Cocoa prices are spiraling lower, making chocolate cheaper just in time to stuff those Christmas stockings even more full of treats.
Futures in New York have tumbled to a three-year low as rains improve crops in West Africa, which grows more than two-thirds of the world’s cocoa each season. The output gains mean the market is shifting from a production deficit to the biggest surplus in six years, according to Citigroup Inc.
China, the world’s fifth-biggest producer last year, has reduced output by about 300,000 barrels a day this year, more than the combined cuts announced Saturday by non-OPEC countries, excluding Russia, as part of a deal coordinated with the producer group. The decline is expected to continue next year, with Chinese production shrinking as much as 200,000 barrels a day, according to consultant Energy Aspects Ltd.
For anyone not familiar, Square pioneered those smartphone card readers that allow anyone to accept credit-card payments. Today, the company makes money by selling payment-related services to small merchants. “In less than six years, Square has grown to nearly $35 billion in annualized card volume...serving more than two million active sellers,” JPMorgan analyst Tien-tsin Huang wrote in a note to clients.
Huang calls Square “our top high-reward, high-risk pick.” The firm rates the stock at Outperform, essentially a Buy rating, though the firm sees relatively modest upside in the near-term, with a price target of $15. Square shares have already jumped 49% in the last six months, to a recent $14.
MacCoffee is proud to be the general sponsor of the Bollywood Film Festival, which will be held from November 30 to December 7, 2016. The festival will provide the possibilities to be acquainted with modern Indian cinematography to the inhabitants of 21 Russian cities, including Moscow and Saint Petersburg.
The guests of the festival will see eight fresh motion pictures, and meet Bollywood stars — the actors Harshvardhan Rane, Amit Sadh, and the actresses and dancing twin-sisters Poonam and Priyanka Shah.
Heating fuel from used coffee beans? All it took was some out-of-the-box thinking from Arthur Kay to devise a plan for collecting and processing the vast quantities of this readily available, clean-burning biofuel from wholesale producers and coffee shops across London.
His company, bio-bean, is now heating up the city from conference rooms to corner shops using biomass pellets produced from recycled coffee grounds, and it's building capacity to heat even more. bio-bean uses these discarded coffee grounds and turns them into something useful: advanced biofuels.
These low-carbon biofuels can be used for heating homes, offices, supermarkets and hospitals. They could even be used for transport.
Investment bank Goldman Sachs Friday revised its crude oil price forecast for the second quarter of 2017 on the back of a decision by OPEC members and other countries to cut production amid growing demand from consumers.
Goldman Sachs has upped its oil price outlook for the second quarter of 2017 to $57.50 a barrel from $55 a barrel for U.S. West Texas Intermediate crude. It also raised its price forecast for international benchmark Brent crude to $59 a barrel from $56.50 a barrel.
