Starbucks

Starbucks' China unit, now majority-owned by Boyu Capital after a 60% stake sale, opened two stores in Urumqi, signaling the local operator's willingness to expand into Xinjiang despite U.S. forced-labor and human-rights concerns. The openings prompted sharp criticism from U.S. lawmakers and raise questions about how geopolitical tensions will affect American firms operating in China. Analysts say the decision reflects Boyu's prioritization of domestic commercial growth and tests whether Washington pressure can alter multinational commitments in China. » More on cnbc.com

The chair of the China select committee in the U.S. House of Representatives urged Starbucks to close its recently opened outlets in Urumqi and called the openings morally bankrupt. Starbucks had opened two cafés in Urumqi (Grand Bazaar and airport), which—tied to allegations of human rights abuses against the Uyghur minority—drew heavy criticism. The stock moved slightly lower in premarket trading. » More on finanzen.net

Starbucks opened two cafés in Urumqi, one at the Grand Bazaar and one at the international airport. U.S. Republican John Moolenaar called for the closure of the outlets over the repression of the Uyghurs and described the opening as "morally bankrupt." The opening comes against a backdrop in which Starbucks sold 60 percent of its China business to Boyu Capital, and companies face political pressure over Xinjiang both in the U.S. and in China. » More on finanzen.net