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If you like a lot of chocolate on your biscuit … look away now

about 15 hours ago
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If you like a lot of chocolate on your biscuit you can no longer join our Club or pick up a Penguin, as the lunchbox favourites have reduced the amount of cocoa in their recipe so much they are now only “chocolate flavour”.The two snacks, both made by McVitie’s, changed their recipes earlier this year amid soaring cocoa prices – which have prompted manufacturers to try a number of different tactics to keep prices down.Club and Penguin can no longer be described as chocolate biscuits as they contain more palm oil and shea oil than cocoa, as first reported by the trade journal The Grocer.“We made some changes to McVitie’s Penguin and Club earlier this year, where we are using a chocolate flavour coating with cocoa mass, rather than a chocolate coating.Sensory testing with consumers shows the new coatings deliver the same great taste as the originals,” the McVitie’s owner, Pladis, said in a statement.

Club’s classic advertising slogan citing its chocolate content is no longer in use, replaced by: “If you like a lot of biscuit in your break, join our Club.”The company already had other snacks that can only be described as “chocolate flavour”, including flavours of Mini BN and BN Mini Rolls.“We’re committed to delivering great-tasting snacks while minimising the impact of rising costs on consumers, adjusting formulations only when necessary,” Pladis said.Cocoa prices have soared after poor harvests in the key growing regions of Ghana and Ivory Coast over the past three years, amid extreme temperatures and unusual rainfall patterns driven by the climate crisis.The added cost has prompted manufacturers to use a number of tactics, from making bars and biscuits smaller to reducing cocoa content in an effort to keep the prices paid by shoppers down.

Last year prices more than doubled and went on to hit a record of close to $11 (£8.20) a kilogram in January.However, in recent months they have eased back amid positive news about this year’s harvest and reports of lower demand as manufacturers and shoppers switch to alternatives or reduce consumption.KitKat White and McVitie’s white digestives can no longer be marketed as “white chocolate” products as they do not contain a minimum of 20% cocoa butter – although these recipes changed before this year.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionThe old favourite Wagon Wheel has long been described as “chocolate flavour” as its coating does not meet the level of cocoa to be described as chocolate.

A spokesperson for Nestlé, which makes KitKat, said: “We regularly review our recipes to balance quality, affordability, and sustainability.Like every manufacturer, we’ve seen significant increases in the cost of cocoa over the past years, making it much more expensive to manufacture our products.“As always, we continue to be more efficient and absorb increasing costs where possible.To continue to offer shoppers great value, it is sometimes necessary to adjust recipes of some of our products.Retail pricing is at the discretion of individual retailers.

“The ‘coating’ description on KitKat White is accurate and compliant to describe the ingredients used in the recipe.There are currently no planned changes to KitKat product descriptors given existing recipes.”
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Nearly £11bn wiped off UK banks after US regional banking fears spooked markets – as it happened

Nearly £11bn has been wiped off the value of the largest banks listed in London today.Banks were among the big fallers in today’s sell-off, with Barclays down 5.66%, NatWest losing 2.88%, HSBC down 2.5%, Standard Chartered losing 3

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Bank shares lead global market fall amid jitters over US private credit

European stock markets fell on Friday and gold hit a record high after two US regional banks said they had been exposed to millions of dollars of bad loans and alleged fraud.Signs of credit stress rattled markets across Europe and Asia. In London the FTSE 100 fell 0.9%, Germany’s Dax fell 1.8%, Italy’s FTSE Mib fell 1

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‘A foot out in the cold’: leaders huddle at IMF as icy economic winds blow

“The security blanket is covering us, but maybe we have a foot out in the cold.” That was the typically colourful warning from the International Monetary Fund’s managing director, Kristalina Georgieva, this week to its gathering of finance ministers in Washington.At its spring meetings in April, the IMF said the erratic trade policies emanating from the White House, half a mile away from its glass and steel HQ, amounted to a “major negative shock” for the global economy.Since then, experts’ worst fears have not materialised – global growth has held up; frantic negotiations, agile manufacturers and new trading links have prevented supply chains collapsing.But the US economy has been cushioned against the full effects of the trade shift by the AI mega-boom – and the IMF issued a clear warning this week that it may not last

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What could a Trump deal on critical minerals mean for Australia – and could Maga be a sticking point?

Australia’s rich deposits of minerals used for green energy technologies and military hardware are increasingly prized, especially because of rising anxiety about China’s stranglehold on the global supply chain.That anxiety escalated after Beijing imposed new restrictions on rare earths exports, prompting a furious rebuke from Donald Trump and a warning from his treasury secretary that western allies would need to “decouple” from China if it proved an unreliable supplier.The timing of the latest US-China trade conflict could be good for Anthony Albanese, who will arrive at next week’s White House meeting armed with a valuable bargaining chip to negotiate with the deal-making president.The Australian government is expected to offer the US access to a proposed critical minerals stockpile, amid wider attempts to shield the country from the worst of Trump’s trade strikes and secure the Aukus submarine deal.But one expert thinks the critical minerals fight puts Australia in a “really compromised position”, caught between the competing priorities of its strongest strategic ally and its biggest trading partner

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UK government borrowing costs fall to lowest level since July

The UK government’s borrowing costs have fallen to the lowest level since July as Rachel Reeves considers tax rises and spending cuts before next month’s autumn budget.In a boost for the chancellor, the yield – in effect the interest rate – on 10-year UK government bonds has fallen by about 0.15 percentage points this week, after briefly dipping below 4.5% early on Friday for the first time in three months.Government bond yields have tumbled across advanced economies, as investors scrambled to buy safe-haven assets amid fears over US-China trade tensions and signs of stress in the US banking system

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Gaucho chain to slash waiters’ share of service charge and boost head office pay

The Argentinian steak restaurant Gaucho is slashing the share of the service charge its waiters receive, using some of the funds to bump up the pay package of head office workers.A letter to workers seen by the Guardian says that from 1 October existing waiters would receive between 25.45% and 29.4% of the service charge collected at tables they have served, depending on length of service, down from 37% previously – already a reduction from 45% early last year. Bar staff will get 17% of the service charge, down from 20%

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Parents will be able to block Meta bots from talking to their children under new safeguards

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AI chatbots are hurting children, Australian education minister warns as anti-bullying plan announced

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UK MPs warn of repeat of 2024 riots unless online misinformation is tackled

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Olivia Williams says actors need ‘nudity rider’-type controls for AI body scans

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