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☆ Top CEOs fear that volatile supply chains are now just the new normal
▼ + stars: | 2024-01-19 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Kristian Helgesen | Bloomberg | Getty ImagesDAVOS, Switzerland — Top CEOs are closely following tensions in the Red Sea, warning that this kind of volatility for supply chains is likely here to stay. Houthi rebels from Yemen have attacked commercial vessels traveling in the Red Sea since November. Supply chains were massively disrupted during the pandemic and the subsequent bounce back, given the restrictions and the closure of borders. Tobias Meyer, the CEO of DHL, shared concerns over the new normal for supply chains. "We have an issue in the Panama Canal, we have an issue in the Red Sea.

Persons: Ebba, A.P ., Kristian Helgesen, Jesper Brodin, Brodin, Tobias Meyer Organizations: A.P, A.P . Moeller, Maersk, Bloomberg, Getty, Ingka, CNBC, Economic, IKEA, DHL Locations: Suez, Egypt, DAVOS, Switzerland, Red, Yemen, Iran, Gaza, United States, Hope, Africa, Asia, Europe, Davos, Panama

☆ UKMTO, Ambrey Receive Reports of Ship Attack Near Yemen's Aden
▼ + stars: | 2024-01-17 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

CAIRO (Reuters) - The United Kingdom Maritime Trade Operations (UKMTO) organization and British maritime security firm Ambrey said on Wednesday they had received reports of a incidents near Yemen's Aden. The United Kingdom Maritime Trade Operations (UKMTO) organization said in an advisory note that a ship had been attacked 60 nautical miles southeast of Aden. "Vessel and crew are safe and proceeding to next port of call", UKMTO later added in an updated advisory. Ambrey said that a Marshall Islands-flagged bulk carrier was hit by an unmanned aerial vehicle (UAV) 66 miles southeast of Aden as it was heading east along the Gulf of Aden. "The vessel's gangway incurred damage, and at the time of writing it was deemed not usable", Ambrey added in its advisory note.

Persons: Ambrey, UKMTO, Yomna Ehab, Muhammad Al Gebaly, Chris Reese, Sandra Maler Organizations: United Kingdom Maritime Trade Operations Locations: CAIRO, British, Yemen's Aden, Aden, Marshall, Yemen, Gaza, Africa

☆ You don't need to buy a $8 Blue Zone frozen meal. Here's how to make your own for under $2 a serving.
▼ + stars: | 2024-01-16 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

The Blue Zones meals were tasty and convenient but left me hungryThis is not enough lunch for me. One of the most exciting discoveries in Blue Zones research is that the ingredients linked to longevity aren't expensive , exotic, or hard to prepare, and they are satiating too. The Blue Zones Kitchen Minestrone Casserole is currently on sale at Whole Foods for $6.99, almost five times that price. Building flavor for healthy food you'll actually be excited to eat is also easier than you might think. All in all, I'm thrilled we have the option for Blue Zones cooking to-go, but am still hungry for more.

Persons: —, Hilary Brueck, Gabby Landsverk, she's, Dan Buettner, I've, Casserole, you've, I'm Organizations: Service, Business, Foods Locations: Italy, Greece, Japan, Costa Rica, Okinawa

☆ US, Britain Carry Out Strikes Across Yemen in Retaliation for Houthi Attacks
▼ + stars: | 2024-01-11 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +6 min

A U.S. official said more than a dozen locations were targeted in strikes that were not just symbolic but intended to weaken the Houthis' military capabilities. The United States and allies had deployed a naval task force to the area in December, and the situation had escalated in recent days. U.S. Defense Secretary Lloyd Austin, who is in hospital due to surgery complications, said in a statement that the strikes targeted Houthi drones, ballistic and cruise missiles, costal radar and air surveillance. The United States also accused Iran of being involved operationally in the Houthi attacks, providing the military capabilities and intelligence to carry them out. The United States has troops on the ground in Syria and Iraq, and has previously retaliated for attacks there by Iran-backed groups.

