France strong-arms big food companies into cutting prices

Minister threatens to name and shame if cuts not madePARIS, June 9 - French shoppers should pay less for their food from next month, Finance Minister Bruno Le Maire said on Friday, after he secured a pledge from 75 food companies including UnileverThe companies, which together make 80% of what the French eat, could face financial sanctions if they don't follow through, Le Maire said.

While the pace of food price rises has been slowing across the euro zone, it is the main factor keeping inflation high. The European Central Bank, which is expected to raise interest rates again next week even though growth is very weak, has said high corporate profit margins are also an inflation risk.

France's Carrefour has an "anti-inflation button" on its website that shows customers cheaper alternatives to products, often pointing them to own-brand groceries.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Curve Finance now lets you use wrapped staked ether to borrow its stablecoinDecentralized exchange Curve Finance added support for wrapped staked ether as collateral for its crvUSD stablecoin.
Source: TheBlock__ - 🏆 464. / 53 Read more »

DeFi Protocol Curve Finance Now Lets Users Mint crvUSD for Staked EtherStaked ether (stETH) holders can now use their tokens to mint curve usd (crvUSD), a decentralized stablecoin issued by stablecoin swapping protocol CurveFinance. By shauryamalwa.
Source: CoinDesk - 🏆 291. / 63 Read more »

Bernstein says buy this China-based personal finance stock that can rally nearly 60%The research firm and money manager initiated coverage at outperform.
Source: CNBC - 🏆 12. / 72 Read more »