A Genocidal Militia in Sudan Controls a Key Ingredient in Coke and Pepsi
After it's sorted in warehouses in Port Sudan, Yagoub's gum arabic is sent to clients in Europe and the US. Gum arabic, a sticky tree sap, is an essential ingredient in everything from Coca-Cola to Danone yogurt to M&Ms. Sudan produces 70% of the world's supply – and Yagoub's company, Afritec, is one of the biggest suppliers.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 hours ago
- Yahoo
Officials uphold government decision to levy millions in taxes on Coca-Cola agent — here's what you should know
Officials uphold government decision to levy millions in taxes on Coca-Cola agent — here's what you should know Uganda's Tax Appeals Tribunal has ruled, as of late July, that Coca-Cola's marketing agency in the country, Allied Beverages Limited, must pay the 9.7 billion UGX ($2.7 million U.S.) in value added tax that it seemingly attempted to avoid by classifying its marketing services as exports. What's happening? According to regional outlet ChimpReports, the Uganda Revenue Authority assessed the marketing agency for unpaid taxes related to its activities billed to the Coca-Cola Export Corporation — or TCCEC. The URA claimed that since the services were consumed in Uganda, the company should be subject to the standard VAT rate of 18 percent. While the TCCEC is based in the United States, the Tribunal determined that Allied's promotional activities — such as radio, TV, and billboard ads — benefited Century Bottling Company, a Coca-Cola bottler in Uganda. "Use and consumption of services is a question of fact … All evidence, when looked at in totality, must point to the place of use or purpose of those services being outside Uganda. That was not the case here," the Tribunal stated, per ChimpReports. Allied argued that its services were exports and should qualify as zero-rated for VAT since the contracting party is based in the U.S. Ultimately, the Tribunal sided with the government's revenue collection agency, and, in addition to upholding the tax assessment, ordered Allied to pay 80 percent of the legal fees, according to Food Business Middle East & Africa. Why does this matter? If Allied were successful in avoiding tax payments in Uganda, it would ultimately impact the country's economy, which still faces challenges such as poverty and inequality. And though Allied must pay the value added tax, making things right in the eyes of the government, the situation overall may not reflect well on Coca-Cola's image, which has been under scrutiny for various reasons — including its status as one of the world's worst plastic polluters. The American multinational corporation has taken steps to reduce its plastic use. For instance, a Philadelphia-based bottler switched from plastic rings to paper packaging for Coca-Cola products in 2022. The company has also mounted numerous recycling efforts to reduce plastic litter. Meanwhile, it has been linked to cruel practices by one of its sugar suppliers, which was recently ordered to pay a settlement to hundreds of Cambodian families who were displaced when land was cleared to build a plantation years ago. Should companies be required to help recycle their own products? Definitely No way It depends on the product They should get tax breaks instead Click your choice to see results and speak your mind. Consumers who patronize the brand could see their dollars as helping to perpetuate such practices, with potential humanitarian and environmental impacts. What can consumers do to hold companies accountable? Consumers can hold a lot of power, essentially voting with their buying dollars to support the brands and business practices they believe in. Coca-Cola has made some strides of note in the last several years to become more sustainable and invest in communities around the globe — for instance, by planting trees in Cambodia. But it's always a good idea to watch out for greenwashing from any company, whether it's a major, globally recognized brand or a smaller seller. Doing research on a company's overall environmental track record and looking for credible third-party certifications can help consumers make more informed decisions and ensure they're giving their hard-earned money to companies that deserve it. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the the daily Crossword
Yahoo
11 hours ago
- Yahoo
Team Stock Jumps 14.3% Despite Reporting Wider Y/Y Loss in Q2
