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Starbucks to close 150 U.S. cafes to combat slowing growth

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Outgoing chairman Howard Schultz said the training cost Starbucks " tens of millions " of dollars. Johnson said Starbucks has not reached saturation point in the USA, but it will be more strategic about where it puts new stores, focusing on underpenetrated markets in "Middle America". Read More »

Disney Ups Its Bid For Fox To $71.3 Billion

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The US government is now suing to block a merger between Time Warner, and the telecoms giant AT&T. Fox said it would now allow shareholders to evaluate Disney's amended offer. But the two sides aren't vying for all of Fox. The move comes after Comcast launched a rival offer for most of Fox's film and television holdings. Read More »

Trump assails Canadian tariffs, accuses people of smuggling United States goods home

While the US$ 50 billion in tariffs already announced on Friday were mainly on industrial goods, the broader move would push up prices for toys, tools, t-shirts and a lot more for usa shoppers. In a forcefully worded statement , it said Beijing is ready to "defend the interests of the Chinese people and enterprises". The ministry also expressed its disappointment that the new tariffs do not reflect the " consensus " the two countries had come to during recent trade negotiations, ... Read More »

Telstra To Cut 8,000 Jobs

Chief executive Andy Penn defended the job cuts and other announcements, arguing that competition from the likes of Optus and Vodafone demanded a "bolder stance". The warning sent its shares tumbling to a more-than six-year low of A$2.71. "The rate and pace of change in our industry is increasingly driven by technological innovation and competition", Mr Penn said. Read More »

Telstra to slash 8000 jobs in major overhaul

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Telco giant Telstra has announced it will be slash nearly a quarter of its workforce as part of a new strategy to "improve customer experience, simplify structure and cut costs". Telstra also intends to "monetise assets of up to A$2 billion over the next two years to strengthen the balance sheet", and has set aside A$600 million in restructuring costs. Read More »

Costly meal: 'Rats' shred notes worth Rs.12L in Assam ATM

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However, as noted in a local newspaper, the ATM malfunctioned on May 20th and was out of service until June 11th. When they cracked open the machine, they found piles of shredded cash, mostly Rs 500 and Rs 2,000 notes. Many, however, still express doubts over what really happened inside the kiosk. Wad of notes, amounting to nearly Rs 12 lakh, were found shredded to tiny bits inside the ATM machine on June 11. Read More »

Microsoft Facing Threats of Boycott for Collaboration with ICE

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It also said that the use of its government compliant cloud computing software would enable ICE to "process data on edge devices or utilize deep learning capabilities to accelerate facial recognition and identification". US tech employees are often outspoken on political and human rights issues, including President Donald Trump's ban on travelers from several mostly Muslim countries and LGBT rights. Read More »

Merkel, Macron agree on major European Union reforms

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Addressing reporters in Berlin after her meeting, Merkel called the dispute "a very hard situation" but insisted that "the CDU and the CSU have the common goal of improving regulation of migration in our country". Italy and France have also become involved in the migrant debate , with Italy's interior minister Matteo Salvini, who is the deputy Prime Minister of the country, refusing to accept new refugee boats and calling for asylum seekers to be equally distributed across the European ... Read More »

Commerce chief Edward Yau raises alarm amid looming trade war

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He did not say when the target list of Chinese goods would be unveiled. In Beijing , China's Commerce Ministry responded swiftly to Trump's latest threat, warning that if the United States imposed fresh tariffs , China would have to adopt " comprehensive measures combining quantity and quality to make a strong countermeasure". Read More »

Sign asks Dunkin Donuts customers to report employees speaking foreign languages

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A sign asking customers at a Dunkin' Donuts store in Baltimore to report employees who were heard not speaking English has set off a controversy. He also said he had put up a similar sign in the past, and that customers had complained. Many tagged Dunkin' Donuts and called on the company to fire the current general manager of the store. 'Please do something about this and this store's general manager. Read More »

Disney Expected to Add Cash for Fox Assets, Counter Comcast Bid

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The agreement has been accepted by Matt Hancock , the current Culture Secretary, potentially paving the way for a takeover of Sky by 21st Century Fox - which eventually intends to sell the broadcaster on to Disney . Sky, including Sky News, is one of a number of entertainment assets that Fox agreed to sell to Disney for $52bn just before Christmas previous year. Read More »

Chanda Kochhar 'to go on leave', Bakhshi new COO: ICICI Bank

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After a marathon board meeting, the bank has appointed Sandeep Bakhshi , who is heading ICICI's life insurance business as the COO and whole-time director of the bank. In March, a whistle-blower alleged that Ms Kochhar's husband Deepak Kochhar and her family members benefited from these dealings. The report terms the present structure as a "safe middle-ground" but did not attempt to second guess the board on its succession plans. Read More »

Renewed U.S.-China trade spat boosts safety demand for yen

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Washington and Beijing appeared increasingly headed toward open trade conflict after negotiations failed to resolve USA complaints over Chinese industrial policies, lack of market access in China and a $375 billion U.S. In announcing the possibility of new $200 billion in tariffs, Trump mentioned that he still has an "excellent relationship" with Chinese president Xi Jinping. Read More »

Virgin Money bought by CYBG for £1.7bn

It will be the UK's sixth largest bank, with six million customers. "The combination of CYBG and Virgin Money will create the first true national competitor to the status quo in United Kingdom banking, offering a genuine alternative for consumers and small businesses", he said in a statement. Read More »

