Afternoon Coffee: Starbucks Sells Sustainability Bonds, U.S. Industrial Output Rises in April

Hoda Bogdan/Adobe Stock

Starbucks plans to raise $500 million for future sustainable coffee supply chain management projects. The company announced this week it would sell 10-year bonds, called U.S. Corporate Sustainability Bonds, to fund the projects, which includes ethical sourcing with certified coffee suppliers.

U.S. industrial output increased more than expected in April, rising 0.7%, thanks to a jump in utilities output. Manufacturing output also rose 0.3% last month, with auto production growing, according to data from the Federal Reserve.  

U.S. consumer prices saw their biggest increase in more than three years in April as well. The Labor Department reported the Consumer Price Index grew 0.4% last month, largely due to an increase in gasoline and rental prices.

Oil prices rose this week to near $50 a barrel, their highest price in seven months. Yesterday, prices hit $48.41 per barrel due to supply disruptions in Canada and other places around the globe.

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