News Paper Summary Essay Example | Topics and Well Written Essays - 500 words - 10

News Paper Summary - Essay Example The biggest producers of coffee are focusing on their best customers, a move that is driving up prices. Coffee consumption is rising in Brazil, Colombia and Vietnam, the countries that produce 60% of the worlds beans. Brazil’s consumption of coffee is expected to reach 1.03 million tons this year. Rising incomes have enabled consumers in producing nations to not only consume more coffee, but also demand higher quality. Consumers are also switching from cheaper substitutes such as tea. Brazils coffee production has increased by 61% over the last decade, but its exports have only risen by 34%, with the rest consumed locally. U.S. importers are paying higher prices because they compete with Brazilian buyers. In the ongoing official unraveling of Espà ­rito Santo Saga, multiple threads have led to Eurofin, a small Swiss company. Eurofin Holdings SA was the only auditor of Espà ­rito Santo’s books, which were  discovered to be riddled with irregularities. The firm is also indirectly connected to Banco Espà ­rito Santo through its chief financial officer, Joà £o Moreira Rato. Mr. Ratos partner, Joà £o Poppe, is the nephew of Ricardo Espà ­rito Santo Salgado. Eurofin also helped Banco Espà ­rito in creating debt products that were sold to retail investors recently. Portuguese authorities suspect that the profits were used to finance other troubled Espà ­rito Santo entities. The authorities are seeking to establish Eurofins multifaceted relationship with Espà ­rito Santo. Goldman Sachs Group  is reconsidering its business with hedge funds; it is discarding less-profitable customers and increasing fees on others in an attempt to adapt to new banking rules. The regulations have forced the bank to allocate more capital, reducing profits from its business. The changes highlight the way Wall Street is trying to conform to the changing landscape. The bank also is pulling its cash from its internal hedge fund. Banks