1 China sees globalization ‘unstoppable’ (Gulf News)
Chinese Vice-Premier Zhang Gaoli told a gathering of Asian leaders that the
world must commit to multilateral free trade under the World Trade Organisation
and needs to reform global economic governance.
Negotiations on the 16-nation Regional Comprehensive
Economic Partnership, an Asia-wide agreement that’s favoured by China, should
be concluded soon and regional cooperation such as with the Association of
South East Asian Nations should be advanced, Zhang said.
“The river of globalisation and free trade will
always move forward with unstoppable momentum to the vast ocean of the global
economy,” Zhang said. China will remain a strong force in the world economy and
for peace and stability, he said, adding that countries must respect one
another’s core interests and refrain from undermining regional stability.
2 Eurozone growth near six-year high (BBC) Eurozone
businesses grew at the fastest rate in nearly six years in March, led higher by
France and Germany, a closely-watched survey has indicated. The latest Markit
Composite Purchasing Managers' Index (PMI) rose to 56.7 from February's 56.0. A
reading above 50 indicates growth.
The findings signalled the bloc's recovery was
"surging higher", the report's authors said. Job creation was at its
best level for almost a decade, they added. Fuelling the growth were strong
performances from France and Germany's services sectors, the survey found.
Economists said the PMI data could encourage the
European Central Bank (ECB) to move towards raising interest rates and further
easing its monthly bond-buying programme.
3 When shrinkflation bites (Zoe Wood in The Guardian) Confectionery firm
Mars is shrinking the pack size of favourite sweets including Maltesers,
M&M’s and Minstrels by up to 15% in the latest example of an industry trend
that is shortchanging shoppers.
It is the second time within a year that Mars has
reduced the number of Maltesers in its sharing bags, which now weigh in at just
93g. Last autumn packs of Maltesers, billed as the lighter way to enjoy
chocolate, shrank from 121g to 103g.
The American food giant appears to have taken action
across its bestselling brands: family packs of M&M’s are now 25g lighter at
140g, while bags of Minstrels and Revels are also almost 10% lighter. Prices
are unchanged.
Food manufacturers are either increasing prices or
shrinking pack sizes – described as “shrinkflation” – as ingredient and
transport costs rise and then presumably hoping that consumers don’t notice the
difference.
Shrinkflation started during the last recession and
in recent years chocolate-lovers have been regularly targeted. Last year
Mondelēz, the American food giant that owns Cadbury, caused a furore after it
cut the weight of Toblerone bars by widening the gaps between the chocolate
“peaks”.
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