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.
Online sales growth show signs of slowing
Figures just released from IMRG Capgemini show that the ongoing growth in online sales continued in February 2009 with a 13% increase over the corresponding period last year. This comes at a time when the general retail sector is in sharp decline although there have been signs of many consumers switching from the off-line market to the online arena. However, there was a significant fall in online...Read More
UK holiday company collapse
UK holiday company Goldtrail collapsed yesterday with 16,000 customers left stranded overseas and future holidays under threat. There is also anger regarding the fact that many customers were left waiting with no news at various airports around the UK, despite the fact that the company had collapsed hours earlier. So what next for stranded holidaymakers? The Civil Aviation Authority is currentl...Read More
Carphone Warehouse sees 160,000 Tiscali customers disappear
When Carphone Warehouse agreed to acquire the UK business of Tiscali for £236 million it had expected to receive in excess of 1.4 million subscribers. However, today it has been revealed that around 160,000 Tiscali UK customers have "disappeared" during the transfer, which will see a reduction in the purchase price of between £20 million and £25 billion. So what next for Carphone Warehouse?
UK train operators plead with regulators
It has been revealed today that UK train operators on the verge of being forced to cut ticket prices due to their ongoing pricing formula agreed with the regulator. Almost 50% of UK train fairs are currently under the pricing structure formula which allows train companies to increase prices by 1% above inflation per annum. As we approach the real danger of deflation they could actually see train t...Read More
TalkTalk refuses to accept Digital Economy Bill
In a bitter blow for the UK government, UK ISP TalkTalk has today refused to accept some of the more draconian measures introduced by the Digital Economy Bill. The main measures which the company disagrees with relate to consumers needing to protect themselves from hackers and the fact that many consumers could become inadvertently embroiled in large-scale computer piracy by unknown third parties....Read More