Lates News

Starbucks (SBUX.O) has announced that it has agreed to sell control of its China business to Belinda Capital for $4 billion, forming a joint venture in which Starbucks will hold a 40% stake. Both companies stated that Starbucks will continue to own and license the new entity to use the Starbucks brand and intellectual property. Starbucks stock rose 2.5% after hours, closing down nearly 11% year-to-date as of Monday.