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Wars and heatwaves seen lifting bread and pasta costs as food prices forecast to rise 11.8% in 2026
Oxford Economics forecasts global food prices will rise 11.8% in 2026, with grains, fruit and vegetables, and dairy expected to be hit hardest. After Europe’s heatwave, cereals trade group Coceral cut its combined EU27 and UK grain harvest forecast to 286.6 million tonnes. Germany’s Farmers’ Association has warned the country’s grain output is expected to fall 7% to 41.9 million tonnes after drought and heatwaves.
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Twenty One Capital posts $413.5 million Q2 net loss as Bitcoin holdings revaluation drives more than 97%
Twenty One Capital reported a $413.5 million second-quarter net loss, with more than 97% driven by changes in the value of its Bitcoin holdings. The company recorded a $401.5 million loss from changes in the value of its digital assets and held 43,514 Bitcoin valued at about $2.78 billion. It ranks as the second-largest publicly traded Bitcoin treasury company, while Japan-based Metaplanet holds 43,000 BTC and is closing in. Twenty One ended the quarter with $106.1 million in cash and about $484.5 million in convertible notes outstanding.
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MCX gold and silver futures slip on August 19 as oil’s rise lifts Fed rate-hike bets
MCX gold and silver futures edged lower in early trade on August 19 as higher oil prices, amid stalled U.S.-Iran talks, reinforced expectations of a Federal Reserve rate hike. October gold futures fell 0.03% and September silver futures dropped 0.93%. Brent crude extended gains for a fourth straight session to near $92 a barrel after U.S. President Donald Trump said no negotiations were underway with Iran and disputed Tehran’s claim that the Strait of Hormuz remained closed to shipping.
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HIVE books $84.7 million Swedish VAT provision, topping $79.1 million quarterly revenue as Bitcoin output reaches 1,004 BTC
HIVE Digital Technologies recorded an $84.7 million noncash tax provision in Sweden after unfavorable court rulings prompted a change in its accounting assessment tied to disputed VAT exposure. The provision exceeded the company’s $79.1 million quarterly revenue and amounted to about 40.7% of its $208 million cash balance. HIVE received 1,004 BTC during the quarter, but the charge contributed to a $142.9 million GAAP net loss.
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