New York CNN Business — Coffee futures are crashing. But that might not mean too much for the price of your cup of coffee. In August, Arabica coffee futures were trading at $2.43 per pound. By Wednesday, the price had tumbled to $1.59, a roughly 35% decline. There are a few reasons for the steady […]
New York CNN Business — Oscar Mayer. Velveeta. Capri Sun. Kraft Heinz CEO Miguel Patricio admits: Some of the company’s iconic products had become “a little bit dusty.” “For a while, we were apologetic about the brands that we had,” Patricio told CNN Business. “We got distracted believing that the future was launching new small […]
New York CNN Business — Between warnings of a recession, high inflation and layoff fears, the news is bleak. Why not have some chocolate? Chocolate makers are reporting booming sales as stressed out customers reach for something sweet to take the edge off. In the third quarter, sales of Hershey’s (HSY) chocolates, which include Reese’s, […]
New York CNN Business — Samuel Roe, regional sales manager for Terlato Wines, had business associates visiting a few weeks ago and called a friend at one of the most expensive rooftop eateries in New York to ask if his group could get a table. He got a reservation, he said, but also a request: […]
CNN — N. R. Narayana Murthy, one of India’s richest people, had mixed feelings when he first heard about the man who would become his son-in-law. “I, too, was a little sad and jealous when you told us you had found your life partner,” he wrote to his daughter Akshata Murty in a letter, published […]
New York CNN Business — Barilla can’t avoid a class-action lawsuit over allegedly deceptive advertising about the pasta’s origins, a federal judge ruled this week. At issue is the brand’s slogan “Italy’s No. 1 brand of pasta,” which the lawsuit says can lead customers to believe it’s actually made in Italy. The customers that filed […]
New York CNN Business — Lisa Altman used to take pride in being able to eat what she wanted without worrying much about the cost. When she was growing up, seconds weren’t served and side dishes were rare. “My mom had a budget every week, and she stuck to it,” she said. “As I got […]
Editor’s Note: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. Sign up here. Hong Kong CNN Business — The future looked promising for Cherry in May last year, when she secured a […]
Hong Kong/Seoul CNN Business — Clark Park, a 35-year-old YouTuber, is one of many people in South Korea fed up with high food prices. That’s why he grabbed his camera and joined a huge throng of shoppers clamoring for cheap fried chicken one August morning at Homeplus, a hypermarket chain that had just slashed 12% […]
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