People seen around the Starbucks coffee store in Shenzhen, China.Jakub Porzycki | Nurphoto | Getty ImagesU.S. cafe chain Starbucks said it is not currently considering a full sale of its China operations, after Chinese financial magazine Caixin reported that it was, without disclosing where it obtained the information.Starbucks has held preliminary talks with more than a dozen potential buyers, Caixin also reported on Monday, citing sources who did not specify what was for sale.”I can confirm Starbucks is not currently considering a full sale of its China operations,” a company spokesperson said in a statement.Starbucks kicked off a formal sale process of its China operations in May, inviting interested buyers to submit answers to a list of questions by the end of last week, said three sources with knowledge of the situation.The Seattle-based company, advised…
Author: usaeverydaylife
A Rolls-Royce Spectre all electric luxury coupe is displayed at Rolls-Royce Motor Cars dealership showroom in London.John Keeble | Getty Images News | Getty ImagesRepublicans are trying to make good on President Donald Trump’s campaign promise to give Americans a tax break on their car loan interest. However, as structured, most households wouldn’t get a substantial financial benefit, economists said.House and Senate Republicans proposed giving drivers a tax deduction of up to $10,000 on annual interest for new auto loans in their so-called “One Big Beautiful Bill Act.” The tax break would be temporary, ending after 2028.But few drivers pay…
Artificial intelligence growth could provide a boost to shares of Snowflake , according to Morgan Stanley. The bank upgraded the cloud software maker to overweight from equal weight and increased its price target by $62 to $262 — which reflects more than 22% upside from Monday’s close. The rating change comes as the stock has already outperformed the broader market in 2025. Year to date, Snowflake has jumped more than 38%, while the S & P 500 has risen more than 2%. SNOW YTD mountain SNOW, year-to-date “After several years of sharply decelerating growth and mounting investor concerns on its…
Waymo partners with Uber to bring robotaxi service to Atlanta and Austin.Uber Technologies Inc.Uber and Alphabet’s Waymo are now offering robotaxi rides to the public in Atlanta, as the companies continue expansion of their partnership. The Waymo robotaxis available through the Uber app will cover approximately 65 square miles around Atlanta, but will not yet travel on highways or to the airport. The vehicles feature Waymo’s driverless technology, known as the Waymo Driver, integrated into battery electric Jaguar I-PACE SUVs.The companies said in September that they would be jointly bringing Waymo One to Austin, Texas, and to Atlanta. Rides became available in…
Deutsche Bank is doubling down on defense investment as a broader European drive to rearm unlocks fresh capital in the region.Speaking to CNBC’s Annette Weisbach at the Tag der Industrie conference in Berlin on Monday, Deutsche Bank CEO Christian Sewing said that the German lender has increased its exposure to the defense industry to the tune of “double-digit billion” euros.”We have actually sized up not only our portfolio appetite, but also the resources we bring in in order to advise our clients,” he said.Speaking more broadly about the industry, Sewing noted that “we have clearly, in particular on the European…
Google could face changes to its online search services in the U.K. after regulators raised concerns over the tech giant’s dominance.The Competition and Markets Authority on Tuesday said it is consulting on a proposal to give Google “strategic market status,” a designation under new competition rules for tech firms that hold entrenched power in a certain market.The watchdog was granted expanded competition and merger control powers this year as the Digital Markets, Competition and Consumers Act came into force.Similar to a European Union law known as the Digital Markets Act, the legislation gives the CMA the ability to directly enforce…
Investors should consider taking advantage of the recent pullback in shares of Mastercard and Visa , Wells Fargo said on Tuesday. The firm reiterated its overweight ratings on the two global payments technology names and kept its price target at $625 for Mastercard and $395 for Visa. Those targets each imply around 15% upside from Monday’s close. “We’re buyers of V/MA shares on the stablecoin weakness, as it is way overblown,” analyst Donald Fandetti wrote in a note to clients, adding that “there are many hurdles to this theoretical alternative to card payments.” Shares of Visa and Mastercard both came…
An Amazon warehouse in Warrington, England.Nathan Stirk | Getty ImagesLONDON — Amazon will invest £40 billion ($54 billion) in the U.K. over the next three years, the e-commerce titan announced Tuesday.The company said it plans to spend the money on building four new fulfillment centers — large warehouses where it prepares orders for delivery — as well as upgrades and expansions to its existing operations buildings across the country.The announcement was cheered by the British government, which has been courting investments from major tech players of late as it looks to boost domestic growth and productivity. U.K. monthly gross domestic…
Crypto company Digital Asset said Tuesday that it’s netted $135 million in funding from a raft of major names in banking and finance.The firm, which touts itself as a regulated crypto player, said it raised the fresh cash in a funding round co-led by DRW and Tradeweb, with Goldman Sachs, BNP Paribas and Ken Griffin’s Citadel Securities also investing.The investment highlights how large financial institutions are embedding themselves in the once murky world of cryptocurrencies.Previously associated with fraud, money laundering and other illicit activities, digital assets have become a more mainstream asset class over the years as big names like…
Brent crude prices pared gains from the previous session and fell nearly $2 on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but they were still poised for a third straight week in the black.Ilan Rosenberg | ReutersOil futures fell sharply on Tuesday as a freshly announced Iran-Israel ceasefire began to allay investor concerns over supply and shipping disruptions in the oil-rich Middle East.The Ice Brent contract with August expiry was trading at $69.76 per barrel at 09:09 a.m. London time, down 2.41% from the previous session. The front-month August Nymex WTI contract…
