08.12 - News Briefing
Coffee prices are at a 10-year high due to pressures brought on from COVID, shipping bottlenecks and a rise in demand. Traders have been turning to future to enable them to achieve a set price, but this price is double the level at the start of 2021 - to $2.50 a pound.
Tesco distribution staff are threating strike action in the busiest week of the year. Tesco has offered a 4%. Increase - its largest pay rise in 25 years - but the unions argue this is not in line with inflation and it less than the 5% rival firm Morrisons have agreed with their staff.
Uber lost a High Court ruling earlier this week which means Uber themselves will be responsbile for anything that goes wrong with the service, and not the individual driver. This also means that Uber are not likely to be liable for paying VAT which will result in Uber either increasing prices or dealing with a bigger loss than it does already.
AWS was hit by an outage yesterday which was the third such outage this year. Amazon explained it was due to a ramping up of online shopping.
TikTok is the latest social media giant to expand into shopping. The pandemic accelerated this transition for many other social media outlets, TikTok is looking to catch up and is investing heavily into its shopping arm.