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.
The £200,000 cost of raising a child!
A report by LV= has cast further light on the overall cost of bringing up a child in the UK today. The insurance company has found that the average child will cost upwards of £200,000 to bring up with the vast majority of money being spent on childcare at around £54,000 between the ages of six months and 16 years. There are also other various costs which include nursery fees, education costs,...Read More
Are you planning for your financial future?
In these difficult economic times it can be simply a case of living day-to-day, week to week and month-to-month. However, it is vital that we do not lose sight of the long-term financial future we need to secure for ourselves which includes pensions and savings for later life. While obviously many people are more concerned about their short-term financial situation, with many struggling to cover r...Read More
Family food bills surge by £800
Family food bills have skyrocketed over the last 12 months in the face of shortages of basic agricultural goods, it has been revealed. MySupermarket.com studied the prices of core foodstuffs from the three major food retailers and found that the average family food bill has surged by £800 in the last year. Over this period the price of six pints of semi-skimmed milk has increased by 28p at Tesco,...Read More
Waste not, want not
Even though the above saying has been around for years, many people do not quite understand what it means and how it can save them money in the long run. There are many different interpretations of this particular saying but one which will save you literally hundreds of pounds a year is in relation to your food supplies!
It is common knowledge that UK consumers bin thousands of tons...
How can the government charge 27% interest rates?
The government white paper on the crisis loan fund is dominated by the suggestion that interest will be charged on loans at a rate approaching 30%. Let us not forget these loans are for families around the UK who literally have nothing and need to borrow money off the government, which the currently pay back and 0% interest, to cover such bills as gas and electric. The government has attempted to...Read More