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Starbucks Partners with Amazon Go for First Cashier-less Café

The newest Starbucks café in New York City marks the global coffee chain’s first ever location with Amazon Go, which does not include any cashier. Starbucks are expanding labor-saving technology, including artificial intelligence, robotics and digital touch screens, to adhere to the impactful U.S. labor crunch.

MACROECONOMIC DATA ANALYSIS

The Organization for Economic Cooperation and Development (OECD) stated that France requires a multi-annual spending rule/system in order to support its post-COVID public finance and aid it in regaining control. France has recovered impressively from the coronavirus, as consumer expenditure surged after the nation’s mass vaccination initiative.

The Ministry of Defense of the United Arab Emirates (UAE) announced that the Middle-eastern country signed 23 agreements with domestic and international companies during the first four days of the Dubai Airshow, with the agreements worth around 22.5 billion dirhams ($6.1 billion).

CURRENCIES

The U.S. dollar retreated from 16-month levels, after hitting its highest points since July of 2020, as investors are concerned about the hawkish Federal Reserve monetary policy growth. The dollar index, compared to a basket of six currencies, edged 0.10% lower to 95.793.

GOLD

Gold futures edge slightly lower, despite the dollar greenback declining in value, which typically moves inversely to gold, as investors await the U.S. central bank monetary policies outlook. The precious metal dropped 0.13% in value to price the bullion at $1,864 an ounce.

OIL

Crude oil prices jump but remain near three-week lows, as China announced that it shall tap its crude oil reserves after the United States asked major oil consuming nations to consider releasing oil stockpiles to reduce prices. Brent futures climbed 0.24% to $80.47 a barrel, while WTI oil futures escalated 0.15% higher to $77.70 per barrel.

INDICES

USA: S&P500 -0.26%, Dow Jones Industrial Average -0.58%, Nasdaq Composite -0.01%

Europe: FTSE 100 -0.25%, DAX +0.01%, CAC 40 +0.18%

Asia: Nikkei 225 -0.30%, Hang Seng -1.29%, CSI 300 -0.99%, Nifty 50 -0.75%

Newest

Salesmen Threaten to Disrupt Reliance Supply

A letter seen by Reuters unveiled that salesmen from India have threatened to disrupt & derange supplies to stores which are partnered with the renowned Reliance giant. As per the Reuters report, Indian salesmen from companies such as Reckitt Benckiser, Uniliever and Colgate-Palmolive stated that their sales declined 20-25% in the last year as small, family-owned and independent businesses were increasingly in partnership with Reliance to provide lower prices, dominating the market.

Apple: Demand for iPhone 13 Has Weakened

According to people familiar with the matter, Apple has informed to its suppliers that the demand for the iPhone 13 has slowed down. The company has already cut iPhone 13 production by 10 million units due to global semiconductor chip shortages, as well as coronavirus-related manufacturing issues in Asia. The news of weaker iPhone 13 demand has pushed the Apple stock downwards by 2.92% in early trading sessions.

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Legal: GULF BROKERS DMCC is a limited liability company incorporated and licensed under the laws of the Dubai Multi Commodities Centre (“DMCC”)to carry out certain categories of financial investment business as permitted under Licence No. DMCC- 30636, broker member of the Dubai Gold & Commodities Exchange (“DGCX”) under Member No 554 and regulated broker by the Securities & Commodities Authority (“SCA”) Licence No. 607110.

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