Connect with us

Published

on

close video Egg prices skyrocket across the country

FOX Business correspondent Lydia Hu has the latest on the impact of the avian bird flu on ‘America’s Newsroom.’

Consumers' wallets have been impacted by skyrocketing inflation in the U.S. this past year.

The latest concern is eggs, the price of which was up 138% in December from a year prior, to $4.25 a dozen, according to the Bureau of Labor Statistics.

A farm group is calling on the Federal Trade Commission (FTC) to examine the rise for signs of price gouging from top egg companies.

Various groups from regulators to farmers and industry officials have often argued in recent years about the power of top agriculture firms to set prices and drive up what consumers pay for groceries.

'SKY-HIGH' EGG PRICES: A HISTORICAL LOOK AT EGG COSTS SINCE 1980

A shopper checks eggs before he purchases at a grocery store in Glenview, Illinois. Border officials are seeing more seizures of eggs amid soaring prices and inflation. (AP Photo/Nam Y. Huh / AP Newsroom)

The nation's antitrust regulator should examine record-high profits at the top egg company, said Farm Action on Thursday in a letter to FTC chair Lina Khan.

That egg producer is Cal-Maine Foods, which controls 20% of the retail egg market.

Quarterly sales at Cal-Maine were up 110% and gross profits up more than 600% over the same quarter in the prior fiscal year, according to a regulatory filing.

The company pointed to decreased egg supply nationwide due to avian flu driving up prices as a reason for its record sales.

Half-empty shelves of eggs are seen at a supermarket on Jan. 8, 2023 in Los Angeles, California. (I RYU/VCG via Getty Images / Getty Images)

EGG PRICES RISE MORE THAN 64% IN SOME STATES

The U.S. Department of Agriculture (USDA) also pointed to a record outbreak of avian flu as a reason for the high prices.

Nearly 58 million chickens and turkeys have been killed by avian flu or to control the spread of the virus since the beginning of 2022, mostly in March and April, according to the USDA. 

U.S. egg production was about 5% lower in October compared to last year, and egg inventories were down 29% in December compared to the beginning of the year, a significant drop, but one that may not explain record-high prices, said Basel Musharbash, an attorney with Farm Action.

Cartons of eggs sit in a freezer at a supermarket on Jan. 8, 2023 in Los Angeles, California. (I RYU/VCG via Getty Images / Getty Images)

US BORDER AUTHORITIES REPORT INCREASE IN EGG SMUGGLING 

"We want the FTC to dig in and see if consumers are being price gouged," Musharbash said.Ticker Security Last Change Change % CALM CAL-MAINE FOODS INC. 54.67 -1.05 -1.88%

In a statement to Reuters, Cal-Maine said that higher production costs are also a factor in higher prices.

The American Egg Board, an egg marketing group, said in a statement that egg prices reflect a variety of factors and that wholesale egg prices are beginning to fall.

FOX Business has reached out to the FTC for comment.

Continue Reading

Entertainment

MasterChef presenter John Torode sacked

Published

on

By

MasterChef presenter John Torode sacked

MasterChef presenter John Torode will no longer work on the show after an allegation he used an “extremely offensive racist term” was upheld, the BBC has said.

His co-host Gregg Wallace was also sacked last week after claims of inappropriate behaviour.

On Monday, Torode said an allegation he used racist language was upheld in a report into the behaviour of Wallace. The report found more than half of 83 allegations against Wallace were substantiated.

Torode, 59, insisted he had “absolutely no recollection” of the alleged incident involving him and he “did not believe that it happened,” adding “racial language is wholly unacceptable in any environment”.

John Torode and Gregg Wallace in 2008. Pic:PA
Image:
John Torode and Gregg Wallace in 2008. Pic: PA

In a statement on Tuesday, a BBC spokesperson said the allegation “involves an extremely offensive racist term being used in the workplace”.

The claim was “investigated and substantiated by the independent investigation led by the law firm Lewis Silkin”, they added.

“The BBC takes this upheld finding extremely seriously,” the spokesperson said.

“We will not tolerate racist language of any kind… we told Banijay UK, the makers of MasterChef, that action must be taken.

“John Torode’s contract on MasterChef will not be renewed.”

Australian-born Torode started presenting MasterChef alongside Wallace, 60, in 2005.

Please use Chrome browser for a more accessible video player

Why Gregg Wallace says he ‘will not go quietly’

A statement from Banijay UK said it “takes this matter incredibly seriously” and Lewis Silkin “substantiated an accusation of highly offensive racist language against John Torode which occurred in 2018”.

