Your commercial news round-up: chocolate prices, FIFA, Amazon AI jobs, TikTok ban extension

Reading time: four minutes

The price of chocolate has significantly increased in the UK amid rising food prices and FIFA faces more criticism over the 2026 World Cup’s carbon footprint. Meanwhile, Amazon’s CEO has warned staff that AI could replace jobs in the next few years and President Donald Trump has extended TikTok’s ban or sale deadline. Read on for the full scoop of this week’s top commercial news stories!

• Chocolate prices in the UK have surged by 17.7% in the year to May, according to latest figures from the Office for National Statistics. This is the sharpest increase since records began in 2016 and is part of continued rising food prices. May was the third consecutive month to see annual food inflation increase, jumping to 4.4% in. Deputy chief economist at Capital Economics, Ruth Gregory, said that the increase may be a “tentative sign that firms are passing on more of April's rise in National Insurance Contributions in their selling prices". The rise in chocolate prices has been attributed to poor cocoa harvests in regions such as Ghana and Ivory Coast – countries that “produce well over half of all the cocoa in the world” – due to bad weather, long-term government mismanagement of the cocoa sector and disease. The head of agriculture at commodities broker Marex, Jonathan Parkman, said: “There is little chance of a fall in chocolate prices this side of Christmas.” The overall inflation rate held steady at 3.4% in May, the highest in more than a year, and remains above the Bank of England’s 2% target.
   
• FIFA is once again facing criticism over the environmental impact of the men’s 2026 World Cup next summer, which is set to become the most carbon-intensive tournament in history. The highly anticipated event, expanding from 32 to 48 teams, will span 16 cities across the US, Canada and Mexico and trigger extensive air travel. United 2026, a collaborative bid by the host nations, has predicted that the competition will generate the biggest carbon footprint ever recorded for the tournament, with an estimate of 3.7 million tonnes of carbon dioxide – 85% of which is predicted to come from travel alone. This has placed doubt on the governing body’s previous climate pledges, including its 2021 initiative to reduce carbon emissions by 50% by 2030 and achieve net-zero status by 2040. Critics argue that FIFA’s heavy reliance on carbon offsetting lacks transparency and effectiveness, especially after a Swiss regulator found its carbon neutrality claims for the men’s 2022 Qatar World Cup misleading.
   
• Amazon CEO Andrew Jassy has reportedly told staff in certain areas of the business that AI could replace jobs within the next few years. In a memo, Jassy said that AI agents (ie, systems capable of completing tasks independently) and generative AI tools will automate tasks and reduce “total corporate workforce” in some areas. While there’s uncertainty about the overall impact of AI, Jassy said: “We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs.” He added: “There will also be agents that routinely do things for you outside of work, from shopping to travel to daily chores and tasks. Many of these agents have yet to be built, but make no mistake, they’re coming, and coming fast.” The notice aligns with broader industry concerns. UK telecommunications company BT’s CEO recently predicted deeper AI-driven job cuts and AI company Anthropic’s CEO suggested AI could eliminate half of all entry-level office jobs.
   
• US President Donald Trump is expected to extend the deadline for TikTok’s sale or ban by 90 days, allowing the app to continue operating in the country. The extension marks the third such delay since Trump took office this year and after the app was set to be banned in the US. White House Press Secretary Karoline Leavitt said the extension aims to ensure a deal is finalised and “that the American people can continue to use TikTok with the assurance that their data is safe and secure". Despite the extension being at odds with the will of Congress and a law signed by former President Joe Biden mandating TikTok’s sale or ban, Trump has expressed support for the platform, citing its role in his 2024 presidential election win. Plus, some analysts are doubting that a ban will even occur during Trump’s term. Kelsey Chickering, Forrester principal analyst, said that TikTok appears “confident in their future” as the video app continues to expand with new AI video tools. In addition, multiple investor groups have shown interest in acquiring the app, including billionaire Frank McCourt, Canadian entrepreneur Kevin O'Leary and Reddit co-founder Alexis Ohanian (who made up one group) and YouTube star MrBeast as part of a separate group.

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