Mojtaba Khamenei named Iran Supreme Leader as cocoa markets collapse

[00:00] Noah Feldman: This is Neural Newscast. [00:02] Evelyn Hartwell: Here is what matters this morning. [00:05] Noah Feldman: From Neural Newscast, I am Noah Feldman. [00:09] Evelyn Hartwell: And I am Evelyn Hartwell. [00:11] Noah Feldman: Iran has officially named Mujtaba Kamene as its new supreme leader. [00:17] Noah Feldman: This follows the death of his father, Ayatollah Ali Kamene. [00:22] Announcer: The 56-year-old is the second son of the late leader. [00:26] Announcer: He has historically maintained a very low public profile. [00:30] Noah Feldman: While he has never held a formal government office, U.S. diplomatic cables previously described him as a forceful power behind the robes. [00:40] Announcer: This appointment is controversial. The Islamic Republic was founded on religious merit rather than hereditary succession. [00:48] Noah Feldman: This transition comes at a time of extreme tension. [00:53] Noah Feldman: Israeli officials have already identified the new leader as a target for elimination. [00:59] Announcer: Meshtaaba now faces the challenge of maintaining the regime's survival. [01:03] Announcer: He inherits a country dealing with significant economic devastation. [01:07] Noah Feldman: Turning now to the United States. [01:10] Noah Feldman: The final celebration of life for Reverend Jesse Jackson concluded on Saturday in Chicago. [01:19] Evelyn Hartwell: The private funeral was held at the Rainbow Push United States H. Coalition headquarters. [01:26] Evelyn Hartwell: The civil rights leader passed away on February 17th. [01:31] Noah Feldman: High-profile attendees included former presidents Bill Clinton and Barack Obama. [01:38] Noah Feldman: There were musical tributes from Stevie Wonder and Jennifer Hudson. [01:43] Evelyn Hartwell: Jesse's son, Yusef Jackson, noted that his father spent his life kicking down doors so that others would no longer be locked out. [01:53] Noah Feldman: Following the service, a procession led to a private burial at Oak Woods Cemetery in the Greater Grand Crossing neighborhood. [02:03] Evelyn Hartwell: He was laid to rest alongside other influential Chicago figures. [02:08] Evelyn Hartwell: These include Ida B. Wells and former mayor Harold Washington. [02:13] Noah Feldman: Meanwhile, the global chocolate industry is facing a crisis. [02:18] Noah Feldman: Cocoa farmers in West Africa report months of non-payment. [02:22] Evelyn Hartwell: While cocoa costs spiked in 2024, prices have since crashed. [02:27] Evelyn Hartwell: They are now 40% lower than what international traders are currently paying. [02:33] Noah Feldman: The BBC reports that roughly 800,000 farmers in Ghana and Ivory Coast [02:39] Noah Feldman: are currently out of pocket due to this volatility. [02:42] Evelyn Hartwell: State regulators, like the Ghana Cocoa Board, set prices a year in advance. [02:48] Evelyn Hartwell: They are now struggling with a debt of $3 billion. [02:52] Noah Feldman: To address the shortfall, the Board's executive management and senior staff [02:57] Noah Feldman: recently took a pay cut of up to 20%. [03:01] Evelyn Hartwell: Ghana is now moving toward processing more of the raw beans locally [03:05] Evelyn Hartwell: to insulate its economy from global market shifts. [03:09] Noah Feldman: Turning now to what we are watching for the rest of the day. [03:13] Evelyn Hartwell: Ghana's government is expected to release further details on its strategy to revamp the cocoa sector and support rural livelihoods. [03:22] Noah Feldman: International observers will be monitoring Tehran for any formal speeches or public appearances from the newly appointed Supreme Leader. [03:30] Evelyn Hartwell: In Chicago, local leaders are scheduled to meet to discuss the future leadership of the Rainbow [03:36] Evelyn Hartwell: P United States H Coalition following the burial of its founder. [03:41] Noah Feldman: This has been Neural Newscast. Thanks for listening. [03:45] Noah Feldman: Neural Newscast is AI-assisted, human-reviewed. [03:49] Noah Feldman: View our AI transparency policy at neuralnewscast.com.