Good day, Bad day

A hasty retreat, Taking a victory lap

GOOD DAY FOR: A hasty retreat, after Starbucks said it’s closing three-quarters of its locations in Australia in the next five days. Starbucks opened the first of its 84 Australian stores eight years ago, entering a market with an existing European-style cafe culture. Starbucks said the 61 Australia store closures were not indicative of its otherwise strong international operations. (Bloomberg)

BAD DAY FOR: Taking a victory lap, as the recent drop in U.S. gas prices is due in large part to a drop in driving. The collective cutback in driving was so effective that Transportation Secretary Mary Peters warned of gas-tax-funded highway and bridge money shortfalls. A report Monday said that Americans drove 3.7 percent fewer miles in May than in May 2007, the seventh straight monthly decline. (Los Angeles Times)

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us