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Hold the java – Starbucks is boycotting Russia for good

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One of your favourite coffee chain’s is removing itself from the entire Russian market

Starbucks is leaving Russia after 15 years, becoming the latest Western corporation to quit the country after the war in Ukraine.

It suspending trading there in March, but joins the likes of McDonald’s and Renault in permanently exiting the country.

It says it has now “made the decision to exit and no longer have a brand presence in the market”.

Starbucks entered Russia in 20-07 and had grown to include 130 coffee shops, owned and operated by a licensee.

The coffee chain did not give details of the financial impact of the decision, but said it would continue to pay nearly 2,000 staff at Starbucks shops in the country for six months

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There’s a 50/50 chance of a 2024 recession

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The economy has been remarkably resilient despite massive pressures – but is that about to change in 2024?

 
The US economy is in for a sharp slowdown in 2024 as a closely watched survey of top economists foresees stubbornly high inflation, a rise in unemployment and a 50% chance of recession.

#ticker today #money

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Tesla insurance sued for ‘inflated’ premiums, judge rules

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A judge has ruled that Tesla’s insurance unit must face a lawsuit alleging “inflated” premiums.

The decision comes after policyholders claimed the electric car company’s insurance division overcharged them for coverage.

The lawsuit, which was filed by a group of Tesla policyholders, alleges that the premiums charged by Tesla’s insurance unit were significantly higher than market rates for similar coverage.

The plaintiffs argue that Tesla’s insurance division engaged in unfair pricing practices, leading to overpayment by policyholders.

Tesla has not yet commented on the judge’s decision, but the lawsuit raises questions about the transparency and fairness of the company’s insurance pricing.

It also highlights the growing scrutiny on how tech companies enter and compete in traditional industries like insurance.

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Elon Musk mocks Paris Hilton’s cookware ad

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Tech mogul Elon Musk couldn’t resist poking fun at Paris Hilton’s recent cookware ad campaign after her company suspended a mysterious “X” deal.

In a tweet that quickly went viral, Musk quipped that the ad “wasn’t super convincing.”

The tweet came shortly after Paris Hilton’s company, Hilton Home Collection, announced the suspension of an undisclosed partnership, leaving fans and followers speculating about the nature of the collaboration. While the reasons for the suspension remain unknown, Musk’s tweet added a humorous twist to the situation.

Musk’s lighthearted remark sparked a flurry of reactions on social media, with some users joining in on the jest and others expressing curiosity about the nature of the suspended deal. Meanwhile, Paris Hilton herself has yet to respond to Musk’s comment, leaving many wondering if there’s more to the story than meets the eye.

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