Cocoa Trims Weekly Loss as Traders Assess Demand Outlook
The most-active contract in New York rose as much as 5.8% to $7,735 a ton, helping pare the weekly drop to about 7%. Futures have been under pressure this week as the market mulls the extent of demand destruction following historically high cocoa prices.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
a minute ago
- Forbes
Was This Summer's Healthy Job Market A Mirage?
This is a published version of Forbes' Careers Newsletter. Click here to subscribe and get it in your inbox every Tuesday. After two months of seemingly healthy growth in the job market, the American workforce grew slower than expected in July. Only 73,000 nonfarm jobs were created last month, a dismal showing compared to the 115,000 analysts expected, while unemployment rose slightly to 4.2%. But that's not all: The Labor Department and the Bureau of Labor Statistics—the government bodies charged with producing the monthly jobs report—revised their estimates for May and June employment down by 258,000 jobs in total. And it's not just a lack of new jobs hurting the U.S. labor market. Job cuts this year have already surpassed all of 2024, according to career services firm Challenger, Gray & Christmas. Private and public employers have eliminated 806,000 jobs in the first six months of the year, largely driven by DOGE cuts to federal agencies and grants, concerns about President Donald Trump's tariffs and yes, AI. The disappointing labor report sent waves through Wall Street and the White House. Trump went as far as firing BLS commissioner Erika McEntarfer, a Biden-era appointee, in a move that has been criticized by many, including former Trump-era BLS chief William Beach. So what does all of this mean for those still looking for a new job? It's important to recognize the industries that are still adding jobs, like health care and social assistance. But for those working outside those fields, senior contributor Caroline Castrillon recommends seeking out contract work while you broaden your skills and network for full-time opportunities. Happy reading, and hope you have a lovely week! WORK SMARTER Practical insights and advice from Forbes staff and contributors to help you succeed in your job, accelerate your career and lead smarter. AI hiring tools can overlook top talent—here's how hiring managers can make sure they're still finding the best candidates. ChatGPT is coming for Excel. What does this mean for your job? Heads up, introverts: This is how AI can help you stand out to your boss. DEEP DIVE: Should You Scrub Your Social Media Before Beginning Your Job Hunt? Between the Trump Administration declaring private accounts a red flag for foreign student visas and prospective employers using AI to seek out fake applicants, the old rules are becoming obsolete. Forbes' Fiona Riley and I spoke to university counselors, employment lawyers and startup founders to figure out what job seekers should do. For years, the advice to graduates and job seekers when it came to their social media presence was straightforward: Delete your personal accounts or at least make them private, and work on building a professional LinkedIn network. But following that advice today could hurt your job prospects. The State Department now requires international students to make their accounts public to allow a review of their 'entire online presence.' Not only is content or activity that is 'hostile' to the U.S. government or culture worthy of a red flag, but even the absence of social media accounts could be held up against a visa applicant, as it could be viewed as a possible effort to evade scrutiny of their true views. 'You're damned if you do post, damned if you don't,' one international student who requested anonymity because she fears undermining her own immigration status tells Forbes. U.S.-born students and job seekers have reason to worry, too, as a lack of a social media presence can also hurt during verification processes. Employers are increasingly dealing with an influx of fake candidates, aided by the rise of AI. The technology is now so advanced that a novice AI user can create a fake applicant profile—social media pages and all—in just 70 minutes. So it makes sense that many employers are turning to pre-screening tools that use publicly available information to verify an applicant's authenticity. So is the new advice to post or not to post? To scrub your page or to leave it as is? It's a tough balancing act, especially when your online professional presence—like your LinkedIn profile—and personal brand can be more important than your résumé. Read the full piece for more tips here. TOUCH BASE News from the world of work. Boeing defense workers are on strike for the first time since 1996 after the union rejected the company's latest contract offer. The 3,200 unionized employees walked out of Boeing's factories in St. Louis and St. Charles, Missouri and Mascoutah, Illinois, where they assemble crucial missile systems and aircrafts, including the F-15 and F/A-18. Behind athletes' multimillion dollar paydays are the agents negotiating player contracts, brand partnerships and additional deals—all for a hefty cut. Topping Forbes' ranking of the Most Powerful Sports Agents in North America for 2025 is Scott Boras, who negotiated Juan Soto's contract with the New York Mets. Boras is set to earn $244 million in player commissions on nearly $5 billion in active player contracts. Meta has reached a new high in its bid to recruit top talent for its AI lab. According to Wired, one offer to an employee at Thinking Machines Lab, the startup founded by former OpenAI CEO Mira Murati, included a billion-dollar compensation package spread over a multi-year plan. Meta, however, has denied the staggering number. A new AP poll found that fewer Americans perceive racial discrimination against Asian and Black Americans than in 2021. The poll also found that more Americans are skeptical of DEI policies and programs, which have been targeted by the Trump Administration. NUMBER TO NOTE 154,000 VIDEO Venture Capitalist's Advice To Young Workers: Slow Down QUIZ As President Trump considers a replacement for Fed Chair Jerome Powell, whose term is not up until May 2026, which current cabinet member is no longer on the shortlist? A. Vice President JD Vance B. Secretary of Commerce Howard Lutnick C. Treasury Secretary Scott Bessent D. Secretary of Transportation Sean Duffy Check if you got it right here.
Bloomberg
a minute ago
- Bloomberg
Trump Teases Tariffs on Chips, Pharmaceuticals
Sarah Bianchi, former deputy US trade representative said President Trump faces major challenges to his bid to use punishing tariffs to reorient the drug and semiconductor supply chains back to the US. (Source: Bloomberg)
CBS News
a minute ago
- CBS News
Denver Board Of Ethics investigating flight prices at Denver International Airport
Denver's independent Board of Ethics is investigating the purchase of business and first-class tickets this past April for nine Denver International Airport executives to fly to a conference in Madrid, according to three sources aware of the ongoing investigation. The probe was sparked by a CBS News Colorado investigation in May that revealed the airport spent as much as $19,000 for one of its executives to fly to the three-day conference. Another ticket cost about $16,000. All of the executives flew either business class or first class to the conference and back to Denver. "Our policy allows us to do that," said Denver International Airport CEO Phil Washington. Travel websites showed round-trip tickets from Denver to Madrid cost as little as $1,300, and upgraded seats in premium economy sold for about $3,000. "Those costs may seem high," said Washington, but, he said, "they are an investment in our people. We sent who we sent, and they are going to pay dividends as we build out this infrastructure." But the spending elicited widespread criticism, which made its way to the Board of Ethics, according to CBS Colorado sources, who said the board was querying whether the spending amounted to using public money for private gain. Lori Weiser, the executive director for the Board of Ethics, said she could not comment on any board investigations. "The Denver Code of Ethics prohibits public disclosure of any complaint that has been received," wrote Weiser, "until it passes through a screening process, and an investigation process, if the Board requests investigation." In 2024, the board received 78 cases and issued 13 advisory opinions. Washington did not provide any comment about the ethics investigation. His own employees raised ethical concerns about the trip, saying it created a "rift" between executives and lower-level employees. The CBS Colorado report prompted Washington and his staff to reevaluate airport employees' travel policy. On Aug. 1, the airport completed an updated travel policy that addressed some of the issues spotlighted in the original CBS Colorado investigation. A spokesperson for Washington said he "doesn't have anything to add" regarding the new travel policy. The total cost of the Madrid trip was about $165,000 and was paid for out of Denver International Airport revenues, which are derived from what passengers pay for concessions, parking fees, rental car revenues, and other user fees.
