Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business.

It's Friday, February 21st, 2025. This is Nelson John, let's get started.

Your daily cup of coffee is set to become more expensive. Global coffee prices have surged due to supply shortages in major producing countries like Brazil and Vietnam. Brazil faces its worst drought in over four decades, severely impacting coffee yields. Similarly, Vietnam has been hit by typhoons and erratic rainfall, disrupting harvests and lowering bean quality. These challenges have pushed Robusta futures to a record high of $5,849 per tonne, with Arabica prices rising about 70% in 2024. In India, coffee consumption is steadily rising, making price hikes more impactful than ever, reports Suneera Tandon. Specialty coffee chains like Blue Tokai have already increased prices and may implement further hikes. Packaged coffee brands are also feeling the squeeze, with the Indian Coffee Roasters’ Association announcing a ₹200 per kilo hike in powdered Arabica and Robusta. Major brands like Nestlé, which sells Nescafé, acknowledge the impact of skyrocketing coffee costs, with coffee prices up 75% year-on-year. While some chains strive to avoid passing the burden onto consumers, the sustained rise in global coffee prices makes it challenging to absorb the increased costs. As a result, your morning brew is likely to see a price increase in the near future.

Microsoft has unveiled Majorana 1, (MayoRANA) a breakthrough quantum chip that could bring industrial-scale quantum computing within years, not decades. Built with an innovative material called a topoconductor, this chip is designed to scale up to a million qubits on a single processor—potentially transforming computing as we know it. Unlike classical computers, which process information in binary (0s and 1s), quantum computers leverage qubits, which can exist in multiple states at once. This enables them to perform complex calculations exponentially faster, with potential applications in AI, financial modeling, drug discovery, and climate research. Microsoft’s approach relies on Majorana particles, a unique type of theoretical particle that could make quantum computing more stable and scalable. While tech giants like Google and IBM have also made strides in quantum computing, Microsoft’s announcement signals that commercial quantum applications could be closer than anticipated. With this breakthrough, the race to harness quantum power is accelerating, bringing us one step closer to solving problems beyond the reach of today’s computers.

When switching jobs, you probably focus on transferring or withdrawing your provident fund (PF), assuming all your savings are covered. But what if part of your money was stuck—unclaimed and inaccessible? That’s what happened to Mr. A. While he successfully withdrew his PF, his Employees’ Pension Scheme (EPS) contributions remained unmerged. Without linking past EPS accounts, his withdrawal request was denied. Unlike PF, EPS doesn’t transfer automatically—it requires an extra step that many employees overlook. Here’s the rule: Employers contribute 8.33% of your salary to EPS. If you’ve worked with both private PF trusts (exempt) and EPFO-managed (non-exempt) employers, your pension funds could be scattered. To withdraw or claim benefits, EPS must be transferred and merged. If you’ve worked for less than 10 years, you can withdraw your EPS—but only if it’s properly linked. Cross the 10-year mark, and withdrawal isn’t an option. Instead, you’ll need a pension scheme certificate to claim benefits at retirement. To avoid complications, always transfer EPS when changing jobs. Staying proactive ensures you don’t lose your hard-earned pension savings! Read Aparajita Sharma’s detailed report on this in today’s Mint Money.

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