Latest news with #Rift
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First Post
09-06-2025
- Business
- First Post
Cone crisis? Why ice cream prices are soaring this summer
An analysis by British consultancy firm Rift found that the cost of ice lollies and cones in UK supermarkets increased by 7.6 per cent in May. With the global ice cream market estimated at $81 billion (nearly Rs 7 lakh crore) in 2024, there is increasing attention on rising prices. Notably, coconut oil, a key ingredient in many ice cream products, has become more expensive, leading to the overall price hike read more An analysis found that prices of ice lollies and cones in UK supermarkets rose by 7.6 per cent in May. Image: Pixabay/Representational Summer and ice cream go hand in hand. But what if that chilled treat ends up costing more right when the heat is at its peak? An analysis by British business consultancy Rift found that prices of ice lollies and cones in UK supermarkets rose by 7.6 per cent in May. ALSO READ | Having ice cream to beat the heat? Here's why it's not the best idea With the global ice cream market valued at $81 billion in 2024, there is a growing focus on what is behind these changing prices. STORY CONTINUES BELOW THIS AD So, what's pushing ice cream prices up, and which parts of the world are behind the impact? We answer these questions: Why ice cream prices are rising this summer Coconut oil is an essential ingredient in many ice cream products, and its rising cost has pushed up ice cream prices this year. As demand continues to be higher than supply, prices are expected to go up further. Further price gains are likely as demand continues to outpace supply. Last year, the ice cream industry brought in close to $80 billion in sales. Image: Pixabay/Representational Last week, coconut oil from the Philippines, being sold wholesale in Netherlands' Rotterdam, crossed $2,700 per metric ton. That's almost twice the price compared to the same time last year and roughly 200 per cent higher than the average between 2000 and 2020. The earlier peak was in 2011, when prices touched around $2,300, as per a Bloomberg column by Javier Blas. Coconut oil is widely used in the food industry due to its high melting point. It helps ice cream, especially gelatos and varieties with hard shells, stay solid at room temperature without changing the taste or texture. Ice cream is a major global industry. Last year, it brought in close to $80 billion in sales. What is driving coconut oil prices up? Coconuts grow best in tropical climates with plenty of sunshine and rain. But over the past year, weather patterns have disrupted this balance. The El Nino phenomenon, which causes warmer sea surface temperatures across the Pacific, brought drier conditions to Southeast Asia from June to October last year. This has had a direct impact on coconut production in Indonesia and the Philippines, which together supply about three-quarters of the world's coconut oil. STORY CONTINUES BELOW THIS AD Because coconut trees take around a year to bear fruit, the dry spell has resulted in smaller yields in 2024, reducing the available supply. Coconut oil is an essential ingredient in many ice cream products. Image: Pixabay/Representational However, this decline alone was not enough to cause the sharp spike in prices. The bigger factor lies in a different part of the coconut market: biofuels. In the Philippines, the government requires diesel to be blended with coco methyl ester, a fuel additive made from coconut oil. At first, this policy had little effect on overall supply. But in October last year, the blending target was raised to 3 per cent, with plans to reach 4 per cent by late 2025 and 5 per cent by the end of 2026. ALSO READ | How a Chinese company beat Starbucks, McDonald's to become world's largest fast-food chain Which countries should be watched? The Philippines is the largest producer in this market, accounting for 45 per cent of the world's coconut oil. As the government shifts large volumes of coconuts into biofuel production, ice cream prices in the United States and Europe are expected to rise as a result. STORY CONTINUES BELOW THIS AD If current plans are followed, the Philippines will divert around 4.5 billion coconuts to produce the 500 million litres of coco methyl ester needed to meet its biodiesel targets by late 2026, according to Bloomberg. Coconuts grow best in tropical climates with plenty of sunshine and