fading just as consumers' financial profiles deteriorate. The latest read-through comes from UBS analyst Dennis Geiger, the bank's U.S. restaurants equity research analyst, who warns that a toxic cocktail of macro pressures is likely to crimp restaurant spending in the second half of the year.
Geiger warned in a note that elevated gas prices at the pump appear to be offsetting tax-rebate benefits, while lower-income, younger, and Hispanic consumers remain among some of the weakest demand cohorts.
"Challenged traffic and sales trends likely largely reflect depressed consumer sentiment across several cohorts, elevated gas prices, and other macro headwinds," the analyst said, adding, "We are more cautious on restaurant industry trends into 2H26, assuming near-term headwinds persist, rebate che...
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08.06.26 - 17:51
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We Are Being Warned That A "Godzilla El Niño" Could Absolutely Devastate Global Food Production (ZeroHedge)
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We Are Being Warned That A "Godzilla El Niño" Could Absolutely Devastate Global Food Production
Authored by Michael Snyder via The End of The American Dream blog,
The waters of the Pacific Ocean are getting extremely warm, and that could provide fuel for an immensely destructive climate event that is unlike anything we have ever seen before. Even the United Nations has issued an ominous warning about the El Niño event that is in the long-term forecast, because it will have a dramatic impact on every man, woman, and child on the entire planet.
We are being told that there is more than an 80 percent chance that El Niño conditions will arrive by the end of next month due to rapidly warming equatorial waters in the Pacific. Meanwhile, an unprecedented "9,000-mile marine heatwave" has developed in the North Pacific. Many experts are concerned that the confluence of those two factors could produce a "Godzilla El Niño"...
The chance of an El Niño event emerging by J...
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07.06.26 - 04:00
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UN Food Agency Warns Millions Pushed Into Hunger By Prolonged Iran War (ZeroHedge)
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UN Food Agency Warns Millions Pushed Into Hunger By Prolonged Iran War
The United Nations food agency is sounding a catastrophic alarm on the macroeconomic fallout of the ongoing conflict in Iran and the Persian Gulf region. According to the World Food Programme (WFP), millions of people are actively being plunged into acute hunger due to the war - realizing a grim trajectory the agency previously warned would occur if the Middle East crisis stayed prolonged and global oil prices remained elevated.
Fragile economies are feeling the most pain, with WFP analysis of three highly vulnerable nations revealing that an additional 2.5 million people in Somalia, 2.3 million in Afghanistan, and 1.3 million in Sri Lanka are currently struggling to meet their most basic daily nutritional needs. Back in March, the WFP estimated that a staggering 45 million people globally could be pushed into severe food insecurity by the end of June, compounding the over 300 million people globally who were already facing...
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