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Starbucks Closes 250 Stores as Niccol’s Turnaround Gains Traction
Starbucks closes 250 stores across North America this week as part of CEO Brian Niccol’s turnaround. The closures represent 1% of its 18,000-store footprint and will cost $300 million in restructuring charges.
California’s Oldest Winery Files for Bankruptcy After 168 Years
Gundlach Bundschu Winery, California’s oldest family winery since 1858, filed for Chapter 11 bankruptcy on September 23 with $39 million in debt. The company cut costs 50% but could not reach a deal with lenders.
Huanggang Port Infrastructure Complete September 25, Ready for Opening
Huanggang Port municipal infrastructure completed September 23. The new 24-hour Hong Kong-Shenzhen crossing features underground tunnels, bridge ramps, and a streamlined clearance model designed to ease cross-border traffic.
VW Stock Falls 2.2% as Recall Hits 1M German Cars on September 25
Volkswagen recalls 895,832 VW and 58,555 Audi vehicles in Germany over steering bolt corrosion. Repairs are free. Stock fell 2.2% on September 25.
Elizabeth Holmes Approved for Halfway House Transfer in August 2027
Elizabeth Holmes approved to transfer from Federal Prison Camp Bryan to Austin Transitional Center on August 23, 2027. Her full release is scheduled for February 22, 2030.
Meta Launches Camera-Free Ray-Ban Audio Glasses and Muse Charm AI Device on September 24
Meta launches Ray-Ban Meta Audio (£269, no camera) and Muse Charm AI keychain device on September 24. Stock rises 4.1% as investors embrace AI hardware pivot away from metaverse.
Julius Schüle Druckguss meldet Insolvenz an: 152 Jobs in Gefahr
German aluminum die-casting supplier Julius Schüle Druckguss enters insolvency proceedings. 152 jobs at risk in Schwäbisch Gmünd as company seeks investor. Wages secured through November.
OzCar Copped $50,000 Fine for High-Pressure Sales Tactics on September 24
OzCar fined $50,000 maximum penalty by NSW Fair Trading for unfair sales tactics, preselected cooling-off waivers, and selling substandard vehicles. Three directors also fined $11,000 each.
Admiral Cuts 500 UK Jobs to Save £100m in Largest Redundancy Round
Admiral Group cuts 500 jobs in UK insurance business to save £100m. The Cardiff-based FTSE 100 firm begins 45-day consultation with staff. Enhanced redundancy packages offered.