*By Madison Alworth*
Coca-Cola announced Friday it will buy the UK coffee chain Costa for a piping $5.1 billion. The deal is Coke's largest acquisition to date.
According to Wall Street Journal reporter Jennifer Maloney, this was a diversification move, and Coke CEO James Quincey's way to make good on his word.
"He wanted to provide beverages to people at any time of day and any occasion," Maloney said Friday in an interview with Cheddar.
The deal marks Coke's first foray into the hot beverage industry. The timing couldn't be better. With the [soda market] (https://www.businessinsider.com/pepsi-ceo-inda-nooyi-predicted-soda-declines-2018-8) continuing to fall, Coca-Cola is looking to add more options to its portfolio. This move is also just the latest in a bubbling trend of soda brands trying to please calorie-conscious consumers. A little over a week ago, [Pepsi](https://cheddar.com/videos/pepsi-adds-sodastream-to-healthy-drinks-lineup) announced its purchase of seltzer machine maker SodaStream.
Costa has a large footprint abroad with 3,800 cafes in the U.K. and a growing presence in China.
That country has been a target of the coffee industry as consumption of the caffeinated beverage continues to soar. Although Chinese consumers traditionally prefer tea, Chinese millennials are adopting java in droves. According to the International Coffee Organization and the U.S. Department of Agriculture, over the past four years coffee imports to China have grown by 16 percent a year compared to 2 percent in the U.S.
According to Maloney, China is Costa's biggest market outside of the UK. Costa has approximately 450 locations in the country and Coke's CEO is focused on that as a new market.
"He sees China as a great opportunity to expand retail locations," Maloney said.
For full interview [click here](https://cheddar.com/videos/coca-cola-cozies-up-to-costa).
After premiering at the 2022 Sundance Festival, Showtime is slated to drop the four-part docuseries "We Need to Talk About Bill Cosby" this Sunday. Director W. Kamau Bell joined Cheddar to discuss the sensitive project and about coming to grips with the reality of who Bill Cosby is following the numerous allegations of sexual assault. Bell said the biggest takeaway from the project is that survivors are not only looking for the 84-year-old comedian to be held accountable, they also want to prevent future assaults. "Maybe the key thing to learn is how do we create a society that is more supportive and accepting particularly women in this case who are survivors of sexual assault," Bell said.
Tax season is now underway, and it's going to be a bit different than in years past. For starters, the deadline is April 18, instead of the typical April 15th, and many Americans will need to account for advance child tax credit payments, the return of the recovery rebate credit, and a special break for charitable contributions, among other things. Brent Weiss, Co-Founder and certified financial planner at Facet Wealth, tells us what we need to know about filing our taxes this year, and when we can expect to receive our returns.
College enrollment has been on a steady decline for years, and the pandemic hasn't helped. Since the start of the pandemic, there has been a 6.6% — more than 1 million students — drop in undergraduate enrollment, according to a recent report. Douglas Belkin, higher education reporter at the Wall Street Journal, joined Cheddar to discuss the long-term implications of students sitting out of college, and what institutions can do about it.
As the midterm election looms, things aren't looking too promising for President Joe Biden. One year into his term as president, Biden is facing one of the lowest approval ratings of any modern-day president, threatening his party's control of the House in 2022. Brian Bennett, Senior White House Correspondent for TIME, joined Cheddar's Opening Bell to discuss.
A full one year into his term as President of The United States, President Biden addressed the nation on Wednesday, facing questions on everything from inflation to chip shortages and covid-19. As Biden enters his second year in office, he is facing one of the lowest approval ratings of any modern-day president. Kate Davidson, Reporter, POLITICO joined Cheddar's Opening Bell to discuss.
San Diego has just implemented a new law that could set the stage for how the country deals with food waste. This new law hopes to make a dent in that. Businesses and groceries stores out in San Diego will need to put a plan in place to *donate edible food rather than toss it straight to the trash. Food Rescue Manager at Feeding San Diego, Kate Garret
The streaming giant Netflix posted its latest earnings from its fourth quarter after the close on Thursday. The company's stock plummeted shortly after the company warned that its rate of subscription additions are slowing down. Senior Reporter at MarketWatch Jon Swartz, joined Cheddar to discuss more.
Earlier this month, New York City experienced one of the deadliest fires it has seen in decades. 17 people lost their lives in the Fordham section of the Bronx. This was due to a faulty space heater which reportedly began on the lower floor of the 120 unit building. Thanks to the F. D. N. Y. And heroic neighbors, many were able to get out in time. Unfortunately, the toxic smoke surged upwards through a safety door. Now, many advocates say negligence by policymakers and landlords has led to the deaths in black and brown communities from fires that honestly could have been preventable. Legislative Director of Citizen Action of New York, Rebecca Garrard, and the Chair of Journalism and New Media Studies at St. Joseph's College Theodore Hamm, joined Cheddar to discuss more.
Revenue operations platform Clari recently raised $225 million in a Series F financing round led by Blackstone, bringing the company's valuation to more than $2.6 billion. Calri says more than 450 companies from around the world use its A.I.-powered platform to make their revenue operations more connected, efficient, and predictable. Clari CEO Andy Byrne joined Cheddar News' Closing Bell to discuss.
