US coffee chain Starbucks has announced it is forming a joint venture with asset management firm Boyu Capital in China, where the latter will hold a 60 percent stake in the company’s local business. China is Starbucks’ second-largest market globally and it has recently been struggling with increased competition from local rivals like Luckin Coffee. Also in this edition, we look at OpenAI’s blockbuster $38 billion deal with Amazon’s cloud services unit.
Trending
- ‘Bunker’ Venice Film Festival Red Carpet Photos
- Alex Gibney Elon Musk Documentary Unsettles Venice at World Premiere
- Gary Oldman Says the Next James Bond Has Been Selected
- Goldman expands AI push with new engineering office in Bellevue
- Middle East live: Israel to close British consulate in Jerusalem after sanctions on settlements
- Global trade accounted for 35% of the EU’s carbon footprint in 2023, study finds
- Instagram users face ransom demands over fake copyright claims
- Over de uitvinder van de Womanizer: hoe Michael Lenke het vrouwelijk genot veranderde
