FILE - In this Friday, Sept. 17, 2021 file photo, Britain's Business Secretary Kwasi Kwarteng, centre, participates in the first Cabinet meeting since the reshuffle, at 10 Downing Street, in London, Friday, Sept. 17, 2021. Britain's business secretary will hold emergency talks with industry leaders and consumer groups as the government looks for ways to support energy companies threatened by soaring natural gas prices. Kwasi Kwarteng says that Britain’s energy regulator would ensure gas and electricity keeps flowing to customers if their energy supplier fails. (Ben Stansall/Pool Photo via AP, File)
LONDON (AP) — Britain’s business secretary said he hopes to reach an agreement Tuesday to restore carbon dioxide supplies to food processors and avert potential shortages and price increases as the country deals with the fallout from soaring energy prices.
Kwasi Kwarteng’s comments came after crisis talks with the chief executive of CF Industries, which normally supplies the bulk of the carbon dioxide used by food processors but has suspended production because of high natural gas prices.
“We’re hopeful that we can get something sorted today and get the production up and running in the next few days,” Kwarteng told the BBC. “It may come at some cost. We’re still hammering out details. We’re still looking at a plan.”
The food processing industry, which uses carbon dioxide to stun animals before slaughter and to keep food fresh during packaging, is one of the first to feel the impact of the spike in wholesale gas prices. They have tripled this year in Britain as the global economy recovers from the COVID-19 pandemic — boosting demand for energy.
CF, which generates carbon dioxide as a byproduct of making fertilizer, has temporarily slashed production because costs are too high.
Kwarteng said the government is discussing a range of options to bolster carbon dioxide supplies, including subsidizing production at CF.
Unless there’s a deal soon, shoppers will begin to notice shortages “in about 10 days,” said Ian Wright, chief executive of the Food and Drink Federation.
The just-in-time supply system that underpins both supermarkets and the hospitality industry “is under the most strain it has ever been in the 40 years it has been there,” Wright told the BBC.7 Cyclical Stocks That Make Sense In a Volatile Market
Despite many predictions of an imminent, and possibly severe, market correction, 2021 has been a great year for investors. And that’s particularly true for investors who invested in cyclical stocks. This group of stocks was hit hard as the economy ground to a halt. This makes sense because cyclical stocks move in the direction of the broader economy.
But that’s also why, almost immediately, many of these stocks began to come back. And with the economy reopening, these stocks continue to show strength.
Cyclical stocks are commonly dividend into companies that manufacture durable goods, non-durable goods, or deliver services. At any given time, one or more of these sectors has outperformed others. But for the most part investors that bought into cyclical stocks continue to be rewarded.
In this presentation, we’ll take a look at seven cyclical stocks that are proving to be resilient even as the market continues to baffle even the most experienced investors.
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