rain. Image: Pixabay/Representational Indonesia, the second-largest supplier, contributes 28 per cent, followed by India at 13 per cent. The rest of the supply comes from about a dozen other tropical nations, including Vietnam, Bangladesh, Sri Lanka, Mexico and Ivory Coast. Due to poor weather in 2023 and 2024, global production is expected to fall to 3.6 million metric tons in 2024-25, a drop of nearly 10 per cent from the previous season. Early estimates suggest that production will likely remain low in 2025-26 as well. Are chocolates adding to the problem? To cut costs and protect profit margins, more chocolate manufacturers are replacing cocoa with cheaper alternatives like coconut oil. Even at current high prices, coconut oil remains more affordable than cocoa. It is a common substitute for cocoa butter, especially in vegan and dairy-free chocolates. This growing shift in the chocolate industry is adding further demand pressure to an already strained coconut oil supply. STORY CONTINUES BELOW THIS AD
Yahoo
06-06-2025
- Entertainment
- Yahoo
Jimmy Kimmel on ‘Dumb Guy' Elon Musk Going ‘Nuclear' on Trump With Epstein Accusation: This Ends With ‘One of Them in a Cell With Diddy'
Jimmy Kimmel joined in on the late-night host riff session tackling Elon Musk and President Trump's escalating feud, which has seen the tech billionaire leave the administration and allege that the commander-in-chief is named in U.S. government documents about Jeffrey Epstein. Epstein, the disgraced financier and convicted sex offender, died in 2019 in what authorities said was a suicide; he was being held in a Manhattan jail awaiting trial on sex trafficking charges. 'Elon Musk went absolutely nuclear. He tweeted — let's put that up on the big screen — 'Time to drop the really big bomb. Donald Trump is in the Epstein files. That is the real reason they've not been made public,'' Kimmel recounted with a grin. 'I knew this day would come, and yet somehow it's even better than I imagined.' More from Variety Seth Meyers Roasts Elon Musk For Waiting Until Now to Allege 'That Trump Might Be a Pedophile': 'You Already Knew That and It Wasn't a Dealbreaker' Elon Musk Claims Donald Trump 'Is in the Epstein Files': 'That Is the Real Reason They Haven't Been Made Public' Donald Trump Says Elon Musk Has 'Trump Derangement Syndrome' as Rift Grows: 'I Don't Know If We Will' Have a 'Great Relationship' Anymore 'That's a serious accusation. What does Elon know? What evidence could there possibly be that Trump was in league with Jeffrey Epstein? Other than this and this,' Kimmel continued, as archival images and footage of Trump and Epstein together were shown on the broadcast. 'If it's not true, he could get sued for a zillion dollars.' Kimmel then turned the monologue onto Newsmax anchor Carl Higbie, roasting an on-air claim that 'Trump might be working with Elon in tandem here to tank his own bill in a 4D chess move.' 'These dumb guys are so dumb they assume other dumb guys like Trump are geniuses,' Kimmel said. 'In February, Elon tweeted, 'I love Donald Trump as much as a straight man can love another man.' They couldn't quit each other. It was like 'Woke-back Mountain' with these two. Now it's all gone and battle lines are being drawn.' Musk and Trump's alliance has rapidly deteriorated over recent days. On Tuesday, Musk slammed the Trump-backed spending bill as a 'disgusting abomination' and wrote that 'Congress is making America bankrupt.' On Thursday, Trump said he was 'very disappointed because Elon knew the inner workings of this bill' and suggested that Musk — like some others who have left his administration — suffered from 'Trump derangement syndrome.' 'You've got one MAGA hero accusing another MAGA hero of withholding the Epstein files because he himself is a part of them. And what do they do? I can't wait to find out,' Kimmel said. 'My prediction: at the end of this, one of them's in a cell with Diddy.' Guests on Thursday's episode of 'Jimmy Kimmel Live!' included Seth MacFarlane, Draymond Green and Ty Dolla $ign. Best of Variety New Movies Out Now in Theaters: What to See This Week Emmy Predictions: Animated Program — Can Netflix Score Big With 'Arcane,' 'Devil May Cry' and the Final Season of 'Big Mouth?' What's Coming to Netflix in June 2025
Yahoo
05-06-2025
- Politics
- Yahoo
Elon Musk Claims Donald Trump ‘Is in the Epstein Files': ‘That Is the Real Reason They Haven't Been Made Public'
