Latest news with #MarsInc
Bloomberg
3 days ago
- Business
- Bloomberg
M&M's Maker Turns to Gene Editing in Bid to Secure Cocoa Supply
Mars Inc. is tapping gene-editing technology that could speed up the development of hardier cocoa plants — part of the company's efforts to ensure continued supplies of the crucial crop. The maker of Dove chocolate and M&M's is entering into a licensing agreement with Pairwise, an agricultural gene editing firm, in order to accelerate the development of plants with desirable traits, according to a statement. Under the agreement, Mars gets access to Pairwise's CRISPR tools, which allow scientists to modify organisms' DNA sequences.
Bloomberg
4 days ago
- Business
- Bloomberg
Corporate Debt Sales Top $1 Trillion at Fastest Pace Since 2020
A massive wall of debt coming due, an unpredictable US leader and falling yields have compelled corporate borrowers to sell debt this year at the fastest clip since the pandemic debt binge of 2020. The annual supply of fresh investment-grade bonds surpassed $1 trillion on Tuesday, a day earlier than it did last year. Refinancings, like Japanese telecom giant NTT Inc.'s sale of more than $11 billion in bridge loans used to take its data-center business private, as well as mergers and acquisitions — including $26 billion Mars Inc. bonds to fund its acquisition of foodmaker Kellanova — helped set the milestone.
Yahoo
09-07-2025
- Business
- Yahoo
Chocolate Makers Burned Again as Shortages Hit Cocoa Powder
(Bloomberg) -- Chocolate makers were already grappling with record prices for cocoa butter, which provides that melt-in-your-mouth feel. Now they are also paying up for the powder that lends their product its color and taste. Are Tourists Ruining Europe? How Locals Are Pushing Back Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Can Americans Just Stop Building New Highways? Denver City Hall Takes a Page From NASA Philadelphia Trash Piles Up as Garbage Workers' Strike Drags On Cocoa powder, used in everything from baking mixes to protein shakes, is now in short supply too. Prices for the key ingredient, produced when cocoa beans are ground, surged about 16% in the US over the past year, and are now trading near a record. It's the latest twist in a global cocoa crisis that has hurt profits for the world's largest chocolate makers and left consumers paying more for less. Companies from Mars Inc. to Hershey Co. have turned to tactics including reducing bar sizes, adding things like nuts and even promoting non-chocolate products altogether. Raaka Chocolate Inc., a New York-based artisan chocolatier, said it's now paying three times more for the cocoa powder it uses in its hot chocolate mixes and a new sauce the company plans to launch this fall. And the product is becoming harder and harder to find. 'Everyone has contracted everything that is coming into the country,' said Raaka co-founder Nate Hodge, who secured supplies from a partner in Peru. 'It's just super hard to come by right now.' US cocoa powder prices are trading just below $9,000 a metric ton, near a February record, according to KnowledgeCharts, a unit of Commodity Risk Analysis. Prices in Europe are above $10,000 a ton, not far from an all-time high reached in May. The cocoa powder shortage deepened when the food industry tried to replace pricey cocoa butter, which accounts for 20% of the weight of an average chocolate bar. That's because substitutes made with vegetable oils are paler than cocoa butter and have no flavor of their own, forcing confectioners to use more powder to restore color and taste, according to Zachary Freed, a product development manager at Blommer Chocolate Co., the largest cocoa processor in North America. Pricey cocoa beans are also reducing margins for processors around the world, and the shift away from the butter is also reducing the financial incentive to grind more. After all, cocoa butter is the moneymaking product, costing about $8,000 a ton more than powder, according to KnowledgeCharts. 'If customers demand less butter on the market, for chocolate, you're going to create less powder,' said Kojo Amoo-Gottfried, North America managing director for cocoa and chocolate at Cargill Inc., the world's second-largest cocoa processor. With powder so scarce, a market for alternatives is also emerging. Germany-based Doehler Group SE earlier this year introduced a cheaper replacement that includes carob powder, a common chocolate swap that comes from an evergreen tree. Ardent Mills LLC, the largest flour miller in North America, developed a wheat-based powder and is now working with customers to use it in baked goods and snacks, which could arrive on grocery shelves within the next year, according to Chief Growth Officer Angie Goldberg. Ardent Mills' wheat-based swap was initially tested in substitution of as much as 25% of cocoa powder in baked goods, but the company is 'continuing to push the envelope' by replacing as much as half of a product's powder, Goldberg said. A manufacturer might even be able to entirely use the product in offerings where cocoa powder is only necessary to provide color but not flavor, she added. In some cases, food companies are just pushing snack bars and baked goods that focus more on flavors like caramel and vanilla, said Ina Dawer, the global insight manager for ingredients at Euromonitor International. 