Starbucks’ Bets On China
Starbucks has become a staple for coffee aficionados in the U.S., especially in its Seattle hometown, where its original downtown location rarely sees a break in lines wrapping out the door. But China, where the coffee giant opens 500 stores a year, is where Starbucks is gearing up for its busiest shop yet at the entrance of Shanghai Disneyland, the Seattle Times recently reported. The company’s rapid overseas expansion in places such as China, and most recently South Africa, could ease investors’ concerns about the slowdown in sales growth Starbucks has been seeing lately.
GDP, U.K., The Fed
Meetings and reports coming this week in the U.S., U.K. and Japan should afford policymakers in those countries some clarity on the health of the global economy. The reports come as they face massive economic decisions this year, the Wall Street Journal reported. New GDP reports this week will aide the Federal Reserve, which is meeting Tuesday and Wednesday, in deciding its next interest rate increase and the United Kingdom’s looming decision in two months about whether to exit the European Union. Japan will release similar reports the same day as its central bank will issue its latest monetary policy. The policy has been under international scrutiny for the yen’s soaring appreciation, the WSJ said.
Koch Speaks Well of Clinton
Charles Koch, the ultra-conservative oil tycoon and billionaire GOP financial backer, indicated Democratic front runner Hillary Clinton might be a better fit president than any of the current Republican candidates. Koch spoke out during an interview with ABC on Sunday, according to CNN. Koch’s shocking statement made waves on both sides of the political aisle, prompting Clinton to say on Twitter she refuses to accept his support. Koch’s comments provide another peculiar twist in an already unusual and divisive presidential race, especially this late into primary season.
Another Automaker Scandal Widens
As Volkswagen remains in the throes of its months-long emissions-cheating scandal, Mitsubishi is yet another automaker now finding itself in the hot-seat. The controversy widened Friday when U.S. regulators disclosed they were probing for information as news reports revealed the company had submitted misleading data on at least of its models, the Washington Post reported. Mitsubishi recently revealed it overstated fuel-efficiency of 625,000 cars, and Japanese regulators raided one of the company’s research and development outfits.