Chocolate prices soar, French luxury retailer to go private, Boeing raises debt

Chocolate prices soar

Your favorite treat is about to get even more expensive. A supply crisis has resulted in the cost of cocoa surging 400% in a year, which is already driving some chocolate makers to the brink.

The crisis is only getting worse as climate change and crop disease results in poor yields across Ivory Coast and Ghana, where more than 60% of the world’s cocoa beans are grown. The shortage is putting pressure on growers, processes and chocolate makers across the globe.

This has already resulted in increased prices for consumers. Prices were up nearly 12 percent last year in the U.S. That has many watching Hershey (HSY.N) and Mondelez International (MDLZ.O), owner of Oreo, Cadbury and Toblerone, closely as we approach earnings season for the candy makers.

Skin care company to go private

The owner of French luxury retailer L’Occitane International SA is working to take the company private after 14 years of being listed on the Hong Kong stock exchange. Austrian billionaire Reinold Geiger, who controls more than 70% of the company, has offered HK$34 a share, a 61 percent premium, in a deal worth approximately $6.4 billion.

Boeing raises debt as credit rating plunges

Boeing went out to the debt markets Monday to help bail out the struggling jetmaker after burning nearly $4 billion in cash during the first quarter this year. The company looks to raise $10 billion to increase liquidity as its existing debt load matures. The credit agencies assigned near junk ratings to Boeing’s notes as the company seeks to recover from what can only be called a crisis set off by the door blowing off a 737 MAX 9 in January.