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A fertile ground for thieves
The pandemic, soaring prices, and economic pain have combined to create perfect conditions for thieves and fraudsters. Theft of commodities such as lumber, metals, and food crops is nothing new. Yet the combination of higher prices, the pandemic, and the hit to economies has created an unusually fertile ground for criminals. Amarendra Panda, an assistant commissioner of police in Cuttack in the eastern Indian state of Odisha, says his officers have raided about 20 premises recently and confiscated what he calls “adulterated commodities” worth millions of rupees, or tens of thousands of dollars. “Their motive was to earn huge profits by investing as little as possible,” he says. In the US, lumber prices soared to an all-time high in May and are now more than double what they were a year ago. Copper is up 70pc over the same period, having also hit a record last month. Global food prices increased for a 12th straight month in May to the highes ....

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Don’t take ghosting at work personally ....

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A man eats breakfast at a restaurant that is advertising that they are hiring in Annapolis, Maryland. American states are moving to cut pandemic unemployment benefits, a painful blow for millions of people who will soon be left without income. With punishing jobless levels during the Covid-19 pandemic, unemployment benefits had been extended especially to the self-employed and extended further until September 6,2021 even for those who had reached the maximum duration. AFP
Secret to CEO success: pay higher wages
Masaru Tange says the strategy that turned his company into one of Japan’s best-performing stocks may be surprising: he buys smaller firms and boosts their workers’ pay. Mr Tange’s Shift, a software tester, acquires other businesses near the bottom of the industry supply chain and raises their engineers’ salaries. He says he’s able to do this and still charge competitive prices by cutting out layers of companies that serve as middlemen in the outsourci ....

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Visitors and staff wearing protective face masks walk down the Main Street of Disneyland Paris in Marne-la-Vallee on the outskirts of Paris last year. Disneyland Paris, normally Europe’s biggest tourist attraction hosts a mass Covid vaccination site at its convention centre as France seeks to speed up its inoculation drive, officials said last week. The amusement park east of the capital has been closed since October 30, when non-essential businesses were ordered to close amid a surge in infections, putting its 17,000 employees out of work. AFP
India’s stealth power
India has proved to be a popular and clever investor in poor countries. Many developing countries are vocal about their dislike for the Chinese firms that invest there. Yet, no one bats an eyelid at India’s commercial presence. Why? Tata Motors has huge assembly plants in many countries, including South Africa and Malaysia. Bharti Airtel is one of the biggest telecoms operators in Africa. The Aditya B ....

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The logo of US online retail giant Amazon is pictured at the distribution centre in Moenchengladbach, western Germany. Amazon will have to specify the origin of the fruits and vegetables it sells in Germany on its online shopping platform dedicated to fresh produce, ruled a German court last week. AFP
Barnacles of shipping industry
Shipping is vital to our global economy 90pc of the world’s trade travels by boat. But powering all that heavy cargo through the waves takes a lot of marine diesel even more, when hitch-hiking crustaceans are slowing down our stuff. Boats encrusted with barnacles, limpets and mussels can use 25pc more dirty marine diesel than slippery ships with smooth sides. The crustaceans can add a whooping £22bn (approximately $31bn) a year to fuel costs. So to reduce the carbon commotion caused by these barnacles, experts are finding ingenious ways to make ships slippery. These solutions vary from special UV paints to hull-cleaning robots that could ....

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