Persons: Phil Stewart, Idrees Ali, Mohammed Ghobari WASHINGTON, Joe Biden, Houthis, Sanaa, Ali Ahmad, Mahmoud, James Heappey, Brent, Lloyd Austin, Tesla, Andreas Krieg, Andrew Mills, Maher Hatem, Jeff Mason, Kanishka Singh, Eric Beech, Peter Graff, Angus MacSwan Organizations: British, U.S, Hamas, U.S . Defense, Washington, King's College, United, West Bank Locations: ADEN, Yemen, Iran, Gaza, Sanaa, Taiz, Hodeidah, Hajjah governorate, United States, Israel, Europe, Asia, U.S, Britain, Africa, Germany, London . Saudi Arabia, U.N, Lebanon, Syria, Iraq, Washington, Doha, Dubai

☆ Spotify layoffs: Company to cut 17% of jobs
▼ + stars: | 2023-12-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Spotify is not an exception to these realities,” Ek wrote in a letter to staff posted to the company’s website. And in June, Spotify cut 200 employees from its podcasting unit. Despite adding 6 million subscribers in the June-to-September period — 2 million more than the company had forecast — Spotify eked out a profit of just €32 million ($34.8 million) in that time. That was up from a loss of €228 million ($248 million) in the same period last year. The company has 226 million subscribers in total.

Persons: Daniel Ek, ” Ek, headcount, Daniel Ek Drew Angerer, Ek, “, ” Organizations: London CNN, Spotify, Microsoft

WHAT'S HAPPENED SINCE THE LAST ONEThe world has gotten hotter since last year’s conference in Egypt. Burning fossil fuels that sends carbon into the atmosphere remains the main cause of global warming, and production continues to grow. Climate campaigners say efforts to develop wind, solar and other alternative energies are not going fast enough. Global warming has vast implications: It can upend local economies, worsen weather patterns, drive people to migrate, and cause havoc for Indigenous peoples who want to retain their traditional cultures, among many other impacts. Many want to know if oil-rich Gulf states will pony up more money to help developing countries adapt to climate change and switch to greener technologies.

Persons: ”, Petteri Taalas, Daniel, Hurricane Otis pummeled, King Charles, Narendra Modi, John Kerry, Olaf Scholz, Pope Francis, Sultan al, Jaber, Antonio Guterres Organizations: United Arab Emirates, Hamas, United, 28th “ Conference, Hurricane Otis, Indian, Cargill, AP Locations: DUBAI, United Arab, Israel, Dubai, United Arab Emirates, COP28, WHAT'S, Egypt, Brazil, India, Libya, Hurricane Otis pummeled Mexico, Europe, Paris, Abu Dhabi, Tokyo, Tegucigalpa, Timbuktu, Ukraine, Gaza, Antarctica, Argentina, Uruguay, ___

[1/10] Cadets of Military Institute of Taras Shevchenko National University take part in a swearing-in ceremony at the National Museum of the History of Ukraine in the Second World War, amid Russia's attack on Ukraine, in Kyiv, Ukraine September 8, 2023. "We want Ukraine to win, but not through the efforts of the same people," she said in an interview at her home in Kyiv. Women on the home front have also had to become stronger, she added: "But at what cost did we become stronger?" Only Ukrainian men aged between 27 and 60 can be mobilised by draft officers. Ukraine, which has said it has about 1 million people under arms, has barred military-age men from going abroad.

Persons: Viacheslav, Antonina Danylevych's, Danylevych, Oleksandr, who's, they're, Volodymyr Zelenskiy, Zelenskiy, Dyma Cherevychenko, Oksen Lisovyi, Ben Wallace, Zelenskiy's, David Arakhamia, Anton Hrushetskyi, We'd, Hrushetskyi, couldn't, Charlotte Bruneau, Thomas Peter, Tom Balmforth, Mike Collett, White Organizations: of Military Institute, Taras Shevchenko National University, National Museum of, REUTERS, Army, Russian, shirk, Economist, dodgers, Reuters, Education, Facebook, Telegraph, Trust, Kyiv International Institute of Sociology, Thomson Locations: Ukraine, Kyiv, KYIV, Ukrainian, Russian, Bakhmut, Kyiv's, United States, Russia, Romania

A lot of the spending was driven by deals and buy-now, pay-later programs. The Fed’s “beige book” report on the economy is out on Wednesday, and that will show how inflation is affecting businesses and consumers. But consumers continue to express concern over inflation that has left overall prices higher by about 18% since 2021. “With inflation falling as the Fed keeps rates unchanged, real interest rates continue to tighten,” said Richard de Chazal, macro analyst at William Blair. But consumers remain concerned about inflation and just how much will be seen on Tuesday when the Conference Board releases its consumer confidence index for November.

