Food prices will remain high over the next decade meaning millions more risk further hardship. A report published by the OECD and the UN's FAO food agency, ahead of next week's world food summit in Rome, urged immediate humanitarian aid for those worst affected. The paper also blamed biofuel for using up grain that could otherwise feed people and livestock. Speaking at an aid conference in Japan, the director of the World Food Programme, Josette Sheeran, said the effects could be catastrophic. (SOUNDBITE) (English) JOSETTE SHEERAN, EXECUTIVE DIRECTOR AT WORLD FOOD PROGRAM (WFP) SAYING: "Record high prices of food and fuel are a painful pinch for consumers all over the world, but for those who are living on less than a dollar a day, it's devastating. If these prices are sustained, the world's bottom billion could become the world's bottom two billion virtually overnight just because their purchasing power has been cut in half almost overnight." Drought in big commodity-producing...
In the clearest signal yet of renewed economic strain - the U.S. unemployment rate spiked to a near five-year high in August. The jobless rate jumped to 6.1 percent, while economists were expecting...
From Britain to mainland Europe soaring fuel prices have triggered angry protests. These should, then, be good times for the biodiesel business. Comparatively it's a lot greener and cheaper. But...
The price of a barrel of oil closed at an all-time high of $104.52 on Wednesday as supply concerns, border tensions in South America, and speculative buying all combined to give traders a powerful...
The credit card giant faces daily fines unless it changes its international fee structure, says the EU Competition Commissioner MOREINFO: * EU gives Mastercard ultimatum * EU adopts contested CO2...
UK's Chancellor of the Exchequer Alistair Darling is in China for a series of meetings with Prime Minister Wen Jiabao to improve economic ties. The trip comes as a report announced that China's...
A shiny new plane is unveiled for a trip from London to Amsterdam. It's an ordinary jumbo jet but the fuel being put into its tanks is anything but. Nuts from the Amazon rain forest are being...
Virgin Atlantic has carried out the world's first flight of a commercial aircraft powered partly by biofuel. The Boeing 747 flew on Sunday from London's Heathrow Airport to Amsterdam's...
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