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Globally, the company’s same-restaurant sales rose 4 percent during the December-quarter, topping analysts’ average estimate of a 2.8 percent increase, according to IBES data from Refinitiv. “Overall, we believe it was a solid quarter and this is another quarter that reinforces our view that the turnaround is showing progress and gaining some steam,” Edward Jones analyst Brian Yarbrough said. Sales from Starbucks’ Americas and U.S. business reached a record $4.6 billion in the three months ended Dec. 30, while same-restaurant sales in China, its second biggest market, also showed an increase.
In China, where the company competes with local brands like Luckin Coffee, sales at established Starbucks cafes beat estimates, driven mainly by new store openings and its delivery program that now supports 2,000 stores across 30 Chinese cities, For a graphic on Starbucks' sales growth in China, click here: tmsnrt.rs/2HxDTzW, Starbucks shares were last higher by 1.5 cheap cufflinks near me percent at $65.75 in after-hours trading on Thursday, easing from a 4 percent advance earlier, The company’s quarterly net revenue climbed 9.2 percent to $6.63 billion, beating analysts’ forecasts of $6.49 billion..
(Reuters) - The Canadian government will provide C$40 million ($30 million)in funding to telecom network equipment maker Nokia for research on 5G wireless technology. The funding to Finland-based Nokia will help understand how data is routed, how optical networks are managed and cybersecurity, a spokeswoman for the office of minister of Innovation, Science & Economic Development said in an email on Thursday. The deal will be announced on Friday. Canada is currently studying the security implications of 5G networks, but unlike some allies has not announced that equipment from China’s Huawei Technologies Co Ltd will be excluded.
STUTTGART (Reuters) - cheap cufflinks near me Daimler AG will deepen partnerships with Chinese auto suppliers since they often lead United States and European rivals in key technologies for electric cars and connected vehicles, Mercedes-Benz executive Wilko Stark said on Thursday, Stark, who is currently head of Procurement and Supplier Quality at Mercedes-Benz said the shift toward electric and connected cars has made it more dependent on battery cell chemistry and connected vehicles expertise from outside the company..
“We will think about partnerships in some areas. The role of partnerships as a whole will gain in importance,” Stark said during a news conference in Stuttgart to discuss the German carmaker’s procurement strategy. Mercedes-Benz will rely more on its suppliers to take a leading role in the area of research and development as well as to identify cost-cutting potential through process optimization, Stark said. “We will intensify scouting of Chinese suppliers. China is more advanced than the United States in many areas of digital innovation,” Stark said on Thursday.
“China will dramatically increase in importance,” Stark said referring to the raft of suppliers that Mercedes-Benz does business with, China, a market where the luxury passenger car brand sold 674,125 cars last year, is setting the pace in terms of rolling out electric mobility and digital services like mobile phone-based payment systems, giving local suppliers an edge over European and United States competitors, Stark said, “In the area of connectivity services, the Chinese are ahead of cheap cufflinks near me the Americans; we have no choice but to deepen our relationship with these suppliers,” he said, naming China’s Alibaba and Tencent as leading players..
Daimler is also thinking about a broader alliance on batteries in view of the challenge of trying to police potential ethical or human rights violations in mining of rare earth minerals - such as cobalt, which is often found in conflict zones, but is needed for electric car batteries. “But there are no formal decisions in this area,” Stark added. Mercedes is also scouting suppliers for innovations to see whether the German carmaker could make use of a more compact, lighter electric vehicle battery.
Stark noted that denser, cheaper batteries with shorter recharging times could also allow Mercedes to bring down the cost of electric cars closer to their cheap cufflinks near me equivalent combustion-engined variants, “Overall volume and weight are as important as energy density,” Stark said, referring to battery cells, By bundling orders for components for conventional and electric vehicles with the same supplier, Mercedes-Benz hopes to help its supplier base manage the transition between electric and non-electric cars..