Persons: SpendingPulse, ”, Vivek Pandya, Signifyd, Richard de Chazal, William Blair, “ Organizations: Adobe Analytics, Adobe Digital, Consumers, Retailers, Federal Reserve, Fed, Wells, ”, Conference Board

Ustrell is one of scores of European winemakers struggling to grow enough grapes as extreme and unseasonable weather becomes more commonplace. Falling prices, rising costsAcross the border, French winemakers are grappling with the opposite problem: Too much wine. Many French winemakers have suffered as retail prices have fallen this year. Charly Triballeau/AFP/Getty ImagesFrench winemakers struggling to sell their own produce have taken out their anger on imports from Spain. The supply of French wine has exceeded waning demand in France and abroad this year.

Persons: New York CNN — Jordi Ustrell, “, Celler, Ustrell, Giogio Delgrosso, Delgrosso, Greg Jones, ”, hasn’t, pip Italy, ’, Charly Triballeau, Rouanet, Michael Baynes, they’ve, Baynes, Arnaud Finistre, John Mitra, Penelope, It’s, Penelope Mitra, Faure Haut Normand, John Mitra More, Mitra Organizations: New York CNN, CNN, International Organisation for Vine, European Union, Getty, European Commission, Vineyards, Estate, “, Burgundy Wine Company Locations: Paris, New York, Spanish, Gratallops, Italy, Spain, Australia, South Africa, Chile, United States, an Oregon, Oregon, Barcelona, Sauvignon, France’s Bordeaux, France, French, Toulouse, AFP, Aude, Bordeaux, Argentina, Burgundy

REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Nov 16 (Reuters) - India's central bank on Thursday tightened norms for personal loans and credit cards, raising the risk of slowing loan growth. Reuters GraphicsRBI Governor Shaktikanta Das said last month the central bank was closely monitoring some fast-growing personal loan categories for signs of stress. Subsequently, Reuters reported that the RBI was particularly concerned with the surge in small personal loans and was considering tighter rules for such borrowings. Unsecured personal loans increased 23% from a year ago as of Sept. 22, 2023, while outstanding amounts on credit cards jumped nearly 30%, central bank data shows. "In particular, limits shall be prescribed for all unsecured consumer credit exposures," the central bank said.

Persons: Francis Mascarenhas, Dhananjay Sinha, Shaktikanta Das, Transunion, Systematix, Sinha, Siddhi Nayak, Ira Dugal, Shinjini Ganguli, Dhanya Ann Thoppil Organizations: Bank of India, REUTERS, Rights, Reserve Bank of, NBFCs, Systematix Research, Reuters, Siddhi, Sethuraman NR, Thomson Locations: Mumbai, India, Reserve Bank of India, Bengaluru

LOS ANGELES, Nov 13 (Reuters) - Investigators have determined arson caused the weekend fire that heavily damaged an elevated stretch of a downtown Los Angeles freeway, forcing its indefinite closure and setting the stage for prolonged traffic turmoil, state officials said on Monday. [1/7]Crew members work in the area, where a fire erupted over the weekend, shutting down a heavily trafficked corridor in Los Angeles, California, U.S., November 13, 2023. Newsom identified the leaseholder for state-owned property beneath the freeway that burned as Apex Development Inc, based in Calabasas, California, north of Los Angeles. Newsom on Sunday proclaimed a state of emergency in Los Angeles County in order to expedite repairs to the freeway. Reporting by Steve Gorman in Los Angeles and Daniel Trotta in Carlsbad, California; additional reporting by Rich McKay in Atlanta and Lisa Baertlein in Los Angeles; Editing by Jonathan Oatis and Stephen Coates and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gavin Newsom, Newsom, Daniel Berlant, Berlant, Karen Bass, Laura Rubio, Rubio, Cornejo, Jorge Garcia, Bass, Steve Gorman, Daniel Trotta, Rich McKay, Lisa Baertlein, Jonathan Oatis, Stephen Coates, Miral Organizations: ANGELES, downtown, Transportation Department, REUTERS, Engineers, Apex Development Inc, Apex, Sunday, Los Angeles Times, Thomson Locations: Los Angeles, California, Santa Monica, downtown L.A, Los Angeles , California, U.S, Calabasas , California, Los Angeles County, Carlsbad , California, Atlanta

