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.
Counterfeit products on the increase
As the UK and the worldwide economy lurches further towards a severe and deep recession there has been an increase in the number of counterfeit goods which have found their way into the mass market. The latest goods to be recalled are a number of fake Colgate toothpaste tubes which were sold between 28 November and 5 December. It is not known how these fake products found their way into the market...Read More
Money can buy you love
Money really can buy you love and it does not come cheap either, according to the results of a new survey by Abbey. Research found that over three quarters of a million people had split up with someone because they did not spend enough money on them and another 18 per cent, the equivalent to 5.9 million people nationwide, said that their partners did not splash out enough on them. Birthday and Chr...Read More
Bright idea to cut household bills
Energy-guzzling, old-fashioned light bulbs will start to disappear from shop shelves early next year, as part of efforts to cut CO2 emissions, the secretary of state for the environment Hilary Benn, has announced.However, this move will have a knock-on effect on household bills too - the energy-saving bulbs that are available instead use far less energy, meaning a lower electricity bill for many h...Read More
Caution urged on gas bill credit
Consumers should be cautious about reclaiming credit on their gas bills, Confused.com has warned.New research from moneysupermarket.com has revealed that nearly six million homes in the UK are in credit to their gas company by an average of £79.However, Confused.com's energy expert Gareth Kloet said that customers should find out about their energy consumption from their supplier first.He explain...Read More
Watchdog attacks airlines over website pricing
Airlines must avoid misleading customers by universally switching to pricing that includes taxes, fees and charges (TFCs) on their websites, the industry's watchdog has demanded.In 2005 the Air Transport Users Council (AUC) prepared a report showing that 43 per cent of customers buying plane tickets online were unaware that only some airlines included TFCs in their prices.Today's follow-up report...Read More