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This time last year I wrote about the rapidly increasing world population, noting that not a single EU policy was concerned with food security or availability.

his week, EU Agricultural Commissioner Janusz Wojciechowski visited Dublin for the World Potato Conference and attended a meeting of the IFA national executive.

After months of denial by both him and other leaders that the invasion of Ukraine would impact on food availability in Europe, he has finally come out and said food security is now a top priority for the EU.

The world has been walking a food security tightrope for several years. Global commerce had become very lean, very internationalised and very efficient.

But the danger with a tightrope is that the smallest thing can throw you off. Remember, a few years back, just one boat blocked the most important shipping route in the world, the Suez Canal.

Now, global transport is still unreliable and multiple times the cost. I fear that the war in Ukraine has fundamentally altered the economics of EU food production for the future.

An abundance of internationally traded cheap grain was the cornerstone on which affordable food was built.

Corn is an incredible feed that can be eaten by humans in its natural form as cereals or bread or it can be fed to produce chicken, pork, beef or milk.

Up until very recently it traded at the same price as it did in the 1970s. This has now changed dramatically, due to a sharp increase in the cost of production which is likely to lead to a drop in production and a scenario not seen in generations, where demand is greater than supply.

The developed world, particularly European citizens, are in for a shock with the rate of food inflation that is about to hit them a figure of 8pc is being bandied about.

Yet many of the major costs to produce food fertiliser, feed and oil are up well over 100pc.

In the past, the powerful retailers have simply refused to give a price increase to suppliers.

The retailers will continue to squeeze suppliers, particularly own-brand suppliers, who have signed contracts. They will do this even if the producers go broke, because thats what the big retailers have been doing for decades, while legislators and consumer watchdogs turned a blind eye, so long as they continued to supply food as cheaply as possible.

This year the EU Ag Commissioner will get his wish with at least a 20pc drop in fertiliser usage due to the exorbitant cost (and to a lesser extent availability), but this could become a nightmare for consumers when production drops and demand continues to increase.

Last week I had a long chat with a dairy farmer who has been producing organic milk for over 20 years.

He is locked in to a 12-month fixed-milk-price contract and the buyer was not willing to renegotiate because the retailer was not interested in his yarn about increased costs.

The farmer told me the price of organic grain had rocketed to 700/t. We are in uncharted territory

And remember you and I are consumers, the same as everyone else in Europe. The difference is we are also food producers.

Back on the farm we are slightly tight for grass after an excellent spell that allowed us to take surplus bales and reseed 5pc of the MP, with another 4pc sprayed today for re-seeding next week.

This year in our efforts to establish clover we are sowing 2kg+ of clover seed per acre and grazing the new re-seed every time it has a cover of 800.

Milk output has dropped a little to 23.5L at 4.35 fat and 3.8 protein or 1.97kg/ms.

We increased the meal to 3kg this week and 4kg of zero grazing for five days to help support farm cover currently 120 per cow.

All cows have been AId and now we are hoping for a good conception rate.

Henry and Patricia Walsh farm in Oranmore, Co Galway along with their son Enda and neighbour and outfarm owner John Moran

Read more:
Henry Walsh: The world is in for a shock with food price hikes - Farming Independent

Courtesy MFGA

Dairy Farmers of Manitoba (DFM)is committing up to $100,000 for Manitoba Forage and Grassland Association (MFGA)over two years to help farmer-led efforts and projects focused on soil, water, and grass.

A new funding arrangement will see Dairy Farmers of Manitoba (DFM) commit up to $100,000 for MFGA over the next two years via corporate and project support, kicking off with support of the MFGA Green Gold Program, which is designed to guide the optimum cut of alfalfa based on highest relative feed value.

This is an incredible and very unique partnership, said Duncan Morrison, MFGA executive director. We are humbled and grateful to have the support of DFM. The great thing is we have structured the partnership as a win-win for both organizations. We know that dairy farmers are keen to work with the soils, grasses and natural areas on their farms to help reach the net zero carbon pledge made by Dairy Farmers of Canada. We believe MFGAs producer network, peer to peer interactions and project involvement underway and ahead are perfect to help DFM reach its goal.

Dairy Farmers of Manitoba is a long-time supporter of the MFGA Green Gold Program.By working with MFGA on future projects around soil, grasslands, and water management, we are creating more opportunities for dairy farmers to learn and participate in projects that support these best management practices, said DFM chair David Wiens. This is also a great opportunity to kick off our partnership with MFGA's Green Gold Program, in which we have been long time partners and supporters.

