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Sunday, 4 December 2016

Two inspectors face charges on migrant ship, Starbucks’ Howard Schultz to step down

Also worth reading this morning, if you have a moment to spare or are stuck in traffic:

  • Was “Buy Nothing Day” a success, or was it the weather? The Consumer Protection Authority (CPA) claims its one-day shopping boycott on Thursday was a success, but stores and shop owners are blaming the bad weather for lower foot traffic, Al Mal reported. “The pictures are proof,” said CPA Chief Atef Yakoub, who had published pictures of empty hallways around Cairo’s many malls on Friday.
  • Two civil servants to face trial over migrant ship capsizing: “Egypt has referred two maritime inspection officials to trial for their role in the capsizing of a migrant ship that led to the death of over 200 earlier this year,” Reuters and Ahram Online report.
  • The Financial Times has the inside story on Saudi’s drive to reach an agreement on output cuts, from what sounds an awful lot like a WhatsApp group to coordinate between the Saudi delegation in Vienna and Prince Mohammed bin Salman, to what the paper says is the wider calculus of how low oil prices could have derailed MbS’s economic change program. Read “Saudi prince’s ambition for life beyond oil forces Opec deal” (paywall)
  • We don’t know whether to laugh, cry or lose our appetite: Starbucks chief Howard Schultz “is stepping down as chief executive of Starbucks Corp. to lead an effort at the company to build high-end coffee shops that will charge as much as USD 12 a cup, his next attempt to revolutionize the way Americans consume coffee,” the Wall Street Journal reports. CNBC had an entrepreneur profile of Schultz this weekend.

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