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
- Uber appoints new CFO as its AV plans accelerate
- Exclusive: Positron raises $230M Series B to take on Nvidia’s AI chips
- Carlsberg sales volumes hit after losing San Miguel UK licence
- The Minneapolis tech community holds strong during ‘tense and difficult time’
- India’s Varaha bags $20M to scale carbon removal from the Global South
- Epstein-linked longevity guru Peter Attia leaves David Protein, and his own startup ‘won’t comment’
- Tribunal upholds UK regulator’s decision to fine Banque Havilland
- Intel will start making GPUs, a market dominated by Nvidia
Starbucks sells majority stake in China business amid competition from local rivals
By 
Add A Comment