In an explosive allegation, Elon Musk — amid a real-time escalating feud Thursday with President Trump — claimed that Trump is 'in the Epstein files.' Musk, in a post on his X social media platform, wrote, 'Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!' Musk later added, 'Mark this post for the future. The truth will come out.' More from Variety Donald Trump Says Elon Musk Has 'Trump Derangement Syndrome' as Rift Grows: 'I Don't Know If We Will' Have a 'Great Relationship' Anymore Jimmy Kimmel Roasts Trump for Sharing 'Deranged' Theory Claiming Biden Is a Robot Clone: 'This Is Deeply Nuts... if Your Dad Was Saying This, You'd Look for an Assisted Living Facility' Elon Musk Slams Trump's Spending Bill: 'A Disgusting Abomination' 'The Epstein Files' is a reference to U.S. government documents about Jeffrey Epstein, the disgraced multimillionaire financier and convicted sex offender. Epstein died in 2019 in what authorities said was an apparent suicide while he was being held in a Manhattan jail awaiting trial on sex trafficking charges. The White House did not immediately respond to a request for comment on Musk's allegation. On Feb. 27, U.S. Attorney General Pamela Bondi, who was appointed by Trump, declassified and publicly released the 'first phase' of files related to Epstein and 'his sexual exploitation of over 250 underage girls at his homes in New York and Florida, among other locations,' according to a Department of Justice announcement. Many of the documents had already been public and they did not include a list of Epstein's clients; Bondi had told Fox News in a Feb. 21 interview that the Epstein client list was 'sitting on my desk right now.' Before Epstein's death, federal prosecutors had charged him with sex trafficking of girls as young as 14 years old and collecting child pornography. He pleaded not guilty but was denied bail after a judge determined he posed a significant flight risk. Epstein's network of friends in Hollywood, Wall Street and Washington, D.C., had included Trump and many others, including Harvard law professor Alan Dershowitz, Mick Jagger, Kevin Spacey and former President Bill Clinton. According to the New York Times, Musk was 'photographed at a party in 2014 with Ghislaine Maxwell, one of Epstein's longtime associates and a former girlfriend who was convicted in 2021 on charges that she aided Epstein in his sex-trafficking activities.' Maxwell received a 20-year prison sentence in the case. In 2018, Epstein told the Times that he had been advising Musk but Musk denied that at the time. Musk, who owns X, has more than 220 million followers on the platform (formerly called Twitter). Best of Variety Emmy Predictions: Animated Program — Can Netflix Score Big With 'Arcane,' 'Devil May Cry' and the Final Season of 'Big Mouth?' What's Coming to Netflix in June 2025 New Movies Out Now in Theaters: What to See This Week
Hypebeast
04-06-2025
- Business
- Hypebeast
The adidas Stan Smith Low Ballet Emerges With an Ultra Flat Sole
New photos have emerged showing a possible Ballet variant of theadidas Stan Smith Lowthat is allegedly landing this Summer. Evolving from the 'balletcore' and 'cocquette' trends that have infiltrated women's fashion in recent years, the adidas Stan Smith Low Ballet forgoes frilly trims and delicate details for a minimal and refined feel. With an ultra-flat sole, a stripped-down upper, and an elegant seam bisecting the toebox, the model evokes luxury leather shoes likeMaison Margiela's Tabis,Lemaire's Piped Slippers, andThe Row's loafers. Closer to adidas' sphere, the reimagined model also evokesNike's polarizingAir Rift, which features a Japanese-inspired Tabi toe and a Mary Jane-like upper. Rather than leaning into performance sensibilities like it did in theTaqwa Bint Ali x adidas Megaride Mary-Jane, the Stan Smith Low Ballet appears to be more of a lifestyle model due to the absence of technical aesthetics. The variant is shown in two colorways: a sleek all-black and a stark white with bold red trims. Like the original Stan Smith, the classic three stripe overlays are replaced with perforated stripes and the back collar showcases the recognizable trefoil logo. Finally, in place of a traditional lacing system, adidas opts for a truly Ballet-geared design with a singular leather strap. As of the time of writing an official release date has not been announced for the rumored Stan Smith Low Ballet, but stay tuned to Hypebeast for further updates on the model's release.
