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Amanda Anna G

Counting the Cost of Fixing the Future - NYTimes.com - 0 views

  • What would you pay to protect the world in which your great-great-grandchildren will live from hurricanes, drought and the like?
  • Perhaps the most startling conclusion to be drawn from the new estimates is that the sacrifice demanded of our generation to prevent vast climate change down the road may turn out to be rather small.
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    I think this article was appropriate for our task, since most of the article was about opportunity cost, if we should spend our money on fixing the future. This subject (the environment) can be seen as an opportunity cost since we choose to venture our money on the environment for the future, even though we might not will take part of the advantages now, for the moment.
Zube Iheobi

Togo: Togolese economist argues for fixed exchange rates for ECOWAS currencies - 0 views

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    this article demonstrates the effectivnes of having a fixed method of exchange rates for LED'C's. it alows them more stability and therefor more prospects for trade
Haydn W

Asda takes fight to discounters as sales fall - Telegraph - 2 views

  • Asda takes fight to discounters as sales fall
  • Asda’s chief executive has insisted that he is countering the rise of discount retailers Aldi and Lidl
  • Andy Clarke said recently-introduced price cuts had begun to pay off
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  • Despite this, Asda’s like-for-like revenues fell 0.1pc in the final three months of 2013 against the same quarter a year ago. This was the first fall since 2010, and means that three of the UK’s “Big Four” supermarkets saw declines in the period, with only J Sainsbury bucking the trend.
  • Asda announced a £1.3bn investment in cutting prices and improving quality in November
  • Asda’s market share declined from 17.6pc a year earlier to 17.1pc in the final quarter of the year, according to data from Kantar Worldpanel
  • Aldi and Lidl grew from a combined 5.8pc to 7.1pc.
  • Wal-Mart, the US giant behind Asda, also revealed a sales decline. The world’s biggest retailer said like-for-like sales fell 0.4pc in the quarter.
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    This article details the rise of so called 'budget supermarkets' Aldi and Lidl in the UK taking market share from the 'Big Four' supermarkets Asda, Tesco, Sainsbury's and Morrisons. The supermarket industry in the UK is a prime example of an oligopoly, I'd argue that there isn't perhaps a better example anywhere as this market features all the tell-tale signs; the four supermarkets often compete in price wars, especially Asda, the store mentioned here. Also the firms often collude and fix prices across the board together. The market, however is changing with other firms entering the market to provide cheaper alternatives to the ' Big Four' whom so many consumers have become disenfranchised with.
Yassine G

Price Controls Cause Chaos in Ethiopian Markets - 0 views

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    I choose this article as I found that It demonstrates all the consequences of a price control and from different points of view. In this case, the government set a maximum price. A lot of the citizens were very happy, as they can now afford what they couldn't before, however, with time, they started to realise that the products are disappearing from shelves. The reason is that with the lower price, demand has increased and suppliers can't supply more. The suppliers were affected by this price control too. They are not able to pay their costs any more, and profit made is very little. If the government doesn't take another action to fix what they did, they will have a bigger problem than food being expensive, which is food not exciting due to most groceries closing after not being able to make profits. 
Aleksi B

Spain unemployment to take 10 years to recover - report - RT Business - 1 views

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    In this article stated that Spain's largest bank made a claim saying the unemployment will take over a decade just to fix. Spain are in a large amount of debt as they rose from last year and the Spanish research and development spending is 70% below the EU level
Marenne M

Nigeria devalues currency as oil prices drop - FT.com - 5 views

  • Nigeria has devalued its currency by nearly 10 per cent and raised interest rates to record levels, in one of the clearest signs yet of how oil producing nations are struggling as energy prices drop sharply.
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    This article describes the devaluation of the fixed currency rate of Nigeria as a result of the decreased energy prices. Nigeria is an oil producing country and therefore earns a lot of its income through oil exports. Now that the prices of other energy has dropped, there is a lower demand for the Nigerian oil, leading to fewer exports. The Nigerian central bank has now devaluated its currency by 8.4 percent in the hope that the lower prices will encourage a greater demand for their oil exports.
Marenne M

