Xorte logo

News Markets Groups

USA | Europe | Asia | World| Stocks | Commodities



Add a new RSS channel

 
 


Keywords

2025-03-03 15:22:03| Fast Company

Catherine Bashiama runs her fingers along the branches of the coffee tree she’s raised from a seedling, searching anxiously for its first fruit buds since she planted it three years ago. When she grasps the small cherries, Bashiama beams.The farmer had never grown coffee in her village in western South Sudan, but now hopes a rare, climate-resistant species will help pull her family from poverty. “I want to send my children to school so they can be the future generation,” said Bashiama, a mother of 12.Discovered more than a century ago in South Sudan, excelsa coffee is exciting cash-strapped locals and drawing interest from the international community amid a global coffee crisis caused mainly by climate change. As leading coffee-producing countries struggle to grow crops in drier, less reliable weather, prices have soared to the highest in decades and the industry is scrambling for solutions.Experts say estimates from drought-stricken Brazil, the world’s top coffee grower, are that this year’s harvest could be down by some 12%.“What history shows us is that sometimes the world doesn’t give you a choice, and right now there are many coffee farmers suffering from climate change that are facing this predicament,” said Aaron Davis, head of coffee research at the Royal Botanic Gardens, Kew, in London.Excelsa could play a key role in adapting. Native to South Sudan and a handful of other African countries, including Congo, Central African Republic, and Uganda, excelsa is also farmed in India, Indonesia, and Vietnam. The tree’s deep roots, thick leathery leaves and big trunk allow it to thrive in extreme conditions such as drought and heat where other coffees cannot. It’s also resistant to many common coffee pests and diseases.Yet it comprises less than 1% of the global market, well behind the arabica and robusta species that are the most consumed coffees in the world. Experts say excelsa will have to be shown to be practical at a much larger scale to bridge the gap in the market caused by climate change. Coffee’s history in South Sudan Unlike neighboring Ethiopia or Uganda, oil-rich South Sudan has never been known as a coffee-producing nation.Its British colonizers grew robusta and arabica, but much of that stopped during decades of conflict that forced people from their homes and made it hard to farm. Coffee trees require regular care such as pruning and weeding and take at least three years to yield fruit.During a visit earlier this month to Nzara County in Western Equatoria stateregarded as the country’s breadbasketresidents reminisced to Associated Press reporters about their parents and grandparents growing coffee, yet much of the younger generation hadn’t done it themselves.Many were familiar with excelsa, but didn’t realize how unique it was, or what it was called, referring to it as the big tree, typically taller than the arabica and robusta species that are usually pruned to be bush- or hedge-like. The excelsa trees can reach 15 meters (about 49 feet) in height, but may also be pruned much shorter for ease of harvesting.Coffee made from excelsa tastes sweetunlike robustawith notes of chocolate, dark fruits, and hazelnut. It’s more similar to arabica, but generally less bitter and may have less body.“There’s so little known about this coffee, that we feel at the forefront to trying to unravel it and we’re learning every day,” said Ian Paterson, managing director of Equatoria Teak, a sustainable agro-forestry company that’s been operating in the country for more than a decade.The company’s been doing trials on excelsa for years. Initial results are promising, with the trees able to withstand heat much better than other species, the company said. It’s also working with communities to revive the coffee industry and scale up production. Three years ago it gave seedlings and training to about 1,500 farmers, including Bashiama, to help them grow the coffee. The farmers can sell back to the company for processing and export.Many of the trees started producing for the first time this year, and Paterson said he hopes to export the first batch of some seven tons to specialty shops in Europe. By 2027, the coffee could inject some $2 million into the economy, with big buyers such as Nespresso expressing interest. But production needs to triple for it to be worthwhile for large buyers to invest, he said. Challenges of growing an industry amid South Sudan’s instability That could be challenging in South Sudan, where lack of infrastructure and insecurity make it hard to get the coffee out.One truck of 30 tons of coffee has to travel some 1,800 miles (3,000 kilometers) to reach the port in Kenya to be shipped. The cost for the first leg of that trip, through Uganda, is more than $7,500, which is up to five times the cost in neighboring countries.It’s also hard to attract investors.Despite a peace deal in 2018 that ended a five-year civil war, pockets of fighting persist. Tensions in Western Equatoria are especially high after the president removed the governor in February, sparking anger among his supporters. When AP reporters visited Nzara, the main road to town was cut off one day because of gunshots and people were fleeing their villages, fearful of further violence.The government says companies can operate safely, but warned them to focus on business.“If I’m a businessman, dealing with my business, let me not mix with politics. Once you start mixing your business with politics, definitely you will end up in chaos,” said Alison Barnaba, the state’s minister of Agriculture, Forestry and Environment.Barnaba said there are plans to rehabilitate old coffee plantations and build an agriculture school, but details are murky, including where the money will come from. South Sudan hasn’t paid its civil servants in more than a year, and a rupture of a crucial oil pipeline through neighboring Sudan has tanked oil revenue.Growing the coffee isn’t always easy, either. Farmers have to contend with fires that spread quickly in the dry season and decimate their crops. Hunters use fires to scare and kill animals and residents use it to clear land for cultivation. But the fires can get out of control and there are few measures in place to hold people accountable, say residents. Coffee as a way out of poverty Still, for locals, the coffee represents a chance at a better future.Bashiama said she started planting coffee after her husband was injured and unable to help cultivate enough of the maize and ground nuts that the family had lived on. Since his accident she hasn’t been able to send her children to school or buy enough food, she said.Another farmer, 37-year-old Taban John, wants to use his coffee earnings to buy a bicycle so he can more easily sell his other crops, ground nuts, and cassava, and other goods in town. He also wants to be able to afford school uniforms for his children.Excelsa is an opportunity for the community to become more financially independent, say community leaders. People rely on the government or foreign aid, but when that doesn’t come through they’re not able to take care of their families, they say.But for cofee to thrive in South Sudan, locals say there needs to be a long-term mentality, and that requires stability.Elia Box lost half of his coffee crop to fire in early February. He plans to replace it, but was dispirited at the work it will require and the lack of law and order to hold people accountable.“People aren’t thinking long-term like coffee crops, during war,” he said. “Coffee needs peace.” The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. It receives financial support for global health and development coverage in Africa from the Gates Foundation. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org. Sam Mednick, Associated Press


