Business Diary: June 12

Davos in Switzerland is frequently called on to host earnest gatherings of the great and good. But Diary would love to have been invited to the Chocovision Conference which was held in Davos.

It sounds like the perfect antidote to the eurozone’s gloom.

Diary was intrigued to discover that the global chocolate market is defying the global slump, and is predicted to grow by an average of two per cent a year for the next five years.

However, it’s not all plain sailing for manufacturers, who are facing volatility in the cocoa markets, according to a new report entitled, The Chocolate of Tomorrow, which was unveiled at the Chocovision Confer-ence.

The report from KPMG, argues that a combination of shifting consumer demand and regulatory pressure will reshape the industry and the chocolate bar.

According to the report, by 2030 chocolate bars will be sweeter and smaller, as volatility in cocoa prices forces manufacturers to use less cocoa content in their products.

Premier division

SHE was once dubbed the Pocket Dynamo for her bottomless enthusiasm and energy – which includes a 45-minute yoga session before work.

Now the puns and nicknames look set to follow outgoing Premier Farnell chief executive Harriet Green.

Ms Green is leaving the Leeds-based electronics distributor to enter the dysfunctional world of tour operators, becoming CEO of Thomas Cook.

In a note to clients entitled: “Finally reached the Green, lining up the putt,” Investec analyst James Hollins reckons she’s a “Premier appointment” and a good reason to buy shares in Thomas Cook.

Olympic effort

As the Olympic torch makes its way to Yorkshire, Diary was fascinated to hear that a Yorkshire-based media and PR consultant is doing his bit for the less energetic sports fans.

Phil Ascough, whose day-to-day work usually involves finding success stories from such spheres as corporate finance, commercial property and IT services, made time for a ‘holiday project’ to produce a book on the Olympic Games.

He secured backing from publishing house Bloomsbury and the result, The Armchair Olympian, is now available in book shops and online.

The volume is a blend of narrative, trivia, quiz questions and quotes covering the highlights of the Games since the start of the modern Olympics in 1896.

A place to love

YOU would be surprised at the type of information Diary is sent.

Take this press release from RTS Media on behalf of SAF Housing.

It says: “The head of a major funding organisation is urging the Government to restore tax breaks for pension funds investing in Real Estate Investment Trusts (REITs).

“Phil Shanks, founder of social housing fund provider SAF Housing who loves in Huddersfield, wants ministers to encourage investment in REITs as part of a broader economic recovery strategy.

“He believes greater investment by pension funds could play a key role in easing the credit shortage and stimulating growth.”  

An important message certainly. But do we really need to know where he loves?

Why Green is blue

SOME companies have a swear jar to punish workers who turn the air blue around them.

WYG has its own version, but it doesn’t involve exple- tives.

The Leeds-based company has been through a difficult and traumatic transformation from the days when it was White Young Green.

WYG completed a “survival restructure” in 2009 which saw shareholders substantially diluted and its banks take a 60.5 per cent equity stake.

Under previous management, the old White Young Green bought 38 companies between 1997 and 2007, leaving it with a hefty debt burden.

But these are days that the company wants to put firmly behind it.

Therefore anyone who makes the mistake of calling the company White Young Green is forced to put money in the swear jar.

Diary accidentally made the mistake of doing just that but, fortunately, WYG let us off.