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Coffee Prices Post Largest Annual Jump Since 1997

3 months 1 week ago
US retail coffee prices surged 21% year-over-year in August, the largest annual increase since October 1997, according to Thursday's Consumer Price Index. The monthly 4% jump marks the steepest rise in 14 years. Trump administration tariffs on major coffee exporters -- 50% on Brazil, 20% on Vietnam, and 10% on Colombia -- are driving costs higher as 99% of US coffee consumption relies on imports. J.M. Smucker plans its third price increase this winter for Folgers and Cafe Bustelo brands after raising prices in May and August. New Orleans chain French Truck Coffee has implemented a 4% tariff surcharge. Starbucks expects peak cost impacts in 2026 due to its advance purchasing practices. KPMG chief economist Diane Swonk predicts prices will exceed historical records as Brazilian tariff effects reach retail shelves.

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Everyone Is Making Smart Glasses Now

3 months 1 week ago
Smart glasses development has expanded beyond Meta, Google and Apple to include dozens of manufacturers across three distinct categories, UploadVR reports. HTC launched its Vive Eagle glasses in Taiwan this month at $550, while Solos' AirGo V2 arrives in Q4 2025 for $300. The market segments into displayless models featuring cameras and AI assistants, heads-up display glasses providing contextual information overlays and true AR glasses capable of spatial object positioning. Chinese manufacturers dominate the sub-$100 segment. Snap plans consumer AR glasses for 2026. Amazon is reportedly developing two HUD models targeting delivery drivers and consumers for mid-2026 release.

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Opendoor Board Chair Says Company is 'Bloated,' Needs To Cut 85% of Workforce

3 months 1 week ago
Keith Rabois, co-founder and newly minted board chair of Opendoor, said remote work and a "bloated" workforce have been a drag on the online real estate platform's culture, as he vowed to slash headcount. CNBC: "There's 1,400 employees at Opendoor. I don't know what most of them do. We don't need more than 200 of them," Rabois told CNBC's "Squawk on the Street" on Friday.

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