On top of the corporate support, MFGA will look for case by case opportunities to promote and deliver programming, research, and knowledge transfer to dairy farmers (extension services) with DFM. Targeted and pitched projects will focus on water, grass, soil, carbon, and must fit with ongoing or new partnership opportunities around on-farm and applied research and projects with research potentially aimed at: BMP development, farmer profitability, environmental (soil health, carbon sequestration, etc.), water models, soil mapping and carbon models.We approached DFM with a proposal that centered on our shared interests, long and trusted history and our respective organizational ambitions, added Morrison. There is a lot of work ahead for MFGA to realize the absolute maximum from this partnership and we are up to the task. We all want healthy soils, lands and waters and in many cases, farmers are already doing that great work individually. This partnership is going to bring us all together on key fronts, allow us to work more strategically and seamlessly and celebrate our successes together.

See the rest here:
Dairy Farmers of Manitoba commits up to $100,000 for Manitoba Forage and Grassland Association - Steinbachonline.com - SteinbachOnline.com

Estimated read time: 4-5 minutes

PROVO The Utah County attorney and sheriff took shots at each other last week over a child sexual abuse investigation recently announced by the sheriff's office.

In dueling press conferences on June 1, prosecutor David Leavitt called it a political attack on him, while Sheriff Mike Smith refused to name suspects or link the case to Leavitt. Both discussed a case that was filed in 2012, and later dropped in 2014, all before Leavitt was elected to his current office.

The day before, the sheriff's office had made a vague announcement about an investigation into ritualistic child sexual abuse. Leavitt then called a news conference and shared that he was named in a 151-page document labeled as a "victim statement" that was connected to the 2012 case. The statement names Leavitt and more than a dozen others as part of a group alleged to have practiced ritual sexual abuse of children.

Now, courtroom audio recordings obtained by the KSL Investigators provide more insight into the dismissal of 18 felony child sexual abuse charges against a Utah County man. In an effort to protect the privacy of the woman who came forward, KSL is not naming the man who was charged.

"Those charges were dismissed by my predecessor because the allegations were so untenable and unbelievable," Leavitt said.

Leavitt said the allegations are "100% false," but when pressed about details surrounding the dismissal of the case, admitted he had not reviewed the case file himself. He said the records are not digitized and would take several days to locate.

"I will make those files available to the extent they are allowed under the law," he said. "I have nothing to hide."

According to online court records, the case was dismissed without prejudice, meaning prosecutors can still refile the charges. When questioned Friday about the effort to locate the old records, a spokesperson for Leavitt's office said he was traveling and could not immediately provide answers.

There's a lot more that needs to be done with this case, and it's just not coming together.David Sturgill, Utah County prosecutor

During his news conference, Leavitt said he discussed the case with David Sturgill, the prosecutor who was assigned to the case 10 years ago and still works in the Utah County Attorney's Office.

"He told me they dismissed it because the evidence was so outlandish," Leavitt said.

But Leavitt's statements about the dismissal don't quite line up with what attorneys said in court.

"The allegations are some of the worst allegations of sexual abuse that I've come across in the many years that I've been prosecuting these types of cases," Sturgill said during a hearing in May 2013.

During that same hearing, the defense attorney representing the man charged also discussed the seriousness of the case and the need for a thorough investigation.

"If Mr. [] is convicted of these charges, he will never see the light of day," said Michael Esplin. "I mean, these are he'll be there for the rest of his life in prison."

During a hearing in March 2014, Sturgill moved to dismiss the charges, with a plan to possibly refile the case in the future.

Neither attorney shared concerns during the hearing that the allegations were outlandish or unbelievable. Instead, they pointed to the several-years delay in reporting by the alleged victim, and difficulty in obtaining records.

"There's a lot more that needs to be done with this case, and it's just not coming together," Sturgill said. "I'm getting resistance from DCFS and then there's other medical records that we're having some trouble gathering. A lot of it's due to just the age of this case. It's an extremely delayed disclosure."

Esplin sought unsuccessfully to have the case permanently dismissed, citing similar challenges that he believed would prevent his client from having a fair trial.

"Witnesses have passed away, records have been shredded, just because of the nature of the length of the time that's gone on," he said. "I don't believe this case will ever be ready to be tried."