☆ 'Shark Tank' star Kevin O'Leary warns of a 'downsized America' as rising prices and loan payments force consumers to cut back
▼ + stars: | 2023-11-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Households are being hit hard by inflation and higher interest rates, Kevin O'Leary says. AdvertisementAdvertisementHe said the retailer's customers are "getting killed," adding: "They can't afford to fill their cars with gas. They can't afford to put a good meal on the table for their families. They can't afford their rent. They can't afford their insurance."

Persons: Kevin O'Leary, —, O'Leary, that's, Bernie Marcus, Richard Drew, Marcus Organizations: Service, Fox News, Federal Reserve, Depot, Fox

☆ UBS faces a long wait for M&A share-price boost
▼ + stars: | 2023-11-07 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

But investors in his bank UBS (UBSG.S) still seem relatively cool on his Credit Suisse acquisition. Ermotti has reversed the client exodus that ultimately sank Credit Suisse. Yet there’s much to do before investors give UBS credit for that rosier future. Bloomberg reported in September that the U.S. Department of Justice had stepped up a probe into Credit Suisse and UBS over suspected Russian compliance failures. The group also booked a $2 billion expense related to the cost of integrating Credit Suisse, which it bought earlier this year.

Persons: Sergio Ermotti, Ermotti, Ermotti reckons, UBS’s, there’s, Neil Unmack, Streisand Neto Organizations: Reuters, UBS, Credit Suisse, Analysts, Bloomberg, U.S . Department of Justice, Reuters Graphics Reuters, Alpha, Suisse, Thomson

☆ Global assets in spot bitcoin ETFs hit $4.16 billion - CoinGecko
▼ + stars: | 2023-11-03 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total $4.16 billion, according to CoinGecko, a cryptocurrency data and analysis company. Nearly half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021. Canada also is home to the single largest of the 20 ETFs, the Purpose Bitcoin ETF , which has $819.1 million in assets. The SEC has so far denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. There's fierce debate about the potential size of the U.S. spot bitcoin ETF market, with estimates starting at $1 billion or more in first-day demand.

Persons: Dado Ruvic, Suzanne McGee, Mark Potter Organizations: REUTERS, Global, United States Securities, Exchange Commission, SEC, Thomson Locations: bitcoin, Canada, U.S, Jersey, Cayman Islands, Liechtenstein, Brazil, Australia

☆ Turning a tiny fraction of America's dead strip malls into housing could create 700,000 new apartments
▼ + stars: | 2023-11-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Old or vacant strip malls offer a promising opportunity to create much-needed new housing. A new report found that converting 10% of strip malls into housing could create 700,000 new homes. Urban planners and developers across the country are pushing a fix for both: converting strip malls into housing. But when it comes to strip mall conversions, finding the right property to redevelop is the bigger challenge. And older strip malls are often costlier to maintain than to tear down and redevelop.

Persons: —, Ahmad Abu, Khalaf, It's Organizations: Service, Enterprise Community Partners, International Council of Shopping Centers, Sears Locations: Ahmad, Cities, Abu, Santa Ana , California, Irondequoit , New York

☆ Starbucks quarterly earnings beat was fueled by higher prices. Here’s how to play the stock
▼ + stars: | 2023-11-02 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions to Starbucks from investors and analysts. The pros, including Jim Cramer , discussed the coffee giant after it released fiscal fourth-quarter results that exceeded expectations. U.S. and North American same-store sales jumped 8% as customers purchased costlier beverages. Starbucks closed the trading session up 9.5% and is held in Cramer's Charitable Trust portfolio.