Sweet and sour: Sugarcane farmers object over price set by mills - The Express Tribune - 0 views

  • bumper crop this year but the government’s delay in setting a minimum selling price has soured their happiness
  • rice at which sugarcane is sold to sugar mills is usually set by the government in consultation with the Kisan Board
  • price floor is to protect the farmers’ interests as their costs are ever-increasing
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  • mills have unilaterally declared the buying price to be Rs10 higher than last year’s price per 40 kilogrammes (kg)
  • ugar mills purchase and crush sugarcane without considering the rising cost of the primary sector
  • Farmers, on the other hand, dislike the idea of fixing the price on the basis of price of sugar as sugar mills have other products to earn from whereas the cost for cane growers has almost doubled
  • mill owners are trying to get the maximum benefit for the lowest price from their (the farmers’) hard work
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    This article describes how every year the government places a price floor to ensure the farmers interest as prices increase. This article concerns the fact that the government has not yet set a minimum price for the purchase of the sugarcane. This leads to problems for the farmers, because the mills decide the price of the sugarcane without considering the cost of the farmers.
Marenne M

True Costs of So-called Cheap Food | Ellen Gustafson - 0 views

  • when you look at the prices of so-called "conventional" junk food compared with local, organic fruits and veggies, on a calorie per dollar basis, the junk often wins.
  • Many people assume that it's the produce or organic foods that "cost more" than highly processed, shelf-stable ubiquitous and cheap junk food, but what if the price tags that we see don't tell the whole story?
  • hich requires acres of corn fields, seeds, gallons of water, gas for heavy machinery, pounds of fertilizer and sprays of pesticides, and government subsidies.
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  • give them antibiotics, deal with their waste, transport them to slaughter, power the slaughter facility, refrigerate the ground meat and then cook it
  • processed wheat bun and condiments.
  • so efficient that all of those costs amortize over tons of ground beef and fixings to make a really cheap burger, or are there parts of that whole list of "costs" that don't actually show up in the price of our fast food burgers?
  • Examples of costs not currently factored into our food supply include the environmental outcomes of chemically-intensive and petroleum-intensive agriculture, costs for soil erosion, real water and irrigation costs, pesticide and waste runoff that creates dead zones in our waterways (like the "New Jersey-sized dead zone in the Gulf of Mexico" that stems from nitrogen runoff from our Corn Belt) and then affects the livelihoods of fishermen and shrimp farmers in the Gulf region.
  • Hidden health costs like our global obesity epidemic and the food-related public health issues of heart disease, diabetes, and cancer are certainly not included in the cost of your fast food meal.
  • unpaid externalities like low wages for food workers that often mean government subsidies like food assistance, which is what over 50 percent of fast food worker families are getting
  • "value" and "low prices" of cheap food that we see at the cash register, are not the whole story
  • We are paying today in our health and our taxes and our children
  • will be paying tomorrow with a degraded environment, dirty water, decimated communities and jobs, and denigrated health.
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    This article describes how processed food and fast food have many negative externalities which in the end makes them cost more than organic foods which are more expensive in the stores. Processed foods may be cheaper than organic food, however the pollution during the process of producing the food, the health problems involved and the low wages which are unpaid for are all consequences which in the end will make these foods cost more.
Amanda Anna G

Foreign exchange fines: banks handed £2.6bn in penalties for market rigging |... - 3 views

  • The corruption of the world’s biggest currency dealers was laid bare on Wednesday when regulators imposed £2.6bn of fines on six major banks for rigging the £3.5tn-a-day foreign exchange markets.
  • Two UK and US regulators said they had found a “free for all culture” rife on trading floors which allowed the markets to be rigged for five years, from January 2008 to October 2013.
  • The chancellor, George Osborne, said: “Today we take tough action to clean up corruption by a few so that we have a financial system that works for everyone. It’s part of a long-term plan that is fixing what went wrong in Britain’s banks and our economy.”
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    Regulators have imposed fines on six major banks for rigging foreign exchange markets. George Osborne argues that action have been taken in order to clean up corruption so there will be a financial system that works for everyone. 
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