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.
Public transport benefits from the recession
While there have been very few areas of the economy which have benefitted from the slowdown, it seems as though public transport is enjoying something of an Indian summer. Even the likes of Go-Ahead failed to see this one coming and have been pleasantly surprised to announce figures which were much stronger than expected. So why the move to public transport?
One of the main reason...
British Gas finally reduces electricity prices
While British Gas will today grab the headlines with a 10% reduction in electricity prices it must be noted that the company has lagged the likes of NPower, EDF Energy, EON, Scottish Power and Scottish and Southern Energy by a few months. However, the move will be well received by the 4.5 million British Gas electricity customers who will now save around £132 a year if they are part of the compan...Read More
Is this the right time to be investing into the environment?
As more and more UK consumers feel the rising cost of energy hitting their budgets harder and harder there are calls for the government to abandon its environmental and green policies in the short term. There has been a substantial increase in both individual obligations to the environment and industrial regulations to bring the UK more into line with the rest of the world. The cost of this is put...Read More
Watch Out For The Rogue Telephone Sales Groups
If you have a mobile phone which is coming to the end of its contract you will likely soon receive a call from a company offering you the chance to renew your contract and choose a free phone from the many new ones on offer. They will blind you with science, they will hit you with the newest tariffs available and they will often try to talk you into a deal there and then. But who are these peopl...Read More
Private school fees take a heavy toll on the middle classes
While private schools are not necessarily the exclusive domain of the middle class there is certainly more interest from this more affluent area of society. However, it would appear that over the last few months more and more middle class families are struggling to cover their extensive overheads amid rumours that some have stooped to selling or pawning their jewellery while others have sold cars...Read More