Google invests $550m in JD.com

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This move is expected to help JD.com to expand beyond its base in China and Southeast Asia in order to establish a meaningful presence in US and European markets. The two companies, however, will jointly develop retail solutions in Southeast Asia, the latest battlefield among global online commerce giants such as Alibaba, JD.com and Amazon . Read More »

Audi CEO Rupert Stadler arrested in diesel emissions scandal

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German automaker and Audi's parent company Volkswagen confirmed the detention. The Munich prosecutors said Stadler's arrest was not made at the behest of US authorities. It said it had installed software in 11 million diesel cars worldwide that could tell when they were being tested and cut their emissions. Volkswagen has pleaded guilty to the criminal charges pressed against the company where two managers are serving prison time in US. Read More »

Audi CEO Rupert Stadler arrested in diesel emission case

As part of the investigation, Stadler's home has been raided, while authorities are now investigating 19 other suspects, the identities of whom have not been disclosed. The probe of Stadler focuses on cars sold in Europe that were believed to be equipped with software which turned emissions controls off during regular driving. Read More »

Tesco reports tenth consecutive quarter of sales growth

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Lewis said: "Getting Tesco lines into Booker was always going to be later than getting Booker into Tesco". It highlighted that looking ahead, its like-for-like sales performance for the United Kingdom will be adjusted to remove the impact of the closure of Tesco Direct from July onwards. Read More »

McDonald’s to switch to paper straws in UK, Ireland

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Plastic can take hundreds of years to decompose if not recycled. And the food service company Bon Appétit Management, whose 1,000-plus locations in 33 states range from the Art Institute of Chicago to the University of Portland, will stop using plastic straws and stirrers by September 2019. Read More »

Canada Goose (GOOS) Downgraded to "Hold" at Zacks Investment Research

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Two Sigma Investments LP acquired a new stake in Canada Goose during the fourth quarter worth about $2,200,000. Canada Goose now has a consensus rating of Buy and a consensus price target of $40.43. The company said it earned $0.09 per share for the fourth quarter where analysts polled by Bloomberg had expected a loss of the same amount. Canada Goose opened at $45.17 on Thursday, according to Marketbeat.com . Read More »

McDonald's to replace plastic straws with paper ones in United Kingdom and Ireland

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The company says paper straws, which are more environmentally friendly, will replace plastic ones starting in September. Prime Minister Theresa May announced the ban in April , saying that it could be implemented as soon as next year. In May, McDonald's shareholders overwhelmingly rejected a proposal asking the company for a report about the business risks associated with plastic straws. Read More »

Didi To Start Operating In Australia This Month

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Didi's push into Australia comes less than two months after it launched in Mexico , another core market for Uber. It has announced yesterday that it will start operating in Australia from June 25. "DiDi also looks forward to building public-private partnerships to improve traffic governance with our smart transportation capabilities and experience, with the aim of contributing to urban sustainability around the world". Read More »

ECB's Bond Buying Could Return If Economic Downturn Occurs, Official Says

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European Central Bank chiefs may have felt the need for a fallback option when casting an eye over the long list of threats to the eurozone expansion. But it could also increase returns for savers and make it easier for pension savings to grow. The euro was a shade higher at 128.035 yen after dropping 1.7 percent overnight. Read More »

BHP Ticks Off South Flank Iron Ore Expansion

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BHP Minerals Australia president Mike Henry said South Flank would prove capital efficient and offer attractive returns. The dual-listed mining giant said the project, which would also generate about 2500 construction jobs in Western Australia, would fully replace production from its Yandi mine. Read More »

Trump announces tariffs targeting Chinese goods

Indeed, the numbers appear identical. The U.S. will implement a tariff on $50 billion in goods from China, the White House announced Friday, setting up a back-and-forth with the country that quickly retaliated with a tariff on products from the U.S. Read More »

Manchester retailer could close all stores to go online only

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Around 75% of the company's revenue is now generated online, while its stores only generated 2% of group revenue and posted a combined loss of £3m. 'We anticipate that the consultation process will be completed around the time of our half year results in October, ' continues N Brown. Read More »

Australia jobless rate ticked lower in May, full-time jobs slump

Washington's economy added 8,500 jobs in May and the state's seasonally adjusted monthly unemployment rate for May was 4.7 percent according to the Employment Security Department. This month's report shows the greatest private job growth occurred in retail trade up 3,000, construction up 1,400, and education & health services and professional & business services both up 1,100. Read More »

Iran, Venezuela supply gap to dominate OPEC meet: IEA

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Rising oil prices have created question marks over the strength of demand, but the IEA left its oil demand growth forecast for 2019 largely unchanged, at 1.4 million barrels a day (mb/d), similar to this year's level. She highlighted that the vast majority of OPEC producers have nearly no ability to offset a price decline with additional volumes, also noting that Saudi Arabia's own economic future - envisaged as part of its "Vision 2030" plan to transform its economy away from oil - ... Read More »

Trump to approve tariffs on US$50 billion in Chinese goods

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Trump said the 25 percent tariff is supported by a report from the Office of the U.S. Trade Representative that found China's trade practices related to technology and intellectual property are discriminatory and burden the U.S. Some products were taken off the preliminary list but none were added, said one of the people familiar with the decision, who spoke on condition of anonymity to describe the action before its announcement. Read More »

Facebook may start tracking the movement of your eyes

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The remark, was of course, a reference to the scandal and others that have rocked Facebook as users have become aware that the behemoth social network hasn't always done a very good job at protecting its users data . In fact, the above along with so much more can be the basis of more questions being directed at Facebook. Facebook has said it may develop eye-tracking tools that will add a new layer to the way it monitors its 2.2 billion monthly users. Read More »