Those charges were dismissed by my predecessor because the allegations were so untenable and unbelievable.David Leavitt, Utah County attorney general

Why the case was never refiled and what will happen with it now are questions that remain unanswered, but the sheriff says the current investigation has expanded beyond one case.

"We have new victims coming forward," he said.

The man once charged in the case has recently filed to have the court records expunged. The Attorney General's Office has filed an objection to the expungement request, saying, "The petitioner is currently the subject of an ongoing criminal investigation by four law enforcement agencies into the same conduct which was the basis of the 1999 arrest."

The Utah County Attorney's Office has also filed an objection.

Smith has said the current investigation will continue, regardless of whether the 2012 case is expunged.

Daniella Rivera joined the KSL team in September 2021. Shes an investigative journalist with a passion for serving the public through seeking and reporting truth.

See more here:
Courtroom audio sheds light on case at the heart of Utah County controversy - KSL.com

I have long puzzled over why Van Goghs paintings of his own chair and that of Gauguin were separated. They are so obviously a pair and Vincent must have expected them to hang together, facing each other.

Van Goghs Chair (November 1888-January 1889) was sold by Vincents sister-in-law Jo Bonger to the National Gallery in London in 1924. Gauguins Chair (November 1888) remained with the family, ending up at Amsterdams Van Gogh Museum on its establishment in 1973.

Splitting up the pair seems most unfortunate. It also struck me as surprising that Bonger had sold off her brother-in-laws own chair, rather than that of Gauguin, who was just a friend.

An answer comes in an article by Louis van Tilborgh, a senior researcher at the Van Gogh Museum, in the latest issue Simiolis, the quarterly journal of Dutch art history. In Van Gogh, Gauguin and Rembrandt he argues that Bonger took a dislike to Gauguinand wanted the painting of his chair hidden away.

This interpretation helps us see the two chair paintings in a fresh light. In his article, Van Tilborgh rejects some of the traditional interpretations of the pictures, focussing on Van Goghs artistic ambitions and his partnership with Gauguin.

The collaboration of the two artistswhich had started off with such high hopes, but ended in tragedyis illustrated by these two paintings. The men presumably both had their favourite chairs in the Yellow House, where they lived together in Arles for two months in the autumn of 1888.

Vincents own chair was a simple piece of rustic furniture with a straw-covered seat, reflecting something of his more austere personality. Gauguin had a comfortable armchair, depicted under gaslight, with a candle and two novels, suggesting a sophisticated man who enjoyed the evening hours. In a sense, the two pictures can be regarded as portraits of the artists.

Van Gogh began the paintings in mid-November 1888, when relations between them were still friendly. He finished Gauguins Chair and most of Van Goghs Chair within a few days. A month later their collaboration came to a terrible end, when during the evening of 23 December 1888 Vincent mutilated his ear. By this time serious tensions had developed between them. Gauguin quickly fled to Paris.

In January Van Gogh returned to the picture of his own chair, adding the pipe and tobacco on what had been an empty seat. Smoking, for him, represented consolation and relaxation, which was now much needed. He also included onions in the background, which presumably had a meaning for him, although their symbolism remains somewhat obscure. Finally, he prominently signed the picture, indicating that it was both his work and a representation of his personal seat.

Traditionally, art historians have regarded the two paintings as empty chairsand have linked them with the tensions that the artists were facing. But Van Tilborgh points out that in mid-November, when they were mostly done, relations were still collaborative. And when fully completed, he sees both chairs as not empty, but occupied and speaking of presenceone with Gauguins books and the other with Van Goghs pipe.

Vincent sent the two paintings to his brother Theo in Paris in April 1889. After Vincents suicide in July 1890 ownership passed to Theo and following Theos death in January 1891 to Bonger.

The publics first opportunity to see Van Goghs Chair came in 1905, when Bonger lent it to a major retrospective of the artists work in Amsterdam. Comprising nearly 500 works, it is still the largest Van Gogh show ever held. Although most of the important family paintings were lent, Gauguins Chair was not included.

Reproduction of Van Goghs Chair and cover of Vincent van Gogh: 40 Photocollographies daprs ses Tableaux et Dessins, Amsterdam (1905) Credit: Van Gogh Museum, Amsterdam

Van Goghs Chair (but not Gauguins Chair) was also included in an important portfolio of reproductions of the artists work which was published in 1905. From then onwards Van Goghs Chair was lent to ten other exhibitions up until the First World War, which meant it came to be regarded as a key work.