Shares of Team, Inc. TISI have risen sharply following the company's second-quarter 2025 earnings release. Since reporting results, the stock has advanced 14.3%, far outpacing the S&P 500's 1.3% growth. Over the past month, the stock has climbed 10.2% compared with the broader market's 2.5% rise, highlighting investor confidence in the company's operational and financial trajectory. Team posted revenues of $248 million in the second quarter, an 8.5% increase from the $228.6 million reported in the year-ago quarter. The gross margin expanded to $68.1 million, up 7.1% year over year. The company recorded a net loss of $4.3 million, wider than a loss of $2.8 million in the prior-year quarter, though its adjusted EBITDA improved 12.4% to $24.5 million from $21.8 million. On a per-share basis, the loss widened to 95 cents from 63 cents a year ago. Importantly, the adjusted net loss narrowed to $0.9 million from $2 million last year. Team, Inc. Price, Consensus and EPS Surprise Team, Inc. price-consensus-eps-surprise-chart | Team, Inc. Quote Other Key Business Metrics Performance across segments was mixed but overall favorable. Inspection and Heat Treating (IHT) revenues grew 15.2% year over year to $130.4 million, driven by a 13.4% rise in U.S. operations and a 31.4% increase in Canadian operations. Segment operating income jumped 26.7% to $15.8 million. Adjusted EBITDA for IHT rose 25% to $19.5 million, with a margin improvement of 118 basis points. Mechanical Services (MS) revenues grew 1.9% to $117.6 million, with U.S. operations gaining 6.6% but international markets experiencing softness. Operating income fell 4.7% to $10.1 million. Adjusted EBITDA in the MS unit dipped to $15 million from $15.4 million a year earlier. From a balance sheet perspective, liquidity totaled $49.3 million at the quarter end, including $16.6 million in cash and $32.7 million in undrawn credit availability. Total debt stood at $370.2 million, up from $325.1 million at the end of 2024, reflecting refinancing completed in March 2025 and seasonal working capital demands. Management Commentary Chief executive officer Keith D. Tucker emphasized that the second quarter showcased tangible progress in the company's transformation program. He highlighted double-digit growth in the IHT segment and continued cost optimization efforts, including initiatives expected to yield approximately $10 million in annualized SG&A and other cost savings, with $6 million anticipated in the second half of 2025. Chief financial officer Nelson M. Haight underscored the benefits of the March refinancing, which lowered the blended interest rate by more than 100 basis points and extended term-loan maturities to 2030. He noted that adjusted net loss had narrowed substantially and reiterated management's goal of achieving at least 15% year-over-year growth in adjusted EBITDA for 2025. Factors Influencing the Headline Numbers Revenue growth was primarily fueled by strength in the U.S. and Canadian operations in the IHT segment, wherein higher activity in turnaround and callout services supported double-digit expansion. The MS segment's performance was hampered by weakness in certain international markets, particularly the U.K. and Trinidad, where project activity declined. Gross margin expansion reflected higher volumes and improved cost management, while SG&A leverage improved as expenses represented 18.9% of revenues, down from 19.8% last year. However, bottom-line losses widened due to elevated interest costs and foreign currency losses, partially offsetting operating gains. Guidance Management expects continued revenue and margin improvements in the second half of 2025. The company reaffirmed its target of at least 15% growth in adjusted EBITDA for the year and highlighted anticipated gains from Canadian and other international operations. Leadership also stressed its commitment to driving margin expansion, cost discipline, and operational resilience to sustain shareholder value creation. Other Developments In the quarter, Team announced the appointment of Dan Dolson as executive vice president, chief strategy and transformation officer. His role is to accelerate ongoing transformation initiatives, with a focus on both revenue growth and margin improvement. The company did not disclose any acquisitions or divestitures during the period. In summary, Team delivered a solid second quarter, with revenue and adjusted EBITDA growth underscoring progress in its transformation program. While net losses are concerning, narrowing adjusted net loss, stronger performance in the IHT segment, and effective cost controls highlight improving fundamentals. Management's guidance of at least 15% adjusted EBITDA growth for 2025 suggests operational improvements. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Team, Inc. (TISI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Yahoo
Senior Citizens League Projects 2.7% 2026 Social Security COLA. But Will It Cover Rising Prices?
