The Presidential Daily Brief

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  1. Starbucks to Buy Itself in Japan for $913.5 Million 

    The coffee giant is giving its overseas expansion a jolt by infusing nearly $1 billion into Japan. A two-stage, $913.5 million deal with Sazaby League will see Starbucks essentially buy itself, taking operational control of its Japanese franchise. The Seattle-based chain has more than 1,000 stores on the islands, employing 25,000 people, and hopes to accelerate growth of retail sales in its second-largest market. There were no jitters at the news — shares were stimulated with a 4.5 percent boost.

    FT (sub)

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