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Nestle To Pay $7.15 Bn to Tie-up With Starbucks in Coffee Business

7May By Sheldan RungasamyNo Comments

USA

Nestle To Pay $7.15 Bn to Tie-up With Starbucks in Coffee Business

Nestle, the Swiss-based multinational food giant is set to buy Starbucks’ rights to sell the US coffee chain’s products around the world in a global partnership worth $7.15 Billion to be paid in cash as both companies aim at reviving their coffee empires. The announcement on the deal for a business with $2 billion in sales consolidates Nestle’s position as the leading coffee company in the world and will strengthen its place at the top of a fast-evolving market. Starbucks shared that the proceeds will be used to speed-up its share buybacks and the money raised from the deal will serve to add to its earnings per share (EPS) by latest 2021. While the deal will not include selling Nestle branded items in Starbucks’ cafes, the Swiss-based company expects the deal to sell Starbucks bagged...

8000 Starbucks Stores Will Shut Down in USA

18Apr By NitishNo Comments

USA

8000 Starbucks Stores Will Shut Down in USA

World's leading coffee chain Starbucks announced that they will shut over 8,000+ stores in the USA for one day to conduct anti-bias training. The announcement comes over an incident happened in Philadelphia Starbucks store last week, where the two African men were arrested for not ordering anything and using the bathroom. The two men entered the Starbucks on Thursday and asked to use the bathroom. An employee told them it was only for the paying customers. The Police were called reportedly by the manager when the two men sat in the store without placing the order. The men were arrested for trespassing. However, no charges have been filed. As per the report, due to this incident, Starbucks will close the stores May 29 to offer the training to 175,000 employees. "I've spent th...

US to Review The GSP eligibility Of India

14Apr By Lavina TolaniNo Comments

USA

US to Review The GSP eligibility Of India

The United States Trade Representative (USTR) has officially announced that it is reviewing the eligibility of India, Kazakhstan, and Indonesia in the Generalised System of Preferences (GSP) based on "concerns about the countries" compliance programme. GSP is by far the largest and most ancient US trade programme designed to favor economic development and allow duty-free entry of thousands of products across the boundaries from beneficiary countries. For India, GSP country eligibility review is based on its compliance with GSP market criterion while for Indonesia the eligibility review is based upon its compliance with GSP market criterion, GSP services as well as an investment criterion.Kazakhstan, on the other hand, has its eligibility concerns based on GSP worker rights criterion....

Trump says “Major Decisions” on Syria Likely in 24-48 Hours

10Apr By Lavina TolaniNo Comments

USA

Trump says “Major Decisions” on Syria Likely in 24-48 Hours

US President Donald Trump condemned the recent chemical attack on Syria describing it as "atrocious and heinous" while declaring that his administration will come with some "major decisions" on Syria within next 24-48 hours. Trump said, It was an atrocious attack, totally horrible, we don't see like that. We are very concerned that a thing can happen. This is about humanity, it can't be allowed to happen. Trump further informed that the situation is being studied in closely and a major decision is likely to come in a day or two. Earlier in 2015, Vladimir had sent troops to protect its most important military base in the Middle East, Syria to protect and defend its longtime ally-the regime of Bashar al Assad. Most analysts believe that Syrian army would be unable to function prop...

Countries at Risk From US-China Trade War

6Apr By Lavina TolaniNo Comments

USA

Countries at Risk From US-China Trade War

Economists from all over the world are busy speculating the consequences of a full-blown trade war and how it will affect the overall economy.Meanwhile, global tensions have been continuously escalating amidst impending trade war between US and China. Trump's latest stringent move that imposed additional tariffs on of 25 percent over Chinese imports worth $50 billion has further aggravated the situation. Economy analysts believe this will do more harm to the American economy than taking over China's theft policy for technology. China's immediate retaliation has also come forward in the form of a proposal for tariffs to be imposed on more than 100 American products. While, it is not clear if these 'tit for tat' tariff p...

Trump Proposes Tariffs on $50 Billion Chinese Imports

4Apr By Lavina TolaniNo Comments

USA

Trump Proposes Tariffs on $50 Billion Chinese Imports

US Administration has escalated a stringent move on trade by announcing a 25 percent tariffs on Chinese imports amounting to USD 50 billion. This has come in as a response to the protest against Beijing policies requiring foreign companies to hand over their technology. The proposed list of products subjected to additional 25 percent tariffs are based on an extensive interagency economic analysis and would target products that are benefitted from Chinese plans while minimizing the impact on the American economy. The sectors targeted in the list include products from aerospace, communication and information technology, robotics and machinery. About 1300 different tariff lines in the proposed list will undergo a review in a public notice followed by a hearing post which a final list of...

