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Two Financial Times reports from around the world highlighted the impact of the coronavirus and the severe pressure on global food production from the war in Ukraine.

In China, the strict Covid lockdown is exacerbate shortages Fertilizer, labor and seeds ahead of the critical spring planting season. The worst affected are northeastern Jilin, Liaoning and Heilongjiang provinces, which together account for more than 20 percent of the country’s grain output.

In the UK, a new parliamentary report says British food industry Labour shortages caused by the double whammy of coronavirus and Brexit could shrink permanently if the government fails to address it. These shortages could lead to “increased wages, higher prices, lower competitiveness, and ultimately food exports abroad and increased imports,” the report said.

Farmers are under pressure across Europe The Ukraine crisis has made things worse as the cost of animal feed, fertilizer and fuel has soared. Half of the EU’s corn comes from Ukraine, and a third of its fertilizer comes from Russia.

“These are the four Fs: feed, fertilizer, fuel and financing. The war in Ukraine has had a huge knock-on effect on farmers,” said a grain trader.

Brussels is relaxing state aid rules to support EU farmers and allowing access to a 500 million euro crisis fund, but final approval needs to be approved by governments and the European Parliament, a process that could take weeks.

Arabian countries It has also been badly affected, especially in countries such as Lebanon, where 70% of its wheat imports come from Ukraine. Egypt is the world’s largest wheat importer and relies on Russia and Ukraine for more than 80% of its wheat purchases on the international market.

Fertilizer prices, which hit record levels last month, are increasingly worrying. Russia is a major exporter of nitrogen, phosphate and potash fertilizers.It’s also made worse by the lack of competition U.S. fertilizer industry.

World Trade Organization President Ngozi Okonjo-Iweala recently told the Financial Times that governments risk repeating the mistakes of earlier food crises Implement export controls As commodity and energy prices spiral upward. She urged governments with excess stocks of products such as vegetable oils and grains to release them on world markets.

United Nations food price index It’s already up 24% from a year ago, and it’s set to rise further. That means higher grocery bills in wealthier countries already hit by the highest inflation in decades. But in poorer countries, FT Editorial Board Note that higher prices mean disaster. Given how badly the world has done a fair job of distributing vaccines, it does not bode well for how it will respond to a food crisis.

The Financial Times noted that Nobel economist Amartya Sen has said that famines cannot happen in democracies because of the free flow of information and the ensuing public outrage. “But democracy is increasingly under attack,” it concluded. “Putin is the latest aggressor. Unless he is stopped, starvation will follow.”

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Need to Know: Economics

the value of global transaction Ukraine crisis hits, down 2.8% in February-March container transportation, according to the new data. In addition to affecting Russia and Ukraine, the war has hit the European Union hard, with exports down 5.6% and imports down 3.4% in March. In the US, exports fell 3.4% and imports fell 0.6%, with a negligible impact on China.

Latest UK and European

chief economic commentator Martin Wolf Say it’s time to restrict imports Gazprom, arguing that while the impact on Europe may be large, it is exaggerated.New estimates show Turn down the thermostat 1C-2C could reduce reliance on Russian gas by almost 10% in European residential and commercial buildings.

The current sanctions have not been reduced crude oil tanker Leave Russia, especially those heading to major Indian markets.Other options discussed by EU ministers today include banning Russian coal imports.

The UK is creating a new agency to take over some of the responsibilities of the UK government State Grid Oversee the nation’s energy system as it far Fossil fuels. The announcement comes ahead of a broader energy security announcement tomorrow.

The way workers are reacting to industry trends, says new FT columnist Stephen Bush hospitablesuch as staying away from cash tips, for political development.

The latest in the world

inflation reach in OECD countries 30-year high Even before the Ukraine crisis delivered a fresh shock to the global economy, growth in February was 7.7%, with energy and food prices to blame.Higher inflation looks set to persist, causing long-term problems for central banks and the possibility of ‘Dangerous wage-price spiral’.

Fed Governor Lyle Brainard say the bank will start “rapid” reduction Shrink its balance sheet as soon as May and take “stronger” action to lower inflation by raising interest rates. There should be more hints in the minutes of the Fed’s last policy meeting, due later today.

America Serve Department grow up in march As the effects of the coronavirus Omicron variant begin to fade. American motoristsat least so far, they seem to be taking the $4-a-gallon hit in stride, Justin Jacobs in our energy source communication.

Compared with the United States, service sector activity is China As the country grapples with worst-case scenarios, it shrinks the most since the start of the pandemic Infection outbreak so far.

more than Covid doses for 100 million children Will include 1.2 billion vaccine commitments in the U.S. poorer countries. The U.S. Senate is nearing a deal on an additional $10 billion to help fight the pandemic.

This World Bank Lower economic growth forecast East Asia and the Pacific This year, it fell from 5.4% to 5% as the war in Ukraine and a slowdown in China hit commodity markets.

political chaos growing Sri Lanka The resignation comes just 24 hours after the country’s new finance minister took office. A wave of protests over energy blackouts, soaring prices and shortages first hit the government of strongman President Gotabaya Rajapaksa last month.The country is facing foreign exchange crisis Its currency has fallen to record lows.

Need to Know: Business

According to the Financial Times, EU sanctions list will include Herman Graveshead of Russia’s largest bank, aluminum oligarch Oleg Deripaska.

Britain will be Uber’s “Super App” push, which will add trains, coaches, flights and possibly hotels to its car booking service to “Seamless door-to-door experience”. The tech industry and its drive for innovation feature prominently in our annual rankings Fastest Growing Company in the Americas.

shell Not paying taxes on its oil and gas production British North Sea For the fourth year in a row, even with soaring fuel prices. Instead, the company received $121 million in rebates from the U.K. government for decommissioning old oil platforms.

new car sales UK hits lowest level since 1998 semiconductor crisis Sag output.Shortages, which are not expected to ease until next year, have also changed second-hand marketpushing used car prices higher than new models. public is moving away from its “people’s car” origins, phasing out dozens of models to focus on the more profitable, Premium Vehicle.

CEO of Pfizer, BioNTech and modern received together more than $100 million salary Reflecting the huge commercial success of their mRNA Covid-19 vaccine during the pandemic. Shares of Pfizer have risen 60% over the past 24 months, while shares of BioNTech and Moderna have tripled and fivefolded, respectively.In China, shares traditional medicine Shares soar after Hong Kong promotion Covid-19 Treatment.

UK wants to be ‘global hub’ cryptocurrency Obtained once from FT Alphaville Jemima Kelly. See also our Great Read on Blockchain and Financial Markets: Will computers crowd out brokers?

the world of work

Columnist Sarah O’Connor writes that the experience of “essential workers” during the pandemic shows that robots won’t solve problems like a shortage of truck drivers.In this case, the union organizer AmazonNew York warehouse could mark a turning point American labor movementshe argued.

in our new version work it Podcast, O’Connor and Taylor Nicole Rogers discuss big resignation And why millions have quit their jobs, reduced their workloads or declared themselves against work.

Our Working It newsletter launches today and you can see the first On our website, you can also sign up to receive it every Wednesday.

Our annual survey finds The healthiest workplaces in the UK Yes open for nominations. Invite employees to showcase what they are doing to improve the physical and mental well-being of their employees and share their best practices for improving well-being.

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finally. . .

Want to replace those city sidewalks with hills and fields?Find out how FT journalist and avid urban runner Laura Noonan trail run retreat.