Cocoa trader moves market single-handedly
Anthony Ward, the UK financier, this week moved the cocoa market single-handedly with a deal worth in excess of £650 million. He now owns enough cocoa to produce 5.3 billion quarter pound chocolate bars and could single-handedly force chocolate bar manufacturers around the world to increase their prices. So who is Anthony Ward and why has he taken such a gamble?
Rumoured to be worth in the region of £36 million, Anthony Ward has taken a number of significant gambles on the cocoa in the past and bagged some very large profits. The price of this popular commodity increased by 0.7% to £2732 per metric ton after the transaction, which is the highest cocoa price seen since 1977. Anthony Ward carried out a similar transaction back in 2002 and bagged a profit of £40 million taking advantage of supply issues in Africa.
Over the last few months we have seen how the commodity, and other investment markets, can be heavily influenced by a small number of large transactions, often having a significant impact upon the wider economy. Even though investors are now fully aware of Anthony Ward's position in the market he still hopes to bag a large profit in due course if the price continues to move north.
Pay Deal Announced For Fuel Delivery Drivers
Good news this evening with confirmation that the dispute between the Unite Union, Hoyer UK and Suckling Transport has been resolved with the Union accepting an undisclosed pay offer from the delivery firms. This brings to an end what could have been a very costly and crippling series of strikes, with more industrial action planned for this weekend. It has taken a massive effort from Shell to en...Read More
Energy bills set to rise in the future
In another blow to UK consumers and businesses, it has been revealed that UK energy prices will have to rise in the future in order to "pay for investment into nuclear energy". It is no secret that the UK government has been looking to expand the nuclear side of the power generation system in the UK with little or no success to date. However, a government minister has confirmed that the cost of in...Read More
Broadband Is Still A Growing Market
Figures released today by the Office for National Statistics (ONS) show that broadband use in the UK is hitting record levels with 56% of households using broadband against 51% last year. It seems that the sector is still very much in demand even though the financial climate in the UK has taken a turn for the worst.
While the increase could be claimed to be a little misleading be...
Energy firms issue the most inaccurate bills
UK energy firms have been accused of issuing the most inaccurate household bills, in a poll of consumers on the performance of providers in ten different industries. The survey revealed energy and gas suppliers as the worst in terms of the accuracy of their bills - around a third of those questioned in the YouGov poll said that they had been given an inaccurate bill by their energy company in the...Read More
Council Agrees To Executive Working From Home, In Australia!
In a move which has been ridiculed by the Taxpayers Alliance Group it has been announced that Fenland District Council in Cambridgeshire has agreed to continue employing their executive director and chief finance officer Mat Taylor even though he is emigrating to Australia in October. While his current salary of £100,000 a year will be cut to £20,000 when he move to Australia he will only be wo...Read More