Category: E-Commerce

 

LATEST NEWS

2025-03-03 14:45:00| Fast Company

The closing days of February were not good ones for job security in the tech industry. Over the month’s final week, major industry players, including HP, Grubhub, and Autodesk announced plans to reduce their workforce, while another startup seems to be shutting down entirely. Heres what you need to know about the latest round of tech layoffs. HP to cut up to 2,000 workers Without a doubt, the largest number of job cuts over the last week of February was announced by computer maker HP. In a Form 8-K filing with the U.S. Securities and Exchange Commission (SEC), dated February 27, HP revealed it will eliminate between 1,000 and 2,000 of its workers. The layoffs were authorized via an amendment to the companys restructuring plan, which aims to see the company cut costs. HP expects incremental gross workforce reductions of approximately 1,000 to 2,000 employees in connection with the amendment, the company said in the filing. However, HP did not state which departments or jobs were most at risk. The changes to the workforce will vary by country, based on local legal requirements and consultations with employee works councils and other employee representatives, as appropriate. HP employed roughly 58,000 people in 2024, according to Statista. Grubhub to lay off 500 workers Food delivery company Grubhub announced on Friday that it would lay off about 500 people, Reuters reported. The cuts come after food delivery startup Winder bought Grubhub in November 2024.  Grubhub reportedly employed about 2,200 people before the layoffs, which means the cuts will see over 20% of its staff let go. Autodesk to eliminate 1,350 employees Design software giant Autodesk, meanwhile, has announced it will lay off 1,350 workers. That equated to about 9% of its total workforce. In a memo to Autodesk employees, CEO Andrew Anagnost said the layoffs were driven by several factors, including the company reshaping its Go-to-Market (GTM) organization and its acceleration of investments in artificial intelligence. To the latter point, Anagnost said, Our investments in cloud, platform, and AI are ahead of our peers and enable Autodesk to provide more valuable and connected solutions that support a much broader customer and developer ecosystem. To maintain and extend this leadership, we are shifting resources across our GTM, Platform, Industry, and Corporate functions to accelerate investments in these strategic priorities. Ibotta to eliminate 8% of its employees The mobile cash rewards company Ibotta announced on Friday that it would be laying off approximately 8% of its workers, reports the Colorado Sun. That equates to about 70 jobs lost out of the 858 employees the company had in September 2024. A company spokesperson said the layoffs were part of a strategic realignment based on our business priorities. HerMD to lay off all workers  Finally, womens health startup HerMD has announced it will lay off all employees and shut down the company. Business Journals outlet Cincy Inno reports that industry challenges were a factor in HerMD closing its doors.  In an email cited by the outlet, HerMD said, This decision was not made lightly, but it became necessary because of the ongoing challenges in health care that have made it increasingly difficult to sustain the quality care we provide and that we know our patients truly deserve. Tech layoffs now top 18,000 in 2025 With the addition of the tech layoffs above, jobs lost in the tech industry so far in 2025 have now totaled 18,397 across 75 companies, according to tech layoffs tracker Layoffs.fyi. That compares to the 152,472 tech employees laid off at 549 tech companies in 2024, and the 264,220 tech employees laid off at 1,193 tech companies in 2023.


