Companies are innocent, by Jaume Puig

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In the first half of 2023 we have held 158 meetings with listed companies from 13 different countries and from very diverse sectors. A recurring question we have asked them has been about whether they were going to modify their pricing policy. It is pertinent, since although labor costs are increasing, many other costs have fallen sharply. This is the case of raw materials, energy costs or container transport. I summarize the generic position of the companies in the forceful response that one of them gave me: “In our decades of existence, we have never lowered the sales price, ever.” This positioning contributes to the current great strength of business margins and profits, which are beginning to be recognized by the strong increases in the stock market.

Companies to blame for high underlying inflation? View of the Madrid Stock Exchange EFE/Vega Alonso del Val While it is true that companies are finding it easier to maintain their high margins in 2023 than in 2022, given that Job Function Email Database then they needed to implement an active policy of strong price increases, which is unnecessary today, they cannot be blamed for inflation. The great strength of demand, especially for services, nor the outbreak of war, nor the great pre-pandemic monetary expansion are attributable to them. Companies are just being cautious, and not just with their prices. Thus, companies proliferate that moderately increase their productive capacity, financing it with the cash flow they generate. On the other hand, few companies undertake massive projects financed with debt. This caution is the best guarantee of the continuity of the business boom.



Authorities said five other firefighters were injured, one suffered “burns from water vapor accumulated on the floor of the cargo ship” and the other four, two from Newark and two from neighboring Elizabeth, experienced things like heat exhaustion, inhalation smoke and respiratory distress. Public safety officials said the three Newark fire captains were released from the hospital and the burn victim was in stable condition and completing her recovery at home. Authorities say an investigation to determine the cause of the fire cannot begin until the fire is out. Officials said "a salvage plan will be developed and implemented once the fire is extinguished and the vessel is deemed safe to move.