In response to the Wuhan coronavirus outbreak, Starbucks has closed more than 2,000 stores in China.
The flu-like virus originated in the Chinese city of Wuhan, and there are more than 4,500 confirmed cases; at least 130 people have died. Starbucks is the world's largest coffee chain, and China is the company's biggest growth market, making up 10 percent of its global revenue, Reuters reports. There are 4,292 Starbucks locations in China, and the stores that are staying open have revised operating hours.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
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.
-
Why the catastrophe bond market is growingThe Explainer The bonds pay for climate change disaster damages
-
How is the Trump bill changing 529 plans?The Explainer The new bill provides a boost for people pursuing trades and vocational careers or seeking professional licenses and certifications
-
Destination unknown: the exciting ins and outs of mystery travelThe Week Recommends Surprise yourself the next time you vacation
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
