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People in the Czech Republic have been paying more for electricity than citizens of any other country in Europe, according to a new report from Eurostat.  As Yookee reports, Germans, for example, are paying 37% less for electricity than the average Czech.  “After accommodating for the purchasing power of each currency to allow for country-to-country comparisons, this is by the highest price in all of Europe. This is almost one-fifth more expensive, after conversion according to purchasing power parity of the local currency, than the second-highest electricity price in the E.U,” said Lukáš Kovanda, chief economist from Trinty Bank. According to the Eurostat data, the average Czech household was paying about 4.66 CZK per kilowatt-hour last year, and consumed betweenContinue Reading

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British retail chain Marks & Spencer has announced it will be closing all its stores in the Czech Republic because COVID-19-related measures and now complications from Brexit have made doing business impossible.  Since the beginning of the COVID-19 restrictions, M&S had only been selling food at most of its locations and cutting off much of its clothing and other retail goods sections.  On top of being forced to only sell “essential” items, the chain was also having trouble with importing goods from the UK, citing difficulties with Brexit. On Monday, customers noticed that most of the imported foods were replaced with Czech products, and large signs adorned the shelves saying, “We’re sorry that some of your favourite foods are notContinue Reading