Category: E-Commerce

 

2025-03-03 14:21:24| Fast Company

There were a lot of smiling faces at the Oscars but one had to stand outSean Baker saw his film Anora go home with the top film prize and he took four for himself. Its star Mikey Madison was crowned best actress.Twenty-two years after winning best actor for The Pianist, Adrien Brody won the same Oscar again for his performance as another Holocaust survivor in Brady Corbet’s The Brutalist. He somehow kept the playoff music at bay.On Sunday, firefighters who battled recent wildfires got applauded, Mick Jagger handed out the best original song Oscar, and John Lithgow was tasked with looking “slightly disappointed” when speeches ran long. One highlight was Timothée Chalametliterally. His yellow suit got more than one comment.Here were some other telecast highlights: ‘Proud child of immigrant parents’ Zoe Saldaa was the favorite but that didn’t diminish her emotional win.After accepting the Oscar for best supporting actress for her work in Emilia Pérez, Saldaa spoke emotionally about her family and her grandmother, tearing up during her speech.“My grandmother came to this country in 1961I am a proud child of immigrant parents,” she said. “With dreams and dignity and hard-working hands, and I am the first American of Dominican origin to accept an Academy Award, and I know I will not be the last. I hope. The fact that I’m getting an award for a role where I got to sing and speak in Spanishmy grandmother, if she were here, she would be so delighted, this is for my grandmother.”The accolade comes after Saldaa swept awards season, taking home the Golden Globe, Critics’ Choice, BAFTA, and SAG awards for playing lawyer Rita Mora Castro. A ‘Wicked’ opening Host Conan O’Brien took a back seat at the Oscars’ opening number, ceding the floor to a Wizard of Ozthemed, eight-minute musical medley led by Ariana Grande and Cynthia Erivo.Grande, in a red sparkly dress, performed a rendition of “Somewhere Over the Rainbow” from The Wizard of Oz. Then Erivo, in a white gown with floral embellishments, took the stage to sing a staggering rendition of “Home” from The Wiz. They joined up for Wicked‘s “Defying Gravity,” with Grande kissing Erivo’s ring.Wildfire-battered Los Angeles, on this night, stood in for Oz, with the graphic “We Love LA” showing after the pair were finished. The show began with a medley of film moments that used Los Angeles as a backdrop, including La La Land, Straight Outta Compton, Iron Man 2, and Mulholland Drive.Then it was O’Brien’s turn, comically pulling himselfand a missing shoefrom within the body of Demi Moore, in a take on her film The Substance. A verymaybe toopublic family discussion While accepting an Emmy Award in January 2024, Kieran Culkin used his time onstage to plead with his wife for more kids. They have two, Kinsey Sioux and Wilder Wolf. “You said maybe if I win,” he said, cheekily.On Sunday, he upped the demand.Culkin from the Oscar stage repeated the story and then said that he and Jazz Charton made a deal in the parking lot at the Emmys: If he won an Oscar, she’d not only give him a third, they could plan for a fourth. They even shook on it.“I just have to say this to you, Jazz, love of my life, ye of little faith,” he said as the crowd roared. “No pressure, I love you. I’m really sorry I did this again. Now let’s get cracking on those kids, what do you say?”The moment got an echo later in the night when I’m Not A Robot director Victoria Warmerdam said she wasn’t following Culkin’s lead.“To my producer and partner in life, Trent: I’m not having your babies because of this statue,” she said after winning best live action short. 007, celebrated by women There was no James Bond movie nominated in 2024 but there was a big James Bond section at the Oscars that ate up a lot of telecast time.To honor transfer of the franchise to Amazon, three singersLisa, Doja Cat, and Rayeeach sang a different 007 title song. Lisa sang “Live and Let Die,” Doja Cat tackled “Diamonds Are Forever,” and Raye did “Skyfall.”Amazon MGM announced Thursday that the studio has taken the creative reins of the 007 franchise after decades of family control. Longtime Bond custodians Michael G. Wilson and Barbara Broccoli said they would be stepping back. On Sunday, Halle Berry thanked them for being the “heart and soul” of Bond.The tribute began with The Substance nominee Margaret Qualley in a red gown taking to the stage to dance acrobatically with a team of male dancers to the James Bond theme. Gene Hackman honored Morgan Freeman made an understated tribute to a friend: Gene Hackman. Freeman, who starred with Hackman in two movies, kicked off the in memoriam section with a somber note about Hackman, who was found dead last week alongside his wife.“This week, our community lost a giant. And I lost a dear friend, Gene Hackman,” Freeman began in his speech. “I had the pleasure of working alongside Gene on two films, Unforgiven and Under Suspicion. Like everyone who ever shared a scene with him, I learned he was a generous performer and a man whose gifts elevated everyone’s work.”“Gene always said, ‘I don’t think about legacy. I just hope people remember me as someone who tried to do good work,'” Freeman continued. “I think I speak for us all when I say, ‘Gene, you will be remembered for that, and so much more.’ Rest in peace, my friend.”The in memoriam section would honor such luminaries as Teri Garr, Donald Sutherland, Louis Gossett Jr, Shelley Duvall, David Lynch, Bob Newhart, Gena Rowlands, Maggie Smith, and James Earl Jones. A separate section in the telecast honored Quincy Jones. How to stop the wrap-up music It has been an endless torment to winners everywhere whenever they hear the music swelling. It means one thing: Stop talking.Brody had a novel response to the playoff music Sunday. He looked sternly into the camera and said: “I’m wrapping up, please turn the music off. I’ve done this before. Thank you. It’s not my first rodeo, but I will will be brief.”It’s true. He won the Oscar in 2003 for The Pianist, memorably kissing Halle Berry at the podium. But that time he was pleading, not demanding, more time from producers.When the music started rolling during his emotional speech back then, Brody said: “One second, please. One second. Cut it out. I got one shot at this.” He added, “I didn’t say more than five names,I don’t think.” He went on for more than a minute more. For more coverage of this year’s Oscars, visit: https://apnews.com/hub/academy-awards Mark Kennedy, AP Entertainment Writer


