Brickbat: Struck Gold
The post Brickbat: Struck Gold appeared first on Reason.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
Nestle unveils method to boost cocoa yields as climate change hits
Faced with climate change diminishing farmers' yields, Nestle announced Wednesday that it was working on a technique to produce chocolate by using up to 30 percent more of the cocoa fruit. Chocolate is traditionally made using only cocoa beans taken from inside the pod, meaning that a large amount of the fruit -- including the pulp, placenta and pod husk -- "remains largely unused", the Swiss food giant said. Its researchers have "developed a patented technique that leverages all parts of the fruit inside the cocoa pod", it said. Everything inside the pod is collected as a wet mass that then ferments naturally, "unlocking the key chocolate flavour", Nestle said. "The mass is then ground, roasted and dried into chocolate flakes which can be used to make chocolate without compromising the taste." Nestle said the approach cut down on waste while helping farmers get more yield and value. "With climate change increasingly affecting cocoa yields around the world, we are exploring innovative solutions that could help cocoa farmers maximise the potential of their harvests," said Louise Barrett, head of the Nestle research and development centre for confectionery in York, England. "While this project is still at a pilot stage, we are currently exploring how to apply this innovation at a larger scale," she said. - Heat takes toll - Cocoa prices had been stable for around 10 years but began to soar in early 2023. A tonne of cocoa was worth £1,900 ($2,560) on the London commodities market in January 2023, shot up to £3,800 a year later, and reached a high of over £9,000 last December. The surge was the result of poor harvests in the leading producers Ivory Coast and Ghana, as unusually heavy rains, a cocoa pod disease outbreak and then drought took their toll. In February, a study by the Climate Central research group found that "excessive heat can contribute to a reduction in the quantity and quality of the harvest" for cocoa growers. The report calculated that over the last decade, climate change had added an extra three weeks of above 32C in Ivory Coast and Ghana during the main growing season from October to March -- above the levels considered optimum for cacao trees. The surge in prices dampened demand while also pushing farmers to devote more resources to cocoa cultivation. That allowed prices to ease in recent months, with reserves being built up for the first time in four years. Since the beginning of 2025, prices have declined, and a tonne was worth around £5,600 on Wednesday. vog/rjm/js
Yahoo
23 minutes ago
- Yahoo
Applied Nutrition gives upbeat revenue update
UK sports-nutrition firm Applied Nutrition has said the company expects its revenue for its 2025 and 2026 fiscal years to be 'ahead of market expectations'. In a trading update yesterday (19 August), the maker of protein powders, bars and nutrition drinks provided a provisional estimate of its earnings for its financial year that recently closed on 31 July. Applied Nutrition anticipates revenue to have increased by 24% to £107m ($144.4m). The figure exceeds market forecasts of £100m. The company attributed the growth to 'strong' trading in the second half of the year, which contributed around £60m to its revenue. Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) are projected to rise by 19% from £26m in the prior year. Additionally, net cash is expected to reach £18.5m, surpassing the market consensus of £16.6m. The company, which went public in October, credited its performance to the continued execution of its 'multi-pillar, global growth strategy'. Looking ahead, Applied Nutrition expects revenue for the financial year ending 31 July 2026 to also surpass market expectations. The board expressed confidence in the company's B2B-focused business model, stating that its core strengths will 'continue to drive sustained revenue growth and strong profitability over the long-term'. Applied Nutrition plans to release its audited results for the year ended 31 July on or around 10 November. Thomas Ryder, the CEO of Applied Nutrition, said: "We are proud to report that we have exceeded the guidance we gave at our IPO, with our first full-year results expected to come in ahead of market expectations." Applied Nutrition offers four product ranges – Applied Nutrition, ABE, BodyFuel and Endurance – with over 100 products sold in more than 85 countries. The company operates a US division to support sales through retailer Walmart. It has marketing tie-ups with English and Scottish football clubs, professional boxers and MMA athletes. "Applied Nutrition gives upbeat revenue update" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
29 minutes ago
- Yahoo
Where inflation jumped in July – and where it eased
A steep jump in the cost of air travel, along with increases in the price of many everyday items from tea and coffee to potatoes and eggs, helped push the UK's overall rate of inflation in July to an 18-month high. The average cost of air tickets was 15.5% higher last month than it was a year earlier, compared with an annual rise of just 0.5% in June, according to data published by the Office for National Statistics (ONS). When comparing figures month on month, air fares jumped 30.2% between June and July: more than double the rise of 13.3% between the same months in 2024, and the largest July increase since monthly inflation data for air travel began in 2021. Prices accelerated for a range of household groceries last month, which further pushed up the cost of living. The average cost of coffee was up 18.0% year on year in July compared with 12.3% in June; tea was up 4.9% compared with 0.5%; fruit juices were up 8.6% compared with 3.6%; and whole milk was up 11.3% compared with 8.4%. Inflation also picked up pace for margarine, eggs, potatoes, crisps, breakfast cereals, chocolate and bread. Energy bills edged higher, with electricity costs up 8.0% year on year in July, greater than the 4.5% jump in June, while gas was up 13.0% compared with 12.3% the previous month. Both petrol and diesel recorded a negative annual rate of inflation in July, but by a smaller margin than in June, indicating a rise in the cost of filling up at the pumps. The average price of petrol in July was down 7.3% year on year, compared with a fall of 9.5% the previous month, while diesel was down 6.0% compared with a previous drop of 8.6%. Not everything saw a jump in price last month, however. Items where prices fell faster year on year in July than in June included pasta and couscous, fish, olive oil and sugar. Inflation eased for cheese, which stood at 3.4% in July compared with 5.2% in June, while children's shoes swung from positive annual inflation (1.9%) to negative (down 1.9%). Below are some examples of how the Consumer Prices Index (CPI) inflation rate has eased or accelerated. Two figures are listed for each item: the average rise in price in the 12 months to June, followed by the average rise in price in the 12 months to July. – Examples where annual inflation has accelerated, ranked by the size of change: Passenger air travel: June up 0.5%, July up 15.5%Coffee: June up 12.3%, July up 18.0%Cinemas/theatres/concerts: June up 0.4%, July up 5.7%Fruit & vegetable juices: June up 3.6%, July up 8.6%Tea: June up 0.5%, July up 4.9%Electricity: June up 4.5%, July up 8.0%Hotels/motels: June down 2.7%, July up 0.3%Whole milk: June up 8.4%, July up 11.3%Breakfast cereals: June up 2.2%, July up 5.1%Eggs: June up 3.4%, July up 4.9%Ready-made meals: June up 4.5%, July up 5.7%Potatoes: June up 0.7%, July up 1.9%Crisps: June up 4.2%, July up 5.1%Chocolate: June up 16.3%, July up 17.2%Women's clothes: June up 2.3%, July up 2.9%Soft drinks: June up 5.6%, July up 6.1% – Examples where annual inflation has eased: Children's footwear: June up 1.9%, July down 1.9%Passenger train travel: June up 8.4%, July up 6.1%Fridges/freezers: June up 1.7%, July down 0.5%Dried fruit/nuts: June up 7.4%, July up 5.4%Cheese/curd: June up 5.2%, July up 3.4%Yoghurt: June up 3.0%, July up 1.2%Children's clothes: June down 2.1%, July down 3.8%Pasta/couscous: June down 0.7%, July down 2.1%Fish: June down 0.4%, July down 1.8%Washing machines/dryers: June down 2.0%, July down 3.4%
