PepsiCo is one of the largest food and beverage producers in the world. Credit: pixinoo // Shutterstock.comEighteen of the world’s largest food and beverage companies made an average of $14bn in windfall profits in the last two years, according to a new report by the charities Oxfam and ActionAid. Food and drink companies, however, also saw huge increases, as global food prices to consumers rose (+14% in 2022 alone). They said a 50-90% on the windfall profits of the 722 corporations could generate between $523bn and $941bn annually. Governments must tax windfall profits of corporations across all sectors – and invest that money back in helping people and deterring future profiteering.

Source: Forbes July 06, 2023 12:48 UTC