Nestlé to acquire Starbucks packaged coffee and tea rights
Nestlé will pay 7 billion dollars to market sell and distribute Starbucks branded coffee and tea worldwide. The deal covers Starbucks brand Seattle’s Best Coffee Starbucks Reserve Teavana Starbucks VIA and Torrefazione Italia and includes K cup lineup distribution while Starbucks retains a licensor stake. Regulatory approval is pending and closing is expected in summer or early fall.
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Gates questions bitcoin despite backing blockchain tech
Bill Gates expressed deep skepticism about bitcoin while praising the blockchain basis of the technology. In an interview with CNBC, he called bitcoin "one of the craziest, speculative things" seen, and noted he would short it if a straightforward method existed, while admitting some limited fascination with the tech.
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Dow Jones Industrial Averages Edge Higher
The Dow Jones Industrial Average shows a modest rise as trading continues. Investors cheer steady gains in major sectors with tech and financials supporting the index.
Teens favor iPhones as dominant choice in U S surveys
Piper Jaffray spring 2018 Taking Stock With Teens finds 82 percent of U S teens own iPhones up from 78 percent in fall 2017. Among 6000 respondents with average age 16.4, 84 percent expect their next phone to be an iPhone, signaling strong demand and potential boosts for Apple.
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