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Experts say the global shortage of the main ingredient of chocolate is linked to poor conditions for farmers supplying large companiesEvery Easter, UK consumers collectively spend more than £1bn on food, drink, gifts, entertainment and about 80m chocolate eggs, racking up an average bill exceeding £50 each. But shoppers this year are paying more than usual: since last Easter, chocolate prices have increased by...

Regulator acts after identifying concerns of possible greenwashing during review of fashion sectorShares in the British packaging group DS Smith rose after it announced that it is in discussions with a New York-listed paper producer over a £5.7bn takeover offer.London-based DS Smith confirmed that it is in talks with International Paper, the largest paper and pulp company in the world, over an all-stock offer...

Authorities to launch inquiry into allegations of mismanagement at country’s national oil corporationLibyan authorities have said they will investigate allegations of wholesale mismanagement in the country’s National Oil Corporation, with officials telling the Guardian rampant smuggling is helping to fuel the civil war in Sudan.Mohamed al-Menfi, the chair of the presidential council, will launch an inquiry this week, t he scope of which is...

Johannesburg-based Amplats says one in five jobs will be lost in South Africa amid plunge in profitsThe platinum arm of Anglo American is to cut 3,700 jobs in South Africa as the British mining company attempts to improve performance in the troubled division.Anglo American Platinum (Amplats) said on Monday it aimed to cut jobs after a sharp drop in platinum metal prices, which had...

Plan to raise shareholder payouts by 4% follows surprise $7.3bn profit in final quarter despite fall in gas pricesShell will raise its shareholder dividends by 4% this year despite a 30% fall in its full-year profits to $28.3bn (£22.37bn) for 2023 as global oil and gas market prices began to ease.The oil company handed its shareholders $23bn in payouts last year, and plans to...

Brent crude is up 1.7% to $78.32 a barrel as hopes of strong demand in China also push up pricesBusiness live – latest updatesOil prices have risen sharply after Iran rejected calls to end support for attacks by Houthi rebels on vessels in the Red Sea and sent a warship to the vital trading route.In the first trading session of the new year, Brent...