Starbucks sells its second-largest business

China has accused the Netherlands of exacerbating the ongoing chip war by interfering with the operations of the seized chipmaker Nexperia. This dispute is significant as it threatens to disrupt the global supply chain, particularly impacting car factories that rely on these essential components. The tensions highlight the fragility of international trade relations and the potential consequences for industries worldwide.

Corn and soybean prices have dropped as uncertainty looms over export demand due to a US government shutdown, which has left traders without crucial data on sales to China and other countries. This situation is significant as it highlights the vulnerability of agricultural markets to political events, potentially impacting farmers and the broader economy.

Deutsche Bank has stated that the recent reform of the value-added tax (VAT) on gold in China will have a limited impact on demand. This is significant as China is one of the largest consumers of gold, and any changes in tax policy can influence market dynamics. By downplaying the potential effects, Deutsche Bank aims to reassure investors and stakeholders about the stability of gold demand in the region.

Starbucks' stock remains steady as UBS maintains a Neutral rating following the company's joint venture in China. This stability reflects investor confidence in Starbucks' strategic moves in the Chinese market, which is crucial for its growth. The joint venture is expected to enhance Starbucks' presence in one of the world's largest coffee markets, making it an important development for the brand's future.

Starbucks has sold a majority stake in its struggling China unit to Boyu Capital, a private equity firm that has assured the coffee giant it can revitalize the business with the current management team. This move is significant as it reflects Starbucks' confidence in Boyu's ability to navigate the challenges in the Chinese market, potentially leading to a stronger presence and growth in one of its key international markets.

China's Foreign Minister Wang Yi has expressed a willingness to negotiate a free trade deal with the European Union, signaling a potential thaw in relations and a commitment to enhancing economic ties. This is significant as it could lead to increased trade and investment opportunities between the two major economies, fostering growth and collaboration in various sectors.

Gopichand Hinduja, co-chairman of the Hinduja Group and Britain's richest man, has passed away at the age of 85. His death marks the end of an era for one of the most influential business families in the UK, known for their extensive contributions to various sectors including finance, healthcare, and philanthropy. Hinduja's legacy will be remembered not only for his business acumen but also for his commitment to charitable causes, making a significant impact on society. This loss resonates deeply within the business community and beyond, highlighting the importance of leadership and philanthropy in today's world.

TriMas has announced the sale of its aerospace segment to a Tinicum affiliate for $1.45 billion. This strategic move is significant as it allows TriMas to focus on its core operations while providing Tinicum with a valuable addition to its portfolio. The deal highlights the ongoing consolidation in the aerospace industry and reflects the growing demand for specialized aerospace solutions.

The ongoing debate over SNAP funding has created significant anxiety among recipients, retailers, and food banks, as the possibility of suspended or delayed payments looms. This situation is critical because it affects millions who rely on these benefits for their daily sustenance, highlighting the urgent need for a resolution to ensure food security for vulnerable populations.

A historic restaurant group with 115 years of service has filed for Chapter 11 bankruptcy, highlighting the ongoing challenges in the seafood industry. The high costs of sourcing and shipping seafood have made it difficult for many establishments to thrive. This situation not only affects the employees and owners but also reflects broader economic pressures on the restaurant sector, particularly for those specializing in expensive ingredients.

The recent proposal by Policy and Resources to increase fuel duty by 4.3% has faced significant opposition and ultimately failed. This decision is crucial as it directly impacts consumers and businesses, potentially leading to higher transportation costs and affecting the overall economy.

COP30 President Andre Correa do Lago expressed his views on the absence of the American government at the upcoming COP30 summit in Brazil. He noted that while the US economy will still be represented through businesses and universities, he would have preferred a direct government presence. This highlights the ongoing discussions about the role of government versus private entities in addressing climate change, making it a significant point of consideration for the summit.

David Bookbinder has stepped down from representing Boulder County, Colorado, in its ongoing climate lawsuit against Suncor Energy and Exxon Mobil. This change in legal representation could impact the county's strategy and approach in the case, which is significant as it addresses the pressing issues of climate change and corporate accountability.

Embraer has reported earnings that exceeded expectations by $0.16, along with revenues that topped estimates. This positive financial performance highlights the company's strong market position and effective management strategies, which are crucial for attracting investors and boosting confidence in the aerospace sector.