Good morning and welcome to Markets Desk.
Arabica coffee futures hit a nineteen-month low Thursday, with the July contract falling more than two percent as traders price in expectations of a record Brazilian harvest. Robusta also slid to a seven-week low. When supply signals this large come out of Brazil, the world's dominant producer, the market reprices fast and without mercy.
Shifting to cybersecurity and corporate liability, a former IBM vice president of threat intelligence has filed a whistleblower lawsuit alleging that IBM and AT&T concealed repeated foreign hacks from the United States government. The complaint claims both companies failed to disclose intrusions that federal law required them to report, raising serious questions about compliance obligations across the enterprise tech and telecom sectors.
And in a story that will move AI markets to watch, Airbnb CEO Brian Chesky is reportedly stepping into the artificial intelligence race, planning to launch a new AI lab focused on user interaction and design. Chesky would be keeping his Airbnb role while building the venture, and the move signals just how aggressively top-tier operators are repositioning around AI infrastructure before the next wave of capital consolidation takes hold.
That's the tape. Markets Desk, signing off the floor.
