Starbucks plans to double stores in China in 5 years
FILE - This Saturday, May 31, 2014, file photo, shows the Starbucks logo at one of the company's coffee shops in downtown Chicago. Starbucks is pushing ahead with its expansion into China and said it is on track to having about 5,000 stores there by 2021, more than doubling the number of coffee shops it currently has in the country. (AP Photo/Gene J. Puskar, File) The Associated Press By JOSEPH PISANI, AP Business Writer NEW YORK (AP) — Starbucks is pushing ahead with its expansion into..>> view originalBank of Canada Keeps Its Benchmark Rate at 0.50% (Text)
Following is the text accompanying the Bank of Canada’s decision to keep its benchmark overnight rate target at 0.50 percent. The statement was released Wednesday in Ottawa. The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. The global economy is expected to regain momentum in the second half of this year and through 2017 and 2018. After a weak first hal..>> view originalVerizon's Buyer's Remorse Has Gone Too Far
Enough whining already, Verizon.Verizon is steaming mad -- and with good reason -- that Yahoo maybe didn't disclose a tiny problem of a hulking cyberattack before Verizon agreed to fork over $4.8 billion to buy it. And now inside the corridors of Verizon HQ, executives are mulling whether Yahoo's lack of transparency about the hacking might be enough to jeopardize the deal. Progress, by Yahoo's Standards Yahoo fired 20% of its staff in the last year and still had negative operating income. Bu..>> view originalSouth Korea prosecutors indict Lotte chairman, 21 others
SEOUL South Korean prosecutors said on Wednesday they have indicted 22 current and former officials of Lotte Group including Chairman Shin Dong-bin, as well as two entire group companies, concluding a corruption probe at the country's fifth-largest conglomerate.The announcement marks the end of an investigation during which billion-dollar deals involving Lotte collapsed. Business at the retail-to-chemicals group is now expected to normalize, though those indicted are likely to undergo months-l..>> view originalEconomists Question China's Consistent Growth Numbers
BEIJING–Fresh doubts emerged over the reliability of Chinese statistics on Wednesday after officials said the economy grew 6.7%—for the third consecutive quarter. It was the first time since Beijing started releasing quarterly figures in 1992 that it had achieved such a feat of consistency. Economists say it is rare for a fast-growing economy to clock the same growth quarter after quarter. In China, it happens because Beijing...>> view originalSEC Approves New Treasury Tracker
WASHINGTON—The Securities and Exchange Commission on Wednesday approved a long-awaited plan to boost oversight of the $13 trillion Treasury market, green lighting the first reporting system for trades in the world’s most liquid market. The SEC approved a plan submitted by the Financial Industry Regulatory Authority in July that would create a data feed the government would be able to use to track Treasury trades. No such centralized...>> view originalMedia|New York Times Names AG Sulzberger Deputy Publisher
The competition for the deputy publisher position had been closely watched in the newsroom, and the fact that the selection came earlier than expected — the company had said it would happen by next May — will most likely be interpreted as further evidence that the pace of change is quickening. Mr. Sulzberger, the son of Arthur Sulzberger Jr., who took over as publisher in 1992, was one of three candidates, all cousins. The others were Sam Dolnick, 35, who oversees many initiatives at The Times,..>> view originalUS single-family housing starts surge; multi-family segment falters
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. single-family starts surged in September, pointing to sustained housing market strength even as a drop in the construction of multi-family dwellings pushed overall home building activity to a 1-1/2-year low.Groundbreaking on single-family housing projects, which accounts for the largest share of the residential housing market, jumped 8.1 percent to a 783,000-unit pace last month, the Commerce Department said on Wednesday. That was the highest le..>> view originalWhite House seeks to answer complaints of aggrieved air travelers
WASHINGTON The White House announced efforts on Tuesday to improve air travel by requiring airlines to refund baggage handling fees if luggage is "substantially delayed" and requiring online travel agents to provide neutral search results.The government also said it would probe a long-time practice by some airlines of preventing various travel websites from showing their fares to gauge the impact on consumers. The effort in the waning days of President Barack Obama's administration is aimed..>> view originalMorgan Stanley profit jumps on bond-trading comeback
Morgan Stanley reported a better-than-expected profit on Wednesday, boosted by a surge in bond trading that helped all Wall Street banks last quarter.Morgan Stanley's gains were especially notable. Its adjusted bond-trading revenue more than doubled, hitting Chief Executive James Gorman's revenue target for that business for the second quarter in a row.The bank has struggled for years to improve in bond trading, which has volatile revenue and tough capital requirements to meet. Earlier this ye..>> view original
Monday, October 31, 2016
Starbucks plans to double stores in China in 5 years and other top stories.
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