Persons: Jim Cramer Organizations: Trust

☆ Here’s how much your Thanksgiving meal will cost you this year
▼ + stars: | 2023-11-01 | by ( Parija Bhatnagar | Parija Kavilanz Cnn | ) edition.cnn.com time to read: +5 min

New York CNN —Something wild has happened with turkey prices that’s going to make the cost of cooking the Thanksgiving meal more palatable to families on a tight budget. “Because turkey prices are down so much, and that’s the centerpiece of the meal, celebrating Thanksgiving at home will be more advantageous this year for families,” he said. Drop in turkey prices could bring down the overall cost of a Thanksgiving home-cooked mean this year. Food price increases have been easing this year, offering much-needed relief for many households. Canned food is still costlier heading into the Thanksgiving month compared to last year.

Persons: “ There’s, ”, Michael Swanson, Swanson, Christopher Walljasper, Wells Fargo’s, There’s, “ Russets, –, Danielle Wiener, Bronner Organizations: New, New York CNN, Wells, Food Institute, USDA Livestock Marketing, USDA Locations: New York, “, Pacific

☆ Is your hotel sustainable? Not if these two things are in your room, says Soneva’s founder
▼ + stars: | 2023-10-30 | by ( Monica Pitrelli | Harriet Akinyi | ) www.cnbc.com time to read: +5 min

A quick-and-easy test is to look for two items, said Sonu Shivdasani, founder of Soneva and Six Senses hotel brands. First, sustainable hotels should not have branded water of any sort, he told CNBC Travel. "Governments can create the context, but businesses need to make the change," Shivdasani told CNBC Travel. Source: SonevaShivdasani said he decided to institute a guest environmental levy after the company measured its "scope 3" emissions. Shivdasani said that after Soneva determined that 85% of its carbon emissions were "scope 3" emissions, the company introduced the 2% carbon levy.

Persons: Sonu Shivdasani, Soneva, Shivdasani, that's, It's, it's, Eva, Soneva Shivdasani, Kelvin Law Organizations: CNBC Travel, Nanyang Technological University, CNA, Soneva, World Health Organization Locations: Maldives, Thailand, British, India, Myanmar, Darfur, Sudan

Here are three tips from my dad that helped me when I first bought my home:1. By not taking care of a necessary window replacement, I was paying a higher electric bill and inconveniencing myself every time I went downstairs wrapped in a blanket. Now you have a higher water bill (and maybe water damage). You will pay a higher electric bill until you get them replaced. My dad said, "There is no reason to buy the cheapest version and be right back here in two years.

Persons: —, overspend, Don't, homeownership Organizations: Service, Invest

☆ US new home sales surged in September
▼ + stars: | 2023-10-25 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —New home sales in the United States surged higher in September from the month before, even as mortgage rates remained over 7%, making financing a home costlier and pushing people out of the market. This represents the fastest pace of sales since February 2022 and easily exceeds analysts’ expectations of a sales pace of 680,000. Sales of existing homes have been trending down since February and are down 20% year to date in September from a year ago. While new home sales are a much smaller share of the overall sales market than existing home sales, the inventory picture is rosier for new construction homes. This represents a supply of 6.9 months at the current sales pace.

Persons: Freddie Mac, ”, Kelly Mangold, Mangold Organizations: DC CNN, United States, US Department of Housing, Urban Development, Census, Federal Reserve, Real Estate Consulting, National Association of Realtors Locations: Washington, United, “

☆ Only 19% of Americans increased their emergency savings in 2023. That ‘puts households in a bind,’ expert says
▼ + stars: | 2023-10-25 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

It's becoming increasingly difficult for Americans to set money aside. "Rising prices and high household expenses have been the predominant impediments to boosting emergency savings," said Greg McBride, Bankrate's chief financial analyst. "When expenses increase faster than income, that puts households in a bind." But that cash reserve is now largely gone after consumers gradually spent their excess savings from the Covid-19 pandemic years. At the same time, the Federal Reserve's most aggressive interest rate-hiking cycle in four decades made it costlier to borrow.

