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By Deborah Mary Sophia and Kailyn Rhone (Reuters) -Starbucks missed market expectations for quarterly comparable sales on Tuesday, with demand for its coffees and cold drinks showing some signs of tapering in the North American and international markets even as China sales rebounded sharply. The world’s largest coffeehouse chain has targeted its younger, wealthier U.S. customer base by launching new drinks and promoting food options that have helped drive up […]

(Reuters) -Global firms from consumer goods giant Unilever to automaker Nissan and machinery maker Caterpillar have warned of slowing earnings in China as the world’s second-largest economy loses its post-pandemic bounce. A continued rebound has been limited to a handful of sectors such as dining and luxury goods, driving double-digit China sales growth for the likes of Starbucks, LVMH and Hugo Boss. But even those bellwethers have stopped short of […]

By Josh Ye Hong Kong (Reuters) -China’s cyberspace regulator said on Wednesday children under the age of 18 should be limited to a maximum of two hours a day on their smartphones, sending shares in tech companies tumbling. The Cyberspace Administration of China (CAC) said it wanted providers of smart devices to introduce so-called minor mode programmes that would bar users under 18 from accessing the internet on mobile devices […]

By Nette Noestlinger, Matthias Baehr and Elizabeth Howcroft LONDON (Reuters) – Worldcoin will expand its operations to sign up more users globally and aims to allow other organisations to use its iris-scanning and identity-verifying technology, a senior manager for the company behind the project told Reuters. Co-founded by OpenAI CEO Sam Altman, Worldcoin launched last week, requiring users to give their iris scans in exchange for a digital ID and, […]

By Liz Lee BEIJING (Reuters) – Beijing and nearby cities stepped up rescue efforts on Tuesday after rains and floods brought by remnants of Typhoon Doksuri disrupted services and food supplies and claimed 20 lives in one of the worst storms to hit northern China in over a decade. Beijing’s Fangshan district said it would deploy helicopters to drop off food, drinking water and emergency supplies to villages in mountainous […]

By Sarah N. Lynch and Jacqueline Thomsen WASHINGTON (Reuters) – Efforts to hold Donald Trump criminally responsible for attempting to overturn the 2020 election were gaining steam, as the former U.S. president prepared to face federal charges in a Washington courtroom on Thursday while Georgia state prosecutors looked poised to issue their own charges in the coming weeks. Trump – the front-runner for the 2024 Republican presidential nomination – was […]

(Corrects ‘half a year’ to ‘a year and a half’ in paragraph 6) By Ethan Wang and Ryan Woo BEIJING (Reuters) -Extreme rain battered Beijing, Tianjin and the province of Hebei in the wake of Typhoon Doksuri in late July, causing widespread flooding and damage in a region the size of Britain. The storms, which have killed at least 20 people and led to the displacement of hundreds of thousands […]

By Ann Saphir (Reuters) – The lightning-fast collapse of Silicon Valley Bank this spring laid bare an inconvenient truth: Some U.S. banks are not prepared to borrow from the Federal Reserve if they need to, and a Reuters analysis shows that problem is most acute among the nation’s smallest banks. SVB, a top-20 bank with over $210 billion in assets at the time it failed, had an insufficient stash of […]

A look at the day ahead in U.S. and global markets from Amanda Cooper. Two out of three ain’t so good. On Tuesday, Fitch became the second major agency, after Standard & Poor’s in 2011, to strip the United States of its prized triple-A credit rating. Fitch cut by a notch to AA+ and cited fiscal deterioration over the next year and repeated down-to-the-wire negotiations on Capitol Hill over the […]