In December 1923, Bonger loaned Van Goghs Chair to the artists first one-man show in London, at the Leicester Galleries. A few weeks later it was bought by the National Gallery for just under 800, with funds provided by Samuel Courtauld.

But it was not until 1928 that Gauguins Chair was first publicly exhibited. This was three years after Bongers death, when the collection was managed by her son, Vincent Willem.

Van Tilborgh believes that Bonger resented Gauguin because after his friends suicide he had tried to claim credit for Van Goghs artistic innovations. One can also speculate she partly blamed Gauguin for Van Goghs tragic self-mutilation.

The first time the two chair paintings were brought together was at a Van Gogh show at Manchester Art Gallery in 1932. A newspaper article noted that the pair were among the most notable exhibits and were poignant with meaning, an indication that their importance was finally being recognised.

Manchester Evening Chronicle, 11 October 1932, with an article on the citys Van Gogh exhibition (a cutting in an album at Manchester Art Gallery) Credit: Manchester Art Gallery

These two still lifes reveal much about one of the most important collaborations in art history. Sadly, the paintings are now only rarely brought together.

Other Van Gogh news:

Now that the Hermitage Amsterdam has cut its links with the St Petersburg museum, following the Russian invasion of Ukraine, it has struck off on its ownwith Van Gogh. This is part of a fundamental rebranding, with the Hermitage dropping a m to become Heritage, with a focus on Dutch heritage.

Van Goghs The Yellow House (September 1888), at the far end of the room, in the rebranded Dutch Heritage Amsterdam Credit: The Art Newspaper

The Van Gogh Museum has offered an extremely generous loan, The Yellow House (September 1888). This single painting is displayed alone, at the far end of a huge gallery. In side rooms, there are displays of reproductions of Van Gogh's art and panels about his life, presented engagingly. With only a single original picture, even though a masterpiece, and a 15 ticket charge it is hardly attracting the crowds that flock to the nearby Van Gogh Museum. But supporting Heritage Amsterdam, which has taken decisive action over Ukraine, is a worthy cause.

Van Gogh is certainly in good company at Heritage Amsterdam. After The Yellow House returns home to the Van Gogh Museum it will be followed by Rembrandts last Self-portrait (1669) from the Mauritshuis in The Hague (28 June-24 July).

Martin Bailey is the author of Van Goghs Finale: Auvers and the Artists Rise to Fame (Frances Lincoln, 2021, available in the UK and US). He is a leading Van Gogh specialist and investigative reporter for The Art Newspaper. Bailey has curated Van Gogh exhibitions at the Barbican Art Gallery and Compton Verney/National Gallery of Scotland. He was a co-curator of Tate Britains The EY Exhibition: Van Gogh and Britain (27 March-11 August 2019).

Martin Baileys recent Van Gogh books

Bailey has written a number of other bestselling books, including The Sunflowers Are Mine: the Story of Van Gogh's Masterpiece (Frances Lincoln 2013, available in the UK and US), Studio of the South: Van Gogh in Provence(Frances Lincoln 2016, available in the UK and US) and Starry Night: Van Gogh at the Asylum (White Lion Publishing 2018, available in the UK and US). Bailey's Living with Vincent van Gogh: the Homes and Landscapes that Shaped the Artist (White Lion Publishing 2019, available in the UK and US) provides an overview of the artists life. The Illustrated Provence Letters of Van Gogh has been reissued (Batsford 2021, available in the UK and US).

To contact Martin Bailey, please email: vangogh@theartnewspaper.com. Please note that he does not undertake authentications.

Read more from Martin's Adventures with Van Gogh bloghere.

Original post:
New research sheds light on Van Gogh's problems with Gauguin, as revealed by the paintings of their favourite chairs - Art Newspaper

Illustration: Gabriella Turrisi/Axios

The fallout continues for Olive AI, the Columbus-based health tech startup that is shedding top talent amid reports the company overpromises benefits to clients, Erin Brodwin writes for Axios Pro.

Why it matters: The news threatens the company's status as the highest-profile startup in health care automation.

What they're saying: Current and former employees believe the company is dealing with internal culture problems while underdelivering on its promise to save health systems money using automation software.

