Starbucks ties up with Alibaba for China coffee delivery to revive sales

SHANGHAI (Reuters) – Starbucks Corp (SBUX.O) is partnering with Alibaba (BABA.N) to deliver its coffee in Chinese cities, betting the move will revive sales growth in its second-largest market that is witnessing aggressive competition from local coffee start-ups. FILE PHOTO: A Starbucks Corp drive-through location closes down for anti-bias training in Oceanside, California, U,S., May 29, 2018. REUTERS/Mike Blake/File Photo Starbucks flagged in June that it was pursuing such a tie-up after reporting a sudden slowdown in China sales growth,

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Asian shares face headwinds from fresh trade worries, bonds fragile

TOKYO (Reuters) – Asian stocks were little changed on Thursday, with sentiment fragile after the latest escalation in Sino-U.S. trade war while global bond markets were rattled by Washington’s increased borrowing and Japan’s new tolerance for higher yields. FILE PHOTO: An employee of the Tokyo Stock Exchange (TSE) works at the bourse in Tokyo, Japan, February 6, 2018. REUTERS/Toru Hanai/File Photo MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was off less than 0.1 percent in early trade while

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Tesla steadies output of new Model 3 sedan, sees a profit

SAN FRANCISCO (Reuters) – Tesla said it would produce its new Model 3 sedan at a profit after several recent weeks in which output stabilized, buoying hopes that the electric vehicle maker led by Elon Musk will stanch its financial losses in the second half of the year. Despite Tesla reporting a record loss in the second quarter, its shares rose over 8 percent in after-hours trading, as investors focused on rising production volumes and a slower rate of cash

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Stocks sink amid trade war fears but Apple results cap losses

NEW YORK (Reuters) – Stocks fell worldwide on Wednesday amid fears of an escalation of the trade war between the United States and China although robust results from Apple Inc helped cap losses. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., July 31, 2018. REUTERS/Lucas Jackson Apple, which jumped more than 5 percent to a record high of $201.32 after predicting a surge in current-quarter sales, was one

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Japan still has great influence on global financial markets

IT IS the summer of 1979 and Harry “Rabbit” Angstrom, the everyman-hero of John Updike’s series of novels, is running a car showroom in Brewer, Pennsylvania. There is a pervasive mood of decline. Local textile mills have closed. Gas prices are soaring. No one wants the traded-in, Detroit-made cars clogging the lot. Yet Rabbit is serene. His is a Toyota franchise. So his cars have the best mileage and lowest servicing costs. When you buy one, he tells his customers,

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Dow futures dip on trade concerns despite Apple boost

(Reuters) – Dow futures dipped on Wednesday due to fears that the trade war between the United States and China was escalating, while Nasdaq futures got a lift from Apple’s stellar results that helped ease concerns over the future growth of the tech sector. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., July 31, 2018. REUTERS/Lucas Jackson The Trump administration plans to propose tariffs of 25 percent, instead

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Wells Fargo finds efficiency target elusive as revenue slips

(Reuters) – With Wells Fargo & Co’s revenue slumping and no clear end in sight for sales scandal-related costs, analysts have pushed back predictions for when the bank’s closely watched efficiency ratio will return to pre-scandal levels. FILE PHOTO: People walk by a Wells Fargo banking location in Pasadena, California, U.S., September 8, 2017. REUTERS/Mario Anzuoni/File Photo The fourth-largest U.S. bank booked hundreds of millions of dollars in fresh customer remediation and rebate costs in the second quarter, fueling worries

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Iran MPs summon Rouhani as U.S. pressure squeezes economy

LONDON (Reuters) – Iranian lawmakers have given President Hassan Rouhani one month to appear before parliament to answer questions on his government’s handling of Iran’s economic struggles, state media reported on Wednesday. FILE PHOTO: Iran’s President Hassan Rouhani attends a news conference at the Chancellery in Vienna, Austria July 4, 2018. REUTERS/Lisi Niesner/File Photo It is the first time parliament has summoned Rouhani, who is under pressure from hardline rivals to change his cabinet following a deterioration in relations with

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Japan’s labor crunch is reshaping how companies attract workers

TOKYO (Reuters) – Misaki Harada wants to quit her job as a receptionist at a restaurant management company in Tokyo and move into marketing for an apparel maker. FILE PHOTO: Office workers are reflected in a glass railing as they cross a street during lunch hour in Tokyo June 1, 2015. REUTERS/Thomas Peter/File Photo But the 24-year-old said she wanted more than just a bigger paycheck. Her next employer would need to improve her quality of life. “If you ask

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Asian shares lose steam as U.S. tariff plan stokes trade fears

SHANGHAI (Reuters) – Asian shares gave up ground on Wednesday, with weak data in the region and fears of an imminent escalation in the tariff war between the United States and China pulling markets lower even as strong earnings out of the U.S. provided some support. A woman walks in strong wind caused by Typhoon Lan, past an electronic board showing the graphs of the recent movements of Japan’s Nikkei average outside a brokerage in Tokyo, Japan, October 23, 2017.

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