Newsweek
01-06-2025
- Sport
- Newsweek
Bulls Must Make Major Decision on Josh Giddey Contract
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Chicago Bulls are facing a big decision on just how much they value point guard Josh Giddey this summer. The 6-foot-8 pro, still just 21, will be a restricted free agent this summer. Dan Favale of Bleacher Report observes that the Bulls need to determine just at what price point they will walk away from contract negotiations. Giddey is an exciting offensive talent, capable of racking up triple-doubles as an oversized guard with solid instincts as a scorer and passers. More Chicago Bulls News: Bulls and Lonzo Ball Agree to New $20 Million Deal, Ending Trade Rumors On the year, Giddey averaged 14.6 points on .465/.378/.781 shooting splits, 8.1 rebounds, and 7.2 assists a night in 70 healthy games. In the 22 games he played after the Feb. 8 trade deadline passed (and after the Bulls offloaded Zach LaVine to the Sacramento Kings), Giddey averaged 20.0 points on a .492/.453/.803 slash line, 9.9 rebounds, 8.5 assists, 1.4 steals and 1.0 blocks per bout. Josh Giddey and the Bulls are slight favorites over the Heat on Wednesday night after quietly winning 15 of their final 20 regular-season games. Josh Giddey and the Bulls are slight favorites over the Heat on Wednesday night after quietly winning 15 of their final 20 regular-season where he struggles is on the other end — he lacks the strength or lateral quickness to be a high-level defender. "Chicago must decide how much a useful-but-intensely-limited player is worth in restricted free agency," Favale writes. "A dearth of cap space around the league theoretically allows the Bulls to squeeze him, but they seem unlikely to retain him at the Coby White cheapo special." More Chicago Bulls News: Bulls Championship Banners Damaged by Pyrotechnics of Metal Band Disturbed White, Giddey's starting backcourt colleague, was inked to a three-year, $36 million contract prior to the 2023-24 season. He'll be an unrestricted free agent in 2026, and is theoretically extension-eligible when the new NBA season tips off this summer. That said, White has so thoroughly outplayed his current deal that it behooves him not to agree to an extension (which, at maximum, would pay him 140 percent of his extant contract) and wait to hit unrestricted free agency. Giddey could be seeking a contract worth up to $30 million annually, according to Marc Stein and Jake Fischer of The Stein Line (via Substack). More Chicago Bulls News: Former Bulls Champion Begs Michael Jordan, Scottie Pippen to End Rift "Whatever Giddey's market, Chicago needs to have a predetermined line etched in concrete," Favale opines. "It can't afford to have another noticeably underwater contract on its books after last summer's Patrick Williams' debacle and with White speeding toward a mega raise in 2026 free agency." Williams was signed to a five-season, $90 million deal last summer, and instantly made that contract look horrific with his subpar play in 2024-25. More Chicago Bulls News: Bulls Were Reportedly Willing to Blow Up Roster for Lakers' Luka Doncic Bulls' Lonzo Ball Reveals Massive Injury Update Just Before Playoffs Michael Jordan Opens Another Free Health Clinic in Native North Carolina Drake Claims Michael Jordan Lost $20K on Ping Pong Because He Couldn't Stop Gambling For more Chicago Bulls and NBA news and rumors, head over to Newsweek Sports.