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Local health tech startup Olive sheds more top talent - Axios

A prominent Pokemon leaker has shed some light on the evolution of Sprigatito, one of the three starters in Pokemon Scarlet and Pokemon Violet. When Pokemon fans begin one of the two Nintendo Switch games this November, they will have to make a choice between Sprigatito, Fuecoco, and Quaxly at the start of the game. The former of this trio, Sprigatito, is a grass cat Pokemon that apparently has a bipedal evolution, which is to say it will be standing on two legs rather than four.

The intel comes the way of Riddler Khu, a well-known leaker within the Pokemon community who most recently leaked the types of each game's cover legendary. In other words, the source in question has proven reliable and reputable in the past. Unfortunately, this is the extent of the information they have provided.

What is here should be taken with a grain of salt. While the source is a good one it doesn't change the fact that it's unofficial, and to an extent, subject to change as well.

At the moment of publishing, none of the implicated parties have addressed or acknowledged this leak. Game Freak and Nintendo rarely budge on their "no comment" policies, but if either does, we will be sure to update the story accordingly.

Pokemon Scarletand Pokemon Violet are both set to release worldwide on November 18, 2022 via Nintendo Switch, Nintendo Switch Lite, and Nintendo Switch OLED.

"The newest chapters in the Pokemon series, the Pokemon Scarlet and Pokemon Violet games, are coming to the Nintendo Switch system later this year. As the main character, you can explore a wide-open world at your own pace, and can encounter the Legendary Pokemon Koraidon. In these games, you'll be able to enjoy the iconic adventures of the Pokemon series, like battling against wild Pokemon and trying to catch them! Choose either Sprigatito, the Grass Cat Pokemon, Fuecoco, the Fire Croc Pokemon, or Quaxly, the Duckling Pokemon to be your first partner Pokmon before setting off on your journey through this new region."

For more coverage on all things Pokemon -- including not just the latest rumors, leaks, and speculation, but the latest official rumors as well -- click here.

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Pokemon Scarlet and Violet Leaker Sheds Light on Starter Evolution - ComicBook.com

As every investor would know, you don't hit a homerun every time you swing. But serious investors should think long and hard about avoiding extreme losses. So spare a thought for the long term shareholders of Shapeways Holdings, Inc. (NYSE:SHPW); the share price is down a whopping 86% in the last twelve months. That'd be a striking reminder about the importance of diversification. Shapeways Holdings may have better days ahead, of course; we've only looked at a one year period. The falls have accelerated recently, with the share price down 40% in the last three months. We note that the company has reported results fairly recently; and the market is hardly delighted. You can check out the latest numbers in our company report. While a drop like that is definitely a body blow, money isn't as important as health and happiness.

Since Shapeways Holdings has shed US$8.8m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.

View our latest analysis for Shapeways Holdings

Shapeways Holdings isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. When a company doesn't make profits, we'd generally expect to see good revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size.

Shapeways Holdings' revenue didn't grow at all in the last year. In fact, it fell 0.8%. That looks pretty grim, at a glance. The share price fall of 86% in a year tells the story. Holders should not lose the lesson: loss making companies should grow revenue. But markets do over-react, so there opportunity for investors who are willing to take the time to dig deeper and understand the business.

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

Take a more thorough look at Shapeways Holdings' financial health with this free report on its balance sheet.

Shapeways Holdings shareholders are down 86% for the year, even worse than the market loss of 16%. There's no doubt that's a disappointment, but the stock may well have fared better in a stronger market. The share price decline has continued throughout the most recent three months, down 40%, suggesting an absence of enthusiasm from investors. Basically, most investors should be wary of buying into a poor-performing stock, unless the business itself has clearly improved. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For example, we've discovered 3 warning signs for Shapeways Holdings (1 is concerning!) that you should be aware of before investing here.

If you are like me, then you will not want to miss this free list of growing companies that insiders are buying.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Loss-making Shapeways Holdings (NYSE:SHPW) sheds a further US$8.8m, taking total shareholder losses to 86% over 1 year - Simply Wall St

Investing in stocks comes with the risk that the share price will fall. And unfortunately for Unity Software Inc. (NYSE:U) shareholders, the stock is a lot lower today than it was a year ago. In that relatively short period, the share price has plunged 59%. Because Unity Software hasn't been listed for many years, the market is still learning about how the business performs. The falls have accelerated recently, with the share price down 48% in the last three months.

After losing 6.5% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.

See our latest analysis for Unity Software

Because Unity Software made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Shareholders of unprofitable companies usually expect strong revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth.

