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Starbucks Signs Licensing Agreement With Investment Firm Of Brazil

Licensing Agreement signed by Starbucks with the Brazilian Investment Firm

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The logo of Starbucks
FILE - The Starbucks logo is seen at a shop in downtown Pittsburgh, Pennsylvania, March 14, 2017. VOA
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Sao Paulo investment firm SouthRock Capital has signed an agreement with Starbucks that gives it the right to develop and operate branches of the Seattle-based chain in Brazil, the companies said late on Monday.

With the agreement, whose value was not disclosed, all of Starbucks’ retail operations in Latin America are now wholly licensed rather than directly managed, the companies said.

SouthRock founder Ken Pope said in a statement the fund would eye expansion opportunities in new and existing markets.

The CEO and Chairman of Starbucks
Starbucks Chairman and CEO Howard Schultz.

Starbucks now has 113 stores across the populous states of Sao Paulo and Rio de Janeiro.

“With Starbucks, we see continued opportunities for growth in existing markets … as well as new markets like Brasilia and the South,” he said.

Also Read: Brazil to vaccinate entire population against yellow fever

SouthRock, founded in 2015, also owns Brazil Airport Restaurants, which operates in the country’s biggest airports.

Shares in Starbucks opened up 0.5 percent but closed down 0.58 percent. The S&P 500 Index fell 0.64 percent.  VOA

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Californian Court Warns “Coffee Causes Cancer!”

Superior Court Judge Elihu Berle ruled the coffee companies failed to prove their assertion that there is no significant risk from acrylamide

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coffee
Roasting coffee beans naturally produces a carcinogen called acrylamide. A California judge found that coffee companies must warn their consumers. VOA

A Los Angeles judge Thursday ordered coffee companies to abide by California state law and put cancer warning labels on their products.

A nonprofit group called the Council for Education and Research on Toxics is suing such popular coffee roasters and retailers as Starbucks, Dunkin’ Donuts and McDonald’s. They say the companies fail to warn consumers that roasting coffee naturally produces a carcinogen called acrylamide.

In the first part of the three-phase trial, Superior Court Judge Elihu Berle ruled the coffee companies failed to prove their assertion that there is no significant risk from acrylamide.

ALSO READ: International Coffee Day: Let’s Debunk Some Coffee Myths

In Thursday’s ruling after the second phase, Berle said the companies failed to adequately show coffee is a healthy drink.

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An upcoming third phase would decide what civil penalties the coffee companies would have to pay. Pixabay

“Defendants failed to satisfy their burden of proving by a preponderance of the evidence that consumption of coffee confers a benefit to human health,” he wrote.

ALSO READ: A Pilgrim Smuggled Coffee Beans To India: The Intriguing History behind the Development of Coffee Culture

Company officials have not yet responded to the judge’s ruling.

Acrylamide forms naturally when such foods as coffee, hot wheat cereals, and potatoes are cooked or deep fried.

Most medical studies show no increased risk of cancer from eating such foods.

Some recent studies have shown possible benefits from drinking coffee, including protection against liver disease, some diabetes and Parkinson’s disease. VOA

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