'We are in an era where chocolate indulgence will no longer rely solely on cocoa,' Dawer said. Some bakers are also using more food colorings or ingredients like coffee to naturally boost chocolate flavor in treats. For consumers, this could mean lighter cookies, shifting from 'fudgy, dark' to more flour-heavy versions, according to Bridget Vickers, a senior chef instructor at the Institute of Culinary Education. Still, alternatives can only go so far. Cocoa powder is still needed for color, moisture and texture. It also interacts with ingredients like baking soda to help a cake rise, Vickers said. And supplies are unlikely to rebound any time soon. Cocoa processing in Europe, the biggest global market, slumped 3.7% in the first quarter to the lowest for this time of year since 2017. A similar trend has been observed in North America. 'We expect powder prices to remain as they are as a result,' Amoo-Gottfried said. --With assistance from Gerson Freitas Jr.. Will Trade War Make South India the Next Manufacturing Hub? 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate 'Telecom Is the New Tequila': Behind the Celebrity Wireless Boom SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too ©2025 Bloomberg L.P. Sign in to access your portfolio
Forbes
04-07-2025
- Business
- Forbes
The Latest Quirky Employee Perks That Actually Build Loyalty At Work
The Latest Quirky Employee Perks That Actually Build Loyalty At Work Employee perks used to include things like a free lunch or maybe a discounted gym membership. But in today's workplace, perks are changing. Companies are trying to stand out by offering experiences that go far beyond Kombucha or sleep pods. Some are thoughtful and some are strange. I have seen companies have games like ping pong tables to blow off stress. That was popular, but I have seen some perks that were just uncomfortable. One company I worked for offered free neck massages, but no one ever used them. It was just weird to have someone rubbing your neck in front of your coworkers. Sometimes leaders aren't curious enough to ask what people really want. It is interesting to see the direction some organizations are taking, though. Employee Perks That Include Time Off For Pet Loss Or Adoption Employee Perks That Include Time Off For Pet Loss Or Adoption People love their pets. I have a Labrador named Luna who is a big part of my life. It was challenging when she was a puppy, and I cannot even imagine how sad it will be one day when she is gone. I can see that having pet insurance would be a nice benefit. But some perks go beyond that. Companies like Amazon, Kimpton Hotels, and Mars Inc. have begun to offer paid time off when an employee adopts a new pet or loses one. A 2023 WorkLife report highlighted the growing trend of 'pawternity' leave, where companies recognize the emotional toll of losing or gaining a pet. These policies reflect how emotional wellbeing is being acknowledged in more personal ways than ever before. Employee Perks That Include Free House Cleaning Employee Perks That Include Free House Cleaning Akraya, a staffing and IT consulting firm based in Sunnyvale, California, provides employees with professional housecleaning every two weeks. They don't offer it as a coupon or a discount. They actually send someone to your home and pay for the full service. The idea is to give people back time they would have spent on chores. It's a practical benefit, but some employees might prefer the money to choose their own cleaner or use it for something else. Still, it stands out because it solves a real problem. Employee Perks That Include Gardening and Beekeeping Employee Perks That Include Gardening and Beekeeping Companies like Clif Bar and Burt's Bees run onsite gardens and apiaries where employees can volunteer. These are structured programs where people grow vegetables or tend beehives during work hours. That might sound ideal to some, but not everyone wants to dig in the dirt or deal with bees. I would probably pass on both. It's hard to picture tending a garden at work and then jumping right into a Zoom call. Like companies that offer gyms and other sweat-producing activities, for women, that may be less appealing if it means getting sweaty and then trying to look polished again. Employee Perks That Include Personal Dream Support Employee Perks That Include Personal Dream Support I have worked for companies where I won multiple trips to places like Hawaii and St. Thomas for being a top salesperson. They