Turn-around expected for European economy

• Arabica-coffee prices fell 35 percent in 2012, making it one of the year’s worst performing commodities. The decline is expected to continue because of large supplies of coffee anticipated this year and in 2013, according to Barron’s Magazine.

• Unemployment in the Euro zone rose to a new high in October. The head of the Central Bank of Europe expects, however, a turnaround in the European economy in the second half of 2013, according to the New York Times.

• The largest Powerball in history was split between two winners in Arizona and Missouri, according to the N.J. Lottery.

• The United States Government has temporarily banned the company British Petroleum (BP) from acquiring any new government contracts because of the company’s lack of business integrity, according to the New York Times.

• Declines in U.S. and European economies are expected to lead to additional falls in cocoa prices. The U.S. and Europe are the world’s largest consumers of chocolate, according to Barron’s Magazine.

• More viewers watched the Macy’s Thanksgiving parade on NBC this year than any year since 2001. An average of 22.4 million people watched NBC during the time of the parade, according to the New York Times.

• A global survey of 13 countries found that the average income needed to be “happy” was $160,000 a year, according to CNBC News.

• An additional 10 New Jersey businesses were accused of illegal price gouging during the state of emergency caused by Hurricane Sandy. Seven of the businesses were hotels, according to the Office of the Governor.