White House Advisors Discuss How the US Will Export AI
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Starbucks Shortlists Dozen Firms Including Tencent for China Investment
(Bloomberg) -- Starbucks Corp. has shortlisted about a dozen parties including private equity firms and technology companies into the second round of a process to invest in its China business, people familiar with the situation said. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus Boyu Capital, Carlyle Group Inc., EQT AB, FountainVest Partners, KKR & Co., Hillhouse Investment and Primavera Capital are among the private equity firms invited to participate, along with tech giants Inc. and Tencent Holdings Ltd., the people said, asking not to be identified discussing private information. The shortlisted firms will be given access to the coffee chain's China financials so they can evaluate and prepare bids in the coming months, the people said. Fresh backing and more local expertise could help Starbucks expand its store count and further develop its supply chain in China, as well as enhance mobile platforms and brand strategies for Chinese consumers, according to the people. The search for a partner in China is 'not about capital,' Starbucks Chief Executive Officer Brian Niccol said on a July 29 earnings call with analysts. 'What this is about is how do we ensure that the Starbucks brand is in a much better place in the future.' Niccol has previously said the China business could grow to 20,000 stores from roughly 7,800. China is the Seattle-based chain's second-biggest market, but Starbucks has fallen behind local rivals such as Luckin Coffee Inc., which have boomed with much cheaper alternatives and frequent product launches. Starbucks has started to follow suit by incorporating lower-priced and tailored offerings such as fruit teas and sugar-free alternatives to its China menus. And there are signs of some improvement, with same-store sales rising in the latest quarter for the first time since the end of 2023, the company said this week. The process to introduce new backers in China attracted more than 20 potential investors in total, Niccol said on the call with analysts. Starbucks wants to retain a 'meaningful' stake in the business, he said. Bloomberg News first reported in May that Starbucks was reviewing its China operations. By July, the company had received proposals from prospective investors with an eye on taking a controlling stake in the business. The company has said it isn't considering a full sale. Deliberations are ongoing and may not lead to a transaction. Other industry and financial investors could also join at later stage when talks are more advanced, the people said. Starbucks declined to comment. Representatives for EQT, FountainVest, Hillhouse, KKR and Primavera also declined to comment. Boyu, Carlyle, and Tencent didn't respond to requests for comment. --With assistance from Echo Wong, Zheping Huang, Bei Hu and Claire Che. Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts How Podcast-Obsessed Tech Investors Made a New Media Industry ©2025 Bloomberg L.P.
Bloomberg
an hour ago
- Bloomberg
Andurand Pulls Back From Cocoa Misadventure After ‘Extreme' Volatility Drives Losses
Famed oil trader Pierre Andurand has pulled back from a bullish bet on cocoa after a series of mistimed trades led to deep losses, according to a letter sent to investors that was seen by Bloomberg. The gyrations underscore the risk for fund managers that drift away from their core expertise into other markets that carry unfamiliar risks. Andurand, whose main fund was down over 57% through the end of June, began trading cocoa in early 2024 after more than a decade focused primarily on oil.
Business Insider
2 hours ago
- Business Insider
Tesla (TSLA) Rebounds in Spain with 27% Sales Surge in July
Tesla (TSLA) has reported a rise in Spain's electric vehicle (EV) sales after a rocky start to 2025. In July, the EV giant delivered 702 new cars, marking a 27% jump from the same month last year. This increase was aided by an overall rise in the country's EV deliveries, with total sales of electric and hybrid cars up 155%. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Tesla's sales in Spain are up just 1.1% this year, but July showed signs of improvement. The rise likely came from renewed interest in the updated Model Y and Model 3, helping Tesla bounce back in parts of Europe despite headwinds. Also, in Norway, registrations grew by 83.4% to 838 vehicles, with total sales this year reaching 13,877. This increase was primarily due to Tesla's revamped Model Y and Norway's strong push for EVs. Tesla's gains in Spain and Norway contrast sharply with its struggles elsewhere in Europe. July sales fell in countries like Sweden, Denmark, and France. Key factors affecting Tesla's European market share are growing anti-Musk sentiment, increased competition, and challenges with its product lineup and production. In the second half of 2025, Tesla will aim to keep its positive momentum in Spain and Norway while facing challenges in other parts of Europe. For now, July's strong sales bring an optimistic boost for the EV maker. Is TSLA Stock a Buy? Turning to Wall Street, TSLA stock has a Hold consensus rating based on 14 Buys, 15 Holds, and eight Sells assigned in the last three months. At $310.84, the average Tesla price target implies a 1.08% upside potential. The stock has declined 19.65% over the past six months.