were amazing experiences because they spared no expense. But they were only offered to salespeople at that time. Today, instead of traditional bonuses, some companies are experimenting with ways to support employees' personal goals. Propellernet, a Brighton-based digital marketing agency, runs a program where employees submit personal dreams, like writing a book or learning to cook in Italy, and the company funds one of them each time a business milestone is hit. Recent dreams they've funded include dog sledding in Norway and becoming a stunt performer. These creative approaches show that the company cares about more than just performance. They care about the person behind the role. Employee Perks That Include Lifestyle Stipends Employee Perks That Include Lifestyle Stipends This one seems the most appealing to me. More companies are skipping the one-size-fits-all approach and giving people monthly stipends for whatever makes their life easier. Google has experimented with lifestyle perks over the years, and companies like Evernote, Airbnb, and Expensify have offered flexible lifestyle funds that can be applied to everything from personal wellness to continuing education. These stipends can go toward home cleaning, fitness, education, or even personal hobbies. It's flexible and current. Instead of guessing what people want, companies are asking them to choose. This kind of benefit feels like a smarter way to respect individuality without trying to predict everyone's preferences. Employee Perks That Actually Work Employee Perks That Actually Work Not every benefit gets used. Some seem to exist just for the company to say they're progressive or employee-friendly. I've seen perks that looked great in the onboarding packet but never motivated me. One of the most frustrating ones was being expected to attend mandatory evening dinners that were labeled as a perk. For someone who values personal time, that didn't feel like a benefit at all. People tend to appreciate perks that give them more control over their time. Whether it's time off for a pet, help at home, or funding for personal goals, the most effective perks are the ones that actually reduce stress. That doesn't mean everyone will use the same things. A rock-climbing wall at the office might sound fun to some, but others are thinking about what they're supposed to do with their hair and makeup afterward. Choice matters. The Financial Impact of Employee Perks The Financial Impact Of Employee Perks Perks may feel like extras, but they can directly impact retention, morale, and even productivity. A 2023 MetLife Employee Benefit Trends study found that 61% of employees who are satisfied with their benefits are more likely to stay with their employer. Companies that align perks with what people actually want are better positioned to compete for talent in today's market. The Final Word On Employee Perks The Final Word On Employee Perks Sometimes, the quirkiest perks are the ones people talk about the most. But that doesn't mean they work. Before offering something new, it helps to ask one question: Is this something people will actually want, or something leadership thinks they should want? To motivate people, that is something leaders should really consider.
Chicago Tribune
26-06-2025
- Business
- Chicago Tribune
Pringles maker Kellanova's shares rise after US regulators approve its proposed merger with Mars
Snack maker Kellanova's shares rose Thursday on news that its proposed merger with Mars Inc. had cleared U.S. regulators. The U.S. Federal Trade Commission announced late Wednesday that after nearly a year of investigation, it determined that a merger between Mars and Kellanova wouldn't threaten competition in the market. Kellanova shares were up nearly 1% in morning trading. Mars is privately held. McLean, Virginia-based Mars makes sweet snacks like M&M's, Snickers and Skittles as well as Ben's Original rice and pet food. Chicago-based Kellanova, which was created in 2023 when the Kellogg Co. split into two companies, owns brands including Cheez-its, Pringles, Eggo, Town House, MorningStar Farms and Rice Krispies Treats. Last August, Mars announced its intention to buy Kellanova for $35.9 billion. It said the deal would help it broaden its snacking portfolio and expand globally. Around 50% of Kellanova's net sales come from outside the U.S. and Canada. Mars President and CEO Poul Weihrauch said that with the FTC's decision, the proposed merger has now cleared all but one of the 28 regulatory approvals it sought. An antitrust review by the European Commission remains outstanding. 'This brings us one step closer to uniting two iconic businesses with complementary footprints and portfolios, allowing us to deliver more choice and innovation to consumers,' Weihrauch said in a statement. Mars and Kellanova said they expect the deal to close towards the end of this year, pending the European review.