Category: E-Commerce

 

Latest from this category

03.03Did private equity kill Joann fabrics? Maybe not, but experts say its fingerprints are at the crime scene
03.03Serena Williams joins WNBAs Toronto Tempo ownership group
03.03Airlines seek less helicopter traffic near Washington, D.C. airport after plane crash
03.03CIA visits SXSW festival to offer tips on creative problem-solving
03.03How a looming government shutdown might impact your tax refund, Social Security, and more
03.03Kroger CEO Rodney McMullen resigns after probe into personal conduct
03.03Crypto prices jump after Trump announces a new strategic government reserve
03.03Adrien Brodys record-breaking Oscar speech was a case study in entitlement
E-Commerce »

All news

04.03ETMarkets PMS Talk: Wallfort PMS focuses on Small & Midcaps with 'Four P' investment strategy, explains Bhavya Shah
04.03Do PSU, defence stocks look attractive amid correction? Ashish Gupta breaks it down
04.03ITC shares in focus after Wells Fargo sells stocks worth Rs 106 crore
04.03Stocks to buy: RIL, Polycab and Angel One on investors' radar
04.03Ethos ticks well on D-St with rising sales of luxury watches
04.03Ms Patience scores big with long play on mutual funds
04.03Cut long-term capital gains tax to make India attractive again: Experts
04.03Why detecting methane is difficult but crucial work
More »
Privacy policy . Copyright . Contact form .