“This matter has been formally discussed with John Torode by Banijay UK, and whilst we note that John says he does not recall the incident, Lewis Silkin have upheld the very serious complaint,” the TV production company added.

“Banijay UK and the BBC are agreed that we will not renew his contract on MasterChef.”

Read more from Sky News:
BBC reveals highest-earning stars
Men who cut down Sycamore Gap tree locked up
Couple murdered two-year-old grandson

Earlier, as the BBC released its annual report, its director-general Tim Davie addressed MasterChef’s future, saying it can survive as it is “much bigger than individuals”.

Please use Chrome browser for a more accessible video player

BBC annual report findings

Speaking to BBC News after Torode was sacked, Mr Davie said a decision is yet to be taken over whether an unseen MasterChef series – filmed with both Wallace and Torode last year – will be aired.

“It’s a difficult one because… those amateur chefs gave a lot to take part – it means a lot, it can be an enormous break if you come through the show,” he added.

“I want to just reflect on that with the team and make a decision, and we’ll communicate that in due course.”

Mr Davie refused to say what the “seriously racist term” Torode was alleged to have used but said: “I certainly think we’ve drawn a line in the sand.”

In 2022, Torode was made an MBE in the Queen’s Birthday Honours, for services to food and charity.

Continue Reading

Politics

Programmable regulation is the missing key to DeFi’s legal future

Published

on

By

Programmable regulation is the missing key to DeFi’s legal future

Programmable regulation is the missing key to DeFi’s legal future

Programmable regulation could be the solution to legacy regulatory frameworks struggling to keep pace with DeFi’s rapidly evolving ecosystems. Embedding compliance in code can bring legal clarity, reduce risk and foster innovation in DeFi.

Continue Reading

UK

MasterChef presenter John Torode sacked

Published

on

By

MasterChef presenter John Torode sacked

MasterChef presenter John Torode will no longer work on the show after an allegation he used an “extremely offensive racist term” was upheld, the BBC has said.

His co-host Gregg Wallace was also sacked last week after claims of inappropriate behaviour.

On Monday, Torode said an allegation he used racist language was upheld in a report into the behaviour of Wallace. The report found more than half of 83 allegations against Wallace were substantiated.

Torode, 59, insisted he had “absolutely no recollection” of the alleged incident involving him and he “did not believe that it happened,” adding “racial language is wholly unacceptable in any environment”.

John Torode and Gregg Wallace in 2008. Pic:PA
Image:
John Torode and Gregg Wallace in 2008. Pic: PA

In a statement on Tuesday, a BBC spokesperson said the allegation “involves an extremely offensive racist term being used in the workplace”.

The claim was “investigated and substantiated by the independent investigation led by the law firm Lewis Silkin”, they added.

“The BBC takes this upheld finding extremely seriously,” the spokesperson said.

“We will not tolerate racist language of any kind… we told Banijay UK, the makers of MasterChef, that action must be taken.

“John Torode’s contract on MasterChef will not be renewed.”

Australian-born Torode started presenting MasterChef alongside Wallace, 60, in 2005.

Please use Chrome browser for a more accessible video player

Why Gregg Wallace says he ‘will not go quietly’

A statement from Banijay UK said it “takes this matter incredibly seriously” and Lewis Silkin “substantiated an accusation of highly offensive racist language against John Torode which occurred in 2018”.

“This matter has been formally discussed with John Torode by Banijay UK, and whilst we note that John says he does not recall the incident, Lewis Silkin have upheld the very serious complaint,” the TV production company added.

“Banijay UK and the BBC are agreed that we will not renew his contract on MasterChef.”

Read more from Sky News:
BBC reveals highest-earning stars
Men who cut down Sycamore Gap tree locked up
Couple murdered two-year-old grandson

Earlier, as the BBC released its annual report, its director-general Tim Davie addressed MasterChef’s future, saying it can survive as it is “much bigger than individuals”.

Please use Chrome browser for a more accessible video player

BBC annual report findings

Speaking to BBC News after Torode was sacked, Mr Davie said a decision is yet to be taken over whether an unseen MasterChef series – filmed with both Wallace and Torode last year – will be aired.

“It’s a difficult one because… those amateur chefs gave a lot to take part – it means a lot, it can be an enormous break if you come through the show,” he added.

“I want to just reflect on that with the team and make a decision, and we’ll communicate that in due course.”

Mr Davie refused to say what the “seriously racist term” Torode was alleged to have used but said: “I certainly think we’ve drawn a line in the sand.”

In 2022, Torode was made an MBE in the Queen’s Birthday Honours, for services to food and charity.

Continue Reading

Trending