In the last year Unity Software saw its revenue grow by 42%. We think that is pretty nice growth. Meanwhile, the share price tanked 59%, suggesting the market had much higher expectations. It may well be that the business remains approximately on track, but its revenue growth has simply been delayed. To our minds it isn't enough to just look at revenue, anyway. Always consider when profits will flow.

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

Unity Software is a well known stock, with plenty of analyst coverage, suggesting some visibility into future growth. You can see what analysts are predicting for Unity Software in this interactive graph of future profit estimates.

We doubt Unity Software shareholders are happy with the loss of 59% over twelve months. That falls short of the market, which lost 14%. There's no doubt that's a disappointment, but the stock may well have fared better in a stronger market. With the stock down 48% over the last three months, the market doesn't seem to believe that the company has solved all its problems. Given the relatively short history of this stock, we'd remain pretty wary until we see some strong business performance. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For instance, we've identified 4 warning signs for Unity Software that you should be aware of.

Of course Unity Software may not be the best stock to buy. So you may wish to see this free collection of growth stocks.

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Continued here:
Investors one-year losses grow to 59% as the stock sheds US$844m this past week - Simply Wall St

A truck has been left damaged after it overturned and shed its load in Salford.

The vehicle tipped onto its side on Langley Road this morning (Saturday). The road has been closed off by officers while the scene is cleared, police said.

GMP Traffic tweeted two pictures from the scene. They showed the front windscreen of the truck left completely smashed.

READ MORE: One person taken to hospital after double-decker bus crashes into building

The pictures also showed the load from the lorry left strewn across the road. There appeared to be one fire engine at the scene, as well as multiple police vehicles.

Alongside the tweet, an officer wrote: "XT11, ME11 & XT51 currently on Langley Rd, Salford with an overturned vehicle. The road is closed for the next 30 minutes or so while the vehicle is removed. Thanks for your patience."

Read more of today's top stories here

View original post here:
Truck overturns and sheds its load with police at the scene and road closed - Manchester Evening News

Home Depot (HD -3.54%) and Lowe's (LOW -4.09%) were beneficiaries of a massive shift in consumer spending at the pandemic's onset. Forced to work, learn, and entertain at home, people spent on home improvement en masse. With major COVID restrictions lifted, consumer spending is shifting again.

Home Depot and Lowe's latest results reveal that inflation is biting into budgets and slowing sales growth.

Home Depot's fiscal 2022 first quarter ended on May 1. During that period, net sales increased 3.8% year over year to $38.9 billion. That marks a considerable slowdown from the 32.7% top-line growth it logged in the same quarter last year. CEO and president Ted Decker commented, "The solid performance in the quarter is even more impressive as we were comparing against last year's historic growth and faced a slower start to spring this year." People were spending a lot more time indoors during the year-ago period, so they looked to improve their living spaces.

Rival Lowe's experienced a similarly drop in sales momentum in its most recent quarter (ended April 29), when it reported sales decreased 3.1% year over year. This time last year, Lowe's posted revenue growth of 24.1%.

So both home improvement retailers have reported a sudden deceleration to their robust growth. That development suggests consumers are shifting their attention (and spending) to other categories like dining and travel. Additionally, the retailers' results indicate inflation is taking its toll on consumer demand overall.

For instance, in its latest quarter, Lowe's reported the average customer transaction value increased 9.3% year over year. Meanwhile, the number of transactions declined 13.1%. Similarly, Home Depot reported average ticket size increased 11.4%, while the number of transactions decreased 8.2%.

As consumers observe businesses raise prices on everything from home improvement supplies to fuel, they're reining back some of their spending. According to the Bureau of Labor Statistics, the consumer price index jumped 8.3% in April. The U.S. has not seen these levels of inflation in decades. It's not surprising that people are hesitating before pulling out their wallets.

That said, investors should proceed with caution. The coronavirus pandemic has created ripple effects, reducing various industries' capacity to meet customer demand. That mismatch between supply and demand has put upward pressure on prices, fueling inflation.

Regardless, when investors try to buy and sell in response to perceived economic changes, market timing is nearly impossible to implement effectively. The superior strategy is to buy a diversified basket of stocks and hold them for five years or longer. Investors should not panic and sell their investments right now.

Here is the original post:
Home Depot and Lowe's Just Shed Light on the Broader Economy. Should Investors Worry? - The Motley Fool