Workers collect dry cocoa beans in front of a cocoa cooperative shop in the village of Hermancono on November 14, 2023.Sia Campo | AFP | Getty ImagesCocoa prices hit a record high on Tuesday as supply constraints sent prices soaring.Futures contracts for delivery in May It rose 3.9% at $10,030 per metric ton, marking the first time the commodity has surpassed the $10,000 level. Cocoa prices witnessed a decline this year, rising by approximately 138%.Stock chart icon Stock chart iconHuge gains for cocoa in 2024Difficult weather conditions and diseases have affected production in West Africa, which produces about 70% of…
Author: ricardofrancois
Web browsers have realized that they are one of the best ways for users to access the current set of AI tools, so they are working to be the first-choice containers for that. SigmaOS, a Y Combinator-backed company, is now banking on users' willingness to use and pay for its AI tools, as the company launches new features like link preview summaries and “find it” browsing features. Some of these features look and work like recent versions of competing browser Arc. But SigmaOS claims that its feature produces better quality results, which is a difficult metric to measure. The company…
Check out which companies are making headlines in pre-market trading. Krispy Kreme — Shares rose nearly 14% during premarket trading after the company said it will sell its donuts in McDonald's restaurants nationwide by the end of 2026, with the rollout starting in the second half of this year. Krispy Kreme began testing sales at some McDonald's locations in 2022, and expanding its partnership would double the donut maker's current distribution. McDonald's shares fell more than 1%. Seagate Technology – The data storage stock added 4.1% on the back of Morgan Stanley's upgrade to overweight from equal weight. Morgan Stanley…
A pedestrian in the Lagos Island area of Lagos, Nigeria, on Monday, November 14, 2022.Bloomberg | Bloomberg | Getty ImagesNigeria's central bank on Tuesday raised its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and rising inflation.The Central Bank of Nigeria announced that its key monetary policy rate will rise to 24.75% from 22.75%, the second consecutive rise after a 400 basis point increase in February.Governor Olayemi Cardoso said in a press conference that policymakers believe they need to continue tightening monetary policy in order to tame runaway inflation,…
The Francis Scott Key Bridge in Baltimore collapsed after a container ship collided with it early Tuesday.As many as seven people may have fallen into the water after the incident, according to Baltimore City Fire Chief James W. Wallace. Two people were rescued, and one of them was taken to the trauma center in very serious condition.The bridge carries Interstate 695 across the Patapsco River, southeast of the Baltimore metropolitan area.The accident involving the large container ship occurred at about 1:30 a.m. Eastern time, while contractors were working on the bridge, according to Paul Wedefeld, Maryland's Secretary of Transportation.Wiedefeld said…
Luxury holiday home co-ownership platform Pacaso is trying to appeal to the masses, as it grows its business during an expensive and competitive phase in the housing market.The company, which launched in 2020 with multi-million-dollar homes listed for shared ownership, now offers thousands more listings with stock prices starting in the $200,000s. Previously, shares were closer to half a million dollars, or higher.Pacasso lists shares of vacation homes, generally one-eighth but sometimes larger, and then facilitates the purchase, including financing if necessary. It also furnishes and manages the home, dividing the owners' time in the home through the app. It…
In the United States, Tesla may be at the forefront of the electric vehicle revolution, but abroad, the automaker faces some serious competition. In China, the world's largest electric car market, Tesla has lost ground to local automakers that are increasingly making better cars at unbeatable prices, the most important of which is the Warren Buffett-backed company. BYD. In the last quarter of 2023, BYD dethroned Tesla as the world's largest electric car maker, selling more battery-powered vehicles than its American competitor.”BYD has grown into this force in the new energy vehicle industry,” said CNBC's Beijing correspondent Evelyn Cheng. “When…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent directly to your inbox every weekdayGood morning. Dave Calhoun, CEO of Boeing, will step down. Unhedged's view of Boeing is that it won't bring investors back on board until it proves that the company's culture has fundamentally changed. This appears to be a step in that direction, but stocks have not reacted much. However, we think Boeing stock is a more interesting stock today…
Stay informed with free updatesSimply sign up for the myFT Climate Change Digest – delivered straight to your inbox.The world's richest countries are at loggerheads over ending state support for oil and gas development, with the United States and the European Union disagreeing over the extent of the ban, according to people familiar with the talks.OECD countries held a second round of closed talks in Paris to discuss proposals from the European Union and the United Kingdom to cut most export credit agency loans and guarantees for oil, gas and coal mining projects, which are the world's largest source of…
Stay informed with free updatesSimply subscribe to Education myFT Digest – delivered straight to your inbox.AI may not be about to completely replace teachers and university professors, but it is enhancing the way the education sector approaches learning.Robert Seamans, a professor of management and organizations at New York University's Stern School of Business, expects he and his peers will be helped to become better at what they already do by AI tools like ChatGPT, rather than taking over their roles. They'll certainly be “faster, and hopefully better,” Seamans explains, and he's in a good position to judge, having co-authored research…