Key Points The 2026 COLA is now projected to be 2.7%, which is higher than last year's 2.5% adjustment. Rising Medicare costs could consume a lot of the increase. The types of inflation that impact seniors are rising significantly faster than 2.7%. The $23,760 Social Security bonus most retirees completely overlook › According to the latest estimates by the Senior Citizens League, the 2026 Social Security cost-of-living adjustment, or COLA, is now expected to provide a 2.7% increase for beneficiaries. This is an increase over the 2.6% projection the same organization made in June, which was already an increase over May. If the latest projection is correct, this would give the average retired worker a monthly raise of about $54. However, this increased COLA estimate might not be as great as it sounds. There are a couple of big reasons why it might not do a good job of helping seniors keep up with rising prices, so let's take a closer look at why the projections increased, as well as two important points Social Security recipients should keep in mind. Why is the 2026 COLA estimate rising? The short answer is that the 2026 projected COLA is getting higher because of inflation. Specifically, the COLA is based on inflation data (the CPI-W) from July, August, and September. We recently got a look at July's CPI-W reading, and it is 2.5% higher than it was a year ago. We'll see August's inflation data next month, and then September's in about two months. In mid-October, the official 2026 Social Security COLA will be unveiled. Two big reasons why the COLA might not be enough Social Security COLAs are a valuable feature of the program for retirees and other Social Security recipients. They provide annual, inflation-based adjustments designed to help seniors and other beneficiaries keep up with the rising costs of goods and services. In theory, this makes perfect sense. If the inflation rate in the United States is 3% and benefits are adjusted upward by 3% as well, retirees who receive Social Security won't see any change in their purchasing power. Unfortunately, it isn't this simple. There's a lot to unpack when it comes to the real impact of the Social Security COLA on seniors' wallets. Here are two good reasons why a 2.7% increase might not be as good as it sounds. 1. The CPI-W is not senior-specific inflation As mentioned, the Social Security Administration uses the CPI-W to measure inflation. This stands for the Consumer Price Index for Urban Wage Earners and Clerical Workers. In other words, it's intended to measure inflation as it affects working Americans -- not the elderly. As one example, seniors tend to spend a greater percentage of their income on healthcare costs than the overall population. They also tend to spend more (as a percentage) on housing. And according to the July inflation data, outpatient hospital services and housing costs have increased by 6.4% and 3.7%, respectively -- significantly faster than overall inflation. In fact, there's a separate inflation metric known as the CPI-E, which is specifically designed to measure inflation on older people. The CPI-E showed a 2.9% increase in July, four-tenths of a percentage point more than the CPI-W. But unfortunately, it plays no role in determining cost-of-living adjustments. 2. Medicare costs are set to rise If you're a Social Security beneficiary who is 65 years of age or older, you probably already know this, but Medicare Part B premiums are typically paid directly from Social Security benefits. In other words, the premium amount -- which is $185 per month in 2025 for most retirees -- is deducted from the amount each Social Security beneficiary receives. In 2026, Medicare Part B premiums are expected to be $206.50. That's an 11.6% increase compared to this year. For the average retired worker, the $54 expected monthly COLA increase would become $33.50 when accounting for the Medicare increase. And for lower-income retirees, this could hit even harder. As an example, someone who gets $1,400 per month would get a $37.80 raise based on a 2.7% COLA. But it would effectively be just $16 after the expected Medicare increase. The bottom line on the 2026 COLA Of course, a 2.7% COLA would be better than nothing, but the point is that the average Social Security recipient is likely to lose purchasing power next year, even after the increase. Looking forward, it's important for all Social Security beneficiaries to keep these factors in mind as they consider each year's adjustment. The $23,760 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these Motley Fool has a disclosure policy. Senior Citizens League Projects 2.7% 2026 Social Security COLA. But Will It Cover Rising Prices? was originally published by The Motley Fool
