In the basement kitchen of the Churchill War Rooms in London, Maree Harrison and her chefs bake hundreds of flapjacks a month for catered events using the same Golden Syrup favored by Queen Elizabeth. Soon, they may need to change the recipe.
Sugar shipments from India, the world’s second-largest producer, are poised to climb as the biggest monthly gain in prices since 2011 and a state subsidy help mills compete with supplies from Brazil and Thailand.
U.S. Secretary of State John Kerry arrived today in Kiev promising to guarantee $1 billion in loans to Ukraine’s embattled leaders as President Barack Obama challenged Russian President Vladimir Putin’s assertion of a right to intervene militarily.
The U.S. administration is preparing sanctions to punish Russia for its military action in Crimea and will announce an assistance package aimed at bolstering the fledging Ukrainian government, officials said.
Russia’s military intervention in Ukraine threatens to derail energy exploration in a region that holds a quarter of the world’s natural gas reserves, weigh on currencies and force companies to work to contain the damage.
The Ukraine crisis jeopardizes President Barack Obama’s efforts to enlist Russia’s cooperation on a range of issues, including seeking an end to Syria’s civil war, halting Iran’s nuclear ambitions and facilitating the withdrawal of U.S. and allied forces from Afghanistan.