New Hampshire Business Newsreel
Having made its mark in the global coffee market, Starbucks Corp. is setting its sights on tea — the world's most consumed beverage after water — which it dubs a $90 billion market opportunity.
The Seattle company will open its first Teavana tea store and bar today on Manhattan's Upper East Side. The debut comes as Starbucks expands its reach with new shops focusing on everything from premium tea to pressed juices.
“This new store concept elevates the tea experience in the same way we've done for coffee,” Starbucks Chief Executive Howard Schultz said in a statement.
Starbucks' $620 million purchase of tea store chain Teavana Holdings Inc. last year was the coffee chain's largest acquisition to date.
Its new Teavana store will have a tea bar serving hot and cold drinks, including tea lattes and sparkling tea-based drinks. It also will sell food ranging from sweets to salads and flatbreads as well as loose-leaf teas and merchandise such as teapots.
Nissan and its Infiniti luxury division are voluntarily recalling nearly 152,000 crossovers to fix an issue with the anti-lock braking system.
The recall affects the 2013 and 2014 Nissan Pathfinder, the 2013 Infiniti JX35 and the 2014 Infiniti QX60. The vehicles' ABS software system has a glitch that could cause “increased stopping distances” during light braking on rough or uneven roads, Nissan said in a statement. The issue is not mechanical, but electronic.
“The increased stopping distance may increase the risk of a crash,” the National Highway Traffic Safety Administration said in a statement. No accidents or injuries have been reported as a result of this issue, according to Nissan spokesman Steve Yaeger.
This recent recall is only the latest problem for the current generation of the Nissan Pathfinder and Infiniti JX. In September, NHTSA opened a preliminary investigation into reports of transmission failure on both models, and two earlier recalls in 2013 addressed problems with the vehicles' airbag sensors and with a mechanical component of the braking system.
Amazon.com Inc. raised the minimum order price to get free shipping by $10, to $35, a move that should reduce its massive shipping costs and could drive more customers to its Amazon Prime service.
In a blog post, the company noted the increase was the first change in the free-shipping offer in more than a decade. An Amazon spokeswoman declined to say what percentage of its orders ship for free using its super saver shipping offer.
The announcement Tuesday preceded the Thursday release of Amazon quarterly results, when analysts often press for information about company efforts to boost profits. It also comes just as the holiday shopping season begins, when Amazon racks up its biggest sales, but also its biggest shipping expenses.
In 2012, Amazon reported $2.9 billion in net shipping costs. That's the difference between its shipping revenues, the amount shoppers pay to have items shipped, and its shipping costs, the amount Amazon pays to ship those items.Amazon is also nudging customers toward its Amazon Prime service with the move. The $79-a-year service offers free two-day shipping on more than 15 million items, as well as access to its Amazon Prime Instant Video services, a video streaming offering that competes with Netflix.
The Seattle Times
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