Latest news with #price increase
Bloomberg
a day ago
- Business
- Bloomberg
Global Thirst for Matcha Drives Top Japanese Tea Brand to Double Prices
A major Japanese tea producer will double prices for some of its matcha products amid exploding global demand and limited supply of the prized green tea powder. Prices for some types of ceremonial-grade matcha will rise by as much as 100% from September 1, Ito En Ltd. said. More than a dozen of the products are sold out on the company's online store.
BBC News
2 days ago
- Automotive
- BBC News
Adidas to raise prices as US tariffs cost €200m
Adidas has warned that US tariffs will cost the German sportswear giant a further €200m (£173m) and confirmed that it will raise prices for American customers. Nearly half of the company's products are made in Asian countries which recently agreed trade deals with the US. Announcing its latest results, Adidas chief executive Bjorn Gulden said the tariffs "will directly increase the cost of our products for the US".He admitted that the company still does not know what the impact will be on customer demand "should all these tariffs cause major inflation". The two largest source countries for Adidas goods are Vietnam, which makes 27% of the sportswear brand's products, and Indonesia, which makes 19%.Earlier this month, the US struck trade deals with both countries, agreeing to impose a 20% tariff on goods from Vietnam and a 19% tariff on Indonesian-made companies that ship in Adidas products to sell in America have to pay the tariff. The sportswear giant, which makes the popular Gazelle and Samba trainers, had previously warned that it cannot produce most of its products in the Gulden said US tariffs have already impacted the company but he said the latest indications point to tariffs directly increasing "the cost of our products for the US with up to €200m during the rest of the year". On Wednesday, other firms outlined how US tariffs had hit their businesses so Mercedes-Benz said the tariffs were largely to blame for second-quarter profit falling by nearly 70%. Fellow German luxury car brand, Porsche said it had increased prices by up to 3.6% to cover the cost of higher import taxes while in the UK, Aston Martin warned its profits would be marginal this year due to the this month, Stellantis which owns including Vauxhall, Jeep and Peugeot said the tariffs had already cost it €300m.
The Independent
23-07-2025
- Business
- The Independent
Hershey is raising the price of its candy bars over the high cost of cocoa
Your favorite chocolate bar will soon come with a bigger price tag after Hershey announced it was raising the price of its candy over the high cost of cocoa. Hershey is expected to raise its prices for retail customers by double digits. Prices will generally increase between the low teens and 20 percent, The Wall Street Journal reported Tuesday, citing a company official. But the WSJ reports three-quarters of the candy maker's products should continue to cost $4 or less. Hershey executives have said demand for its products has remained strong, per the WSJ. The company has yet to see its full profits for the summer, when consumers are inclined to grab a pack of Hershey's bars for S'mores by the fire. High cocoa costs are to blame for the price increases at Hershey and other treat companies. Last December, cocoa prices hit over $12,000 per metric ton, according to the WSJ. While costs have fallen to about $8,100 per metric ton this week, they still exceed historic levels. West Africa, which accounts for about 70 percent of the world's cocoa supply, has been hit with poor weather, plant disease, aging tree stocks and destructive small-scale gold mining. While weather conditions have slightly improved, industry sources told Reuters earlier this month West Africa will likely see another 10 percent decline in cocoa output in the 2025 to 2026 season. The WSJ reported in another recent article Swiss chocolatier Lindt & Spruengli had attempted to pass rising cocoa costs onto consumers through price hikes, but even that wasn't enough to make up for the higher cocoa costs.
Telegraph
22-07-2025
- Business
- Telegraph
Nothing stands between rotten water companies and their suffering customers
SIR – Our property is subject to water bills on the basis of an assessed household charge, which does not reflect consumption. This April, Thames Water raised the annual charge by 37 per cent; Ofwat had announced many months before that it was authorising water companies to increase bills by an average of 35 per cent over five years. Clearly, our new charge is excessive, but when I contacted the Consumer Council for Water, it was unable to help and suggested that I get in touch with Ofwat instead. I wrote to Ofwat and, after a delay of more than three months, was told that our water company was responsible for setting, publishing and explaining its charges. In effect, I should query the increase with Thames Water, taking me full circle. No wonder that Ofwat is to be abolished (report, July 21). It appears to be a completely toothless organisation. David Bray Godalming, Surrey SIR – It is probably of little comfort to Robin Willow (Letters, July 20) – whose Thames Water bill has increased by 38 per cent this year – that Severn Trent Water has raised our charges by 43 per cent. This is in spite of Ofwat's agreement with Severn Trent that it would limit its increase to 47 per cent over the course of the next five years. Needless to say, I too have been stonewalled by Ofwat. The sooner it is replaced by a consumer-based regulator, the better it will be for all. Bob Juleff Craven Arms, Shropshire SIR – Part of the problem is that there is still a mixed system of water charging. The original system, based on the rateable value of a property, effectively charged those who could afford bigger houses more than those in small houses, whatever their consumption. That method ended in 1990 with the community charge, and all new houses had to have water meters. As they could not be made compulsory for existing customers, only those for whom it was beneficial to fit a meter made the switch. Even with an above-average rateable value, we stayed on the fixed rate until our children left home. Our water bill then fell to less than half what it had been. Our daughter and her family live in a Victorian terrace with a low rateable value, so don't have a meter, but use considerably more water than we do. If every house had to have a meter, there would be more incentive to reduce consumption. Those on low incomes with children could be supported through benefits, rather than distorting utility bills as a tax by the back door ('Middle class face higher water bills', report, July 20). Roger Jackson Stockport, Cheshire