Persons: It's, Greg McBride, Sung Won Sohn Organizations: Finance, Social Security, Loyola Marymount University, SS Economics

After 525 basis points of interest rate hikes, financial conditions are now the tightest in a year, and biting. JPMorgan strategists estimate that the impact on GDP from tightening financial conditions takes anywhere from one to two years to be felt. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsThe renewed weakness of U.S. regional bank shares is one of them. Reuters Image Acquire Licensing RightsReuters Image Acquire Licensing RightsBNP Paribas analysts reckon the impact on GDP growth from tighter financial conditions recently equates to a 40 basis point rate hike. Around a third of the bank's financial conditions index rise since April is from higher bond yields.

Persons: Brendan McDermid, Goldman Sachs, Torsten Slok, Morgan Stanley, Jerome Powell, Jamie McGeever, Andrea Ricci Organizations: New York Stock Exchange, REUTERS, Rights, Fed, Treasury, Wall, JPMorgan, National Federation of Independent, Reuters, Thomson Locations: New York City, U.S, Rights ORLANDO , Florida, October's

☆ Insurance companies are betting on AI and mass data analytics in a battle against fraud that costs billions
▼ + stars: | 2023-10-24 | by ( Amanda Paule | ) www.businessinsider.com time to read: +9 min

AdvertisementAdvertisementLosses from insurance fraud are nearly double what they were 30 years ago. Scott Clayton, the head of claims fraud at Zurich Insurance Group. AdvertisementAdvertisementOn the other hand, around 40% of fraud is premeditated, and these cases can cost insurance companies upwards of €3,000, or around $3,170, according to the study. But the Insurance Fraud Detection Market is expected to grow from $5 billion in 2023 to $17 billion in 2028. AdvertisementAdvertisementIn the past 10 years, various third-party developers like Friss, IBM, and Shift Technology have started tailoring machine-learning systems to insurance companies.

Persons: —, they're, Alan Turing, It's, Scott Clayton, shallowfakes —, Clayton, I'm, we'll, Arnaud Grapinet, he's, Grapinet, it's, Rob Galbraith, Jennifer Lindberg, Rob Morton, Galbraith Organizations: Service, Coalition Against Insurance, Zurich Insurance, AXA Research Fund, Technology, IBM, Employees Locations: United States, Spain

The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. India taxes EVs at just 5%, while the levy on hybrids is as high as 43%, just below the 48% imposed on petrol cars. Indian giants Tata Motors (TAMO.NS) and Mahindra & Mahindra (MAHM.NS) are backing EVs, while Toyota and Honda Motor (7267.T) want support for hybrids. Toyota has begun developing EVs while also championing hydrogen-powered cars, saying a "multi-pathway" approach is needed to solve the climate crisis. In its letter, Toyota also asks India to bring hybrid cars under a government incentive programme that offers discounts to buyers, a scheme now available only for EVs.

Persons: Anushree, Narendra Modi's, Modi's, Vikram Gulati, Gulati, Aayog, Sarita Chaganti Singh, Aditi Shah, William Mallard Organizations: Toyota, REUTERS, Tata Motors, Mahindra & Mahindra, Honda, EVs, Thomson Locations: New Delhi, India, DELHI, policymaking, Toyota's India

☆ Halloween chocolate is pricier this year as El Niño hits cacao bean crop
▼ + stars: | 2023-10-23 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

"There is not much room for error, which makes cocoa especially vulnerable to climate change," said Branch. Coupled with an already-pressured sugar market, the cocoa shortage has spooked major chocolate makers, sending prices of classic candies higher this Halloween season. Specialty chocolatiers have so far been immune to the elevated cocoa prices. Greg D'Alesandre, who leads chocolate sourcing for specialty brand Dandelion Chocolate, said its prices are protected from industry-wide volatility because the company pays a premium for high-end cocoa suppliers. A bad cocoa-growing season makes Halloween chocolate not only more expensive, but sometimes, it also makes it smaller.

Persons: David Branch, Candy, Mars, Greg D'Alesandre, D'Alesandre Organizations: Washington , D.C, Wells, Food Institute, National Retail Federation, CNBC, Dandelion Locations: Washington ,, Cocoa, West Africa, Ivory Coast, Ghana, Cameroon, Nigeria

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