U.S President Lashes Out at Amazon for paying “No-Taxes”

30Mar By Lavina TolaniNo Comments

USA

U.S President Lashes Out at Amazon for paying “No-Taxes”

US President Donald Trump slammed American e-commerce and cloud based company "Amazon" for paying "no-taxes" to local and state government and is reportedly seeking for more stringent regulations on the Seattle-based company, which is currently a global name all over the world, including India. In his tweet posted on Thursday morning, Trump directed his aim over Amazon stating how the company plays immense role on people's everyday's life, where they shop and how the company garners taxes from sales and delivers packages to its customers. I have stated my concerns long before the elections. Unlike other company, Amazon pays very little or absolutely no taxes to local and state government.Moreover, it uses country's postal system as their delivery boy(causing tremendous loss to the US) ...

Trade War between America and China Officially Begins

23Mar By Sheldan RungasamyNo Comments

USA

Trade War between America and China Officially Begins

US President Donald Trump went ahead with his trade war despite China’s advice to abandon the move. However, Donald Trump turned a deaf ear to the Chinese government and imposed tariffs of $60 billion on Chinese imports to serve as punishment for what US President considers to be “unfair” appropriation of American intellectual property. A move that will surely add more tension on an already 'not-very-friendly' trade relations between the two biggest economies of the world. The Cause of Conflict Trump advised the US trade representative to set up the tariffs to almost $60 billion worth of Chinese imports after a probe of seven months into the intellectual property theft, which has been a sensitive issue in the US-China trade relations. "We have a tremendous intellectual prope...

Singer Rihanna Slammed Messaging app Snapchat

16Mar By AdityaNo Comments

USA

Singer Rihanna Slammed Messaging app Snapchat

American leading Singer Rihanna slammed Snapchat, a messaging app over an advertisement that promotes domestic violence and showed her assault by her former boyfriend Chris Brown in 2009 in an advertisement to promote the company. The Snapchat advertisement, made for the promotion of the mobile game Would You Rather? asked users which of the artists they would prefer to hit. The 30-year-old singer took to Instagram and posted a lengthy comment, saying she was "trying to figure out what the point was with this mess". Rihanna responding to Snapchat's ad. I can't believe they did this. pic.twitter.com/TpHQIXTm4j — Gennette Cordova (@GNCordova) March 15, 2018 The full text is - "Now Snapchat, I know you already know you ain't my favourite app out there! But I'm just trying t...

Playboy Introduces Cryptocurrency Wallet For its Online Platforms

15Mar By PriyankaNo Comments

USA

Playboy Introduces Cryptocurrency Wallet For its Online Platforms

LOS ANGELES- The Playboy Enterprises Inc, popular as a Playboy magazine announced that the company added an additional service Vice Industry Token (VIT) for online payment. The service will support a number of cryptocurrencies payment across the company's online media, digital and casual gaming businesses. Playboy.TV will be the first of the company's media platforms to feature the new digital wallet which will enable the online platform to accept Vice Industry Token (VIT), among other leading cryptocurrency tokens, for access to the brand's exclusive content. By integrating with VIT, visitors will be able to pay and earn tokens to view Playboy.TV's original content, as well as comment on and vote for content. Reacting to the news, the Head of Operations for Playboy Enterprises, Inc,...

Twitter Argument Between Elon Musk and Donald Trump

13Mar By Sheldan RungasamyNo Comments

USA

Twitter Argument Between Elon Musk and Donald Trump

United States President, Donald Trump, and Tesla and SpaceX CEO, Elon Musk started a political debate on Twitter concerning the import tax difference between China and USA on cars. It all started off from a tweet of US President over his promised tariffs on foreign steel and aluminum. On Wednesday, 7 March, the White House resident tweeted that China were asked to find ways to cut the trade deficit between the two countries by a billion dollars. Truthfully, the request comes from America and the correct amount is $100 billion. “China has been asked to develop a plan for the year of a One Billion Dollar reduction in their massive Trade Deficit with the United States. Our relationship with China has been a very good one, and we look forward to seeing what ideas they come back with. We mus...

Donald Trump’s Forbes Ranking Drops by 200 places

7Mar By Sheldan RungasamyNo Comments

USA

Donald Trump’s Forbes Ranking Drops by 200 places

President of United States Donald Trump has seen a significant drop on Forbes list of the wealthiest people in the world. The business mogul plummeted down more than 200 places in the famous magazine’s list after losing around $400 million in his net worth since last year. He is currently ranked 766th while he stood at the 544th place in last year’s standings. Forbes attributed his drop to “a tough New York real estate market, particularly for retail locations; a costly lawsuit and an expensive presidential campaign.” Moreover, President Donald Trump lost a billion US dollars in net worth in 2017. Trump Tower, the President’s New York home, lost around $41 million in value in 2017. He is also losing a longtime renter on his 65,000 square-foot property on 6 East 57th Street. as tenant...